Rigel Announces Extension of Warrants

Toronto, Ontario--(Newsfile Corp. - October 17, 2022) - Rigel Technologies Inc. (the "Company" or "Rigel") announces its intent to amend the terms of 500,000 outstanding warrants of the Company (the "Warrants") that were set to expire October 14, 2022. The Company plans to extend the expiry date for all the Warrants to the lessor of three (3) years or six (6) months after listing on a recognised Canadian stock exchange. All other terms of the Warrants remain the same.

FOR FURTHER INFORMATION CONTACT:

Jeremy Rozen, President and CEO
Tel: 905-883-9602
E-Mail: rozenjb@gmail.com

FORWARD-LOOKING STATEMENTS: Certain of the information contained in this news release may contain "forward-looking information". Forward-looking information and statements may include, among others, statements regarding the future plans, costs, objectives or performance of the Company or the assumptions underlying any of the foregoing. In this news release, words such as "may", "would", "could", "will", "likely", "believe", "expect", "anticipate", "intend", "plan", "estimate" and similar words and the negative form thereof are used to identify forward-looking statements. Forward-looking statements should not be read as guarantees of future performance or results, and will not necessarily be accurate indications of whether, or the times at or by which, such future performance will be achieved. Forward-looking statements and information are based on information available at the time and/or management's good-faith belief with respect to future events and are subject to known or unknown risks, uncertainties, assumptions and other unpredictable factors, many of which are beyond the Company's control. The Company does not intend, nor does the Company undertake any obligation, to update or revise any forward-looking information or statements contained in this news release to reflect subsequent information, events or circumstances or otherwise, except if required by applicable laws.

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