Related Party Transaction

Ondine Biomedical Inc. (AIM: OBI), a Canadian life sciences company, announces the following updated related party transaction and continued financial support from its Founding Shareholders with interim funding.

On 30 October 2024, Carolyn Cross, CEO, provided a loan (the "Loan") of C$400,000 to the Company for additional working capital ahead of securing longer term financing. The Loan has no interest and no specific terms of repayment. The Loan is deemed to constitute a related party transaction for the purpose of AIM Rule 13. The Company's Independent Directors, having consulted with Singer Capital Markets, the Company's nominated adviser, consider that the terms of the Loan are fair and reasonable insofar as Shareholders are concerned. Founding shareholders, Carolyn and Robert Cross, who jointly own 49.5% of the Company, have indicated they will continue to support the Company with short term financing on similar favourable terms to extend the runway while the Company secures longer term financing. The Company remains confident in its ability to secure longer term finance in Q4 this year to execute its growth plans.

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