Sharp Therapeutics Announces Non-Brokered Private Placement and Provides Operational Update

Pittsburgh, Pennsylvania and Toronto, Ontario--(Newsfile Corp. - July 15, 2026) - Sharp Therapeutics Corp. (TSXV: SHRX) (OTCQB: SHRXF) ("Sharp" or the "Company") is pleased to announce that it is arranging a non-brokered private placement to raise gross proceeds of up to C$1,365,000 (the "Offering"). The Offering will consist of common shares in the capital of the Company (the "Common Shares") priced at not less than C$0.91 per Common Share. The Company expects the Offering to close in Q3 2026. The net proceeds of the Offering will be used for general working capital purposes.

Newlin Investment Company 1, LLC, an entity wholly owned by William R. Newlin, intends to subscribe for approximately US$200,000 as part of the Offering on the same terms as all other subscribers to the Offering. As a director and Chairman of the Company, Mr. Newlin is considered an insider.

The participation of the Company's insiders in the Offering will constitute a related-party transaction for the purposes of Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions ("MI 61-101"). The Company is exempt from the requirements to obtain a formal evaluation or minority shareholder approval in connection with the insider participation in reliance on sections 5.5(a) and 5.7(1)(a) of MI 61-101, as neither the fair market value of the securities issued, nor the fair market value of the consideration for the securities issued will exceed 25 per cent of the Company's market capitalization (as calculated in accordance with MI 61-101).

All securities to be issued will be subject to a four (4) month hold period from the date of issuance and subject to TSX Venture Exchange approval. The securities offered have not been registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements.

Operational Update

The Company has elected to advance an alternative lead candidate in its lead program. The Company believes this decision delays its need for certain capital by approximately 6 to 12 months and reduces the amount of capital the Company requires in the near term relative to its previously contemplated financing plans.

Considering the lead program update and the resulting reduction in near-term capital requirements, the Company and STX Partners ("STX") have mutually agreed to terminate the previously announced letter agreement relating to a proposed financing of up to approximately US$10,000,000, together with the related conditional share purchase commitment from STX.

About Sharp Therapeutics Corp.

First-Choice Therapies for Genetic Diseases

Sharp Therapeutics is a preclinical-stage company developing first-choice small-molecule therapeutics for genetic diseases. The Company's discovery platform combines novel high throughput screening technologies, with compound libraries computational optimized based on the physics and biology of cellular trafficking defects and allosteric activation of proteins. The platform produces small molecule compounds that restore activity in mutated proteins giving the potential to treat genetic disorders with conventional pill-based medicines.

Caution Regarding Forward-Looking Information

Certain statements contained in this press release constitute "forward-looking information" as such term is defined in applicable Canadian securities legislation. The words "may", "would", "could", "should", "potential", "will", "seek", "intend", "plan", "anticipate", "believe", "estimate", "expect" and similar expressions are intended to identify forward-looking information. All statements other than statements of historical fact may be forward-looking information. Such statements reflect Sharp's current views and intentions with respect to future events, and current information available to Sharp, and are subject to certain risks, uncertainties and assumptions. Many factors could cause the actual results, performance or achievements that may be expressed or implied by such forward-looking information to vary from those described herein should one or more of these risks or uncertainties materialize. Should any factor affect Sharp in an unexpected manner, or should assumptions underlying the forward-looking information prove incorrect, the actual results or events may differ materially from the results or events predicted. Any such forward-looking information is expressly qualified in its entirety by this cautionary statement. Moreover, Sharp does not assume responsibility for the accuracy or completeness of such forward-looking information. The forward-looking information included in this press release is made as of the date of this press release and Sharp undertakes no obligation to publicly update or revise any forward-looking information, other than as required by applicable law.

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

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To view the source version of this press release, please visit https://www.newsfilecorp.com/release/305226

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