HANMI FILES EARLY WARNING REPORT IN RESPECT OF APTOSE BIOSCIENCES INC.

SEOUL, South Korea, March 20, 2025 /CNW/ - Hanmi Pharmaceutical Co., Ltd. (the "Company") announced today that, on March 19, 2025, the Company acquired 409,063 common shares (the "Acquired Shares") in the capital of Aptose Biosciences Inc. ("Aptose") from treasury as a result of the conversion of US$1,513,533.10 of outstanding debt owing by Aptose to the Company pursuant to a Facility Agreement between the Company and Aptose dated August 27, 2024. The conversion was effected pursuant to a debt conversion and interest payment agreement dated March 18, 2025 at a conversion price of US$3.70. Immediately prior to the acquisition of the Acquired Shares, the Company beneficially owned or controlled, directly or indirectly, an aggregate of 99,647 common shares and 77,972 common share purchase warrants (the "Warrants"), with each Warrant exercisable for one common share, representing, in aggregate, approximately 4.65% of the issued and outstanding common shares on a non-diluted basis or 8.00% of the issued and outstanding common shares on a fully-diluted basis (assuming the number of issued and outstanding common shares on a non-diluted basis is 2,143,366 and on a fully diluted basis is 2,221,338). Immediately following the acquisition of the Acquired Shares, the Company beneficially owned or controlled, directly or indirectly, an aggregate of 508,710 common shares representing in aggregate approximately 19.93% of the issued and outstanding common shares on a non-diluted basis or 22.30% of the issued and outstanding common shares on a fully-diluted basis (assuming the number of issued and outstanding common shares on a non-diluted basis is 2,552,429 and on a fully diluted basis is 2,630,401 and after giving effect to the exercise by the Company of its 77,972 Warrants). 

The Company's head office is located at 14 Wiryeseong-Daero, Songpa-Gu, Seoul, Republic of Korea, 05545 and Aptose's head office is located at 66 Wellington St W Suite 5300, Toronto, Ontario, Canada, M5K 1E6.

The Company acquired the Acquired Securities for investment purposes. Depending on market and other conditions, the Company may increase or decrease its beneficial ownership, control or direction over common shares of Aptose through market transactions, private agreements, treasury issuances, exercise of options, convertible securities or otherwise, in each case as investment conditions warrant.

The Company and Aptose have agreed that Aptose shall not effect any exercise of the Warrants, and the Company shall not have the right to exercise any portion of the Warrants to the extent that after giving effect to such issuance the Company and its affiliates and other persons acting as a group with the Company would beneficially own in excess of 19.99% of the number of common shares outstanding immediately after giving effect to the issuance of common shares issuable upon exercise of the Warrants.

ABOUT HANMI

Hanmi Pharmaceutical, founded in 1973, is an R&D-oriented biopharmaceutical company representing Korea. After the establishment by Pharmacist Lim Sung-ki, it was converted into a holding company system in 2010 and incorporated into a subsidiary of Hanmi Science. Hanmi Pharmaceutical invests more than 15% of its sales in R&D every year, and is developing 26 drug candidate for innovative new drugs in three major fields; 1) Biologics: LAPSCOVERY platform applied long-acting pipeline; 2) NCE: Primarily oncology and auto-immune disease targeted pipelines; and 3) Fixed-dose combination programs. Hanmi Pharmaceutical is focusing on three core therapeutic areas: cancer, cardiometabolic, and rare diseases. In addition, Hanmi Pharmaceutical operates production facilities ranging from raw materials to chemicals and biopharmaceuticals and has more than 5,000 employees in Korea and China.

Website: www.hanmipharm.com 

Cautionary Statement Regarding Forward-Looking Statements

Certain statements contained in this new release may constitute forward-looking information within the meaning of applicable securities laws, including statements concerning the Company's plans and future intentions. Forward-looking statements involve known and unknown risks, uncertainties, and other factors and are subject to change. 

SOURCE Hanmi Pharmaceutical Co., Ltd.