Breaking News: Breathtec to Open New Drug Development Division, Signs LOI to acquire 100% of Clinical Stage Nash Pharmaceuticals Inc.

Breathtec Biomedical Inc. (OTCQB: BTHCF) (CSE: BTH) is pleased to announce that it will be opening a new drug development division and has signed a Letter of Intent (“LOI”) to acquire 100% of the shares of Nash Pharmaceuticals Inc. (“Nash Pharma”). Nash Pharma is a clinical stage pharmaceutical development company focused on drug repurposing in the areas of non-alcoholic steatohepatitis (NASH), chronic kidney disease (CKD) and inflammatory bowel disease (IBD). Through its ongoing research programs, Nash Pharma has developed data that supports the advancement of up to 7 drug candidates into phase II trials.

Pursuant to the LOI, the Company will enter into a definitive agreement whereby the Company, prior to the closing of the transaction, will complete a consolidation of its securities on a 2-to-1 basis.  This will result in the Company having 28,682,012 common shares, 6,005,833 outstanding warrants and 2,147,500 outstanding options.  Further, the Company will acquire all of the issued and outstanding common shares of Nash Pharma in consideration for the issuance by the Company of 15,800,000 common shares of the Company and will issue an additional 14,800,000 warrants at a price equal to the exercise price of the Nash Pharma warrants.

Concurrent with the transaction, the Company anticipates that it will complete a private placement financing of its securities to arm’s length parties for aggregate gross proceeds of up to CDN$1,000,000, at a price per security to be determined based on the context of the market, with such proceeds to be allocated towards funding development of the business division of Nash Pharma.

The Company is committed to and will continue to advance the research and development program for its FAIMS technology and will be providing an update to the market on its progress shortly.

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