Grey Matters Announces the Closing of its Equity and Convertible Debenture Private Placement totalling CAD $1.12 Million

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VANCOUVER, British Columbia, Sept. 23, 2026 (GLOBE NEWSWIRE) — Grey Matters Health Inc. (the “Company” or “Grey Matters”) (CSE: GREY) (FRANKFURT: AGW0) (OTC: AGNPF), a Canadian healthcare company, is pleased to announce the increase and closing of the second and final tranche (the “ Second Tranche ”) of its private placement (the “ Offering ”) previously announced on August 20, 2026. Gross proceeds from the Second Tranche totalled CAD $520,000, consisting of $270,000 from the sale of 675,000 units at $0.40 (the “ Equity Units ”) and $250,000 from the sale of unsecured convertible debenture units (the “ Debenture Units ”). The private placement of Equity Units and Debenture Units is collectively referred as the Offering. The first tranche of the Offering closed on September 9, 2026 totalling CAD $600,000, consisting of $285,000 from the sale of 712,500 Equity Units and $315,000 from the sale of Debenture Units. With the closing of the Second Tranche, the Offering has now closed for total proceeds of $1,120,000.

Each Equity Unit, at an issue price of CAD $0.40, consists of one Class A common share in the capital of the Company (a “ Common Share “) and one Common Share purchase warrant (a “ Warrant “). Each Warrant entitles the holder to acquire one Common Share (a “ Warrant Share “) at an exercise price of CAD $0.60 (the “ Exercise Price “) per Warrant Share for a period of 36 months from the issuance date (the “ Expiry Date “).

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Each Debenture Unit consists of one debenture (a “ Convertible Debenture ”) in the principal amount of CAD $1,000 and 2,198 common share purchase warrants (a “ Debenture Warrant ”). The Convertible Debentures carry interest at a rate of 10% per annum from the closing date, payable semi-annually in arrears until the maturity date, which will be 24 months from the closing date of the Convertible Debentures or the conversion date of the Debentures. The outstanding principal and interest can be converted, at the option of the Convertible Debenture holder, into Common Share at a fixed price of CAD $0.455 per Common Share on or before the maturity date of the Convertible Debenture. The Company may from time to time, in its sole discretion, prepay all or a part of the principal amount and accrued interest without penalty. Each Debenture Warrant entitles the holder to acquire one Common Share (a “ Debenture Warrant Share ”) at an exercise price of CAD $0.55 per Debenture Warrant Share for a period of 36 months from the date of issuance.

The Company did not pay any cash finder’s fees or issue finders warrants to eligible finders in regards to the Second Tranche of the Offering.

The Company will use the proceeds of the Offering to advance its Alzheimer’s Disease program towards the opening of U.S.