REG-PanGenomic Health Inc: PanGenomic Health Signs Non-Binding Letter of intent for an Exclusive Special Purpose Licence of the CyberPatient AI Medical Education Platform

Pangenomic HealthAnnouncement

30/05/2023 12:45

30 May 2023

PanGenomic Health Inc.

(“PanGenomic” or the “Company”)

PanGenomic Health Signs Non-Binding Letter of intent for an Exclusive Special
Purpose Licence of the CyberPatient AI Medical Education Platform

Vancouver, British Columbia, Canada, May 30, 2023 – PanGenomic Health Inc.
("PanGenomic Health" or the "Company") (CSE: NARA) (AQSE: NARA), is pleased to
announce that it has entered into a non-binding letter of intent dated May 26,
2023 ("LOI") with Interactive Health Inc. ("IHI"), whereby PanGenomic Health
will license IHI's CyberPatient AI medical education platform ("CyberPatient
AI Platform") for the exclusive use in the consumer, public health, and
complementary and alternative medicine sectors ("CyberPatient Licence").

“We are thrilled to welcome the CyberPatient AI Platform to PanGenomic. Its
digital twin technology will enhance our Nara self-care platform, providing a
personalised, visual health journey for our users”, said Maryam Marissen,
CEO of PanGenomic Health. “It is an important step in empowering individuals
and their natural healthcare practitioners with cutting-edge tools to better
understand and utilise multi-dimensional health data, AI insights, and genomic
data, contributing to our mission of improving health care through advanced
technology.”

Dr. Karim Qayumi, CEO of Interactive Health Inc. added, “We are excited to
collaborate with the PanGenomic Health team in their bold vision for improved
health outcomes for individuals around the world through greater awareness of
evidence-based, personalised natural health and wellness solutions. Our
CyberPatient Platform has been designed to meet medical gold standards, and a
combined Nara and CyberPatient AI Platform can bring tremendous benefits for
public health.”

The proposed terms of the LOI, which are subject to change as diligence and
negotiations progress, include:
* The Company will acquire the CyberPatient Licence from IHI for an aggregate
purchase price of C$5,250,000, payable by the issuance of C$2,250,000 worth of
the Company's Class A Common Shares at a per share price to be set prior to
execution of a definitive agreement, or at such price as may be required by
the Canadian Securities Exchange or Aquis Stock Exchange ("Exchanges") and a
cash payment of C$3,000,000. 
* IHI will provide the Company with an exclusive and perpetual special purpose
license to develop and operate an interactive platform using the CyberPatient
AI Platform for the public health, consumer and CAM markets. 
* The Company and IHI have agreed to an exclusivity period until 26 July 2023
in order to negotiate and sign a definitive agreement.
The proposed transaction is subject to the negotiation and execution of
definitive documentation, the performance of any closing conditions,
satisfactory completion of the respective due diligence investigations of each
of the parties and the receipt of any required approvals from the Exchanges.
The proposed issuance of the Class A Common Shares is not anticipated to
trigger a change of control scenario under the rules of the Exchanges. The
Company also intends to pursue financing to fund the cash portion of the
purchase price for the CyberPatient Licence. There can be no assurance that
the proposed transaction will be completed as proposed or at all.

About Interactive Health

IHI is a digital technology development company focused on the medical and
health education sector. IHI produces and sells digitally enhanced,
interactive, competency-based learning tools for medical schools and
healthcare learning centers to address the gap that exists between the theory
and practice of medicine. IHI's flagship product, CyberPatient, is a simulated
virtual hospital with 130 digitally enhanced simulated patients accessible by
all students and educators anytime from anywhere.
 

About PanGenomic Health

PanGenomic Health is a precision health company that has developed a self-care
digital platform to deliver personalised, evidence-based information about
natural treatments. The Company’s initial focus is to support mental health.
Registered as a British Columbia benefit company, PanGenomic Health's mission
is to promote and improve the health and wellness of people and society by
providing a technology platform that identifies plant-based solutions tailored
to the health profile of each individual.
 

The Directors of PanGenomic take responsibility for this announcement.

This announcement contains inside information for the purposes of Article 7 of
the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law
by virtue of the European Union (Withdrawal) Act 2018 ("MAR"), and is
disclosed in accordance with the Company's obligations under Article 17 of
MAR.
 

For more information, please contact:

Jerry Lai, Investor
Relations                                    
  Maryam Marissen, President & CEO
PanGenomic Health
Inc.                                           
PanGenomic Health Inc.
778 743
4642                                                            
778 743 4642
ir@pangenomic.com                                                 
info@pangenomic.com

Dr. Karim Qayumi, President & CEO
Interactive Health Inc.
604 484 1800
info@cyberpatient.ca

Novum Securities Limited, AQSE Corporate Advisor
David Coffman / George Duxberry
Tel: +44 (0)207 399 9400

Yellow Jersey PR
Charles Goodwin / Shiv Thambirajah / Soraya Jackson
Investor Relations, UK
Tel: +44 (0)20 3004 9512

This news release includes certain statements that may be deemed
“forward-looking statements”, including statements respecting the services
to be provided by PanGenomic Health and the consideration to be paid to
PanGenomic Health. The use of any of the words “anticipate”,
“continue”, “estimate”, “expect”, “may”, “will”,
“would”, “project”, “should”, “believe” and similar
expressions are intended to identify forward looking statements. Although
PanGenomic Health believes that the expectations and assumptions on which the
forward-looking statements are based are reasonable, undue reliance should not
be placed on the forward-looking statements because PanGenomic Health can give
no assurance that they will prove to be correct. There can be no assurance
that the proposed licensing transaction with Interactive Health Inc. will be
completed as proposed or at all. Since forward-looking statements address
future events and conditions, by their very nature they involve inherent risks
and uncertainties. These statements speak only as of the date of this News
Release. Actual results could differ materially from those currently
anticipated due to a number of factors and risks including various risk
factors discussed in PanGenomic Health’s disclosure documents which can be
found under PanGenomic Health’s profile on www.sedar.com.



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