Market Newsdesk

NEW YORK, Dec. 12, 2024 (GLOBE NEWSWIRE) — Roadzen Inc. (Nasdaq: RDZN) (“Roadzen” or the “Company”), a global leader in AI at the intersection of insurance and mobility, today announced that it has reached an agreement in principle with Mizuho Securities USA LLC, a leading global investment bank and securities firm, to extend the maturity date of its $11.5 million 15% senior secured notes by one year, to December 31, 2025, providing additional financial flexibility for the Company. The completion of the extension is subject to, among other things, the negotiation of definitive agreements for the extension and satisfaction of the conditions negotiated therein.

“As Roadzen’s technology continues to gain market traction across the world, restructuring our balance sheet is crucial to achieving a valuation that truly reflects our potential,” said Rohan Malhotra, Roadzen’s founder & CEO. “We appreciate Mizuho’s continued support as they convert their short-term notes into long-term debt. It is very clear that Mizuho is a valued partner that shares our vision in recognizing the magnitude of Roadzen’s impact on the auto insurance industry, worldwide.”

About Roadzen Inc.

Roadzen Inc. (Nasdaq: RDZN) is a global technology company transforming auto insurance using advanced artificial intelligence (AI). Thousands of clients, from the world’s leading insurers, carmakers and fleets, to dealerships and auto insurance agents, use Roadzen’s technology to build new products, sell insurance, process claims, and improve road safety. Roadzen’s pioneering work in telematics, generative AI, and computer vision has earned Roadzen recognition as a top AI innovator by publications such as Forbes, Fortune and Financial Express. Roadzen’s mission is to continue advancing AI research at the intersection of mobility and insurance, ushering in a world where accidents are prevented, premiums are fair, and claims are processed within minutes, not weeks. Headquartered in Burlingame, California, the Company has 380 employees across its global offices in the U.S., India, U.K. and France. To learn more, please visit www.roadzen.ai.

Investor Contacts:

[email protected]

Media Contacts:

Sanya Soni: [email protected]
Gutenberg: [email protected]

Cautionary Statement Regarding Forward Looking Statements

This press release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended (the “Securities Act”), and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”). We have based these forward-looking statements on our current expectations and projections about future events. These forward-looking statements are subject to known and unknown risks, uncertainties and assumptions about us that may cause our actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by such forward-looking statements. In some cases, you can identify forward-looking statements by terminology such as “may,” “should,” “could,” “would,” “expect,” “plan,” “anticipate,” “believe,” “pipeline,” “leads,” “estimate,” and “continue,” or the negative of such terms or other similar expressions. Such statements include, but are not limited to, statements regarding the agreement in principal to extend our senior debt, as well as all other statements other than statements of historical fact included in this press release. Factors that might cause or contribute to such a discrepancy include, but are not limited to, those described in “Risk Factors” in our Securities and Exchange Commission (“SEC”) filings, including the definitive proxy statement/prospectus we filed with the SEC on August 14, 2023. We urge you to consider these factors, risks and uncertainties carefully in evaluating the forward-looking statements contained in this press release. All subsequent written or oral forward-looking statements attributable to our company or persons acting on our behalf are expressly qualified in their entirety by these cautionary statements. The forward-looking statements included in this press release are made only as of the date of this release. Except as expressly required by applicable securities law, we disclaim any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise.

Thursday, December 12, 2024

Dear Shareholders and Investors,

This is to inform you that I personally and a company owned and guaranteed by me have today bought 100,000 shares in NAT at the price of USD 2.6129 per share. 

Following this transaction the Hansson family owns an aggregate of 8,150,000 shares – being the largest private shareholder group in the company. 

My son, Monaco-based Alexander Hansson, has 3,600,000 shares in NAT.

Sincerely,

Herbjorn Hansson
Founder, Chairman & CEO

Nordic American Tankers Ltd.                                                        www.nat.bm

 CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS

Matters discussed in this press release may constitute forward-looking statements. The Private Securities Litigation Reform Act of 1995 provides safe harbor protections for forward-looking statements in order to encourage companies to provide prospective information about their business. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements, which are other than statements of historical facts.

The Company desires to take advantage of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and is including this cautionary statement in connection with this safe harbor legislation. The words “believe,” “anticipate,” “intend,” “estimate,” “forecast,” “project,” “plan,” “potential,” “will,” “may,” “should,” “expect,” “pending” and similar expressions identify forward-looking statements.

