PanGenomic Health Announces Financial Results for Half Year Ended June 30, 2023

VANCOUVER, BC, Aug. 30, 2023 /CNW/ - PanGenomic Health Inc. ("PanGenomic Health" or the "Company") (CSE: NARA) (AQSE: NARA), is pleased to announce that it has filed financial statements for the six month period ended June 30, 2023 (the "First Half 2023 Financial  Statements").

The First Half 2023 Financial Statements, together with detailed information regarding the Company's financial results as set forth in the Company's management's discussion and analysis for the same period can be found under the Company's profile at www.sedar.com.

Key highlights in the period included:

• Listed on the Aquis Stock Exchange (AQSE) in the United Kingdom.
• Introduced hormonal health support for women with the availability of the Women's Hormonal Health DNA Report.
• Launched e-commerce platform to market its proprietary natural herbal remedy information library and practitioner-vetted brands.
• Introduced rapid in-clinic access to patient Vitamin D assessments through the MUJN biomarker platform.

	As at
PANGENOMIC HEALTH INC. Consolidated Statement of Financial Position (Expressed in Canadian Dollars)	June 30, 2023 $	December 31, 2022 $
	(unaudited)
ASSETS
Current assets
Cash and cash equivalents	5	88,526
Amounts receivable	74,792	157,817
Prepaid expenses	91,055	204,103
Loan receivable	33,087	33,924
Total current assets	198,939	484,370
Non-current assets
Equipment	16,766	19,772
Total Assets	215,705	504,142
LIABILITIES
Current liabilities
Accounts payable and accrued liabilities	804,251	399,016
Loan payable	500,000	101,771
Due to related parties	358,993	218,465
Total liabilities	1,663,244	719,252
SHAREHOLDERS' DEFICIT
Common shares	11,878,595	11,240,056
Equity reserves	3,675,049	3,526,356
Deficit	(17,001,183)	(14,981,522)
Total shareholders' deficit	(1,447,539)	(215,110)
TOTAL LIABILITIES AND SHAREHOLDERS' DEFICIT	215,705	504,142

PANGENOMIC HEALTH INC.			Six months ended June 30,
Consolidated Statement of Operations and Comprehensive Loss			2023	2022
(Expressed in Canadian Dollars)			$	$
Expenses
Advertising and promotion			57,801	200,604
Consulting fees			560,401	493,509
Depreciation			6,148	5,246
Director's fees			60,000	–
General and administrative			87,059	23,672
Professional fees			258,909	156,897
Rent			3,600	6,000
Research and development			224,852	351,144
Share-based compensation			148,693	202,215
Transfer agent and filing fees			105,336	8,382
Wages and benefits			450,047	182,008
Total expenses			1,962,846	1,629,677
Loss before other income (expense)			(1,962,846)	(1,629,677)
Other income (expense)
Interest expense			(12,492)	(57)
Interest income			1,239	1,410
Foreign exchange translation gain			(9,334)	(798)
Write-off of amounts receivable			(36,228)	–
Total other income (expense)			(56,815)	555
Net loss and comprehensive loss for the period			(2,019,661)	(1,629,122)
Loss per common share, basic and diluted			(0.02)	(0.04)
Weighted average common shares outstanding			98,981,911	39,042,791

PANGENOMIC HEALTH INC.	Six months ended
Consolidated Statement of Cash Flow	June 30,	June 30,
(Expressed in Canadian Dollars)	2023	2022
	$	$
Operating activities
Net loss	(2,019,661)	(1,629,122)
Items not involving cash:
Depreciation	6,148	5,246
Foreign exchange translation loss (gain)	837	(542)
Share-based compensation	148,693	202,215
Write-off of amounts receivable	36,228	–
Changes in non-cash operating working capital:
Amounts receivable	46,297	(50,038)
Prepaid expenses	113,048	102,875
Accrued interest receivable	–	(7)
Accounts payable and accrued liabilities	399,985	175,159
Due to related parties	155,428	(860)
Net cash used in operating activities	(1,112,997)	(1,195,074)
Investing activities
Purchase of equipment	(3,142)	(3,445)
Net cash used in investing activities	(3,142)	(3,445)
Financing activities
Proceeds from issuance of units, net of issuance costs	311,319	–
Proceeds from issuance of shares upon exercise of warrants	327,220	–
Proceeds from units subscribed	–	1,104,900
Proceeds from loans payable	500,000	–
Repayment of loans payable	(101,771)	–
Repayment of related party loans	(9,150)	–
Net cash provided by financing activities	1,027,618	1,104,900
Change in cash	(88,521)	(93,619)
Cash and cash equivalents, beginning of period	88,526	1,348,622
Cash and cash equivalents, end of period	5	1,255,003
Cash and cash equivalents consist of:
Cash in bank	–	1,250,003
Bank indebtedness	(11,245)	–
Cashable short-term investment certificate	11,250	5,000
Total cash and cash equivalents	5	1,255,003
Non-cash investing and financing activities:
Issuance of common shares to acquire intangible asset	–	75,000

About PanGenomic Health

PanGenomic Health is a precision health company that has developed a self-care digital platform to deliver personalized, evidence-based information about natural treatments. The Company's initial focus is to support mental health. Registered as a British Columbia benefit company, PanGenomic Health's mission is to promote and improve the health and wellness of people and society by providing a technology platform that identifies plant-based solutions tailored to the health profile of each individual.

This news release includes certain statements that may be deemed "forward-looking statements", including statements respecting the services to be provided by PanGenomic Health and the consideration to be paid to PanGenomic Health. The use of any of the words "anticipate", "continue", "estimate", "expect", "may", "will", "would", "project", "should", "believe" and similar expressions are intended to identify forward looking statements. Although PanGenomic Health believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because PanGenomic Health can give no assurance that they will prove to be correct. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. These statements speak only as of the date of this News Release. Actual results could differ materially from those currently anticipated due to a number of factors and risks including various risk factors discussed in PanGenomic Health's disclosure documents which can be found under PanGenomic Health's profile on www.sedar.com.

The Canadian Securities Exchange has neither approved nor disapproved the information contained herein and does not accept responsibility for the adequacy or accuracy of this news release.

SOURCE PanGenomic Health Inc.

Jerry Lai, Investor Relations, PanGenomic Health Inc., 778 743 4642, [email protected]; Maryam Marissen, President & CEO, PanGenomic Health Inc., 778 743 4642, [email protected]