Magen Ventures I Inc. and Grey Wolf Animal Health Inc. announced that, further to Magen's news release of January 26, 2022, they have entered into a business combination agreement dated March 16, 2022 (the "BCA"), which outlines the terms and conditions pursuant to which Magen and Grey Wolf will complete a transaction that will result in a reverse take-over of Magen by Grey Wolf (the "Proposed Transaction"). The Proposed Transaction will be an arm's length transaction, and, if completed, will constitute Magen's "Qualifying Transaction". Magen following the completion of the Proposed Transaction is referred to as the "Resulting Issuer".

Subject to applicable shareholder and TSXV approval, it is anticipated that the officers and directors of the Resulting Issuer will be: Kevin Palmer ­- Chief Financial Officer, Kevin Palmer is the Chief Financial Officer of Grey Wolf. Mr. Palmer joined Grey Wolf in October 2020 as Vice President of Finance.