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: Dr. Ian Sandler -­ Chief Veterinary Medical Officer and Director. He served on the Animal Health Technologist /Veterinary Technician Accreditation Committee of the Canadian Veterinary Medical Association ("CVMA") from 2009 to 2016 and now sits on the National Issues Committee of the CVMA. Shawn Aspden - ­Director.

Shawn Aspden serves as the Chair of the Board of Directors of Grey Wolf. Rob Harris -­ Director. Mr. Harris has been a director of Grey Wolf since 2016 and is also the Chair of the board at Miravo Healthcare Inc.