Bioasis Announces Resignation of Board of Directors

NEW HAVEN, Conn. - Sept. 17, 2024 - PRLog -- BIOASIS TECHNOLOGIES INC. (TSXV:BTI.H) (the "Company" or "Bioasis") a biopharmaceutical company with a differentiated, proprietary platform (designated "xB3 ™") for delivering therapeutics across the blood-brain barrier ("BBB") and the treatment of central nervous system ("CNS") disorders in areas of high unmet medical need announced today that all of the members of its board of directors have resigned. Since the Company announced the suspension of operations in June 2023, it has continued to pursue a variety of potential strategic alternatives including the sale of some or all of its assets, mergers and reverse takeover transactions. These efforts have not yielded any actionable transactions.

The Company has exhausted its cash resources, remains in default of its obligations to its secured lenders and its shares continue to be subject to a cease trade order issued by the British Columbia Securities Commission due to the Company's failure to file financial statements, MD&A and related certifications starting in 2023.

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.