Company closes Private Placement

929 Mainland Street

Vancouver, BC V6B 1S3

Phone

Fax

(604) 928-8913

(604) 628-0129

Email [email protected]

Website www.lexston.ca

For Immediate Release

Lexston closes previously announced Non-Brokered Unit Private Placement

Vancouver, British Columbia, July 4 , 2022 . Lexston Life Sciences Corp. (the “Company”) (CSE: LEXT)

(OTCQB: LEXTF) announces that further to its news releases dated June 1, 202 2 and June 27, 2022 , the

Company has issued 18,562,440 units (“Units”) at a purchase price of $0.05 per Unit for gross proceeds of

$928,122 (the “Private Placement”) . Each Unit consist s of one common share in the capital of the

Company (“Share”) and one share purchase warrant (“Warrant”). Each full Warrant entitles the holder to

purchase one Share for a period of five years, at a purchase price of $0.075 per Share.

The Company has paid $4,480 cash to Haywood Securities Inc and $15,400 to Raymond James Ltd. and

issued 89,600 broker’s warrants to Haywood Securities I nc. and 308,000 broker’s warrants to Raymond

James Ltd. as finders’ fees. The finders’ warrants are subject to the same terms and conditions as the

Warrants issued pursuant to the Private Placement.

All securities issued pursuant to the Private Placement are subject to a statutory hold period of four

months plus a day from the date of issuance in accordance with applicable securities legislation.

The net proceeds from the Private Placement will be used by the Company for general working capital.

On Behalf of the Board of Directors

LEXSTON LIFE SCIENCES CORP.

Jagdip Bal Chief Executive Officer

Telephone: (604) 928-8913

The Canadian Securities Exchange has not reviewed and does not accept responsibility for the adequacy

or accuracy of the content of this news release.