Alzai Health Corp. Files Final Prospectus in Connection With Initial Public Offering

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TORONTO, April 22, 2026 (GLOBE NEWSWIRE) — Alzai Health Corp. (TSXV: ALZI) (“Alzai” or the “Corporation”) is pleased to announce that it has obtained a receipt for its final long form prospectus dated April 21, 2026 (the “Prospectus”) filed with the securities regulatory authorities in British Columbia, Alberta and Ontario for an initial public offering of a minimum of 8,000,000 units of the Corporation (the “Units”) and up to a maximum of 10,000,000 Units at a price of $0.40 per Unit for gross proceeds of a minimum of $3,200,000 and a maximum of $4,000,000 (the “Offering”).

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Each Unit consists of one common share in the authorized share structure of the Corporation (a “Common Share”) and one-half of one Common Share purchase warrant (each whole warrant, a “Warrant”). Each Warrant will entitle the holder thereof to purchase one Common Share (a “Warrant Share”) at a price of $0.60 per Warrant Share for a period of ‎24 months ‎following the Closing Date (as defined herein).

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The warrants are subject to an acceleration right held by the Corporation, such that in the event that the closing price of the Corporation’s shares on the TSX Venture Exchange (“TSXV”) is equal to or greater than $0.90 for any 10 consecutive trading day period, the Corporation may provide notice to the holders of the Warrants that the expiry time of the Warrants shall be accelerated to the date which is 30 days from the date of such notice, subject to the approval of the TSXV.

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Haywood Securities Inc. (the “Agent”) is acting as the exclusive agent for the Offering, on a best efforts basis, pursuant to an agency agreement between the Corporation and the Agent. The Agent will receive commission equal to 7% of the proceeds of the Offering (reduced to 2% of proceeds from investors on the president’s list), agent’s warrants equal to 7% of the total number of Units issued in the Offering (reduced to 2% of Units issued to investors on the president’s list) (the “Agent’s Warrants”), and a corporate finance fee of $45,000 (of which $22,500 is payable in cash and $22,500 is payable in Common Shares at a deemed price of $0.40 per Common Share). Each Agent’s Warrant will be exercisable into one Common Share at $0.40 per share for a period of 24 months from the date of issuance.

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The closing of the Offering is expected to occur on or about May 21, 2026 (the “Closing Date”), or such date as may be mutually agreed to by the Corporation and the Agent, and is subject to customary closing conditions including the receipt of all necessary regulatory approvals.

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The Common Shares are expected to commence trading on the TSXV at the market open on or about May 21, 2026 under the trading symbol “ALZI”.

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The net proceeds from the Offering will be used for research and development, sales and marketing and general working capital, as more particularly described in the Prospectus.

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Access to the Prospectus, and any amendment thereto, is provided in accordance with securities legislation relating to procedures for providing access to a prospectus and any amendment thereto. The Prospectus, and any amendment thereto, is now accessible on the Corporation’s SEDAR+ profile at www.sedarplus.ca. An electronic or paper copy of the Prospectus and any amendment may also be obtained, without charge, by emailing [email protected] and providing the Corporation an email address or address.