Mr. Roderick Matheson reports

MARVEL BIOSCIENCES ANNOUNCES CLOSING OF SECOND TRANCHE OF PRIVATE PLACEMENT

Further to its press release dated March 28, 2025, and subject to the approval of the TSX Venture Exchange, Marvel Biosciences Corp. has closed the second tranche of its non-brokered private placement of up to 12 million units at a price of 12.5 cents per unit for gross proceeds of up to $1.5-million.

The second tranche closing of the offering resulted in the issuance of 150,000 units for gross proceeds of $18,750. Each unit comprises one common share in the capital of the company and one warrant. Also, in connection with the second tranche closing of the offering, the company paid finders' fees of $1,312.50 in cash commission and issued 10,500 finders' warrants to certain finders. Each finder's warrant is exercisable to acquire one common share at a price of 17.5 cents per share for a period of two years from the date of issuance. Acumen Capital Finance Partners Ltd. acted as the sole finder in connection with the second-tranche closing of the offering.

The company's press release dated March 28, 2025, erroneously reported that finders' fees and finders' warrants were paid to Abinvest Corp. and Abingdon Capital Corp. The company confirms that no finders' fees or finders' warrants were paid to either Abinvest or Abingdon Capital in relation to the offering.

The offering is being made to accredited investors or to such other qualified persons under such other prospectus exemptions as the company may approve, provided, however, that the offering will not be made to persons or pursuant to securities laws exemptions that would require either the preparation or the filing of a prospectus, offering memorandum or similar document by the company.

The common shares and the warrants are subject to a hold period in Canada that expires four months plus one day from the issuance of the units and such other restrictions as imposed under applicable securities legislation.

The proceeds of the offering will be used for drug formulation, toxicology studies and general working capital purposes. The offering is subject to acceptance by the TSX-V.

There is no material fact or material change about the company that has not been generally disclosed.

The company has terminated its non-brokered private placement of common shares announced on Jan. 7, 2025, which was made to purchasers pursuant to the listed issuer financing exemption under Part 5A of National Instrument 45-106 -- Prospectus Exemptions.

About Marvel Biosciences Corp.

Marvel Biosciences is a Calgary-based, preclinical-stage pharmaceutical development biotechnology company. The company is developing MB-204, a novel fluorinated derivative of the approved anti-Parkinson's drug Istradefylline, the only clinically approved adenosine A2a antagonist. A significant and growing body of scientific evidence suggests drugs that block the adenosine A2a receptor, such as MB-204, could be useful in treating other neurological diseases, such as autism, depression and Alzheimer's disease. The company is actively investigating its potential in addressing other neurodevelopmental disorders, such as Rett syndrome and Fragile X syndrome, to expand its therapeutic reach.

We seek Safe Harbor.