Biocure Technology : Enters into Agreement on Pharm Corporation

News Release

December 19, 2022

FOR IMMEDIATE RELEASE

Biocure Enters into Agreement on BiocurePharm Corporation

VANCOUVER, British Columbia, December 19, 2022 -- Biocure Technology Inc. ("Biocure" or the "Company") (CSE:CURE) announces today that it has executed an agreement dated December 16, 2022 with Sang Mok Lee, President and CEO, whereby Dr. Lee will acquire 1,773,879 common shares and 57,954 preferred shares of BiocurePharm Corporation ("BPK") held by the Company, representing 51% of the shares currently held and 46% of the outstanding shares of BPK (the "Transaction")

The restructuring Transaction is designed to enable BPK, under the leadership of its CEO to separately market, finance and develop its product portfolio while maintaining a minority investment in BPK, which is currently a private subsidiary of the Company. The Company believes its market value does not reflect the value of BPK and that BPK will have more success with its financing endeavors in Korea as restructured.

As consideration of the BPK Shares, Dr. Lee will transfer to the Company an aggregate of 27,317,506 common shares of Biocure held by him for cancellation and return to treasury. The consideration for the Transaction was determined having regard for the current trading price of the common shares of Biocure on the CSE and the value of the Company's investment in BPK as set forth in its audited financial statements for the year ended December 31, 2021 and results in a deemed value of approximately $0.15 per BPK share, based on the current trading price of the Company's shares of $0.01.

Following completion of the restructuring Transaction, Dr. Lee would resign from the board of the Company and as its CEO.

The Company will retain its minority interest in BPK, as well as a 10% interest in Korea Waterbury Uranium Limited Partnership ("KWULP") is a uranium investment through its fully owned subsidiary, Gravis Capital Inc. ("Gravis").

As the Transaction results in substantially all of the assets of the Company, the Transaction is subject to the approval, by way of a special resolution, of at least 66 2/3% of the shareholders of the Company, voting in person or by proxy, in accordance with the requirements of the Business Corporations Act (British Columbia). Additionally, as Dr. Lee is the Company's CEO and a director, the Transaction is also a "related party transaction" as defined under Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions ("MI 61-101") and is subject to majority of the minority shareholder approval requirements of MI 61-101. The Company expects to hold a special meeting for the purposes of considering the Transaction in Q1 2023.

ON BEHALF OF THE BOARD OF DIRECTORS

/S/ "SANG MOK LEE"

CEO and Director

For further information, please contact:

Biocure Technology Inc. Telephone: [phone], or [e-mail]

Certain statements in this news release, which are not historical in nature, constitute "forward looking statements" within the meaning of that phrase under applicable Canadian securities law. These statements include, but are not limited to, statements or information concerning the Company's proposed activities under the Agreement and the expectations of the Company regarding funding payments due pursuant to the Agreement. These statements reflect management's current assumptions and expectations and by their nature are subject to certain underlying assumptions, known and unknown risks and uncertainties and other factors which may cause actual results, performance or events to be materially different from those expressed or implied by such forward looking statements. Except as required pursuant to applicable securities laws, the Company will not update these forward- looking statements to reflect events or circumstances after the date hereof. More detailed information about potential factors that could affect financial results is included in the documents filed from time to time with the Canadian securities regulatory authorities by the Company. Readers are cautioned not to place undue reliance on forward looking statements.

Neither the Canadian Securities Exchange (the "CSE") nor the Investment Industry Regulatory Organization of Canada) accepts responsibility for the adequacy or accuracy of this release.