SQI DIAGNOSTICS ANNOUNCES PROPOSED INSIDER SALES AND WARRANT EXERCISES TO FUND COMPANY

TORONTO, March 24, 2023 /PRNewswire/ - SQI Diagnostics Inc. (the "Company" or "SQI") (TSXV:SQD.VN) (OTCQB:SQIDF), a leader in the science of lung health that develops and manufactures respiratory health and precision medicine tests, announces that certain insiders of the Company, who are also control persons of the Company and collectively own, or exercise control or direction over, an aggregate of 75% of the issued and outstanding common shares ("Shares") in the capital of the Company (the "Majority Shareholders"), have informed the Company of their intention to sell, from time to time, up to an aggregate of 45 million Shares, or 15 million Shares per Majority Shareholder, subject to market conditions, at or around the prevailing market price of the Shares at the time of such sales, and to use the proceeds of such sales (net of commissions, taxes and other selling costs) to finance the exercise of common share purchase warrants ("Warrants") held by such Majority Shareholders at exercise prices ranging from $0.12 to $0.21 (the "Warrant Exercise") in order to fund the Company.