Sona Nanotech Closes Private Placement Financing to Raise $1,643,750 in Gross Proceeds

Sona Nanotech Inc. (CSE: SONA) (OTCQB: SNANF) (the "Company" or "Sona") is pleased to announce that it has closed its non-brokered private placement that was announced on July 31, 2024 with the issuance of 6,000,000 common shares (each, a "Share") at $0.25 per share (the "Financing"). As previously disclosed, Sona intends to use the net proceeds of the Financing for advancing studies to support regulatory permission for an international, multi-site, first-in-human clinical trial, further research and development of its Targeted Hyperthermia TherapyTM ("THT"), as well as for general working capital purposes.

Numus Capital Corp. (the "Finder"), a registered Exempt Market Dealer, acted as exclusive finder for the Financing. In connection with the private placement, Sona paid the Finder a cash commission of $88,750 and issued 355,000 non-transferable share purchase warrants (the "Finder Warrants"). Each Finder Warrant entitles the Finder to acquire one Share at an exercise price of $0.25 until September 5, 2026. The Finder is a related party to Sona, a director of Sona being indirectly a principal shareholder of the Finder, as well such director of Sona also being a director and officer of the Finder.

Sona Nanotech Inc. (CSE: SONA) (OTCQB: SNANF) (the "Company", "Sona") is pleased to announce that it plans to raise up to $1,500,000 through a private placement financing (the "Financing") of up to 6,000,000 common shares of Sona (each, a "Share") at a price of $0.25 per Share (the "Offering Price"). Insiders and certain other existing shareholders of Sona may also subscribe for Shares under the Financing.

Numus Capital Corp. (the "Finder") will act as the exclusive Finder for the Financing. Sona has also agreed to submit a list of certain potential subscribers in the Financing to the Finder (the "President's List"). As compensation for its services, the Finder will receive cash compensation equal to 7.0% of the gross proceeds of the Financing (5.0% for subscribers on the President's List). The Finder will also receive non-transferable share purchase warrants (the "Broker Warrants") which will entitle the Finder to acquire such number of common shares as is equal to 7% of the number of Shares placed by the Finder (5% for subscribers on the President's List). The Broker Warrants will be exercisable at a price of $0.25 per share for a period of 24 months from the closing date of the Financing. The Finder is a related party to Sona, a director of Sona being indirectly a principal shareholder of the Finder as well as a director and officer of the Finder.

Sona Nanotech Inc. (CSE: SONA) (OTCQB: SNANF) (the "Company" or "Sona") is pleased to announce that a detailed biomarker analysis of the recently reported pre-clinical melanoma study conducted at Dalhousie University (the "Study") indicates that, beyond shrinking tumors on its own, Sona's Targeted Hyperthermia Therapy ("THT") also stimulates the innate immune system to target and eliminate untreated (contralateral) tumors when combined with a standard immunotherapeutic drug, IL-2. (See figure #1, below.) On the basis of efficacy data achieved in two different murine cancer models (triple negative breast cancer and malignant melanoma), the Company is now proceeding with safety and biocompatibility testing that will be required by regulating agencies to enter into human studies.

Sona Nanotech Inc. (CSE: SONA) (OTCQB: SNANF) (the "Company" or "Sona") is pleased to announce that its targeted hyperthermia therapy ("THT") demonstrated positive results in a second preclinical cancer model. Findings just presented at the 2024 STING & TLR Targeted Therapies Summit for immunotherapies in San Diego, California, show that Sona's THT achieved responses in a preclinical melanoma model equal to that which was recently reported from its triple negative breast cancer study. THT effectively treated melanoma tumors in all animals when administered on its own. Further, when THT was combined with doses of interleukin-2 ("IL-2"), a standard immunotherapy, a synergistic effect was shown whereby greater treatment response, measured by tumor volume reduction, was achieved in comparison to either approach alone.

Sona Nanotech Inc. (CSE: SONA) (OTCQB: SNANF) (the "Company" or "Sona") is pleased to advise that it has appointed Dr. Carman Giacomantonio MD, MSc., FRCSC (Cav.) to be the Company's Chief Medical Officer. Dr. Giacomantonio is a practicing Surgical Oncologist at the QEII Health Sciences Centre and a Professor of Surgery at Dalhousie University. Dr. Giacomantonio leads a productive translational research group at Dalhousie University and has successfully initiated two clinical trials in cancer immunotherapy. He is widely published in the field of cancer immunobiology and immunotherapy research, and a recognized innovator in the field of intra-tumoral cancer immunotherapy. Dr. Giacomantonio currently serves on Sona's Advisory Board and is the Principal Investigator for Sona's pre-clinical studies using Sona's gold nanorods in its Targeted Hyperthermia Therapy ("THT") for triple negative breast cancer, melanoma, and colorectal cancer. Sona is extremely excited to have Dr. Giacomantonio's vision and experience to lead the development of our THT-based immunotherapy towards first-in-human clinical trials.