The forward-looking statements in this press release are based upon various assumptions, many of which are based, in turn, upon further assumptions, including without limitation, our management’s examination of historical operating trends, data contained in our records and other data available from third parties. Although we believe that these assumptions were reasonable when made, because these assumptions are inherently subject to significant uncertainties and contingencies which are difficult or impossible to predict and are beyond our control, we cannot assure you that we will achieve or accomplish these expectations, beliefs or projections. We undertake no obligation to update any forward-looking statement, whether as a result of new information, future events or otherwise.

Important factors that, in our view, could cause actual results to differ materially from those discussed in the forward-looking statements include the strength of world economies and currencies, general market conditions, including fluctuations in charter rates and vessel values, changes in demand in the tanker market, as a result of changes in OPEC’s petroleum production levels and worldwide oil consumption and storage, changes in our operating expenses, including bunker prices, drydocking and insurance costs, the market for our vessels, availability of financing and refinancing, changes in governmental rules and regulations or actions taken by regulatory authorities, potential liability from pending or future litigation, general domestic and international political conditions, potential disruption of shipping routes due to accidents or political events, vessels breakdowns and instances of off-hires and other important factors described from time to time in the reports filed by the Company with the Securities and Exchange Commission, including the prospectus and related prospectus supplement, our Annual Report on Form 20-F, and our reports on Form 6-K.

Contacts:       

Bjørn Giæver, CFO                                                             
Nordic American Tankers Ltd                                             
Tel: +1 888 755 8391                                  

Alexander Kihle, Finance Manager
Nordic American Tankers Ltd
Tel: +47 91 724 171    

SEER commits to an aggressive decarbonization and carbon credit monetization program, starting with its current MV Technology solutions and its planned biocarbon production facilities both domestic and international.

BROOMFIELD, CO, Dec. 12, 2024 (GLOBE NEWSWIRE) —

Strategic Environmental & Energy Resources, Inc.
 (SEER) (OTCQB: SENR), a provider of environmental, renewable fuels and industrial waste stream management services, has partnered with DevvStream, Inc., an emerging leader in carbon credit investing and monetization (https://www.devvstream.com/) (NASDAQ: DEVS). Together, SEER and DevvStream, intend to develop a comprehensive program to quantify and monetize high-quality carbon credits arising out of 1) biogas capture and conditioning associated with generating methane renewable energy, 2) the prevention of harmful fugitive emissions from small, vertical oil & gas wells, and 3) the sequestration of CO2 at SEER’s planned “biocarbon” production facilities in Texas and Saudi Arabia.

“DevvStream is emerging as one of the international leaders in the carbon credit industry with customers and projects worldwide and SEER has technologies and opportunities that fit well into DevvStream’s growth objectives,” said John Combs, SEER’s CEO.

“The carbon credit market is already a trillion-dollar market and is expected to more than double by 2028,” said Sunny Trinh, DevvStream’s CEO. “DevvStream is committed to rapidly increasing its stakeholder value by aggressively pursuing market share in this exploding market space. After assessing SEER’s technologies and its impressive customer base, including some of the world’s largest food, beverage and agriculture companies, it became clear that leveraging SEER’s technologies is an immediate way to harvest and monetize high-quality carbon credits for the mutual benefit of the companies and their shareholders,” said Trinh.

“SEER’s wholly-owned affiliate, MV Technologies, has two primary opportunities to decarbonize and generate valuable carbon credits,” said Combs. MV has its patented V3RU oil field technology and its proprietary and proven biogas conditioning solution. SEER’s wholly owned MV affiliate has more than 150 of its gas treatment and odor control systems installed at refineries and biogas facilities throughout North America with some of the world’s largest energy and utility companies, as well as food processors, brewers, landfills, and food, beverage and agriculture industries. “We believe there is a tremendous initial opportunity for SEER and DevvStream to partner for the benefit of SEER’s customers to harvest and sell fully-insured carbon credits that are created in and around the biogas and RNG industry,” said Combs. “We have been focused on decarbonization technologies and opportunities for SEER and, after multiple conferences and strategic planning sessions with DevvStream management, it was a logical next step to partner with them to assess our existing opportunities to harvest and monetize carbon credits arising out of the renewable biogas market and the capture and conditioning of methane in the oil fields,” Combs added.

