Onco-Innovations Announces Agreement to Terminate Performance-Based Funding Arrangement with Sorbie

VANCOUVER, British Columbia, Nov. 10, 2026 (GLOBE NEWSWIRE) -- Onco-Innovations Limited (CBOE: ONCO) (“Onco” or the “Company”) announces that it has entered into a termination agreement (the “Termination Agreement”) with Sorbie Bornholm LP (“SBLP”) and Sorbie Investments LLP (“SILP” and, together with SBLP, “Sorbie”) in respect of the performance-based funding arrangement previously announced on July 29, 2026 (the “Sharing Arrangement”).

Under the Termination Agreement, subject to the satisfaction or waiver of the applicable closing conditions, the Sharing Arrangement, including the related ISDA master agreement, schedule, credit support annex, transaction confirmation and all transactions thereunder, will terminate and be of no further force or effect (the “Termination”) on the closing date to be agreed among the parties.

In connection with the termination of the Sharing Arrangement, among other things: (i) Sorbie will return an aggregate of 5,380,683 common shares of the Company originally issued under the Sharing Arrangement for cancellation, consisting of 2,761,635 common shares of the Company (“Common Shares”) held by SBLP and 2,619,048 Common Shares held by SILP, (ii) SBLP will receive the remaining credit support under the Sharing Arrangement, corresponding to an Independent Amount (as defined in the Sharing Arrangement) of CAD$4,444,444, and the Company will relinquish its rights to further payments under the Sharing Arrangement in respect of that amount; and (iii) SILP will irrevocably waive its right to receive the 2,250,000 additional Common Share purchase warrants (the “Additional Warrants”) that were to be issued following receipt of certain shareholder approvals, and the Company will have no further obligation to issue the Additional Warrants. The receipt by SBLP of the Independent Amount will not require any additional cash payment to be made by the Company.

The Termination is subject to customary conditions, including receipt of the required approval of Cboe Canada Inc. (“Cboe”). Following the Termination, the parties will have no further obligations or liabilities under the Sharing Arrangement, except as expressly preserved in the Termination Agreement.

About Onco-Innovations Limited

Onco-Innovations is a Canadian-based company dedicated to cancer research and treatment, specializing in oncology. Onco’s mission is to pursue the prevention and treatment of cancer through pioneering research and innovative solutions. The Company has secured an exclusive worldwide license to patented technology that targets solid tumours.

ON BEHALF OF ONCO-INNOVATIONS LIMITED,

“Thomas O’Shaughnessy”
Chief Executive Officer

For more information, please contact: Thomas O’Shaughnessy, Chief Executive Officer

Tel: + 1 888 261 8055
investors@oncoinnovations.com

The Cboe does not accept responsibility for the accuracy or adequacy of this release.

Cautionary Note Regarding Forward-Looking Information

This news release contains “forward-looking information” within the meaning of applicable securities laws (“forward-looking statements”), including, without limitation, statements regarding: the completion and timing of the transactions contemplated by the Termination Agreement; the satisfaction or waiver of the conditions to closing, including receipt of Cboe approval; the return and cancellation of common shares; SBLP’s receipt and retention of the remaining independent amount; SILP’s waiver of its right to receive the Additional Warrants; and the termination of the Sharing Arrangement and related documentation.

Forward-looking statements are often identified by words such as “intend”, “expect”, “anticipate”, “believe”, “may”, “will”, “plan”, “potential” and similar expressions. These statements are based on current expectations, estimates and assumptions made by management in light of its experience and perception of historical trends.

Forward-looking statements are subject to a variety of known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking statements. Such factors include, without limitation: the risk that the conditions to closing under the Termination Agreement may not be satisfied or waived on the anticipated timeline or at all; the risk that required regulatory or exchange approvals may be delayed, conditioned or not obtained; the risk that closing documentation may not be delivered in the required form; the risk that the Termination Agreement may be terminated or amended before closing; and other risks and uncertainties disclosed in the Company’s continuous disclosure filings available under its profile on SEDAR+.

Forward-looking statements are based on certain assumptions that management believes are reasonable at the time such statements are made, including, without limitation: that the parties will satisfy or waive the conditions to closing under the Termination Agreement; that Cboe approval will be obtained on acceptable terms and within the anticipated timeframe; that the parties will deliver the required closing documentation; and that the transactions contemplated by the Termination Agreement will be completed in accordance with its terms.

Although the Company believes that the expectations reflected in the forward-looking statements are reasonable, there can be no assurance that such expectations will prove to be correct. Readers are cautioned not to place undue reliance on forward-looking statements, as actual results may differ materially from those expressed or implied herein. The forward-looking statements contained in this news release are made as of the date hereof, and the Company undertakes no obligation to update or revise such statements except as required by applicable securities laws.