Advanced Proteome Therapeutics Corporation agreed to Spin-Off Linceis Capital Corp. on January 16, 2023. Under the proposed Plan of Arrangement, the Company proposes to assign 198,005,400 common shares
of Advanced Proteome Therapeutics Inc. that it currently owns as well as other assets and liabilities of the Company to Linceis Capital Corp, and 1,145,189 common shares of Aether Catalyst Solutions, Inc. that it currently owns to Linceis. In consideration for the Company and the APTC Shareholders that are U.S. Persons owning 100% of the outstanding common shares of Linceis, prior to the final step of the Arrangement where the common shares of Linceis held by the Company will be distributed to non-U.S. Shareholders on a pro rata basis. After the completion of the Arrangement, it is anticipated that the APTC Shareholders will own the common shares of Linceis on the same pro rata basis as their ownership of the Company. After the completion of the Arrangement, Linceis which will become a reporting issuer in the Provinces of British Columbia and Alberta upon completion of the Arrangement and will seek to list on the Canadian Securities Exchange. On February 22, 2023, Shareholders has approved the transaction. On February 27, 2023, Supreme Court of British Columbia approved the transaction. As of March 6, 2023, all conditions have been satisfied or waived and the Board of Directors of the Company has authorized the Company to complete its plan of arrangement. The Board has set the Share Distribution Record Date as March 13, 2023 as the record date for shareholders of the Company to be entitle to receive their pro rata portion of the Linceis Shares and the Effective Date for the distribution of such Linceis Shares will occur on March 15, 2023. Endeavor Trust Corporation acted as a transfer agent.