SQI Diagnostics Announces New Capital Markets Consulting Agreement

Rhea-AI Summary

SQI Diagnostics Inc. (TSXV: SQD, OTCQB: SQIDF) announced a consulting agreement with Looking Glass Capital Consultants to seek up to $10 million in equity financing. The company focuses on respiratory health and precision medicine tests. Looking Glass expressed confidence in SQI's product pipeline aimed at improving lung health. However, the press release notes there are no assurances regarding the success of the financing or its terms. The company plans to provide updates on any successful negotiations in the future. Further information about SQI's offerings can be found on their website.

Positive

• Consulting agreement with Looking Glass to source up to $10 million in equity financing.
• Looking Glass is impressed with SQI's product pipeline for respiratory health.

Negative

• No assurances on the success of financing or the terms involved.

TORONTO, March 13, 2023 /PRNewswire/ - SQI Diagnostics Inc. ("SQI" or the "Company") (TSXV: SQD) (OTCQB: SQIDF), a leader in the science of lung health that develops and manufactures respiratory health and precision medicine tests today announces that it has entered into a new consulting agreement with Looking Glass Capital Consultants ("Looking Glass"), pursuant to which Looking Glass will assist the Company with identifying potential new sources of up to $10 million of equity financing.

Michael Ciardi of Looking Glass, which has offices in New York and London, stated "I am very much impressed with the pipeline of products SQI has in development and is looking forward to the commercialization of these products to help save countless of lives in the respiratory health arena." There can be no assurances as to whether Looking Glass will be successful in assisting the Company with any new financings nor can there be certainty with respect to the terms of any such new financing or financings. The Company will announce additional details relating to any new financing or financings in due course in the event that it is successful in negotiating and entering into definitive documentation relating to same.

About SQI Diagnostics

SQI Diagnostics is a leader in the science of lung health. The Company develops and manufactures respiratory health and precision medicine tests that run on SQI's fully automated systems. The Company's tests simplify and improve COVID-19 antibody monitoring, Rapid Acute Lung Injury testing, donor organ transplant informatics, and immunological protein and antibody testing. SQI Diagnostics is driven to create and market life-saving testing technologies that help more people in more places live longer, healthier lives. For more information, please visit www.sqidiagnostics.com.

Contacts:

Chief Financial Officer
Morlan Reddock
437-235-6563
mreddock@sqidiagnostics.com

Investor Relations:
1-888-829-0849

FORWARD-LOOKING INFORMATION

This press release contains certain words and statements, which may constitute "forward-looking statements" within the meaning of applicable securities laws relating to future events or future performance and reflect the current expectations and assumptions of the Company regarding its growth, results of operations, performance, business prospects and opportunities. These statements generally can be identified by use of forward-looking words such as "may", "would", "could", "will", "should", "expect", "plan", "estimate", "anticipate", "intends", "believe", "potential", or "continue" or the negative thereof or similar variations. The Company's actual results and performance discussed herein could differ materially from those expressed or implied by such statements. Such statements are qualified in their entirety by the inherent risks and uncertainties surrounding future expectations. Important factors that could cause actual results to differ materially from expectations include, among other things, general economic and market factors, competition, the effect of the global pandemic and consequent economic disruption, and the factors detailed in the Company's ongoing filings with the securities regulatory authorities, available at www.sedar.com. Although the forward-looking statements contained herein are based on what we consider to be reasonable assumptions based on information currently available to us, there can be no assurance that actual events, performance or results will be consistent with these forward looking statements, and our assumptions may prove to be incorrect. Readers are cautioned not to place undue reliance on these forward-looking statements. The Company undertakes no obligation to publicly update or revise any forward-looking statements either as a result of new information, future events or otherwise, except as required by applicable law.

Neither 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.

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SOURCE SQI Diagnostics Inc.

FAQ

What financing is SQI Diagnostics seeking?

SQI Diagnostics is seeking up to $10 million in equity financing through a consulting agreement with Looking Glass Capital Consultants.

Who is assisting SQI Diagnostics with its financing?

Looking Glass Capital Consultants will assist SQI Diagnostics in identifying potential new sources of financing.

What is the focus of SQI Diagnostics' products?

SQI Diagnostics focuses on respiratory health and precision medicine tests.

What did Looking Glass Capital say about SQI Diagnostics?

Looking Glass Capital expressed confidence in SQI's product pipeline aimed at improving lung health.

Are there guarantees regarding the financing success for SQI Diagnostics?

The press release states there are no assurances regarding the success or terms of the financing.