Vancouver, British Columbia--(Newsfile Corp. - May 26, 2023) - Genix Pharmaceuticals Corporation (TSXV: GENX) (OTCQB: GENPF) ("GENIX" or the "Company") is pleased to report the results of the Annual General Meeting of shareholders held on May 18, 2023 (the "AGM"). Each of the director nominees proposed by management for election were elected to the Board of Directors: Sina Pirooz, Mahmoud Aziz, Kevin Bottomley, Jamie Lewin, and Paul Chow.

In addition, the following resolutions presented below were also voted overwhelmingly in favour by shareholders at the AGM.

  • Setting the number of directors for the ensuing year at five (5);
  • Re-appointment of Buckley Dodds CPA, Chartered Professional Accountants, as auditor of the Company for the coming year and authorizing the directors to determine the auditor's remuneration;
  • Re-approval of the Company's Stock Option Plan for the following year; and
  • Re-pricing of Certain existing Options

The Company would like to express its gratitude to Mr. Darryl Yea for his invaluable support and contributions acting as the Chairman of the board since 2020. We extend our sincerest thanks and best wishes to him for all his future endeavors.

The Board of Directors has elected Mr. Mahmoud Aziz to act as the Company's Chairman of the Board and will continue his role as President of Genix.

Genix would like to thank all the shareholders for their participation and continued support.

About Genix

Genix Pharmaceuticals Corporation is a novel nutraceutical and generic ophthalmic drugs company that is focused on the research, development, manufacture, licencing, and sales of innovative healthcare products.

In particular, these products include evidence-based, proprietary over-the-counter ("OTC") nutraceuticals, and other single molecule generic drugs that have been shown to deliver consistent and verifiable results in various therapeutic areas.

At Genix, we understand the importance of scientific advancement and continuously strive to develop new and innovative products. Our team remains committed to addressing the health needs of consumers and supporting their well-being.

On Behalf of the Board of Directors,
"Mahmoud Aziz"

Mr. Mahmoud Aziz
President, Chairman of the Board
Genix Pharmaceuticals Corporation
www.genixpharm.com

For more information regarding Genix Pharmaceuticals Corporation, please contact:

Kevin Bottomley, Director
Tel: +1.604.609.6199
kbottomley@genixpharm.com

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Cautionary Note Regarding Forward-Looking Statements: This release contains forward-looking statements that involve risks and uncertainties. These statements may differ materially from actual future events or results and are based on current expectations or beliefs. For this purpose, statements of historical fact may be deemed to be forward-looking statements. In addition, forward-looking statements include statements in which the Company uses words such as "continue", "efforts", "expect", "believe", "anticipate", "confident", "intend", "strategy", "plan", "will", "estimate", "project", "goal", "target", "prospects", "optimistic" or similar expressions. These statements by their nature involve risks and uncertainties, and actual results may differ materially depending on a variety of important factors, including, among others, the Company's ability and continuation of efforts to timely and completely make available adequate current public information, additional or different regulatory and legal requirements and restrictions that may be imposed, and other factors as may be discussed in the documents filed by the Company on SEDAR (www.sedar.com), including the most recent reports that identify important risk factors that could cause actual results to differ from those contained in the forward-looking statements. The Company does not undertake any obligation to review or confirm analysts' expectations or estimates or to release publicly any revisions to any forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. Investors should not place undue reliance on forward-looking statements.

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