Asep Medical Holdings Inc. Tak

VANCOUVER, BC, May 11, 2022 /PRNewswire/ – Asep Medical Holdings Inc. (“Asep Inc.” or the “Company”) (CSE: ASEP) (OTCQB: SEPSF) announces that due to unexpected delays in compiling the information necessary for the preparation of the annual documents due to: (i) a temporary lack of resources available from the Company’s auditors due to COVID-19 and personnel changes; and (ii) incorporating the accounting for the Company’s wholly-owned subsidiary and two majority-owned subsidiaries, acquired in November 2021it was unable to file its annual financial statements, its management report and the required certificates (the “Annual deposits“) no later than the prescribed filing deadline of the May 2, 2022as required by National Instrument 51-102, Continuous disclosure obligations (“National Instrument 51-102“) and NI 52-109, Declaration of disclosure in the issuer’s annual and interim documents, respectively. As a result, the British Columbia Securities Commission issued a Cease Trade Order (“CTO”) which temporarily suspended the Company’s trading activities.

Management anticipates that it will be able to file the annual filings within the next 7-10 days. The CTO will be in effect until annual filings are filed and a revocation order is issued. The Company confirms that it will comply with the guidelines on alternative disclosures included in NP 12-203 as long as the annual filings are in progress.

ABOUT ASEP MEDICAL HOLDINGS INC.

Asep Inc. is dedicated to solving antibiotic failure by developing new solutions for significant unmet medical needs. The company is a consolidation of two existing private companies (Sepset Biosciences Inc. and ABT Innovations Inc.) which are both in the advanced development of the two proprietary diagnostic tools, enabling the early and rapid identification of severe sepsis as well as broad-spectrum therapies agents to combat multidrug-resistant biofilm infections.

Sepset Biosciences Inc. is developing diagnostic technology that involves a patient’s gene expression signature that predicts severe sepsis, one of the important diseases leading to antibiotic failure since antibiotics are the primary treatment for sepsis. Despite this, sepsis is responsible for almost 20% of all deaths on the planet. The SepsetEmergency room is a blood-based gene expression test that is simple to perform and results are obtained in approximately one hour in the emergency room or intensive care unit. This proprietary diagnostic technology differs from current diagnostic tests in that it can diagnose severe sepsis within 1-2 hours of first clinical presentation (i.e. in the emergency room), while other diagnostics provide a diagnosis only after 24 to 36 hours. Asep Inc. believes this will enable physicians to make critical early decisions about appropriate treatments and reduce overall morbidity and mortality from sepsis.

ABT Innovations Inc.’s peptide technology covers a wide range of therapeutic applications, including bacterial biofilm infections (medical device infections, chronic infections, lung, bladder, wound, dental, skin, otolaryngology, sinusitis, orthopaedics, etc.), anti-inflammatories, anti-infective immunomodulators and vaccine adjuvants.

FORWARD-LOOKING STATEMENTS

This press release contains certain “forward-looking statements” within the meaning of such statements under applicable securities laws. Forward-looking statements are often characterized by words such as “expects”, “plans”, “continues”, “expects”, “projects”, “intends”, “believes”, “expects”, ” believes”, “may”, “will”, “potential”, “proposed”, “positioned” and other similar words, or statements that certain events or conditions “may” or “will occur”. Forward-looking statements in this press release include, but are not limited to, the Company’s expectation that annual filings will occur within the next 7-10 days. Forward-looking statements are based on the opinions and estimates of management as of the date they are made and are subject to various risks, including the risk that the annual filings will not be filed when expected and that an order revocation may not be granted in a timely manner or at all (and including the risk factors identified in ASEP Medical’s prospectus dated November 9, 2021, and ASEP Medical’s most recent management discussion and analysis) available for review under ASEP Medical’s profile at www.sedar.com and the uncertainties and other factors that could cause events or actual results differ materially from those projected in the forward-looking statements. ASEP Medical has no obligation, and 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 law. expressly requires.

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SOURCEASEP Medical Holdings Inc.