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Alpha Cognition Announces Closing of $14.4 Million Public Offering

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Vancouver, British Columbia--(Newsfile Corp. - October 1, 2021) - ALPHA COGNITION INC. (TSXV: ACOG) (OTCQB: ACOGF) ("Alpha" or the "Company"), is pleased to announce that it has closed its previously announced public offering of units (the "Units") for ‎aggregate gross proceeds of approximately C$14.4 million, including the exercise of the over-allotment option in full (the "Offering"). The Company issued ‎‎9,602,500 Units at a price of C$1.50 per Unit, each Unit consisting of one common share of the ‎Company (a "Share") and one common share purchase warrant (a "Warrant") ‎entitling the holder to purchase one Share at a price of C$1.75 per Share until October 1, 2023. ‎The Company has received approval from the TSX Venture Exchange ("TSXV") to list the Warrants issued pursuant to the Offering, and the Warrants are expected to be listed and posted for trading on the TSXV under the ticker symbol "ACOG.WT" effective on or about October 5, 2021.

The Offering was conducted through a syndicate of agents led by Raymond James Ltd. and including iA Private Wealth Inc. (collectively, the "Agents"). On closing, the Company issued to the Agents an aggregate ‎of 659,627 broker warrants (the "Broker Warrants"), each Broker Warrant entitling the holder to ‎purchase one Share at the price of C$1.50 per Share until October 1, 2023.‎

The Units issued pursuant to the Offering were offered by way of a short form base shelf prospectus and a prospectus supplement filed in all provinces of Canada, except Quebec. The Company intends to use the net proceeds of the Offering for the clinical development and marketing of the Company's ALPHA-1062 and ALPHA-602 formulations and for working capital and general corporate purposes.

The securities offered have not been, nor will they be, registered under the U.S Securities Act of 1933 (the "U.S. Securities Act") or any ‎state securities laws, and may not be offered or sold in the United States or to, or for the account or ‎benefit of, any person in the United States or to U.S. Persons (as such term is defined in Regulation S ‎under the U.S. Securities Act) absent registration or an applicable exemption from the registration ‎requirements. This news release will not constitute an offer to sell or the solicitation of an offer to buy ‎nor will there be any sale of the securities in any state in which such offer, solicitation or sale would be ‎unlawful.‎

About Alpha Cognition Inc.

Alpha Cognition Inc. is a clinical stage, biopharmaceutical company dedicated to developing treatments for under-served neurodegenerative diseases, such as Alzheimer's Dementia and Amyotrophic Lateral Sclerosis (ALS).

ALPHA-1062, is a patented new chemical entity that has demonstrated safety and improved tolerability in human clinical trials. It is being developed as a new generation acetylcholinesterase inhibitor for the treatment of Alzheimer's disease, with minimal gastrointestinal side effects and novel routes of administration. ALPHA-1062's active metabolites are differentiated from donepezil and rivastigmine in that they may sensitize neuronal nicotinic receptors, most notably the alpha-7 subtype, which is known to have a positive effect on cognition. ALPHA-1062 is also being developed in combination with memantine to treat moderate to severe Alzheimer's dementia and in a nasal spray formulation to treat traumatic brain injury.

ALPHA-0602 (Progranulin) is expressed in several cell types in the central nervous system and in peripheral tissues, regulates cell survival and certain inflammatory processes, and plays a major role in regulating lysosomal function and microglial responses to disease. Its use for the treatment of neurodegenerative diseases has been patented by the Company and granted an Orphan Drug Designation.

For further information:

Alpha Cognition Inc.
Jeremy Wright, Chief Financial Officer
604-837-7990
jwright@alphacognition.com

Bristol Investor Relations
Stefan Eftychiou
905 326 1888 ext 6
stefan@bristolir.com
https://www.alphacognition.com/
Website: https://www.alphacognition.com

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Caution Regarding Forward-Looking Statements

This press release contains statements that may constitute "forward-looking statements" within the meaning of applicable securities legislation. Forward-looking statements are typically identified by words such as "will" or similar expressions. Forward-looking statements in this press release include, but are not limited to, statements relating to the trading date of the Warrants and the intended use of the net proceeds of ‎the Offering. Such forward-looking statements reflect current estimates, beliefs and assumptions, which are based on management's perception of current conditions and expected future developments, as well as other factors management believes are appropriate in the circumstances. No assurance can be given that the foregoing will prove to be correct. Actual results may differ from the estimates, beliefs and assumptions expressed or implied in the forward-looking statements. Readers are cautioned not to place undue reliance on any forward-looking statements, which reflect management's expectations only as of the date of this press release. The Company disclaims any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

NOT FOR DISSEMINATION IN THE UNITED STATES
OR THROUGH U.S. NEWSWIRE SERVICES

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/98239

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