Mr. Jim Hutchens reports

IMAGIN MEDICAL BUILDS MOMENTUM FOR 2021

Critical milestones met in the second half of 2020 will support Imagin Medical Inc. in achieving its 2021 goals.

Like most companies during 2020, Imagin had to adapt to the unexpected circumstances surrounding COVID-19. The company implemented emergency measures to decrease expenses in all areas of the business to extend its cash runway. Key salaries were reduced by over 50 per cent company wide, employee travel was frozen and all meetings were held virtually. These measures remain in place.

Despite the constraints, Imagin reached a major milestone with the successful transition from the product development stage to manufacturing with the selection of Lighthouse Imaging, a Food and Drug Administration-registered and ISO 13485:2016-certified contract manufacturer with expertise in the manufacture of full, state-of-the-art imaging systems for minimally invasive surgeries.

"Our relationship with Lighthouse Imaging marks a new stage in the company's progress," remarked Jim Hutchens, Imagin's president and chief executive officer. "We anticipate 2021 to be a breakout year with emphasis on manufacturing and the FDA process. This year's primary goal is the completion of the final preproduction i/Blue imaging system unit. The company's secondary goal is to establish final test parameters with the FDA, as we will continue to build relationships with clinical opinion leaders and expand our IP platform."

In the fourth quarter of 2020, Imagin signed a $3-million convertible note term sheet and closed the first tranche of $750,000. The company is planning on additional closings in January, February and March to complete this financing. Imagin intends to utilize the funds raised to support product optimization for manufacturing, as well as the continuing FDA approval process and market awareness.

Other activities planned for 2021 include participating in the American Urology Association (AUA) Annual meeting in the third quarter, to introduce the final preproduction i/Blue imaging system to key clinical opinion leaders and the broader medical community.

To further communicate the company's message, Imagin delivered its first webinar in October, 2020, featuring two world-renowned urologists, Dr. Ashish Kamat from MD Anderson Cancer Center in Houston and Dr. Alexandre Zlotta from Mt. Sinai Hospital in Toronto, who discussed blue light cystoscopy and its limitations. This was followed by a demonstration of how the i/Blue system will address the market's current needs.

Imagin plans to continue non-deal road shows that will elevate the company's visibility in the United States, Canada and the European Union and expand its investor base by working with Torrey Hills Capital (THC) where Imagin will increase awareness through established relationships with investment professionals, investment advisers and money managers focused on the microcap market space.

About Imagin Medical Inc.

Imagin Medical is a surgical imaging company focused on advancing new methods of visualizing cancer during minimally invasive procedures. The company believes its first product, the i/Blue imaging system, with its proprietary optics and light sensors, will greatly increase the efficiency and accuracy of detecting cancer for removal and help reduce recurrence rates. Imagin's initial target market is bladder cancer, the sixth most common cancer in the United States and the third most common cancer in men. Worldwide, over 380,000 new cases are diagnosed each year. With treatment costs of $4-billion per year in the United States alone, bladder cancer is the most expensive cancer to treat during the lifetime of a patient, with approximately 60 per cent of the costs attributable to recurrence. Over 80,000 new cases each year and almost 600,000 patients in the United States living in fear of their bladder cancer returning represent a large market that can benefit from the company's i/Blue imaging technology.

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