Board Change • May 20
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 3 experienced directors. No highly experienced directors. CEO & Director Pete Shippen was the last director to join the board, commencing their role in 2021. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Announcement • Jan 14
Britannia Life Sciences Inc., Annual General Meeting, Feb 24, 2026 Britannia Life Sciences Inc., Annual General Meeting, Feb 24, 2026. Announcement • Nov 03
McEwen Inc. (NYSE:MUX) signed agreement to acquire an unknown minority stake in Britannia Mining Solutions Inc. from Britannia Life Sciences Inc. (CNSX:BLAB). McEwen Inc. (NYSE:MUX) signed agreement to acquire an unknown minority stake in Britannia Mining Solutions Inc. from Britannia Life Sciences Inc. (CNSX:BLAB) on November 3, 2025. McEwen will acquire a 31% equity interest in Britannia Mining Solutions through a strategic investment by purchasing 648,002 shares from Britannia Life Sciences Inc. and 226,286 shares from Paragon Geochemical Laboratories Inc. via a private placement, both at a deemed price of CAD 17.50 per Britannia Mining Solutions share. The total consideration of CAD 15.3 million will be payable in shares of McEwen. Upon completion of the transaction, McEwen will become Britannia Mining Solutions largest shareholder. Ian Ball, Vice-Chairman of McEwen, will join Britannia Mining Solutions board at the time of listing. In addition, McEwen will have the right to nominate one additional board member. Announcement • Jul 28
Britannia Life Sciences Inc. announced that it expects to receive CAD 10 million in funding Britannia Life Sciences Inc. announced a non-brokered private placement offering of unsecured debentures for gross proceeds of up to CAD 10 million on July 28, 2025. To bear interest at 18% per annum, paid monthly subject to a 60 day delayed accrual, to have a 10-year term from the date of issuance, to be listed on the CSE (subject to prior satisfaction of all CSE listing requirements with respect to the Debentures), to be redeemable by the Company after 2 years at 101% of the then-prevailing market price, to be offered in minimum subscriptions of $50,000. The offering is expected to close on or before September 15, 2025. Buy Or Sell Opportunity • Oct 23
Now 55% undervalued Over the last 90 days, the stock has risen 19% to €0.022. The fair value is estimated to be €0.049, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 12% over the last 3 years. Meanwhile, the company became loss making. Announcement • Oct 11
Britannia Life Sciences Inc. announced that it expects to receive CAD 0.00255 million in funding Britannia Life Sciences Inc. announced a private placement to issue 2% Unsecured Convertible Debenture at principal amount of CAD 2,550 for gross proceeds of CAD 2,550 on October 10, 2024. Under the terms of the first offering, the company will issue CAD 1,275 principal amount 2% unsecured debentures that will have a two-year term and be convertible into common shares of BMS . Pursuant to the second offering, BMS will directly issue CAD 1,275 principal amount 2% unsecured convertible debentures due two years from closing to investors. Each debenture will automatically convert into 100
common shares of BMS, representing a conversion price of CAD 12.75 per common share. Buy Or Sell Opportunity • Oct 07
Now 44% undervalued after recent price drop Over the last 90 days, the stock has fallen 14% to €0.025. The fair value is estimated to be €0.046, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 12% over the last 3 years. Meanwhile, the company became loss making. Buy Or Sell Opportunity • Sep 19
Now 47% undervalued after recent price drop Over the last 90 days, the stock has fallen 48% to €0.012. The fair value is estimated to be €0.022, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 12% over the last 3 years. Meanwhile, the company became loss making. Board Change • Sep 17
High number of new and inexperienced directors There are 3 new directors who have joined the board in the last 3 years. The company's board is composed of: 3 new directors. No experienced directors. No highly experienced directors. Independent Chairman Greg Taylor is the most experienced director on the board, commencing their role in 2021. The company’s lack of experienced directors is considered a risk according to the Simply Wall St Risk Model. Announcement • Sep 17
