SQI Diagnostics Reports Internal Restructuring

TORONTO, June 6, 2023 /PRNewswire/ - SQI Diagnostics Inc. ("SQI" or the "Company") (TSXV:SQD.VN) (OTCQB:SQIDF), a leader in the science of lung health that develops and manufactures respiratory health and precision medicine tests today announced that the Company's board of directors (the "Board") has issued layoff notices to each of Andrew Morris, the Company's Chief Executive, and Eric Brouwer, the Company's Chief Scientific Officer, in an effort to further reduce the Company's expenses. Messrs. Morris and Brouwer have advised the Board that they will resign from their positions as directors of the Company effective June 5th, 2023, but will continue to advise the Board over the next several weeks on an as required basis. SQI has provided similar notices to its staff to reduce its number of employees from approximately 20 full-time employees to 2 full-time employees. Morlan Reddock, the Company's Chief Financial Officer, will continue to be employed by the Company during this transition period as the Board looks to monetize the Company's existing intellectual property and equipment while continuing to seek potential sources of new financing. Additional details regarding the Company's future direction and strategy will be announced in due course.