“After discussions with the DevvStream team, it became clear that another possible source for decarbonization and generation of carbon credits arises from our patented V3RU oil field technology. This variable volume vapor recovery unit can be placed at any number of the thousands of smaller vertical gas and oil wells throughout the US to prevent the emissions of harmful fugitive greenhouse gases into the atmosphere. Working with DevvStream and having access to its customers and decarbonization projects, we are better positioned to place our V3RU technology, quantify the beneficial impact of the solution, and, ultimately, generate valuable carbon credits that can be monetized for the benefit of all parties.” said Combs.

“Finally, having achieved remarkable initial success with our Saudi partner, Eco Tadweer, and impressive results with our early city park planting and grow studies as part of the Green Riyadh initiative (https://www.rcrc.gov.sa/en/projects/green-riyadh-project), SEER and DevvStream are confident we can expand our collective participation in these projects to include more effective generation and monetization of high-value carbon credits to enhance the already enormous environmental impact of the Kingdom’s efforts to decarbonize the planet,” said Combs.

“Eco Tadweer is excited about SEER and DevvStream working together,” said Areej Alturki, President of Eco Tadweer. “Their partnership will add to the ongoing success, both environmentally and financially, that Eco Tadweer is achieving here in the Kingdom. As we move forward with our plans to produce the highest quality biocarbon here in Saudi Arabia, we will be committed to maximizing the monetization of the insured carbon credits and look forward to working with our partner, SEER, and DevvStream to achieve maximum value for all our Saudi stakeholders,” concluded Alturki.

________________________________

About Strategic Environmental & Energy Resources, Inc.

Strategic Environmental & Energy Resources, Inc. (SEER) (OTCQB: SENR), identifies, secures, and commercializes patented and proprietary environmental clean technologies in several multibillion-dollar sectors (including oil & gas, renewable fuels, and all types of waste management, both solid and gaseous) for the purpose of either destroying/minimizing hazardous waste streams more safely and at lower cost than any competitive alternative, and/or processing the waste for use as a renewable fuel for the benefit of the customers and the environment. SEER has two wholly-owned operating subsidiaries: MV Technologies, LLC and SEER Environmental Materials, LLC; and two majority-owned subsidiaries: Paragon Waste Solutions, LLC; and PelleChar, LLC. For more information about the Company visit: www.seer-corp.com.

About DevvStream

Founded in 2021, DevvStream is a leading authority in the use of technology in carbon project development. The Company’s mission is to create alignment between sustainability and profitability, helping organizations achieve their climate initiatives while directly improving their financial health.

With a diverse approach to the carbon market, DevvStream operates across three strategic domains: (1) an offset portfolio consisting of nature-based, tech-based, and carbon sequestration credits for immediate sale to corporations and governments seeking to offset their most difficult-to-reduce emissions; (2) project investment, acquisitions, and industry consolidation to extend the company’s reach, allowing it to become a full end-to-end solutions provider; and (3) project development, where the company serves as project manager for eligible activities such as EV charging in exchange for a percentage of generated credits.

For more information, please visit www.devvstream.com

Forward-Looking Statements

This press release contains “forward-looking statements” within the meaning of various provisions of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, commonly identified by such terms as “believes,” “looking ahead,” “anticipates,” “estimates,” and other terms with similar meaning. Although the company believes that the assumptions upon which its forward-looking statements are based are reasonable, it can give no assurance that these assumptions will prove to be correct. Such forward-looking statements should not be construed as fact. Statements in this press release regarding future performance or fiscal projections, the cost-effectiveness, impact, and ability of the Company’s products to handle the future needs of customers are forward-looking statements. The information contained in such statements is beyond the ability of the Company to control, and in many cases the Company cannot predict what factors would cause results to differ materially from those indicated in such statements. All forward-looking statements in the press release are expressly qualified by these cautionary statements and by reference to the underlying assumptions.

Contact Information:


[email protected]

BREA, Calif., Dec. 12, 2024 (GLOBE NEWSWIRE) — via IBN — Mullen Automotive, Inc. (NASDAQ: MULN) (“Mullen” or the “Company”), an electric vehicle (“EV”) manufacturer, announces today that its subsidiary, Bollinger Motors (“Bollinger”), has delivered its first 25 B4 trucks, with a retail sales value of approximately $4.1 million during the nearly three months since the company’s September start of production. The company credited the strong sales start to the vehicle’s design and functionality, combined with its strong nationwide dealer network.

