Satellos Announces Share Consolidation in Connection with Proposed Nasdaq Listing

Executive Summary

• Satellos Bioscience Inc. completed a 12‑for‑1 consolidation of its common shares, reducing the share count from ~185.5 M to ~15.46 M.
• The consolidation is intended to lift the per‑share price above US$3.00 to satisfy Nasdaq listing requirements; an application to list on Nasdaq under “MSLE” has been filed.
• All shareholder ownership percentages and voting rights remain essentially unchanged; stock options, pre‑funded warrants and fractional shares will be adjusted or rounded down accordingly.

Key Details

• Consolidation Ratio: 1 post‑consolidation share for every 12 pre‑consolidation shares.
• Effective Date: Market open on the Toronto Stock Exchange on or about January 30, 2026.
• Share Count Pre‑Consolidation: 185,507,153 common shares outstanding.
• Share Count Post‑Consolidation: Approximately 15,458,929 common shares expected to be outstanding.
• Nasdaq Listing Goal: Achieve a minimum trading price of US $3.00 per share; application submitted for listing under ticker “MSLE”.
• Ownership Impact: Percentage ownership and voting power remain substantially unchanged; fractional shares will be rounded down with no cash payment.
• Option & Warrant Adjustments: Outstanding stock options and pre‑funded warrants will be proportionally adjusted in number of issuable securities and exercise prices to reflect the consolidation.
• New Identifiers: CUSIP 80401L803; ISIN CA80401L8033.
• Shareholder Instructions: Registered shareholders received a transmittal letter with instructions to surrender certificates to Computershare Investor Services for replacement certificates. Non‑registered holders should follow their broker/nominee procedures.

Notable Quotes

“Effecting the share consolidation marks an important step forward to meeting the listing requirements for trading on the Nasdaq market,” said Frank Gleeson, co‑founder and CEO of Satellos. “We believe a Nasdaq listing will position us well to improve market visibility, enhance liquidity, and broaden investor access.”