INCEPTUS CAPITAL ANNOUNCES CLOSING OF QUALIFYING TRANSACTION

Inceptus Capital Ltd. has completed the previously announced qualifying transaction involving the acquisition of Smartwell Innovations Inc. (formerly Smartwell Technology Inc.), as disclosed in its news release dated June 9, 2022, and its subsequent news releases on March 24 and June 4, 2026. As part of the qualifying transaction, Smartwell raised $3-million and no funds were raised pursuant to the company's prospectus dated March 2, 2026. As a result of the closing, the company will be listed as a Tier 2 industrial company on the TSX Venture Exchange.

On the completion of the qualifying transaction, the company issued 112.73 million common shares pursuant to the share exchange agreement, of which 66,452,784 common shares will be held in escrow, with 10 per cent released on the final exchange bulletin date and 15 per cent on each of the six-, 12-, 18-, 24-, 30- and 36-month anniversaries. In addition, 23,997,216 common shares of the company will be subject to seed share resale restrictions, with 20 per cent released on the final exchange bulletin date and 20 per cent at the three-, six-, nine- and 12-month anniversaries. The company also issued 15 million warrants, each exercisable into one common share at an exercise price of 50 cents for a period of 24 months, and granted 4.4 million options exercisable at 20 cents for five years to directors, officers and consultants.

The directors and officers of the company are:

• Yang He -- director and chief executive officer;

• Peter Chen -- chief financial officer;

• Tony Chan -- president;

• Zhongyi Li -- chief technology officer;

• David Toyoda -- director;

• Chris Twells -- director;

• Paul Arnison -- director;

• Ian Mallmann -- director.

Mr. Chan will not remain on the board at closing because the company is currently limited to five directors following its recent annual general meeting, but he remains president and is expected to be nominated for election as a director at the next AGM.

Concurrently with the completion of the qualifying transaction, the company changed its name to Smartwell Technology Corp., with the symbol SMWE and new CUSIP number 83208H108 and ISIN (international securities identification number) CA8320H1082.

About Smartwell Innovations Inc.

Smartwell is a British Columbia-registered, AI-powered (artificial intelligence) agricultural technology company with operations across China and North America, the world's two largest agricultural markets. Smartwell is built on a single core AI algorithmic engine, which is deployed across two application-specific platforms: the controlled environment agriculture (CEA) system and the Yuntong system.

The CEA system provides solutions based on AI crop growth models for high-value-added agriculture with an aim to provide intelligent, efficient and environmentally friendly results for its clients, which are growers, insurance corporations, financial institutions and other agricultural enterprises, both private and government owned.

The Yuntong system employs satellite remote sensors, unmanned aerial vehicles and agriculture IoT (Internet of Things) to analyze data employing proprietary artificial intelligence algorithms to provide relevant information affecting all relevant crop dynamics, including crop identification, crop area, crop growth, yield estimates, pest control, soil dynamics, meteorological variables and predictive forecasting.

Inceptus Capital Ltd. 已完成此前公告的合格交易，收购 Smartwell Innovations Inc.（原 Smartwell Technology Inc.）。相关信息披露于该公司 2022 年 6 月 9 日新闻稿，以及 2026 年 3 月 24 日、6 月 4 日后续公告。本次合格交易项下，Smartwell 完成 300 万加元募资；公司 2026 年 3 月 2 日招股书未额外募集资金。交易交割完成后，公司将于多伦多证券交易所创业板（TSXV）挂牌，归类为二级工业类上市企业。

本次合格交易完成后，公司依据换股协议合计发行 1.1273 亿股普通股，其中 66452784 股普通股存入托管账户：交易所最终公告当日解锁 10%，之后分别在交割满 6、12、18、24、30、36 个月各解锁 15%。另有 23997216 股种子股份受转售限制：交易所最终公告当日解锁 20%，交割满 3、6、9、12 个月分别解锁 20%。公司同步发行 1500 万份认股权证，每份权证可在 24 个月行权期内以 0.5 加元行权价认购 1 股普通股；同时向董事、高管及顾问授予 440 万份期权，行权价 0.2 加元，行权有效期 5 年。

公司董事及高级管理人员名单如下： 何阳 —— 董事、首席执行官； 陈彼得 —— 首席财务官； 陈托尼 —— 总裁； 李忠义 —— 首席技术官； 丰田大卫 —— 董事； 克里斯・特威尔斯 —— 董事； 保罗・阿米森 —— 董事； 伊恩・马尔曼 —— 董事。

受近期年度股东大会决议限制，公司董事会席位上限为五席，因此陈托尼不会在交割后留任董事，但继续担任总裁一职，拟在下届年度股东大会获提名参选董事。

合格交易交割同步完成企业更名，新公司名称为 Smartwell Technology Corp.，股票代码 SMWE，CUSIP 代码 83208H108，国际证券识别码 ISIN：CA8320H1082。

Smartwell Innovations Inc. 企业简介

Smartwell 为不列颠哥伦比亚省注册企业，是一家依托人工智能技术的农业科技公司，业务覆盖全球两大核心农业市场 —— 中国与北美。公司核心为统一人工智能算法引擎，落地两大专用业务平台：设施农业系统（CEA）与耘瞳遥感系统（Yuntong）。

设施农业系统（CEA）依托 AI 作物生长模型提供高附加值农业解决方案，为种植户、保险机构、金融企业及各类公私农业主体打造智能、高效、环保的数字化服务。

耘瞳遥感系统（Yuntong）整合卫星遥感、无人机、农业物联网设备，通过自研 AI 算法解析多源数据，输出全维度作物动态监测信息，涵盖作物识别、种植面积测算、长势监测、产量预估、病虫害防治、土壤状态、气象监测及农业趋势预测等模块。