Britannia Life Sciences Inc., Annual General Meeting, Nov 12, 2024 Britannia Life Sciences Inc., Annual General Meeting, Nov 12, 2024. Reported Earnings • Aug 30
Full year 2024 earnings released: CA$0.029 loss per share (vs CA$0.031 profit in FY 2023) Full year 2024 results: CA$0.029 loss per share (down from CA$0.031 profit in FY 2023). Revenue: CA$7.57m (up 18% from FY 2023). Net loss: CA$4.77m (down 194% from profit in FY 2023). Announcement • Jul 23
Britannia Life Sciences Inc. announced that it has received CAD 0.932 million in funding On July 22, 2024, Britannia Life Sciences Inc. closed the transaction. The company issued 10% 932 unsecured non convertible subordinated debenture units at an issue price of CAD 1,000 per unit for the gross proceeds of CAD 932,000. The transaction included participation from insiders for CAD 260,000. The company paid finder's fees in the amount of CAD 3,500 in connection with the private placement. The debentures will pay interest at a rate of 10% per annum, paid annually in arrears, and have a maturity date of 12 months from the date of issue, subject to extension at the company's option for an additional 12 months. Buy Or Sell Opportunity • Jul 02
Now 31% undervalued after recent price drop Over the last 90 days, the stock has fallen 12% to €0.029. The fair value is estimated to be €0.043, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 25% over the last 3 years. Meanwhile, the company has become profitable. Buy Or Sell Opportunity • Jun 27
Now 21% undervalued after recent price drop Over the last 90 days, the stock has fallen 41% to €0.019. The fair value is estimated to be €0.025, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 25% over the last 3 years. Meanwhile, the company has become profitable. Buy Or Sell Opportunity • May 23
Now 32% undervalued after recent price drop Over the last 90 days, the stock has fallen 33% to €0.029. The fair value is estimated to be €0.043, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 25% over the last 3 years. Meanwhile, the company has become profitable. Buy Or Sell Opportunity • May 08
Now 49% undervalued after recent price drop Over the last 90 days, the stock has fallen 18% to €0.036. The fair value is estimated to be €0.071, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 25% over the last 3 years. Meanwhile, the company has become profitable. Buy Or Sell Opportunity • Mar 14
Now 27% undervalued after recent price drop Over the last 90 days, the stock has fallen 1.5% to €0.033. The fair value is estimated to be €0.044, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 25% over the last 3 years. Meanwhile, the company has become profitable. Reported Earnings • Mar 01
Third quarter 2024 earnings released: EPS: CA$0.003 (vs CA$0 in 3Q 2023) Third quarter 2024 results: EPS: CA$0.003 (up from CA$0 in 3Q 2023). Revenue: CA$1.81m (up 9.6% from 3Q 2023). Net income: CA$535.3k (up CA$589.7k from 3Q 2023). Profit margin: 30% (up from net loss in 3Q 2023). Announcement • Dec 01
Britannia Life Sciences Inc. (CNSX:BLAB) acquired additional 2% stake in Advanced Development & Safety Laboratories Limited for $0.943 million. Britannia Life Sciences Inc. (CNSX:BLAB) acquired additional 2% stake in Advanced Development & Safety Laboratories Limited for $0.943 million on November 22, 2023. The acquisition increases the Company's ownership interest in ADSL to 72%.Britannia Life Sciences Inc. (CNSX:BLAB) completed the acquisition of additional 2% stake in Advanced Development & Safety Laboratories Limited on November 22, 2023. Reported Earnings • Dec 01
Second quarter 2024 earnings released: EPS: CA$0.004 (vs CA$0.007 in 2Q 2023) Second quarter 2024 results: EPS: CA$0.004 (down from CA$0.007 in 2Q 2023). Revenue: CA$2.07m (up 30% from 2Q 2023). Net income: CA$724.2k (down 33% from 2Q 2023). Profit margin: 35% (down from 68% in 2Q 2023). Board Change • Sep 08
High number of new and inexperienced directors There are 3 new directors who have joined the board in the last 3 years. The company's board is composed of: 3 new directors. No experienced directors. No highly experienced directors. Independent Chairman Greg Taylor is the most experienced director on the board, commencing their role in 2021. The company’s lack of experienced directors is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Aug 30
