SureNano Announces Non-Binding Letter of Intent to Negotiate Proposed Transaction of GlucaPharm Inc. for GLP-1 Drug Development

Executive Summary

• SureNano Science Ltd. has entered into a non‑binding LOI to acquire 100 % of GlucaPharm Inc., a privately held BC company holding exclusive rights to the GEP‑44 GLP‑1 pharmaceutical patent.
• The transaction is expected to be structured as a share exchange, with GlucaPharm shareholders receiving SureNano common shares that would represent under 20 % of SureNano’s post‑closing outstanding equity.
• The LOI outlines binding confidentiality and due‑diligence provisions; the definitive agreement remains subject to customary closing conditions, regulatory approvals and shareholder consent.

Key Details

• Target: GlucaPharm Inc., holder of exclusive rights to Syracuse University’s GEP‑44 GLP‑1 compound for diabetes/obesity treatment (non‑needle administration).
• Proposed Structure: Share exchange – SureNano will issue an aggregate number of its common shares to GlucaPharm shareholders in exchange for 100 % of GlucaPharm’s issued and outstanding common shares.
• Post‑Closing Ownership: GlucaPharm shareholders expected to own <20 % of SureNano’s total common share capital.
• Binding LOI Terms:
• Mutual confidentiality and due‑diligence access rights.
• Each party bears its own expenses.
• Mutual exclusivity of negotiations.
• Non‑Binding LOI Terms: Substantive share‑exchange terms (share ratio, valuation) are subject to negotiation after due diligence.
• Closing Conditions: Completion of customary due diligence; execution of a definitive agreement; receipt of all required regulatory and third‑party approvals; approval by GlucaPharm shareholders if applicable.
• Future Disclosure: SureNano will issue a subsequent news release with definitive agreement details once negotiations are finalized.
• Finder’s Fees: May be payable in accordance with CSE policies.

Notable Quotes

“SureNano is excited about the potential to bring GEP‑44, a novel GLP‑1 therapy with superior tolerability, into our portfolio and advance it toward commercialization,” – Charles MaLette, CEO, President, Director & Secretary, SureNano Science Ltd.