NurExone Announces Completion of Securities for Debt Settlements

Calgary, Alberta--(Newsfile Corp. - November 8, 2022) - NurExone Biologic Inc. (TSXV: NRX) (FSE: J90) (formerly, EnerSpar Corp. or "EnerSpar") (the "Company" or "NurExone"), a biopharmaceutical company developing biologically-guided exosome therapy for patients with traumatic spine injuries, is announcing today that it has completed its securities for debt settlements, previously announced by the Company on September 1, 2022 and September 19, 2022.

The Company agreed to settle debts in the aggregate amount of CAD$136,155.83 with the issuance of 170,195 common shares of the Company at a deemed price of CAD$0.80 per share (including the issuance of 117,033 by James (Jay) Richardson, a director of the Company). The Company also agreed to settle additional debts in the aggregate amount of CAD$75,000 with the issuance of 178,571 common shares of the Company at a deemed price of CAD$0.42 per share.

The common shares issued will be subject to a four-month plus one-day hold period pursuant to the policies of the TSX Venture Exchange.

About NurExone Biologic Inc.

NurExone Biologic Inc. is a TSXV listed pharmaceutical company that is, through its wholly-owned subsidiary, Nurexone Biologic Ltd., developing a platform for biologically-guided ExoTherapy to be delivered, non-invasively, to patients who suffered traumatic spinal cord injuries. ExoTherapy was conceptually demonstrated in animal studies at the Technion, Israel Institute of Technology. NurExone intends to translate the treatment to humans, and the company holds an exclusive worldwide license from the Technion and Tel Aviv University for the development and commercialization of the technology.

For additional information, please visit www.nurexone.com or follow NurExone on LinkedIn, Twitter, Facebook, or YouTube.

For more information, please contact:

Dr. Lior Shaltiel
Chief Executive Officer and Director
Phone: +972-52-4803034
Email: info@nurexone.com

For investors:
Investor Relations
IR@nurexone.com
+1 905-347-5569

DISCLAIMER AND READER ADVISORY

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) has in any way passed upon the merits of the contents of this press release and neither of the foregoing entities accepts responsibility for the adequacy or accuracy of this release or has in any way approved or disapproved of the contents of this press release.

FORWARD-LOOKING STATEMENTS

This press release contains certain forward-looking statements, including statements about the Company's future plans and intentions and completion of the shares for debt transaction. Wherever possible, words such as "may", "will", "should", "could", "expect", "plan", "intend", "anticipate", "believe", "estimate", "predict" or "potential" or the negative or other variations of these words, or similar words or phrases, have been used to identify these forward-looking statements. These statements reflect management's current beliefs and are based on information currently available to management as at the date hereof.

Forward-looking statements involve significant risk, uncertainties and assumptions. Many factors could cause actual results, performance or achievements to differ materially from the results discussed or implied in the forward-looking statements. These factors should be considered carefully and readers should not place undue reliance on the forward-looking statements. Although the forward-looking statements contained in this press release are based upon what management believes to be reasonable assumptions, the Company cannot assure readers that actual results will be consistent with these forward-looking statements. These forward-looking statements are made as of the date of this press release, and the Company assumes no obligation to update or revise them to reflect new events or circumstances, except as required by law.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/143545