DiagnosTear Technologies Inc. Announces Private Placement of Units

Vancouver, British Columbia--(Newsfile Corp. - August 31, 2026) - DiagnosTear Technologies Inc. (CSE: DTR) (FSE: X8F) ("DiagnosTear" or the "Company") is pleased to announce it will be proceeding with a non-brokered private placement of up to 2,800,000 units ("Units") at a price of C$0.50 per Unit for aggregate gross proceeds of up to C$1,400,000 (the "Offering"). The Company expects BioLight Life Sciences Ltd., parent company of DiagnosTear, and Elcam Medical Ltd. to each participate for up to one-third of the total Offering.

Each Unit will consist of one common share of the Company (a "Common Share") and one common share purchase warrant (a "Warrant"). Each Warrant will be exercisable to purchase one Common Share at an exercise price of C$1.00 for a term of twelve (12) months from the closing date of the Offering.

No finder's fees will be paid in connection with this Offering. The net proceeds of the Offering will be used for the Company's working capital and general corporate purposes.

All securities to be issued, subject to occurrence of the closing of the Offering, will be subject to a statutory hold period expiring four months and one day after the issuance thereof. Closing of the Offering is subject to approval of the Canadian Securities Exchange.

Certain insiders of the Company may acquire Units in the Offering. Any participation by insiders in the Offering would constitute a "related party transaction" as defined under Multilateral Instrument 61-101 Protection of Minority Security Holders in Special Transactions ("MI 61-101"). However, the Company expects such participation would be exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 as neither the fair market value of the Units subscribed for by the insiders, nor the consideration for the Units paid by such insiders, would exceed 25% of the Company's market capitalization.

None of the securities sold in connection with the Offering will be registered under the United States Securities Act of 1933, as amended, and no such securities may be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This news release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

On Behalf of the Board of Directors:

Yifftach Biel, Chief Financial Officer
DiagnosTear Technologies Inc.

About DiagnosTear

DiagnosTear is a leading ophthalmic company developing and commercializing disruptive diagnostic solutions for better management of eye diseases. DiagnosTear's TeaRx" technology is a diagnostic platform intended for rapid, Point-of-Care Testing (POCT) of ophthalmic pathologies through multi-parameter analysis of non-invasively collected tear fluid. The first CE-IVD, and Israeli MoH-approved test based on the TeaRx" platform is intended for diagnosis of Dry Eye Syndrome (DES TeaRxTM Dry Eye). This product is not FDA-cleared yet. Beyond DES, DiagnosTear is developing innovative tests based on the TeaRx" platform for additional ophthalmic indications. Among others, DiagnosTear's pipeline includes TeaRx" Red Eye: The first test of its kind for differential assessment of adenoviral conjunctivitis, Herpetic Keratitis and Allergic conjunctivitis. For additional information about DiagnosTear, please visit https://diagnostear.com.

Neither the Canadian Securities Exchange nor the Market Regulator (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.

Forward-Looking Statements

This news release contains "forward-looking statements" and "forward-looking information" within the meaning of applicable Canadian securities legislation. All statements, other than statements of historical fact, contained in this news release constitute forward-looking statements, including, without limitation, statements regarding: the completion, size and timing of the Offering; the anticipated use of proceeds of the Offering; the anticipated participation of BioLight Life Sciences Ltd. and Elcam Medical Ltd. in the Offering and the expected size of their respective subscriptions; receipt of approval of the Canadian Securities Exchange; the anticipated participation of insiders in the Offering and the availability of exemptions under MI 61-101; the development and commercialization of the Company's TeaRx" platform and pipeline products, including TeaRx" Red Eye; and the pursuit of additional regulatory approvals, including clearance by the U.S. Food and Drug Administration. Forward-looking statements are frequently, but not always, identified by words such as "expects", "anticipates", "intends", "believes", "will", "may", "would" and similar expressions.

Forward-looking statements reflect management's current expectations and assumptions based on information currently available and are subject to known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those expressed or implied by such statements. These risks and uncertainties include, but are not limited to: the risk that the Offering may not close at all, on the timeline anticipated, or on the terms announced; the risk that BioLight Life Sciences Ltd., Elcam Medical Ltd. or other anticipated subscribers may not participate in the Offering, or may subscribe for fewer Units than currently expected; the risk that required regulatory or exchange approvals may not be obtained; the risk that the Company may use the proceeds of the Offering for purposes other than those disclosed; risks relating to the development, regulatory approval and commercialization of the Company's products, including the risk that FDA clearance may not be obtained; the Company's need for additional financing; adverse market conditions; changes in interest and currency exchange rates; and other factors beyond the control of the Company.

Although the Company believes that the assumptions underlying the forward-looking statements are reasonable, forward-looking statements are not guarantees of future performance and undue reliance should not be placed on such statements due to their inherent uncertainty. The forward-looking statements contained in this news release are made as of the date hereof, and the Company expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by applicable securities law.

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN
THE UNITED STATES

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/312119

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