CEO.CA Chairman's Briefing

Toronto, Ontario--(Newsfile Corp. - October 10, 2024) - Braxia Scientific Corp. (CSE: BRAX) (OTC Pink: BRAXF) (FSE: 4960) ("Braxia", or the "Company"), is pleased to announce the voting results from its Annual General and Special Meeting of Shareholders held on Wednesday, October 9, 2024. A total of 9.9% of the issued and outstanding common shares of the Company were represented either in person or by proxy at the meeting.

On a vote by ballot, the following 3 nominees proposed by the Company were elected as Directors of Braxia Scientific to serve until the Company's next Annual Meeting of Shareholders or until their successors are elected or appointed, with shares represented at the meeting voting in favor of individual nominees as follows:

 
In addition to the election of all nominees listed as directors in the management information circular, dated August 27, 2024 (the "Circular"), Braxia shareholders approved all other resolutions placed before the meeting. These included appointing DMCL as auditors for the Company for the ensuing year and the special resolution approving a sale of all or substantially all of the Company's assets in connection with the Company's proposed transaction (the "Transaction") with Kris Kratiuk (the "Purchaser"), and in particular sale of the assets of the Canadian Rapid Treatment Center of Excellence Inc., the Company's wholly-owned subsidiary and clinic operator, all as more particularly described in the Circular. The Company intends to proceed to close the Transaction with the Purchaser as soon as possible.

For more details on the matters covered at the annual meeting, please refer to the Company's management information circular available on SEDAR+ at www.sedarplus.ca. Final voting results on all matters voted on at the annual meeting will also be filed on SEDAR+.

About Braxia Scientific Corp.

Braxia Scientific is a medical research and telemedicine company with a clinic that provide innovative ketamine treatments for persons with depression and related disorders. Through its medical solutions, Braxia aims to reduce the illness burden of brain-based disorders, such as major depressive disorder among others. Braxia is primarily focused on owning and operating multidisciplinary clinics, providing treatments in-person and virtually for mental health disorders. Through its wholly owned subsidiary, Braxia Health (formerly the Canadian Rapid Treatment Center of Excellence Inc.), operates a multidisciplinary community-based clinic offering rapid-acting treatments for depression located in Mississauga.

ON BEHALF OF THE BOARD

"Dr. Roger S. McIntyre"
Dr. Roger S. McIntyre

Chairman & CEO

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The CSE has not reviewed and does not accept responsibility for the accuracy or adequacy of this release.

Forward-looking Information Cautionary Statement

This news release contains forward-looking statements within the meaning of applicable securities laws. All statements that are not historical facts, future estimates, plans, programs, forecasts, projections, objectives, assumptions, expectations, or beliefs of future performance are "forward-looking statements."

Forward-looking statements include statements about the intended promise of ketamine-based treatments for depression, the potential for ketamine or other psychedelics to treat other mental health conditions, the ability of Braxia's business strategies, including in telemedicine, to address the unmet need for mental health disorders or expand or accelerate the growth of Braxia. Such forward- looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results, events, or developments to be materially different from any future results, events or developments expressed or implied by such forward-looking statements. Such risks and uncertainties include, among others, the failure of ketamine, psilocybin and other psychedelics to provide the expected health benefits and unanticipated side effects, dependence on obtaining and maintaining regulatory approvals, including acquiring and renewing federal, provincial, municipal, local or other licenses and engaging in activities that could be later determined to be illegal under domestic or international laws. Ketamine and psilocybin are currently Schedule I and Schedule III controlled substances, respectively, under the Controlled Drugs and Substances Act, S.C. 1996, c. 19 (the "CDSA") and it is a criminal offence to possess such substances under the CDSA without a prescription or a legal exemption. Health Canada has not approved psilocybin as a drug for any indication, however ketamine is a legally permissible medication for the treatment of certain psychological conditions. It is illegal to possess such substances in Canada without a prescription.

These factors should be considered carefully, and readers are cautioned not to place undue reliance on such forward-looking statements.

Although the Company has attempted to identify important risk factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other risk factors that cause actions, events or results to differ from those anticipated, estimated or intended. Additional information identifying risks and uncertainties that could affect financial results is contained in the Company's filings with Canadian securities regulators, including the Amended and Restated Listing Statement dated April 15, 2021 and its most recent MD&A, which are available at www.sedar.com. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in forward-looking statements

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/226255