First quarter 2024 earnings released: CA$0.001 loss per share (vs CA$0.031 profit in 1Q 2023) First quarter 2024 results: CA$0.001 loss per share (down from CA$0.031 profit in 1Q 2023). Revenue: CA$1.95m (up 29% from 1Q 2023). Net loss: CA$117.7k (down 103% from profit in 1Q 2023). New Risk • Aug 01
New major risk - Financial position The company's interest payments are not well covered by earnings. Net interest cover: 1.2x This is considered a major risk. If the company is unable to fund interest repayments on its debt through profits, it may be forced into reducing its debt burden through selling assets, undertaking a potentially costly capital raising or even into bankruptcy in the worst case scenario. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (1.2x net interest cover). Share price has been highly volatile over the past 3 months (17% average weekly change). High level of non-cash earnings (33% accrual ratio). Minor Risks Revenue is less than US$5m (CA$6.4m revenue, or US$4.8m). Market cap is less than US$100m (€9.46m market cap, or US$10.4m). Reported Earnings • Aug 01
Full year 2023 earnings released: EPS: CA$0.031 (vs CA$0.14 loss in FY 2022) Full year 2023 results: EPS: CA$0.031 (up from CA$0.14 loss in FY 2022). Revenue: CA$6.40m (down 12% from FY 2022). Net income: CA$5.08m (up CA$20.5m from FY 2022). Profit margin: 79% (up from net loss in FY 2022). Announcement • Jul 29
Britannia Life Sciences Inc., Annual General Meeting, Sep 26, 2023 Britannia Life Sciences Inc., Annual General Meeting, Sep 26, 2023. New Risk • Jul 27
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: €8.94m (US$9.84m) This is considered a major risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (17% average weekly change). Revenue has declined by 6.8% over the past year. Market cap is less than US$10m (€8.94m market cap, or US$9.84m). Minor Risk Revenue is less than US$5m (CA$6.5m revenue, or US$4.9m). Buying Opportunity • Jul 26
Now 29% undervalued after recent price drop Over the last 90 days, the stock is down 3.6%. The fair value is estimated to be €0.057, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 57% over the last 3 years. Earnings per share has declined by 4.3%. Buying Opportunity • Apr 26
Now 31% undervalued Over the last 90 days, the stock is up 47%. The fair value is estimated to be €0.07, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 57% over the last 3 years. Earnings per share has declined by 4.3%. Buying Opportunity • Mar 15
Now 22% undervalued Over the last 90 days, the stock is up 35%. The fair value is estimated to be €0.064, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 57% over the last 3 years. Earnings per share has declined by 4.3%. Reported Earnings • Mar 02
Third quarter 2023 earnings released: EPS: CA$0 (vs CA$0.083 loss in 3Q 2022) Third quarter 2023 results: EPS: CA$0 (improved from CA$0.083 loss in 3Q 2022). Revenue: CA$1.65m (flat on 3Q 2022). Net loss: CA$54.3k (loss narrowed 100% from 3Q 2022). Reported Earnings • Nov 30
Second quarter 2023 earnings released Second quarter 2023 results: EPS: CA$0.007. Revenue: CA$1.59m (down 17% from 2Q 2022). Net income: CA$1.08m (up CA$1.88m from 2Q 2022). Profit margin: 68% (up from net loss in 2Q 2022). Board Change • Nov 16
No independent directors Following the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 3 non-independent directors. Director Greg Taylor was the last director to join the board, commencing their role in 2021. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Aug 31
First quarter 2023 earnings released: EPS: CA$0.031 (vs CA$0.008 in 1Q 2022) First quarter 2023 results: EPS: CA$0.031 (up from CA$0.008 in 1Q 2022). Revenue: CA$1.51m (down 24% from 1Q 2022). Net income: CA$3.42m (up 449% from 1Q 2022). Board Change • Apr 27
No independent directors Following the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 3 non-independent directors. Director Greg Taylor was the last director to join the board, commencing their role in 2021. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Board Change • Mar 10
No independent directors Following the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 3 non-independent directors. Director Greg Taylor was the last director to join the board, commencing their role in 2021. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. 
