EGF Health Increases Private Placement to $4 Million and Announces Name Change

Vancouver, British Columbia--(Newsfile Corp. - January 29, 2021) - EGF Health Holdings Corp. (the "Company") announced today that it has increased its private placement to up to 12,307,692 units at a price of $0.325 per unit for gross proceeds of up to $4,000,000. Each unit consists of one common share and a half warrant. Each whole warrant will entitle the subscriber to purchase an additional common share at an exercise price of $0.50 per share for a period of one year from the closing of the private placement.

The first tranche of the private placement consisting of 6,515,277 units and proceeds of $2,117,465 closed on January 8, 2021.

The proceeds from the private placement will be used for general working capital and for the closing of the MRVL Island Ventures Ltd. transaction. Finder's fees will be paid on the private placement.

The Company also announces that it will be effecting a name change to align it with the transaction that it is undertaking with MRVL Island Ventures Ltd. focusing on the pharmaceutical sector for veterinary applications and expects to be changed to MRVL Pet Pharmaceuticals Corp.

About EGF Health Holdings Corp.

EGF Health Holdings Corp. is a Vancouver, B.C. based early-stage life sciences and technology company seeking to acquire or develop business ventures in health and technologies.

EGF HEALTH HOLDINGS CORP.

Derrick Gaon
CEO and Director
derrickgaon@gmail.com

Notice Regarding Forward-Looking Statements

This news release contains "forward-looking statements," statements in this news release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations, or intentions regarding the future, including but not limited to, statements regarding the private placement, name change and transaction with MRVL.

Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with the life science and technology industries and difficulties associated with obtaining financing on acceptable terms. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that the beliefs, plans, expectations, and intentions contained in this news release are reasonable, there can be no assurance that such beliefs, plans, expectations, or intentions will prove to be accurate.

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