Name Change, Share Consolidation, and US Clinic Strategy Signal Shift Toward Alzheimer's Diagnostics

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1. Disclosure for the quote from the Stewart Thomson article published on March 26, 2026

1. For the quoted article (published on March 26, 2026), Algernon Health has paid Street Smart, an affiliate of Streetwise Reports, US$3000.
2. Author Certification and Compensation: Stewart Thomson was retained and compensated as an independent contractor by Street Smart for writing this article. Mr. Thomson is a retired Canadian financial advisor who has passed the Canadian Securities Course as well as additional technical analysis courses that were mandated by his former employer and approved by Ontario regulatory bodies. For the past 15 years, he has been editing and writing numerous financial newsletters that have a strong focus on charts.  The recommendations and opinions expressed in this content reflect the personal, independent, and objective views of the author regarding any and all of the companies discussed. No part of the compensation received by the author was, is, or will be directly or indirectly tied to the specific recommendations or views expressed.

2. Ownership and Share Structure Information

The information listed above was updated on the date this article was published and was compiled from information from the company and various other data providers.

Algernon Health (AGN:CSE; AGNPF:OTCQB; AGW0:XFRA) reported that it intends to change its corporate name to "Grey Matters Health Inc." and has reserved the new trading symbol "GREY" with the Canadian Securities Exchange. The company stated that new symbols for the OTCQB and Frankfurt exchanges will be provided at a later date.

The company indicated that the planned name change reflects its expanding focus on the Alzheimer's disease diagnostic market and its plans to establish specialized brain PET scanning clinics across the United States under the NovaScan Neuroimaging ClinicsTM brand. The first clinic was recently announced to be located at the HCA University Medical Office Building on the campus of the HCA Florida University Hospital in Davie. The company noted that this transition follows its entry into the Alzheimer's diagnostic market in 2025.

Algernon stated that the new name also maintains a connection to its existing drug development programs, including N-Dimethyltryptamine for ischemic brain stroke and traumatic brain injury, as well as Repirinast, a repurposed drug for chronic kidney disease. The company continues to hold a 20% ownership position in Seyltx Inc., a private U.S. drug development company advancing Ifenprodil in chronic cough, along with related intellectual property assets.

Concurrently, the company announced a proposed consolidation of its Class A common shares on a ten to Spell out numbers 1-10 basis. The company currently has 54,182,431 common shares issued and outstanding, which would be reduced to approximately 5,418,243 shares following the consolidation, excluding fractional share adjustments.

The company stated that both the name change and consolidation remain subject to approval by the Canadian Securities Exchange. It added that a further news release will be issued upon receiving approval, including confirmation of the effective date. The company noted that its common shares are expected to begin trading on a post-consolidation basis after the exchange issues its final bulletin. It also stated that preferred shares, warrants, stock options, and restricted share units will be adjusted in accordance with their respective terms.

The company indicated that, upon completion of the consolidation, registered shareholders will receive a letter of transmittal with instructions for exchanging their existing share certificates or DRS statements. It added that no action is required for non-registered shareholders who hold shares through an intermediary.

Analyst Report Points to Alzheimer's Diagnostic Strategy and Issues Speculative Buy Rating

¹A March 26 report from Stewart Thomson described Algernon Health Inc. as "a Canadian healthcare company" and outlined its focus on Alzheimer's diagnostics through brain-optimized PET imaging. The report noted that "this plan will make the company's main business diagnosing Alzheimer's disease, using high-technology brain-optimized Positron Emission Tomography (PET) scans for diagnosis," while also referencing "the goal of capturing a US$6.9 billion emerging market."

Thomson stated on March 26 that "the company is entering the Alzheimer's Disease (AD) diagnostic market segment with plans to establish a network of dedicated neuroimaging medical clinics in the U.S." He added that these clinics are expected to use "the most advanced, FDA-cleared brain-specific PET scanner to focus on early-stage detection of the disease."

The report also assigned the company a "Technical Rating: Strong Speculative Buy" and listed price targets of "CA$0.08" for the short term, "CA$0.17" for the medium term, and "CA$0.40" for the long term.

Clinic Development and Alzheimer's Diagnostic Expansion

The company's healthcare initiative includes plans to establish Alzheimer's screening, diagnostic, treatment, and patient care clinics in North America, with an initial focus on the United States. It stated that the first medical clinic location is expected to be established in Florida, with additional expansion plans including company-owned clinics and franchise licenses in Canada, Florida, Los Angeles, and five additional U.S. cities.

The company outlined that its Alzheimer's initiative builds on developments in the healthcare segment, including the approval of antibody treatment therapies by the U.S. Food and Drug Administration and the approval of PET brain scanning technology capable of confirming amyloid plaque buildup. It noted that PET brain scans and certain treatment therapies are covered by U.S. Medicare and Medicaid.

The company stated that it continues to advance its pharmaceutical pipeline, which includes a drug repurposing candidate and a naturally occurring compound, with intellectual property protection covering method of use, dosing, formulation, and composition of matter.