CLEVELAND, OHIO – (June 1, 2023) – MALACHITE INNOVATIONS, INC. (OTC Mkts: MLCT) (“Malachite”), a public company focused on improving the health and wellness of people and the planet, today released new investor presentations for Malachite and its wholly-owned subsidiary, Graphium Biosciences (“Graphium”), and announced upcoming fundraising efforts to further advance its mission-driven strategy. 

The Malachite Investor Presentation and Graphium Investor Presentation are available for review and download on the Investors section of Malachite’s website at http://[64:ff9b::a763:e8d1]/investors/.

About Malachite Innovations, Inc.

Headquartered in Cleveland, Ohio, Malachite Innovations, Inc. is a public holding company dedicated to improving the health and wellness of people and the planet through a novel and innovative approach to impact investing. Malachite owns and operates a balanced portfolio of operating businesses focused on developing long-term solutions to environmental, social and health challenges, with a particular focus on economically disadvantaged communities. Malachite takes an opportunistic approach to impact investing by leveraging its competitive advantages and looking at solving old problems in new ways. Malachite seeks to thoughtfully allocate its capital into ventures that are expected to make a positive impact on the people-planet ecosystem and generate strong investment returns for its shareholders.

About Graphium Biosciences, Inc.

Graphium Biosciences, Inc., a wholly-owned subsidiary of Malachite Innovations, is developing a novel pharmaceutical grade cannabinoid drug poised to disrupt the $20 billion inflammatory bowel disease market.  Graphium has invented a proprietary patent-pending glycosylation technology that attaches glucose to cannabinoids, thereby creating a glycosylated cannabinoid that is anticipated to unlock the rebalancing effects of the endocannabinoid system to reduce gastrointestinal inflammation but without any psychoactive side effects.  Graphium has developed over 250 glycosylated cannabinoids and endocannabinoids covered by patent filings.  Graphium’s leading drug candidate (VBX-100), a glycosylated-THC molecule, has been awarded an Orphan Drug Designation by the FDA for pediatric ulcerative colitis.  Graphium has developed a drug development plan that advances VBX-100 through its remaining animal studies and Phase I and II clinical studies over a three-year period once sufficient funding is obtained.

Notice Regarding Forward-Looking Statements

This press release contains “forward-statements” as that term is defined in Section 27(a) of the Securities Act of 1933, as amended and Section 21(e) of the Securities Exchange Act of 1934, as amended. Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Although we believe that these statements are based on reasonable assumptions, they are subject to numerous factors that could cause actual outcomes and results to be materially different from those indicated in such statements. Such factors include, among others, the (VBX-100) inherent uncertainties associated with new projects and development stage companies, timing of clinical trials and product development, business strategy and new lines of business. These forward-looking statements are made as of the date of this press release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that any beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that any such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in our annual report on Form 10-K for the most recent fiscal year, our quarterly reports on Form 10-Q and other periodic reports filed from time-to-time with the Securities and Exchange Commission.

Malachite Innovations, Inc.

Investor Relations

P: +1 (216) 304-6556

E: ir@[64:ff9b::a763:e8d1]


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