Arizona Tribune - Lir Life Sciences Corp. Formerly Blackbird Critical Metals Corp. Announces Closing of Acquisition of Lir Life Sciences Inc.

Transaction Summary

The Company acquired 100% of the issued and outstanding shares of Lir Inc. in consideration for the issuance of 22,312,678 post-consolidated common shares of the Company to the former securityholders of Lir Inc.

In connection with the completion of the Acquisition, the Company also issued 379,000 common shares (the "Admin Fee Shares") to The Back Office Inc., an arm's-length third party, as an administrative fee for services rendered in support of the Acquisition. The Admin Fee Shares are subject to a statutory hold period of four months and one day under applicable Canadian securities laws.

Board and Management Changes

The Company is pleased to announce that Dr. Edward Mills has been appointed Chief Executive Officer and as a Director of the Company. Dr. Mills is a globally recognized leader in clinical trials and public health, with over 550 peer reviewed publications in top-tier journals such as The New England Journal of Medicine and The Lancet. Over the past two decades, he has led some of the largest and most impactful clinical trials ever conducted, particularly focused on evaluating treatments for diseases affecting low-income populations. His work has earned him multiple prestigious awards in clinical research. Dr. Mills has raised over $1 billion to support clinical research and public health initiatives and is among the most widely published clinical researchers in the world. He holds a PhD in clinical research and two master's degrees. Formerly Chief Executive Officer of Platform Life Sciences and a Senior Scientist at VirX@Stanford, he continues to pioneer breakthrough therapies. He is also a successful entrepreneur, having co-founded and exited several healthcare companies, including MTEK Sciences (acquired by Cytel) and Redwood Outcomes (acquired by Precision Medicine Group). Dr. Mills will lead the Company's vision around the development of therapies intended to provide accessible obesity treatment through transdermal delivery.

The Company also welcomes Mr. Harry Nijjar as Chief Financial Officer and Corporate Secretary. Mr. Nijjar is the Managing Director at Malaspina Consultants and a seasoned finance executive with extensive experience in financial reporting, corporate governance, and strategic advisory across a wide range of industries. He serves as Chief Financial Officer for multiple public companies and has held Chief Financial Officer positions with numerous TSX Venture Exchange and CSE listed issuers. Mr. Nijjar earned a Bachelor of Commerce from the Sauder School of Business at the University of British Columbia in 2010 and obtained his CPA, CMA designation in 2012.

The Company also welcomes Dr. Mark Dybul as a Director. Dr. Dybul is a Professor in the Department of Medicine at Georgetown University Medical Center where he serves as Chief Strategy Officer of the Center for Global Health Practice and Impact. He is also Chair of the Board of Purpose Africa. Dr. Dybul has worked on HIV and public health for more than 25 years as a clinician, scientist, teacher, and administrator. He was a principal architect of and ultimately led with the rank of Ambassador at the level of an Assistant Secretary of State, the US President's Emergency Plan for AIDS Relief ("PEPFAR"). More recently, he served as the Executive Director of the Global Fund to Fight AIDS, Tuberculosis and Malaria.

The Company also welcomes Mr. Kevin May as a Director. Mr. May is an experienced lumber trader with a deep understanding of the North American lumber market, supply chain dynamics, and sustainable forestry practices. With a keen ability to navigate complex trade relationships, he plays a pivotal role in sourcing and distributing high quality timber products to meet the needs of diverse industries. Before transitioning into the lumber trade, Mr. May built a strong foundation in international relations as a cross-cultural communicator in Japan. This experience honed his skills in negotiation, market analysis, and relationship management, the essential qualities that now drive his success in the highly competitive lumber industry.

The Company wishes to thank its former management and members of the Board of Directors - Messrs. Jason Riley, Norman Brewster, Jatinder Sandhar, and Gurdeep Bains - who have resigned from their respective positions. The Company extends its sincere appreciation for their contributions and leadership and wishes them continued success in their future endeavors

Concurrent Financing and Debt Conversion

In connection with the Acquisition, and as disclosed by way of news release on October 29, 2025, Lir Inc. completed a non-brokered private placement of 3,050,270 subscription receipts at a price of $0.35 per subscription receipt (the "Concurrent Financing"), for aggregate gross proceeds of $1,067,594.50. Each subscription receipt automatically converted into one common share of Lir Inc. immediately prior to Closing, and such Lir Inc. shares were exchanged for common shares of the Company on closing. Lir Inc. also settled $109,343 of outstanding debt by issuing 312,408 Lir Inc. shares at a deemed price of $0.35 per Lir Inc. share, (the "Debt Conversion") which were exchanged for common shares of the Company on closing. The securities issued in connection with the Concurrent Financing and Debt Conversion are subject to a voluntary hold period of four months from the date from closing.

Name Change

Prior to Closing, on October 31, 2025, the Company effected a change of its corporate name from "Blackbird Critical Metals Corp." to "Lir Life Sciences Corp." (the "Name Change").

For further information regarding the Acquisition, the Concurrent Financing or the Name Change, please see the Listing Statement of the Company dated November 3, 2025, a copy of which is available under the Company's issuer profile on SEDAR+ at www.sedarplus.ca or on the CSE's website.

AboutLIR Life Sciences Corp.

Lir Life Sciences is focused on researching and developing scalable and affordable treatments for obesity using novel drug delivery methods. The company is advancing a transdermal patch and other novel delivery systems that mimic GLP-1, a naturally occurring hormone that helps regulate appetite and blood sugar. These therapies could potentially offer an alternative to injectable drugs. The goal is to improve access, adherence, and cost-efficiency in both developed and emerging markets. LIR Life Sciences aims to address the global burden of obesity with practical solutions based on established compounds and proven science.

ON BEHALF OF LIR LIFE SCIENCES CORP.,

"Dr.Edward Mills,"
Chief Executive Officer

For more information, please contact:

Dr. Edward Mills
Chief Executive Officer
Tel: +1 888 436 7772
Email: [email protected]

Neither the CSE nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this news release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.

Cautionary Note Regarding Forward-Looking Information

This news release contains statements and information that, to the extent that they are not historical fact, may constitute "forward-looking information" within the meaning of applicable securities legislation based on current expectations, estimates, forecasts, projections, beliefs and assumptions made by management of the Company. Forward-looking information is generally identified by words such as "believe", "project", "aim", "expect", "anticipate", "estimate", "intend", "strategy", "future", "opportunity", "plan", "may", "should", "will", "would", and similar expressions and, in this news release, includes statements relating to the commencement of trading of the common shares of the Company, the financial and business prospects of the Company, its assets and other matters. Although the Company believes that the expectations and assumptions on which such forward- looking information are reasonable, undue reliance should not be placed on the forward-looking information because the Company can give no assurance that it will prove to be correct. Since forward-looking information addresses future events and conditions, by its very nature it involves inherent risks and uncertainties. Many factors could cause actual future events to differ materially from the forward-looking information in this news release. The forward-looking information included in this news release is expressly qualified by this cautionary statement. The forward-looking information contained in this news release is made as of the date hereof and the Company undertakes no obligation to update publicly or revise any forward-looking information, whether as a result of new information, future events or otherwise, unless so required by applicable laws.

SOURCE: Lir Life Sciences Corp.

View the original press release on ACCESS Newswire

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