Early Warning Reports Issued Pursuant to National Instrument 62-103 in Connection with the Completion of Private Share Sales

TORONTO, April 29, 2021 (GLOBE NEWSWIRE) — Jack Burnett, President and a director of Ramm Pharma Corp. (“Ramm” or, the “Company“), Daniel Augereau, a director of the Company, and Armando Blankleider, a former reporting insider of the Company, each announced that they have filed an early warning report (collectively, the “Early Warning Reports“) under National Instrument 62-103 – The Early Warning System and Related Take-Over Bid and Insider Reporting Issues in connection with the completion of certain private sales of common shares of Ramm (the “Ramm Shares“).

Mr. Blankleider sold an aggregate of 10,000,000 Ramm Shares at a price of $0.23 per Ramm Share pursuant to private share sale agreements (the “Share Sale Agreements“) for aggregate proceeds to Mr. Blankleider of $2,300,000. Mr. Burnett acquired 2,000,000 Ramm Shares and Mr. Augereau acquired 4,000,000 Ramm Shares from Mr. Blankleider in connection with the share sale transactions.

Immediately prior to the disposition of the Ramm Shares by Mr. Blankleider, Mr. Blankleider beneficially owned or controlled 19,671,500 Ramm Shares, representing approximately 19.7% of the issued and outstanding Ramm Shares on a non-diluted basis. Following the completion of the transactions pursuant to the Share Sale Agreements, Mr. Blankleider beneficially owned or controlled an aggregate of 9,671,500 Ramm Shares representing approximately 9.7% of the issued and outstanding Ramm Shares on a non-diluted basis.

Immediately prior to the acquisition of the Ramm Shares, Mr. Burnett beneficially owned or controlled 17,700,000 Ramm Shares and 3,000,000 incentive stock options, representing approximately 17.8% of the issued and outstanding Ramm Shares on a non-diluted basis, and approximately 20.2% of the Ramm Shares on a partially-diluted basis, assuming the exercise of all convertible securities of the Company held by Mr. Burnett. Pursuant to the acquisition of 2,000,000 Ramm Shares by Mr. Burnett from Mr. Blankleider, and together with the 17,700,000 Ramm Shares, and 3,000,000 incentive stock options, Mr. Burnett now beneficially owns or controls an aggregate amount of 19,700,000 Ramm Shares representing approximately 19.8% of the issued and outstanding Ramm Shares on a non-diluted basis, and approximately 22.1% of the issued and outstanding Ramm Shares on a partially diluted basis, assuming the exercise of all convertible securities of the Company held by Mr. Burnett.

Immediately prior to the acquisition of the Ramm Shares, Mr. Augereau beneficially owned or controlled 6,800,000 Common Shares and 200,000 incentive stock options, representing approximately 6.8% of the issued and outstanding Ramm Shares on a non-diluted basis, and approximately 7% of the Ramm Shares on a partially-diluted basis, assuming the exercise of all convertible securities of the Company held by Mr. Augereau. Pursuant to the acquisition of 4,000,000 Ramm Shares by Mr. Augereau from Mr. Blankleider, and together with the 6,800,000 Ramm Shares, and 200,000 incentive stock options, Mr. Augereau beneficially owns or controls an aggregate amount of 10,800,000 Ramm Shares representing approximately 10.8% of the issued and outstanding Ramm Shares on a non-diluted basis, and approximately 11% of the issued and outstanding Ramm Shares on a partially diluted basis, assuming the exercise of all convertible securities of the Company held by Mr. Augereau.

Neither Messrs. Burnett, Augereau or Blankleider currently have any plans to acquire or dispose of any additional securities of the Company. However, each of Messrs. Burnett, Augereau and Blankleider may acquire additional securities of the Company, dispose of some or all of the existing or additional securities that they hold or will hold, or may continue to hold their respective current positions, depending on market conditions, reformulations, and/or other relevant factors.

A copy of the Early Warning Reports filed by Messrs. Burnett, Augereau and Blankleider are available under the Company’s issuer profile on SEDAR at www.sedar.com, or by contact Jack Burnett at +011.598 2513.9958.