ZYUS Life Sciences Announces Cancellation of LIFE Offering and Launch of Private Placement

Executive Summary

• ZYUS Life Sciences cancels its previously announced brokered “LIFE Offering” and will not receive any proceeds from that transaction.
• The company plans a new non‑brokered private placement of up to 11,111,111 units at C$0.63 per unit, targeting gross proceeds of up to C$7 million.
• A related party revolving loan facility with its CEO/President is amended, increasing the limit to C$2 million (C$1.1 million currently outstanding) and setting interest at 1% per annum.

Key Details

• Cancellation of LIFE Offering: Previously announced on Jan 12, 2026 and restated Feb 9, 2026; no securities will be issued and no proceeds will be received.
• New Private Placement Terms:
• Up to 11,111,111 units (each unit = 1 common share + ½ of one common‑share purchase warrant).
• Unit price: C$0.63 → maximum gross proceeds of C$7 million.
• Warrants exercisable at C$0.85 per share, valid for 24 months from issuance.
• Company may pay eligible finders a cash fee based on the gross proceeds raised.
• Revolving Loan Amendment:
• Facility limit increased from C$1.1 million to C$2 million.
• Interest rate for advances after the amendment date set at 1% per annum.
• Current outstanding balance: C$1.1 million.
• Related‑Party Transaction: Lender (President/CEO/Secretary and director) abstained from board vote; transaction approved by independent directors under MI 61‑101 exemptions.
• Use of Proceeds: Funds from the amended revolver will be used for general working capital purposes.

Notable Quotes

(No direct quotes were provided in the release.)