Vancouver, British Columbia--(Newsfile Corp. - June 14, 2024) - Negev Capital Fund One, L.P. (the "Acquiror"), a shareholder of Filament Health Corp. ("Filament"), announces that on June 12, 2024, it was issued 42,284,443 common shares of Filament (the "Common Shares") from the conversion of a convertible note due July 13, 2024 ("Note") and the exercise of the Acquiror's outstanding warrants ("Warrants") to purchase Common Shares (collectively, the "Transaction"). In connection with the Transaction, the Acquiror exercised the Warrants in exchange for cash payment at CAD$0.05 per Common Share for aggregate gross proceeds to Filament of CAD$864,222.15 and converted the aggregate principal amount of the Debenture, being CAD$1,250,000.00, into 25,000,000 Common Shares at CAD$0.05 per Common Share.

Prior to the completion of the Transaction, the Acquiror beneficially owned and exercised control over 8,951,111 Common Shares, representing approximately 4.2% of the Common Shares issued and outstanding immediately prior to completion of the Transaction as of June 12, 2024.

Following the Transaction, the Acquiror has acquired, and holds, beneficial ownership of 51,235,554 Common Shares, representing approximately 20% of the Common Shares issued and outstanding as of June 14, 2024.

The Common Shares were acquired for investment purposes, and were issued as consideration for the conversion of the Note and exercise of the Warrants. The Acquiror does not currently have any plans or future intentions which relate to or would result in any of the events, transactions or circumstances enumerated in paragraphs (b) through (k) in the early warning report filed with this press release (the "Early Warning Report").

In accordance with applicable securities laws, the Acquiror may, from time to time and at any time, acquire additional Common Shares and/or other equity, debt or other securities or instruments (collectively, "Securities") of Filament in the open market or otherwise, and the Acquiror reserves the right to dispose of any or all of his Securities in the open market or otherwise at any time and from time to time, and to engage in similar transactions with respect to the Securities, the whole depending on market conditions, the business and prospects of Filament and other relevant factors.

The head office address of Filament is 4475 Wayburne Dr #210, Burnaby, BC V5G 4X4.

For further information please refer to the early warning report to be posted on Filament's SEDAR+ profile at www.sedarplus.com or which may be obtained by contacting, on behalf of the Acquiror:

Contact: Vadim Uzberg
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.
Phone: +12029607747 / Phone: +38267090949