Perimeter Medical Imaging AI Announces Its Participation at SSO 2023 Including An Industry Spotlight Session Featuring Perimeter S-Series OCT

Society of Surgical Oncology's International Conference on Surgical Cancer Care "SSO 2023"
taking place from March 22-25, 2023 in Boston, MA

TORONTO and DALLAS, March 16, 2023 /PRNewswire/ - (TSXV: PINK) (OTC: PYNKF) (FSE: 4PC) – Perimeter Medical Imaging AI, Inc. ("Perimeter" or the "Company") – a commercial-stage medical technology company – announced that it will participate in the upcoming International Conference on Surgical Cancer Care hosted by the Society of Surgical Oncology (SSO), with a spotlight presentation in the HUB Theater and featuring demos on the S-Series OCT device in the HUB exhibit hall.

#SSO2023 International Conference on Surgical Cancer Care

Industry Spotlight

Steve Sapot, Perimeter's Chief Commercial Officer, stated, "SSO is a key industry event that gives us an opportunity to directly connect with leading surgical oncologists and showcase our flagship Perimeter S-Series OCT imaging platform. Perimeter's game-changing Optical Coherence Tomography (OCT) technology adds real-time clarity on margin status in the OR. This is especially important since existing imaging modalities do not have the resolution necessary to visualize microscopic features at a 2mm depth – ideal for margins. Our ultimate goal is to improve patient outcomes and reduce healthcare costs by increasing the likelihood of 'clean margins' during an initial surgery and reducing the need for repeat surgeries."

The Company also disclosed that subject to regulatory approval, Perimeter has retained Red Cloud Securities ("Red Cloud") effective beginning March 15, 2023 to provide liquidity services to the Company in compliance with the policies and guidelines of the TSX Venture Exchange ("TSX-V") and other applicable legislation. Red Cloud is a Toronto-based capital markets advisory service firm that helps companies with accessing capital markets and enhancing their investor relations profile. Red Cloud will trade shares of the Company on the TSX-V for the purposes of maintaining a reasonable market and improving the liquidity of the Company's common shares. Under the agreement, the Company will pay Red Cloud $5,000 per month during the term, payable quarterly in advance. The term of engagement is ongoing and may be terminated by either party on 30 days' prior written notice. The agreement is principally for the purposes of maintaining market stability and liquidity for the Company's common shares and is not a formal market making agreement. There are no performance factors contained in the agreement between Red Cloud and the Company and Red Cloud will not receive any shares or options from the Company as compensation for services it will render. The Company and Red Cloud have an arm's length relationship, and Red Cloud does not have any interest, directly or indirectly, in the Company or its securities, or any right or intent to acquire such an interest.

Based in Toronto, Canada and Dallas, Texas, Perimeter Medical Imaging AI (TSX-V: PINK) (OTC: PYNKF) (FSE: 4PC) is a medical technology company driven to transform cancer surgery with ultra-high-resolution, real-time, advanced imaging tools to address areas of high unmet medical need. Available across the U.S., our FDA-cleared Perimeter S-Series OCT system provides real-time, cross-sectional visualization of excised tissues at the cellular level. The breakthrough-device-designated investigational Perimeter B-Series OCT with ImgAssist AI represents our next-generation artificial intelligence technology that is currently being evaluated in a pivotal clinical trial, with support from a grant of up to US$7.4 million awarded by the Cancer Prevention and Research Institute of Texas. The company's ticker symbol "PINK" is a reference to the pink ribbons used during Breast Cancer Awareness Month.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

This news release contains statements that constitute "forward-looking information" within the meaning of applicable Canadian securities legislation. In this news release, words such as "may," "would," "could," "will," "likely," "believe," "expect," "anticipate," "intend," "plan," "estimate," and similar words and the negative form thereof are used to identify forward-looking statements. Forward-looking information may relate to management's future outlook and anticipated events or results and may include statements or information regarding the future financial position, business strategy and strategic goals, competitive conditions, research and development activities, projected costs and capital expenditures, research and clinical testing outcomes, taxes and plans and objectives of, or involving, Perimeter. Without limitation, information regarding the potential benefits of Perimeter S-Series OCT, Perimeter B-Series OCT, and Perimeter ImgAssist, Perimeter's intention to participate in the upcoming International Conference on Surgical Cancer Care and the details regarding Perimeter's arrangement with Red Cloud are forward-looking information. Forward-looking statements should not be read as guarantees of future performance or results, and will not necessarily be accurate indications of whether, or the times at or by which, any particular result will be achieved. No assurance can be given that any events anticipated by the forward-looking information will transpire or occur. Forward-looking information is based on information available at the time and/or management's good-faith belief with respect to future events and are subject to known or unknown risks, uncertainties, assumptions, and other unpredictable factors, many of which are beyond Perimeter's control. Such forward-looking statements reflect Perimeter's current view with respect to future events, but are inherently subject to significant medical, scientific, business, economic, competitive, political, and social uncertainties and contingencies. In making forward-looking statements, Perimeter may make various material assumptions, including but not limited to (i) the accuracy of Perimeter's financial projections; (ii) obtaining positive results from trials; (iii) obtaining necessary regulatory approvals; and (iv) general business, market, and economic conditions. Further risks, uncertainties and assumptions include, but are not limited to, those applicable to Perimeter and described in Perimeter's Management Discussion and Analysis for the year ended December 31, 2021, which is available on Perimeter's SEDAR profile at www.sedar.com, and could cause actual events or results to differ materially from those projected in any forward-looking statements. Perimeter does not intend, nor does Perimeter undertake any obligation, to update or revise any forward-looking information contained in this news release to reflect subsequent information, events, or circumstances or otherwise, except if required by applicable laws.

SOURCE Perimeter Medical Imaging AI, Inc.