Secures up to $50M in New Funding

Simultaneoulsy, the Company and Yorkville also entered into a $5.5 million Promissory Note (Note) with approximately $5.0 million funded at closing.We are executing an ambitious commercial and product development plan, and the flexibility of this funding vehicle enables us to continue operating in this strategic and opportunistic fashion, commented Guido Baechler, Chief Executive Officer of Mainz Biomed.Mainz is currently commercializing its flagship product ColoAlert, a highly efficacious and easy-to-use detection test for colorectal cancer (CRC), across Europe and in select international territories via a differentiated business model of partnering with third-party laboratories for test kit processing versus the traditional methodology of operating a single facility. These biomarkers have demonstrated the potential to identify advanced adenomas, a type of curable pre-cancerous polyp often attributed to CRC, which is being evaluated in European and U.S. studies (ColoFuture/eAArly DETECT). The Companys early-stage product development pipeline is highlighted by PancAlert, a potential first-in-class screening test for pancreatic cancer.For further details on the transaction, please see the Companys Form 6-K that has been filed with the Securities and Exchange Commission by visiting www.SEC.gov.About ColoAlert\xae ColoAlert\xae, Mainz Biomeds flagship product, delivers high sensitivity and specificity in a user-friendly, at-home colorectal cancer (CRC) screening kit. The Companys flagship product is ColoAlert\xae, an accurate, non-invasive and easy-to-use, early-detection diagnostic test for colorectal cancer based on real-time Polymerase Chain Reaction-based (PCR) multiplex detection of molecular-genetic biomarkers in stool samples. The following factors, among others, could cause actual results to differ materially from those described in these forward-looking statements: (i) the failure to meet projected development and related targets; (ii) changes in applicable laws or regulations; (iii) the effect of the COVID-19 pandemic on the Company and its current or intended markets; and (iv) other risks and uncertainties described herein, as well as those risks and uncertainties discussed from time to time in other reports and other public filings with the Securities and Exchange Commission (the SEC) by the Company.