TORONTO, Nov. 13, 2026 /CNW/ -- The K2 Principal Fund L.P. ("K2") announces that on November 12, 2026, it acquired 7,990,642 common shares of Vimy Pharmaceuticals Corp. (formerly Harmony Acquisitions Corp.) ("Vimy Pharma") in connection with the completion of Vimy Pharma's qualifying transaction (the "Transaction") with Vimy Pharmaceuticals Inc., a private company ("Private Vimy"), by way of three-cornered amalgamation. K2 received 7,490,642 common shares in exchange for its shares of Private Vimy and 500,000 common shares in respect of 500,000 subscription receipts purchased by K2 at $3.00 per subscription receipt, for a total cost of $1,500,000, under the brokered private placement completed in connection with the Transaction. The shares were not acquired through a marketplace. Vimy Pharma's common shares are anticipated to commence trading on the TSX Venture Exchange ("TSXV"), subject to receipt of final approval by the TSXV, on or about November 17, 2026.

Prior to the Transaction, K2 did not own, or exercise control or direction over, any securities of Vimy Pharma, and held 7,490,642 shares of Private Vimy (post 34-for-1 share split). After the Transaction, K2 holds 7,990,642 common shares of Vimy Pharma representing approximately 24.70% of the 32,347,829 issued and outstanding common shares, an increase of approximately 24.70%. K2 acquired ownership of, and K2 & Associates (as defined below), as manager of K2, acquired control or direction over, such common shares. K2's total cost of these shares is $5,906,260, or approximately $0.7391 per share.

K2 acquired the common shares for investment purposes. The 7,490,642 common shares received under the Transaction are subject to a TSXV Tier 2 escrow agreement, with 10% released on the date of the TSXV bulletin confirming final acceptance of the Transaction and 15% released every six months thereafter over 36 months. All of K2's Vimy Pharma shares, including those issued in respect of subscription receipts purchased under the private placement, are also subject to contractual transfer restrictions for up to 12 months following closing. Subject to these restrictions, K2 may, depending on market and other conditions, increase or decrease its holdings of Vimy Pharma securities through market transactions, private agreements or otherwise.

K2 is also party to a nomination rights agreement with Vimy Pharma dated November 12, 2026, under which, for so long as K2 and its affiliates hold at least 10% of the outstanding common shares of Vimy Pharma (on a non-diluted basis), K2 is entitled to designate one nominee for election or appointment to Vimy Pharma's board of directors and to replace that nominee from time to time. Riccardo Trecroce is K2's initial nominee. If K2's holding falls below 10%, it will instead be entitled to appoint a non-voting observer to Vimy Pharma's board until the agreement terminates in accordance with its terms. In addition, K2 is a party to a registration rights agreement with Vimy Pharma dated November 12, 2026, granting it demand and piggy-back registration rights in respect of its common shares. Other than as disclosed above, K2 currently has no plans or intentions that relate to or would result in any of the matters described in Item 5 of Form 62-103F1 – Required Disclosure under the Early Warning Requirements.

Vimy Pharmaceuticals Corp. is located at 2 Bloor Street West, Suite 2002, Toronto, Ontario, M4W 3E2. K2's office is located at 2 Bloor Street West, Suite 801, Toronto, Ontario, M4W 3E2. K2 & Associates Investment Management Inc. ("K2 & Associates") is the fund manager to The K2 Principal Fund L.P. Each of K2 and K2 & Associates was formed under the laws of the Province of Ontario and is engaged in the business of investing in securities.

SOURCE K2 Principal Fund L.P.