Appili Therapeutics Announces Overnight Marketed Equity Offering

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May 17, 2022

Appili Therapeutics Inc. (TSX: APLI) (the “Company” or “Appili”), a biopharmaceutical company focused on drug development for infectious diseases, today announced that it will undertake an overnight marketed public offering (the "Offering") of units (the "Units"), comprised of Class A common shares and Class A common share purchase warrants ("Warrants"). The Offering is to be effected on a best efforts agency basis in each Province of Canada (other than Quebec) by way of a prospectus supplement (the "Prospectus Supplement") to the Company's base shelf prospectus dated May 16, 2022 (the “Base Shelf Prospectus”). The number of Units to be distributed, the price and composition of each Unit, and the exercise price of each Warrant will be determined in the context of the market with final terms to be determined at the time of pricing. It is expected that the Offering will be conducted through a syndicate of agents led by Bloom Burton Securities Inc. and including Leede Jones Gable Inc.