GEMINA LABS ENTERS INTO LICENSE AND MANUFACTURING AGREEMENTS

October 6, 2022

GEMINA LABORATORIES LTD. 

News Release 

October 6, 2022 

GEMINA LABS ENTERS INTO LICENSE AND MANUFACTURING AGREEMENTS 

October 6, 2022, Vancouver, British Columbia: Gemina Laboratories Ltd. (CSE: GLAB) (FRA:8I7) (the  “Company” or “Gemina”) is pleased to announce that it has entered into agreement with International  Point of Care, Inc (“IPOC"), for the manufacturing of its Legio XTM COVID-19 Rapid Antigen Test (the “Legio  XTM Test”). The agreements signed today include both a Manufacturing and Supply Agreement and a  License Agreement setting out the terms upon which IPOC will manufacture the Legio XTM Test in Canada  to satisfy demand from distributors in CE Mark eligible jurisdictions.  

The agreements entered into today build on the successful partnership between IPOC and Gemina that  commenced in 2021. To date, IPOC has provided contract services to Gemina throughout the transfer to  manufacturing phase of the Legio XTM Test’s development, which were necessary precursors to the granting of the Test’s CE Mark and its commercial product launch. In a strong show of confidence in the  Legio XTM Test, IPOC has offered to defer $500,000 of invoicing costs, covering the final stages of product  validation. The $500,000 deferral may be repaid to IPOC from Gemina’s share of product revenues.  Alternatively, IPOC has the ability to convert any outstanding portion of the $500,000 into common shares  of Gemina at a conversion price of $0.60 per share.  

“A huge amount of scientific and product development work has occurred to take us to where we are  today,” commented Brian Firth, Gemina’s CEO. “The partnership has been a great success and as a result  we now find ourselves in a position to bring a high performing, price competitive product to the  international market. IPOC’s deferral of $500,000 is quite unique in my experience and is a sign of IPOC’s  belief in the Legio XTM Test and the long-term future of Gemina and our chemistry platform. With today’s  agreements now in place, our focus shifts to achieving our initial product launch in the near future.” 

Garth Styba, President of IPOC, stated “It’s absolutely wonderful to be on the brink of scale manufacturing  with Gemina. The combined IPOC and Gemina teams have achieved something truly impressive – converting a new chemistry for diagnostics into a regulated, marketable product in just one year. We think  the Gemina technology is a game-changer in our industry - it’s been really exciting to have been involved  with this team and technology from the beginning.” 

On Behalf of the Board of Directors 

John Davies 

Chairman 

Gemina Laboratories Ltd. 

About IPOC 

International Point of Care is a leading Canadian company that develops, manufactures and supplies  unique biological reagents, raw materials, and lateral flow components for the in-vitro diagnostic industry  and the research and development community.

About Gemina Laboratories Ltd. 

Gemina Labs is a biosensor and diagnostic company with a transformative, patented, proprietary  chemistry 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 anticipated terms of any proposed transaction or  engagement. 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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