Vivione Biosciences Inc. announced that it has entered into a loan agreement (the "Loan Agreement") with Mr. Glenn Smith, a director of Vivione (the "Lender"), whereby the Lender has agreed to provide Vivione with a revolving line of credit facility up to a maximum amount of CAD 200,000 for a one year term (the "Loan"). The Loan will bear interest at a rate of 1.5% per month on the daily outstanding balance under the Loan, with interest calculated and payable monthly. The Loan is subject to the acceptance of the TSX Venture Exchange.

Pursuant to the terms of the Loan Agreement, Vivione intends to issue and allot to the Lender 500,000 non-transferrable warrants to purchase Class A common shares (the "Bonus Warrants") in the capital of Vivione at an exercise price of $0.08 per share for a one year term.