Vext Science investor Nguyen sells 20,340 shares

Executive Summary

• Jason T. Nguyen filed an early warning report detailing the sale of 20,340 Class A common shares and the conversion of multiple voting shares in Vext Science Inc.
• The transaction resulted in a reduction of Mr. Nguyen's beneficial ownership of multiple voting shares from approximately 73.3% to 72.5% and subordinate voting shares from approximately 20.52% to 19.7%.
• Proceeds from the sale totaled $305,100 (U.S.), which were applied as partial repayment of a promissory note owed by Mr. Nguyen to the company.

Key Details

• Transaction Date: December 24, 2025 (Agreement) / December 31, 2025 (Completion).
• Shares Sold: 20,340 Class A common shares.
• Share Conversion: 20,340 multiple voting shares were converted into subordinate voting shares at a ratio of 1:100 (each multiple voting share converts to 100 subordinate voting shares).
• Pre-Transaction Holdings:
  • 493,261 multiple voting shares (~73.3% of issued/outstanding multiple voting shares).
  • 1,425,300 subordinate voting shares (~20.52% of issued/outstanding subordinate voting shares on a partially diluted basis).
  • 100,000 options to purchase subordinate voting shares.
• Post-Transaction Holdings:
  • 473,291 multiple voting shares (~72.5% of issued/outstanding multiple voting shares).
  • 1,425,300 subordinate voting shares (~19.7% of issued/outstanding subordinate voting shares on a partially diluted basis).
  • 100,000 options to purchase subordinate voting shares.
• Financial Consideration: Aggregate proceeds of $305,100 (U.S.).
• Use of Proceeds: Paid to Vext Science Inc. as partial repayment of a promissory note issued by Mr. Nguyen.
• Future Intent: Mr. Nguyen stated no present intention to dispose of or acquire further securities, except pursuant to long-term incentive plans, though he may participate in future financings or market transactions.
• Regulatory Context: Filed pursuant to National Instrument 62-104 and National Instrument 62-103.

Notable Quotes

• "Mr. Nguyen has no present intention to dispose of or acquire further securities of the company, other than pursuant to long-term incentive plans adopted by the company."
• "Mr. Nguyen may, in the future, participate in financings and/or acquire or dispose of securities of the company in the market, privately or otherwise, as circumstances or market conditions warrant."