Early Warning News Release of Jason T. Nguyen

Rhea-AI Summary

Vext Science (OTC:VEXTF) early warning: Jason T. Nguyen sold and converted securities and updated his beneficial ownership.

On Dec 24, 2025 Mr. Nguyen entered into Share Purchase Agreements that resulted in the conversion and sale of 20,340 Multiple Voting Shares (each convertible into 100 Subordinate Voting Shares), effective Dec 31, 2025. He received US$305,100, applied as partial repayment of his promissory note to the company. His holdings changed from 493,261 MV / 1,425,300 SV to 473,291 MV / 1,425,300 SV and 100,000 options, moving MV ownership from 73.3% to 72.5% and diluted SV ownership from 20.52% to 19.7% (partially diluted basis).

Positive

• Received aggregate proceeds of US$305,100
• Proceeds applied to partial repayment of promissory note
• Retains majority 72.5% of Multiple Voting Shares
• Transaction completed effective Dec 31, 2025

Negative

• Multiple Voting ownership fell from 73.3% to 72.5%
• Partially diluted Subordinate ownership fell from 20.52% to 19.7%
• Sale converted 20,340 Multiple Voting Shares into Subordinate shares

News Market Reaction – VEXTF

-2.35%

1 alert

-2.35% News Effect

On the day this news was published, VEXTF declined 2.35%, reflecting a moderate negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

Vancouver, British Columbia--(Newsfile Corp. - January 2, 2026) - Jason T. Nguyen announces that he has filed an early warning report regarding his updated securityholdings of securities of Vext Science, Inc. (the "Issuer"). The Issuer's head office is located at 4152 N. 39th Avenue Phoenix, Arizona, USA 85019.

On December 24, 2025, Mr. Nguyen entered into two Share Purchase Agreements, pursuant to which Mr. Nguyen agreed to sell an aggregate of 20,340 Class A common shares in the capital of the Company ("Multiple Voting Shares") and the Issuer agreed to convert such Multiple Voting Shares to common shares in the capital of the Issuer ("Subordinate Voting Shares") in accordance with the Issuer's articles (the "Transaction"). Each Multiple Voting Share is convertible into 100 Subordinate Voting Shares in accordance with the Issuer's articles. The 20,340 Multiple Voting Shares represent 3.0% of the issued and outstanding Multiple Voting Shares and 1.1% of the issued and outstanding Subordinate Voting Shares (after conversion of the Multiple Voting Shares). The Transaction was completed effective December 31, 2025.

Immediately prior to the Transaction, Mr. Nguyen beneficially owned or otherwise exercised control or direction over 493,261 Multiple Voting Shares, 1,425,300 Subordinate Voting Shares and 100,000 options to purchase Subordinate Voting Shares ("Options"), representing approximately 73.3% of the issued and outstanding Multiple Voting Shares and approximately 20.52% of the issued and outstanding Subordinate Voting Shares (on an a partially diluted basis, assuming conversion of all Multiple Voting Shares).

As a result of the Transaction (including the conversion of the 20,340 Multiple Voting Shares), Mr. Nguyen beneficially owns or otherwise exercises control or direction over 473,291 Multiple Voting Shares, 1,425,300 Subordinate Voting Shares and 100,000 Options, representing approximately 72.5% of the issued and outstanding Multiple Voting Shares and approximately 19.7% of the issued and outstanding Subordinate Voting Shares (on an a partially diluted basis, assuming conversion of all Multiple Voting Shares).

Mr. Nguyen received aggregate proceeds of US$305,100 for the Transaction, which was paid to the Company as partial repayment of the promissory note issued by Mr. Nguyen in favour of the Company. Mr. Nguyen has no present intention to dispose of or acquire further securities of the Company, other than pursuant to long-term incentive plans adopted by the Company. Mr. Nguyen may, in the future, participate in financings and/or acquire or dispose of securities of the Company in the market, privately or otherwise, as circumstances or market conditions warrant.

This press release is issued pursuant to early warning requirements of National Instrument 62-104 Take-over Bids and Issuer Bids and National Instrument 62-103 The Early Warning System and Related Take-over Bid and Insider Reporting Issues, which also requires a report to be filed with regulatory authorities in each of the jurisdictions containing additional information with respect to the foregoing matters (the "Early Warning Report"). A copy of the Early Warning Report to which this news release relates can be obtained on the SEDAR+ profile of the Issuer at www.sedarplus.ca or by contacting Jonathan Ross, Vext Investor Relations at 416-244-9851 or jon.ross@loderockadvisors.com.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/279388

FAQ

What did Jason T. Nguyen disclose in the VEXTF early warning on January 2, 2026?

He disclosed sale/conversion of 20,340 Multiple Voting Shares, proceeds of US$305,100, and updated ownership percentages effective Dec 31, 2025.

How did the Dec 31, 2025 transaction affect Jason Nguyen's VEXTF ownership?

Multiple Voting Shares fell to 473,291 (from 493,261) and MV ownership to 72.5%; partially diluted SV ownership moved to 19.7%.

What was the purpose of the US$305,100 proceeds from the VEXTF transaction?

The proceeds were paid to the company as partial repayment of a promissory note issued by Mr. Nguyen.

When was the VEXTF share conversion and sale completed?

The Transaction was completed effective Dec 31, 2025 after agreements dated Dec 24, 2025.

Will Jason Nguyen buy or sell more VEXTF shares after this early warning?

He stated he has no present intention to dispose of or acquire further securities, but may participate in future financings or market transactions as conditions warrant.