On August 15, 2022, Iroquois Capital Management L.L.C. announced that it has entered into a cooperation agreement with PharmaCyte Biotech, Inc., regarding the composition of the Company's Board of Directors and certain other matters. Iroquois Capital stated that pursuant to the terms of the cooperation agreement, the Board (i) accepted the previously tendered irrevocable resignation of each of Gerald W. Crabtree, Thomas Liquard, Matthias Löhr, Raymond C.F. Tong, and Carlos A. Trujillo and (ii) appointed each of Daniel Allen, Daniel S. Farb, Jonathan L. Schechter, Joshua N. Silverman, and Jack E. Stover as a member of the Board. Iroquois Capital added that following the execution of the cooperation agreement, the Board consists of the following 7 members: Michael M. Abecassis, Daniel Allen, Daniel S. Farb, Jonathan L. Schechter, Joshua N. Silverman, Jack E. Stover, and Kenneth L. Waggoner.

Iroquois Capital stated that the Company, the Board and all applicable committees of the Board agreed to take all necessary action to nominate the members of the Board for election as directors at the 2022 annual meeting. Iroquois Capital also stated that pursuant to the terms of the cooperation agreement, Iroquois Capital agreed to irrevocably withdraw its nomination notice and its outstanding demands for the books and records of the Company, and to not solicit any consents in connection with the consent statement, subject to the fulfilment of certain obligations by the Company under the cooperation agreement.