San Diego, California--(Newsfile Corp. - June 3, 2026) - Thiogenesis Therapeutics Corp. (TSXV: TTI) ("Thiogenesis" or the "Company"), a clinical-stage biotechnology company developing a next-generation cysteamine-based therapy for rare diseases, is pleased to announce that, further to its news releases of May 11 and June 1, 2026, it has completed an oversubscribed non-brokered private placement (the "Offering") through the issuance of 18,143,700 common shares (the "Offered Shares") at a price of C$0.50 per Offered Share for gross proceeds of C$9,071,850. All securities issued in connection with the Offering are subject to a four-month plus one day hold period ending October 2, 2026. The Offering has received conditional acceptance from the TSX Venture Exchange and remains subject to final acceptance.

In connection with the Offering, the Company paid certain qualified finders: (i) a cash finder's fee equal to 7% of the gross proceeds raised from subscribers introduced by such finders, and (ii) non-transferable finder's options equal to 7% of the Offered Shares issued to such subscribers. Each finder's option entitles the holder to acquire one common share at a price of C$0.60 per share for a period of three years. In total, the Company paid C$561,529.50 in finder's fees and issued 780,059 finder's options.

An independent director of the Company participated in the Offering and acquired 150,000 Offered Shares. The issuance to such insider constitutes a "related party transaction" under Multilateral Instrument 61-101 ("MI 61-101"). The Company relied on exemptions from the formal valuation and minority shareholder approval requirements in accordance with MI 61-101 and applicable policies of the TSX Venture Exchange.

Net proceeds from the Offering will be used to advance the clinical development of TTI-0102, including an investigator-initiated study in cystinosis and a Phase 2a clinical study in Leigh syndrome spectrum, together with formulation and manufacturing activities, regulatory engagement, and general working capital and corporate purposes.

In connection with the Offering, the Company engaged Bloom Burton Securities Inc. as a financial and strategic advisor on a non-exclusive basis. Bloom Burton provided advisory services to the Company in respect of the oversubscribed Offering. The Company paid Bloom Burton Securities Inc. a cash fee of C$50,000 for its advisory services. Bloom Burton Securities Inc. does not own any securities of the Company.

About Thiogenesis

Based in San Diego, California, Thiogenesis Therapeutics Corp. (TSXV: TTI) (OTCQX: TTIPF) is a clinical-stage biotechnology company developing TTI-0102, a novel once-daily, controlled-release cysteamine prodrug designed to improve tolerability and dosing relative to existing therapies. The Company is focused on TTI-0102 in nephropathic cystinosis, where it is in late-stage development. The Company is also planning to conduct a Phase 2a clinical study in Leigh syndrome spectrum disorders.

Forward Looking Statements

Some statements contained in this news release are forward-looking information within the meaning of Canadian securities laws. Generally, forward-looking information can be identified by the use of forward-looking terminology such as plans, expects, is expected, budget, scheduled, estimates, forecasts, intends, anticipates, believes or variations of such words and phrases including negative or grammatical variations or statements that certain actions, events or results may, could, would, might or will be taken, occur or be achieved or the negative connotation thereof. Investors are cautioned that forward-looking information is inherently uncertain and involves risks, assumptions and uncertainties that could cause actual facts to differ materially. There can be no assurance that future developments affecting the Company will be those anticipated by management. The forward-looking information contained in this press release constitutes management's current estimates, as of the date of this press release, with respect to the matters covered thereby. We expect that these estimates will change as new information is received. While we may elect to update these estimates at any time, we do not undertake to update any estimate at any particular time or in response to any event.

Neither the TSX Venture Exchange nor its Regulation Services Provider as that term is defined in the policies of the TSX Venture Exchange nor the OTC Markets Group Inc. accepts responsibility for the adequacy or accuracy of this news release.

This news release is not an offer of securities for sale in the United States. The securities may not be offered or sold in the United States absent registration or an exemption from registration under U.S. Securities Act of 1933, as amended - the U.S. Securities Act. The Company has not registered and will not register the securities under the U.S. Securities Act. The Company does not intend to engage in a public offering of their securities in the United States.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/299857

Source: Thiogenesis Therapeutics, Corp.