ORTHO REGENERATIVE TECHNOLOGIES AMENDS THE TERMS OF ITS $3 MILLION NON-BROKERED PRIVATE PLACEMENT OF UNITS

MONTREAL, March 21, 2022 /CNW/ - Ortho Regenerative Technologies Inc. (CSE: ORTH) (OTC: ORTIF) ("Ortho" or the "Company"), a clinical-stage orthobiologics company focused on the development of novel soft tissue repair regenerative technologies, announced today certain changes to the terms of its non-brokered private placement of units for maximum gross proceeds of $3.0 million (the "Offering") previously announced on February 11, 2022.

"We are pleased to have secured firm commitments from long-standing significant shareholders which are supportive of the amended terms", said Philippe Deschamps, President, and CEO.  "We are now confidently moving towards completing the proposed $3.0 million financing by March 31, 2022. Once completed, this financing will provide us with the necessary financial runway to advance our Phase I/II clinical trial and demonstrate how our proprietary technology platform can improve the success rate of orthopedic and sports medicine surgeries".

Following the amendment to the terms, the Offering will now consist of up to 15,000,000 Units of the Company priced at $0.20 per Unit (the "Offering Price") consisting of one Common Share of the Company (each, a "Common Share") and one Common Share purchase warrant (a "Warrant"). Each Warrant will be exercisable into one (1) Share in the capital of the Company at the price of $0.35 per Warrant Share for a period of 24 months from closing.  

If the closing price of the Corporation's shares is greater or equal to $0.50 for ten (10) consecutive trading days, the Company may give notice to the Warrant holder, at any time after the statutory 4-month hold period, that it must exercise its remaining Warrants within a period of 30-days from the date of receipt of the notice, failing which the Warrants will automatically expire.

Net proceeds of the Offering will be used to 1) initiate enrollment and fund the advancement of the ORTHO-R Phase I/II U.S. clinical trial for rotator cuff tear repair, and 2) For working capital and general corporate purposes.   

The Common Shares and the Warrants will be subject to a statutory 4-months hold period under the applicable securities laws and in such case the certificates evidencing the Shares and the Warrants will bear a legend to that effect, as applicable.

Closing of the Private Placement is now expected to occur on or about March 31, 2022, and is subject to certain conditions, including but not limited to, the receipt of all necessary regulatory and stock exchange approvals, including the approval of the CSE.

The Units will be offered and sold by private placement (i) in Canada to "accredited investors" within the meaning of Regulation 45-106 respecting Prospectus Exemptions and other exempt purchasers in each province of Canada (ii) in the United States on a private placement basis only under Regulation D, Rule 144A or other available U.S. registration exemptions and (iii) jurisdictions outside of Canada and the United States, in each case in accordance with all applicable laws provided that no prospectus, registration statement or similar document is required to be filed in such jurisdiction and the Corporation does not thereafter become subject to continuous disclosure obligations in such jurisdictions.

Although the Offering is non-brokered, the Company will pay finders' fee of 7% of the gross proceeds raised from Accredited Investors introduced to the Company by Finder, payable in cash; and Finder's Warrants equal to 7 % of the number of Units issued to Accredited Investors introduced to the Company by Finder, each Finder's Warrant entitling the holder to purchase one Common Share at a purchase price of $0.35 for a period of 18 months from the date of issuance of the Finder's Warrants.

About Ortho Regenerative Technologies Inc.

Ortho is a clinical stage orthobiologics company dedicated to the development of novel therapeutic soft tissue repair technologies to dramatically improve the success rate of orthopedic and sports medicine surgeries. Our proprietary RESTORE technology platform is a proprietary muco-adhesive Chitosan-based biopolymer matrix, specifically designed to deliver biologics such as Platelet-Rich Plasma (PRP) or Bone Marrow Aspirate Concentrate (BMAC), to augment and guide the regeneration of new tissue in various musculoskeletal conditions. ORTHO-R, our lead Chitosan-PRP hybrid drug/biologic implant combination product, is formulated and designed to increase the healing rates of occupational and sports related injuries to tendons, meniscus and ligaments. Other formulations are being developed for cartilage repair, bone void filling and osteoarthritis treatment. The proprietary Chitosan-PRP combination ORTHO-R implant can be directly applied into the site of injury by a surgeon during a routine operative procedure without significantly extending the time of the surgery and without further intervention. Considering the significant potential of our technology platform, Ortho continues to assess new therapeutic target uses outside of the soft tissue repair field. Further information about Ortho is available on the Company's website at www.orthorti.com and on SEDAR at www.sedar.com. Also follow us on LinkedIn and Twitter.

Forward-Looking Statements

This news release may contain certain forward-looking statements regarding the Company's expectations for future events. Such expectations are based on certain assumptions that are founded on currently available information. If these assumptions prove incorrect, actual results may differ materially from those contemplated by the forward-looking statements contained in this press release. Factors that could cause actual results to differ include, amongst others, uncertainty as to the final result and other risks. The Company disclaims any intention or obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, other than as required by security laws.

NEITHER THE CANADIAN SECURITIES EXCHANGE NOR ITS REGULATIONS SERVICES PROVIDER HAVE REVIEWED OR ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

SOURCE Ortho Regenerative Technologies Inc.

Company: Philippe Deschamps, President and Chief Executive Officer, 614-596-2597, [email protected]; Luc Mainville, Senior Vice-President and Chief Financial Officer, 514-693-8854, [email protected]; Investors: Frederic Dumais, Director Communications and Investor Relations, [phone], [email protected]