EARLY WARNING REPORT IN RESPECT OF ATMOFIZER TECHNOLOGIES CORP.

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This press release is issued pursuant to Multilateral Instrument 62-104 – Take-Over Bids and Issuer Bids and National Instruments 62-103 – The Early Warning System and Related Take-Over Bid and Insider Reporting Issues

ENSCHEDE, Netherlands, Aug. 18, 2022 /CNW/ - Vaxxinator Coating B.V. ("Vaxxinator Coating"), a private company, announces that pursuant to the requirements of National Instrument 62-103 - The Early Warning System and Related Take-Over Bid and Insider Reporting Issues ("NI 62-103") that its shareholdings in Atmofizer Technologies Inc. (the "Corporation") has fallen below 10% after the Corporation completed an at-the-market offering of 4,450,000 common shares of the Corporation ("Common Shares") pursuant to a prospectus supplement dated February 23, 2022 (the "ATM Offering Sale").

Immediately prior to the ATM Offering Sale, Vaxxinator Coating had ownership and control over 11,202,900 Common Shares representing approximately 10% of the issued and outstanding Common Shares on a non-diluted basis. Vaxxinator Coating did not participate in the ATM Offering Sale.

Immediately following the ATM Offering Sale, Vaxxinator Coating continued to have ownership and control over 11,202,900 Common Shares, representing approximately 9.24% of the issued and outstanding Common Shares on a non-diluted basis after completion of the ATM Offering Sale

As of the date hereof, Vaxxinator Coating no longer beneficially owns nor controls 10% or more of the issued and outstanding Common Shares. Accordingly, Vaxxinator Coating is no longer required to file early warning reports pursuant to the requirements of NI 62-103 unless Vaxxinator Coating's beneficial ownership or control of the Common Shares again increases above 10% of the issued and outstanding Common Shares.

This news release, and the early warning report filed in connection with the ATM Offering Sale, was filed late due to administrative error.

Vaxxinator Coating's investment in the Corporation is for investment purposes only. Vaxxinator Coating will review its investment on an ongoing basis and depending upon such factors that Vaxxinator Coating, may from time to time, deem relevant, may, among other things, acquire additional or dispose securities of the Corporation.

An early warning report prepared pursuant to the requirements of NI 62-103 by Vaxxinator Coating has been filed on SEDAR at www.sedar.com under the Corporation's profile. To obtain more information or to obtain a copy of the early warning report to be filed in respect of this news release, please contact Vaxxinator Coating at the contact details noted below.

SOURCE Vaxxinator Coating B.V.

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