The 2025 Bollinger B4 chassis cab is an all-new, all-electric Class 4 commercial truck designed from the ground up with extensive fleet and upfitter input. Bollinger’s unique chassis design protects the 158-kWh battery pack and components to offer unparalleled capability and safety in the commercial market. The vehicle also features a payload in excess of 7,300 pounds with an average driving range of 185 miles. Bollinger Motors began serial production of the B4 on Sept. 16 via its manufacturing partnership with Roush Industries at their facility in Livonia, Michigan.

“It is gratifying to see the Bollinger B4 rolling off the line, onto dealer lots and into customer fleets,” said Jim Connelly, chief revenue officer for Bollinger Motors. “This vehicle has been designed and engineered to provide fleet owners with an economical, sustainable transportation option capable of providing a wide variety of vehicle use cases. Initial customer reaction has been positive, and we have built strong momentum as we head into 2025, with a growing number of significant orders in-process.”

Connelly credited the Bollinger Motors’ nationwide dealer sales and service network for helping the company get out of the gate quickly. During 2024, Bollinger Motors has announced agreements with some of the industry’s top commercial vehicle dealers, including Anderson Motors, TEC Equipment, Nacarato Truck Centers, Bergey’s Truck Centers, Broadway Ford Truck Center, and Affinity Truck Center. The company will continue adding to this impressive dealer roster in key markets in 2025.

Bollinger Motors has passed numerous milestones during this period, including:

• Its production launch on Sept. 16 at Roush Industries in Livonia, Michigan;
• Achieving FMVSS compliance;
• Receiving the Certificate of Conformity from the Environmental Protection Agency, and CARB certification;
• The creation of a world-class dealer and service network;
• An agreement with Our Next Energy in Novi, Michigan, for battery packs;
• Providing a full warranty coverage of the B4 chassis cab; and,
• Announcing Syncron as its warranty administration partner and Amerit Fleet Solutions as its mobile service provider.

About Bollinger Motors

Founded in 2015 by Robert Bollinger, Bollinger Motors, Inc. is a U.S.-based company headquartered in Oak Park, Michigan. Bollinger Motors is developing all-electric commercial chassis cab trucks, Classes 4-6. In September of 2022, Bollinger Motors became a majority-owned company of Mullen Automotive, Inc. (NASDAQ: MULN). Learn more at www.BollingerMotors.com and www.MullenUSA.com.

About Mullen

Mullen Automotive (NASDAQ: MULN) is a Southern California-based automotive company building the next generation of commercial electric vehicles (“EVs”) with two United States-based vehicle plants located in Tunica, Mississippi, (120,000 square feet) and Mishawaka, Indiana (650,000 square feet). In August 2023, Mullen began commercial vehicle production in Tunica. In September 2023, Mullen received IRS approval for federal EV tax credits on its commercial vehicles with a Qualified Manufacturer designation that offers eligible customers up to $7,500 per vehicle. As of January 2024, both the Mullen ONE, a Class 1 EV cargo van, and Mullen THREE, a Class 3 EV cab chassis truck, are California Air Resource Board (“CARB”) and EPA certified and available for sale in the U.S. Recently, CARB issued HVIP approval on the Mullen THREE, Class 3 EV truck, providing up to $45,000 cash voucher at time of vehicle purchase. The Company has also recently expanded its commercial dealer network to seven dealers, which includes Papé Kenworth, Pritchard EV, National Auto Fleet Group, Ziegler Truck Group, Range Truck Group, Eco Auto, and Randy Marion Auto Group, providing sales and service coverage in key West Coast, Midwest, Pacific Northwest, New England and Mid-Atlantic markets.

To learn more about the Company, visit www.MullenUSA.com.

Mullen Forward-Looking Statements

Certain statements in this press release that are not historical facts are forward-looking statements within the meaning of Section 27A of the Securities Exchange Act of 1934, as amended. Any statements contained in this press release that are not statements of historical fact may be deemed forward-looking statements. Words such as “continue,” “will,” “may,” “could,” “should,” “expect,” “expected,” “plans,” “intend,” “anticipate,” “believe,” “estimate,” “predict,” “potential” and similar expressions are intended to identify such forward-looking statements. All forward-looking statements involve significant risks and uncertainties that could cause actual results to differ materially from those expressed or implied in the forward-looking statements, many of which are generally outside the control of Mullen and Bollinger Motors and are difficult to predict. Examples of such risks and uncertainties include timing of delivery of the newly ordered B4 trucks; how many vehicles Bollinger will sell; whether Bollinger dealers will order further vehicles; whether the Bollinger B4 will prove successful; how long state and federal electric vehicle incentive programs will continue to apply; the ability of Bollinger Motors’ B4 Class trucks to qualify for such incentive programs; and the impact of incentive programs on the resultant price of the Bollinger B4 Class trucks.

