GEMINA LABS ANNOUNCES CLOSING OF OVERSUBSCRIBED PRIVATE PLACEMENT

October 25, 2021

GEMINA LABORATORIES LTD. 

News Release 

October 25, 2021 

GEMINA LABS ANNOUNCES CLOSING OF OVERSUBSCRIBED PRIVATE PLACEMENT 

October 25, 2021, Vancouver, British Columbia: Gemina Laboratories Ltd. (CSE: GLAB) (FRA:8I7) (the  “Company” or “Gemina”) is pleased to announce the closing of its previously announced CAD$2,000,000  non-brokered private placement (the “Placement”). 

The Placement was oversubscribed, raising gross proceeds of $2,217,435 through the issuance of  4,031,700 units (the “Units”) at a price of $0.55 per Unit. Each Unit consists of one common share (a  “Common Share”) of Gemina and one-half of one Common Share purchase warrant (each whole warrant,  a “Warrant”), totaling 2,015,850 Warrants. Each Warrant will entitle the holder thereof to acquire one  Common Share at an exercise price of $0.80 per Common Share for a period of 24 months from the date  of issuance, subject to acceleration in the event that the trading price of the Common Shares equals or  exceeds $2.00 for a period of 10 consecutive days (the “Acceleration Right”).  

In connection with the Placement, the Company issued 291,136 finder’s warrants (the “Finder’s  Warrants”) and paid commissions of $160,124.80. Each Finder’s Warrant will entitle the holder, on  exercise thereof, to acquire one additional Common Share at a price of $0.55 per Common Share for a  period of 24 months from the date of issuance, subject to the Acceleration Right. 

The net proceeds of the Placement will be deployed towards the ongoing development, manufacturing  and final regulatory review of the Company’s initial rapid diagnostic test using our breakthrough  proprietary chemistry. Additionally, it will be applied to ongoing research and development work related  to new diagnostics tests already in process, as well as general working capital. The securities issued in this  Placement will be subject to a statutory hold period in Canada expiring four months and one day from the closing date. 

The securities offered have not been, and will not be registered under the United States Securities Act of  1933, as amended (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold  within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable  state securities laws or an exemption from such registration is available. This press release does not  constitute an offer to sell or the solicitation of an offer to buy securities in the United States, nor in any  other jurisdiction. 

On Behalf of the Board of Directors 

John Davies 

CEO 

Gemina Laboratories Ltd.

About Gemina Laboratories Ltd. 

Gemina Labs is a biosensor and diagnostic company with a transformative, patented, proprietary  biochemistry that powers next-generation testing platforms for a wide range of pathogens that affect  human health and wellness. Our technology drives testing platforms that are fast, affordable and  accurate, and easily self-administered. Our development pipeline includes platforms for the rapid testing  of COVID-19, influenza and other viruses. Additional information on the Company can be found at  www.geminalabs.com. 

Neither the Canadian Securities Exchange nor its Regulation Services Provider (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 includes forward-looking information and statements, which may include, but are not  limited to, information and statements regarding or inferring the future business, operations, financial  performance, prospects, and other plans, intentions, expectations, estimates, and beliefs of the Company.  Such statements include statements regarding the proposed use of funds raised in the Placement.  Information and statements which are not purely historical fact are forward-looking statements. Forward looking information and statements involve and are subject to assumptions and known and unknown  risks, uncertainties, and other factors which may cause actual events, results, performance, or  achievements of the Company to be materially different from future events, results, performance, and  achievements expressed or implied by forward-looking information and statements herein. Although the  Company believes that any forward-looking information and statements herein are reasonable, in light of  the use of assumptions and the significant risks and uncertainties inherent in such information and  statements, there can be no assurance that any such forward-looking information and statements will  prove to be accurate, and accordingly readers are advised to rely on their own evaluation of such risks  and uncertainties and should not place undue reliance upon such forward-looking information and  statements. Furthermore, the Company is presently unable to fully quantify the impact that the Covid-19  pandemic will have on its operations and recognizes that certain eventualities may affect planned or  assumed performance moving forward. As such, any forward-looking information and statements herein  are made as of the date hereof, and except as required by applicable laws, the Company assumes no  obligation and disclaims any intention to update or revise any forward-looking information and  statements herein or to update the reasons that actual events or results could or do differ from those  projected in any forward looking information and statements herein, whether as a result of new  information, future events or results, or otherwise, except as required by applicable laws.  

For more information regrading the Company, please contact: 

James Tansey 

Telephone: 604-562-4546  

Email: investor@geminalabs.com

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