Bioasis Technologies Inc. Announces Warrant Extension and Repricing

Bioasis Technologies Inc. (“Bioasis” or the “Company”) (OTCQB:BIOAF; TSX.V:BTI), a pre-clinical, research-stage biopharmaceutical company developing its proprietary xB3 TM platform technology for the delivery of therapeutics across the blood-brain barrier (“BBB”) and the treatment of central nervous system (“CNS”) disorders in areas of high unmet medical need, including brain cancers and neurodegenerative diseases, today announced that it has applied for approval from the TSX Venture Exchange to extend the expiry date of 4,588,978 common share purchase warrants issued to subscribers pursuant to the private placement of units which closed on May 21, 2019 and to amend the exercise price of the warrants. Bioasis intends to extend the expiry date of the warrants from May 21, 2023 until May 21, 2024 and to reduce the exercise price from $0.60 to $0.36.

All other terms of the warrants will remain unchanged for the extended exercise period. The extension and repricing is subject to approval from the TSX Venture Exchange.

About Bioasis

Bioasis Technologies Inc. is a biopharmaceutical company developing the xB3™ platform, a proprietary technology for the delivery of therapeutics across the BBB and the treatment of CNS disorders in areas of high unmet medical need, including brain cancers and neurodegenerative diseases. The delivery of therapeutics across the BBB represents the final frontier in treating neurological disorders. The in-house development programs at Bioasis are designed to develop symptomatic and disease-modifying treatments for brain-related diseases and disorders. The Company maintains headquarters in Guilford, Conn., United States. Bioasis trades on the TSX Venture Exchange under the symbol “BTI” and on the OTCQB under the symbol “BIOAF.” For more information about the Company, please visit www.bioasis.us.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

BTI-FIN

View source version on businesswire.com: https://www.businesswire.com/news/home/20200129005616/en/

On behalf of the Board of Directors of Bioasis Technologies Inc. Deborah Rathjen [e-mail] [phone]