Additional examples of such risks and uncertainties include but are not limited to: (i) Mullen and Bollinger Motors’ ability (or inability) to obtain additional financing in sufficient amounts or on acceptable terms when needed; (ii) Mullen and Bollinger Motors’ ability to maintain existing, and secure additional, contracts with manufacturers, parts and other service providers relating to its business; (iii) Mullen and Bollinger Motors’ ability to successfully expand in existing markets and enter new markets; (iv) Mullen and Bollinger Motors’ ability to successfully manage and integrate any acquisitions of businesses, solutions or technologies; (v) unanticipated operating costs, transaction costs and actual or contingent liabilities; (vi) the ability to attract and retain qualified employees and key personnel; (vii) adverse effects of increased competition on Mullen and Bollinger Motors’ business; (viii) changes in government licensing and regulation that may adversely affect Mullen and Bollinger Motors’ business; (ix) the risk that changes in consumer behavior could adversely affect Mullen and Bollinger Motors’ business; (x) Mullen and Bollinger Motors’ ability to protect its intellectual property; (xi) the vehicles developed will perform as expected and (xii) local, industry and general business and economic conditions. Additional factors that could cause actual results to differ materially from those expressed or implied in the forward-looking statements can be found in the most recent annual report on Form 10-K, quarterly reports on Form 10-Q, and current reports on Form 8-K filed by Mullen Automotive, Inc., of which Bollinger Motors is a partially owned subsidiary, with the Securities and Exchange Commission. Mullen and Bollinger Motors anticipate that subsequent events and developments may cause the Company’s plans, intentions and expectations to change. Mullen and Bollinger Motors assume no obligation, and specifically disclaim any intention or obligation, to update any forward-looking statements, whether because of new information, future events or otherwise, except as expressly required by law. Forward-looking statements speak only as of the date they are made and should not be relied upon as representing Mullen and Bollinger Motors’ plans and expectations as of any subsequent date.

Bollinger Media Contact: 

Mike DeVilling
(248) 875-4207, 
[email protected] 

Contact:

Mullen Automotive, Inc.
+1 (714) 613-1900
www.MullenUSA.com

Corporate Communications:

InvestorBrandNetwork (IBN)
Los Angeles, California
www.InvestorBrandNetwork.com
310.299.1717 Office
[email protected] 

Attachment

• Bollinger off to solid start since production launch in September

CALGARY, Alberta, Dec. 12, 2024 (GLOBE NEWSWIRE) — XORTX Therapeutics Inc. (“XORTX” or the “Company”) (NASDAQ: XRTX | TSXV: XRTX | Frankfurt: ANU), a late-stage clinical pharmaceutical company focused on developing innovative therapies to treat progressive kidney disease, is pleased to announce a presentation by Dr. Allen Davidoff at the Rare and Genetic Kidney Disease Summit, in Boston, Massachusetts at 10:30 am ET, Thursday December 12, 2024. The presentation entitled “Autosomal Dominant Polycystic Kidney Disease – Genetic and Environmental Factors → Evidence for Aberrant Purine Metabolism as a Second Hit Determining Disease Progression.”

The presentation highlights XORTX recent pioneering discoveries in the field of Autosomal Dominant Polycystic Kidney Disease (“ADPKD”), and recent peer-reviewed, independent, published research reports identifying genetic factors that influence over-expression of xanthine oxidase (“XO”) and play a role in several diseases, including kidney disease. These ground-breaking findings suggest that genetic factors that influence aberrant purine metabolism may influence the rate of progression of ADPKD.

Dr. Allen Davidoff, CEO of XORTX, stated, “The recent identification of genetic factors that increase the expression of XO, and/or contribute to chronic hyperuricemia support the concept of a “second hit” – a factor or factors that accelerate the rate of disease progression when present. These new discoveries are an important first step in our understanding of why ADPKD progression may vary substantially even amongst family members. These discoveries highlight an opportunity to develop a personalized therapeutic approach for individuals whose unique genetic factors predisposed them to ADPKD, and the need for XO inhibition to treat those individuals at risk. We believe that XORTX’s expertise in developing XO inhibitors, protected by a patent portfolio that anticipated this opportunity, combined with our therapeutic platform is ideally positioned to deliver targeted therapeutics to individuals. Our planned clinical trial in patients with ADPKD will provide an opportunity to further understand the role of these newly identified genetic factors in individuals with progressive kidney disease.”

