Lobe Sciences, Ltd. Announces Amendment to the Acquisition of Altemia & Company

Lobe Sciences Ltd. (CSE: LOBE) (OTCQB: LOBEF) ("Lobe" or the "Company"), a North American Biopharmaceutical Company committed to discovering and developing patient-focused medicines for Orphan and Rare diseases announced that on August 30, 2023 it signed an amendment to the share purchase agreement to acquire a 100% interest in Altemia & Company, LLC (“Seller”) which includes all assets, know-how, intellectual property and commercial inventory of the Seller to manage patients suffering from Sickle Cell Disease (the “Amendment”) as originally announced on April 18, 2023.

Terms of the Amendment

Pursuant to the Amendment, the 76,000,000 common shares of the Company (each a “Lobe Share”) previously issued to the Altemia members (“Selling Members”) shall be returned by the Selling Members to the Company and cancelled by the Company pursuant a share cancellation agreement. The 76,000,000 Lobe Shares shall be reissued upon the later of:

1.	Achievement of the following milestones:
		a.		25% on or after the closing date;
		b.		25% on delivery of inventory to a Lobe designated storage facility;
		c.		25% on the first commercial sale allowing the trademark validation; and
		d.		25% on successful completion of SAN100 Tech Transfer Documentation (which includes batch records for R&D batch produced in a lab setting for use in a stability study and includes ingredients and manufacturing instructions) and Samples of SAN100 are delivered to Lobe.
	collectively, clauses (a) through (d) are referred to as a “Milestone”. Each Milestone a, b, c and d represents 19,000,000 Lobe Shares, and
2.	Within ten (10) days of Selling Member providing Lobe a written notice to release some or all of the then available shares with respect to which the applicable Milestone has been met. Each Altemia member may in such notice designate one or more third parties to receive some or all of any such Lobe Shares then available for release.

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