BELGRADE: Lattice Biologics Ltd. has obtained TSX-V approval to issue 16.76 million common shares of the company to settle outstanding debt.

Can$838,000 in debt held by Guy Cook has been converted to equity at a price of Can$0.05 per share and the debt has been extinguished. The common shares are subject to a four-month hold period.

Following completion of the conversion of debt to equity Mr. Cook now holds direct ownership and control over 27,393,705 Common Shares representing 32.38% of the Company’s issued and outstanding Common Shares, and 18,480,141 non-voting restricted shares representing 72% of the Company’s issued and outstanding restricted Shares.

Lattice Biologics is an emerging personalized/precision medicine leader in the field of cellular therapies and tissue engineering, with a focus on bone, skin, and cartilage regeneration.

Lattice Biologics develops and manufactures biologic products to domestic and international markets. The Company’s products are used in a variety of surgical applications.