On January 8, 2021, Georges Benarroch resigned as Chairperson of the Board of Directors (the Board") of Kyto Technology and Life Science, Inc. (the Company"), effective immediately. The Board appointed Paul Russo to the position of Chairperson of the Board, effective immediately. On January 8, 2021, the Board voted to increase the size of the Board from three members to five members, creating a total of three vacancies, and appointed Jon S. Saxe, Peter D. Staple and Mike Baghramian (together, the New Directors") to fill the resulting vacancies, each to serve until his successor shall have been duly elected and qualified or until his earlier resignation or removal. The Board also voted to form a compensation committee (the Compensation Committee"), a corporate governance and nomination committee (the Nomination Committee"), an audit committee (the Audit Committee") and an investment committee (the Investment Committee"). Jon S. Saxe and Mike Baghramian will serve on the Compensation Committee. Peter D. Staple, Jon Saxe, Georges Benarroch and Paul Russo will serve on the Nomination Committee. Jon S. Saxe and Peter D. Staple will serve on the Audit Committee. Paul Russo, Jon Saxe, Peter Staple and Mike Baghramian will serve on the Investment Committee.