Broker Option

MYCELX Technologies Corporation (AIM: MYX), the clean water and clean air technology company, is pleased to announce that further to the announcement of the Proposed Placing, Subscription and Broker Option on 23 August 2024, the Broker Option has been exercised in respect of 48,543 new Common Shares (the "Broker Option Shares"), raising additional gross proceeds of £25,000 (c $33,000) for the Company.

The Broker Option Shares will be issued at a price of 51.5 pence per new Common Share (being the Issue Price) and on the same terms and conditions as the Placing, including the fact that they are to be issued into the new restricted line of Common Shares under the symbol MYXR.

The Placing, Subscription and Broker Option together result in a total gross fundraising of c.$0.93 million (c.£0.71 million*) for the Company, comprising the Placing raising c.$0.67 million (c.£0.51 million*), the Subscription raising c.$0.23 million (c.£0.18 million*), and the Broker Option raising £25,000 (c.$33,000*) (in each case before expenses).

Admission and dealings

Application will be made to the London Stock Exchange for a total of 1,380,791 new Common Shares ("New Common Shares"), in connection with the Placing, the Subscription and the Broker Option to be admitted to trading on AIM (the "Admission"). Admission of the Placing Shares, Subscription Shares and Broker Option Shares is expected to become effective and dealings commence at 8.00 a.m. on or around 4 September 2024.

The New Common Shares to be issued in connection with the Placing, Subscription and Broker Option, will when issued rank pari passu with the Existing Common Shares, including the right to receive future dividends.

Upon Admission, the New Common Shares issued pursuant to the Placing, Subscription and Broker Option will also trade in the Company's new restricted line of Common Shares under the symbol MYXR, and the New Common Shares, as represented by depositary interests ("Depository Interests"), will be held in the CREST system and will be segregated into a separate trading system within CREST identified with the marker "REG S" and USU624551318.

Total Voting Rights

Following Admission, the total number of Common Shares in the Company with voting rights is expected to be 24,363,814 with no Common Shares held in treasury. Therefore, the total number of voting rights in the Company will be 24,363,814 which may be used by shareholders as the denominator for the calculations by which they determine if they are required to notify their interest in, or a change to their interest in, the Company under the Financial Conduct Authority's Disclosure Guidance and Transparency Rules.

Terms and definitions used in this announcement shall have the same meaning as ascribed to them in the Company's announcements dated 23 August 2024 regarding the Proposed Placing, Subscription and Broker Option unless otherwise stated.

*Exchange rate of GBP:USD 1.3121 as at 12 noon on 22 August 2024, the last practicable date prior to the announcement of the Placing and Subscription.

Information to Distributors

Persons distributing this Announcement must satisfy themselves that it is lawful to do so. Persons (including without limitation, nominees and trustees) who have a contractual right or other legal obligations to forward a copy of this Announcement (or any part thereof) should seek appropriate advice before taking any action.

UK Product Governance Requirements

Solely for the purposes of the product governance requirements of Chapter 3 of the FCA Handbook Product Intervention and Product Governance Sourcebook (the "UK MiFIR Product Governance Requirements"), and disclaiming all and any liability, whether arising in tort, contract or otherwise, which any "manufacturer" (for the purposes of the UK MiFIR Product Governance Requirements) may otherwise have with respect thereto, the Fundraising Shares have been subject to a product approval process, which has determined that the Fundraising Shares are: (i) compatible with an end target market of retail investors and investors who meet the criteria of professional clients and eligible counterparties, each as defined in paragraphs 3.5 and 3.6 of COBS; and (ii) eligible for distribution through all permitted distribution channels (the "Target Market Assessment"). Notwithstanding the Target Market Assessment, distributors should note that: the price of the Fundraising Shares may decline and investors could lose all or part of their investment; the Fundraising Shares offer no guaranteed income and no capital protection; and an investment in the Fundraising Shares is compatible only with investors who do not need a guaranteed income or capital protection, who (either alone or in conjunction with an appropriate financial or other adviser) are capable of evaluating the merits and risks of such an investment and who have sufficient resources to be able to bear any losses that may result therefrom. The Target Market Assessment is without prejudice to any contractual, legal or regulatory selling restrictions in relation to the Fundraising. Furthermore, it is noted that, notwithstanding the Target Market Assessment, each of Canaccord Genuity will only procure investors who meet the criteria of professional clients and eligible counterparties.

For the avoidance of doubt, the Target Market Assessment does not constitute: (a) an assessment of suitability or appropriateness for the purposes of Chapters 9A or 10A respectively of COBS; or (b) a recommendation to any investor or group of investors to invest in, or purchase, or take any other action whatsoever with respect to the Fundraising Shares. Each distributor is responsible for undertaking its own target market assessment in respect of the Fundraising Shares and determining appropriate distribution channels.