About Xanthine Oxidase

Evidence for over-expression of XO in human PKD has not been reported to date, although work by Wang et al. suggests linkage of genetic factors to PKD¹. Recently, new emerging discoveries link genetic factors to specific populations and show that higher XO expression is associated with a variety of conditions including hyperuricemia², sepsis, organ failure and sepsis associated acute respiratory distress syndrome (ARDS)^3,4, kidney dysfunction^3,4, diabetes⁵, polycystic kidney disease^1,5 and kidney failure^6,7. From a mechanistic standpoint, these studies advocate for a precision-medicine approach in which genetic risk variants would guide treatment decisions¹.

References:

1. Korsmo HW, Emerging roles of xanthine oxidoreductase in chronic kidney disease, Antioxidants, June 2024
2. Major TJ, et all, Evaluation of the diet wide contribution to serum urate levels: Met-analysis of population-based cohorts, BMJ, 363, k3952, 2018
3. Gao, Li et al., Xanthine oxidoreductase gene polymorphism are associated with high risk of sepsis and organ failure, Respir. Res, 24, 177_2023
4. Liu H, et al., Genetic variants in XDH are associated with prognosis off gastric cancer in a Chines population, 663, 196, 2013
5. Wang et al., Genetic susceptibility to diabetic kidney disease is linked to promoter variants of XOR. “The authors identified an expression quantitative trait loci (QTL) in the cis-acting regulatory region of the xanthine dehydrogenase, or xanthine oxidoreductase (XO), a binding site for C/EBPβ, to be associated with diabetes-induced podocyte loss in diabetic kidney disease in male mice.  They concluded that certain types of alleles of a gene that controls the expression of xanthine oxidase can be over expressed in CKD, diabetic kidney disease and polycystic kidney disease.
6. Kudo M et al., Functional Characterization of Genetic Polymorphisms Identified In the Promotor Region of the Xanthine Oxidase Gene, Drug Metab. Pharmacokinet., 25, 599, 2010
7. Boban M, et al., Circulating purine compound, uric acid, and xanthine oxidase/dehydrogenate relationship in essential hypertension and end stage renal disease., Ren. Fail., 36, 613, 2014

About XORTX Therapeutics Inc.

XORTX is a pharmaceutical company with two clinically advanced products in development: 1) our lead, XRx-008 program for ADPKD; and 2) our secondary program in XRx-101 for acute kidney and other acute organ injury associated with Coronavirus / COVID-19 infection. In addition, XRx-225 is a pre-clinical stage program for Type 2 Diabetic Nephropathy. XORTX is working to advance its clinical development stage products that target aberrant purine metabolism and xanthine oxidase to decrease or inhibit production of uric acid. At XORTX, we are dedicated to developing medications to improve the quality of life and health of kidney disease patients. Additional information on XORTX is available at www.xortx.com.

For more information, please contact:

Neither the TSX Venture Exchange nor Nasdaq has approved or disapproved the contents of this news release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.

Forward Looking Statements

This press release contains express or implied forward-looking statements pursuant to applicable securities laws. These forward-looking statements include, but are not limited to, the Company’s beliefs, plans, goals, objectives, expectations, assumptions, estimates, intentions, future performance, other statements that are not historical facts and statements identified by words such as “expects”, “anticipates”, “intends”, “plans”, “believes”, “seeks”, “estimates” or words of similar meaning. These forward-looking statements and their implications are based on the current expectations of the management of XORTX only, and are subject to a number of factors and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. Such risks, uncertainties, and other factors include, but are not limited to, our ability to obtain additional financing; the accuracy of our estimates regarding expenses, future revenues and capital requirements; the success and timing of our preclinical studies and clinical trials; the performance of third-party manufacturers and contract research organizations; our plans to develop and commercialize our product candidates; our plans to advance research in other kidney disease applications; and, our ability to obtain and maintain intellectual property protection for our product candidates. Except as otherwise required by applicable law and stock exchange rules, XORTX undertakes no obligation to publicly release any revisions to these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. More detailed information about the risks and uncertainties affecting XORTX is contained under the heading “Risk Factors” in XORTX’s Annual Report on Form 20-F filed with the SEC, which is available on the SEC’s website, www.sec.gov (including any documents forming a part thereof or incorporated by reference therein), as well as in our reports, public disclosure documents and other filings with the securities commissions and other regulatory bodies in Canada, which are available on www.sedarplus.ca.