Ponderous Panda Capital Corp. updated its News Release dated June 19, 2018 with respect to the acquisition (the "Proposed Transaction") of Trait Biosciences Inc. ("Trait"). On July 21, 2018 Trait undertook a reorganization of its Board of Directors and Officers.

As a result the proposed directors Resulting Issuer will now be Joseph Del Moral, Ronan Levy, Michael B. Harrison, David W. Smalley and Rodney W. Reum. Mr. David T. Chu and Mr. Edward T. L. Cheung are not now proposed directors or officers of the Resulting Issuer. As regards officers of the Resulting Issuer, Mr. Del Moral will be CEO; Mr. Hannan Fleiman will be President; Mr. Levy will be Chief Strategic Officer; Ms. Kimberly Landry will be Chief Development Officer; and Mr. Tawanda Zidenga will be Vice President Research.

All other proposed officer positions in relation to the Resulting Issuer remain unchanged. Mr. Del Moral is co-Founder served as CEO of Canadian Cannabis Clinics (CCC) until June 2018. Mr. Levy is a co-founder with Mr. Del Moral of CanvasRX Inc. and CCC, where he served as Chief Corporate Officer and General Counsel until June, 2018.

Mr. Fleiman was, along with Mr. Del Moral and Mr. Levy, a co-founder of CanvasRx and CCC, both of which he served as Chief Operating Officer. Prior to joining Trait Dr. Zidenga was a post-doctoral research associate at the Los Alamos National Laboratory from 2014 to 2017 and an associate research scientist at the New Mexico Consortium from 2011 to 2014.