Perimeter Medical Imaging AI Announces Publication of New Clinical Evidence Featuring Case Studies from Commercial Use of Perimeter S-Series OCT

TORONTO and DALLAS, March 29, 2023 /CNW/ - (TSXV: PINK) (OTC: PYNKF) (FSE: 4PC) – Perimeter Medical Imaging AI, Inc. ("Perimeter" or the "Company") – a commercial-stage medical technology company – announced the publication of a new white paper entitled "Use of adjunct wide-field optical coherence tomography to visualize margins during breast conserving surgery for ductal carcinoma in situ: a case series," which features three case studies from the commercial use of its innovative Perimeter S-Series OCT technology.

Perimeter S-Series OCT is an ultra-high-resolution medical imaging tool with FDA 510(k) clearance that uses Optical Coherence Tomography (OCT) to provide clinicians with cross-sectional, real-time margin visualization 1-2 mm below the surface of an excised tissue specimen.

Dr. Amelia Tower, a board-certified general surgeon with advanced training in breast surgical oncology based in Fort Worth, TX, authored the paper and describes how she integrated the Perimeter S-Series OCT system into her breast oncology practice. She concludes that when assisted by Perimeter S-Series OCT in these three case studies, she was able to make intraoperative clinical decisions to excise additional tissue during the primary surgeries, sparing the three patients the need for a second surgery and relieving the associated burden on clinical, economic, and psychosocial resources.

Jeremy Sobotta, Perimeter's Chief Executive Officer stated, "We are encouraged and excited by the results from the case studies featured in this newly published white paper. We believe that bringing Perimeter's transformative ultra-high resolution medical imaging technology directly into the OR can assist the surgeon with real-time intraoperative margin visualization – with the aim of improving patient outcomes and reducing healthcare costs. The new white paper was also featured at the recent SSO 2023 International Conference on Surgical Cancer Care that took place in Boston, MA, where we connected with innovative, leading surgeons to educate them on the benefits of using Perimeter's technology in their surgical practices."

Based in Toronto, Canada and Dallas, Texas, Perimeter Medical Imaging AI (TSX-V: PINK) (OTC: PYNKF) (FSE: 4PC) is a medical technology company driven to transform cancer surgery with ultra-high-resolution, real-time, advanced imaging tools to address areas of high unmet medical need. Available across the U.S., our FDA-cleared Perimeter S-Series OCT system provides real-time, cross-sectional visualization of excised tissues at the cellular level. The breakthrough-device-designated investigational Perimeter B-Series OCT with ImgAssist AI represents our next-generation artificial intelligence technology that is currently being evaluated in a pivotal clinical trial, with support from a grant of up to US$7.4 million awarded by the Cancer Prevention and Research Institute of Texas. The company's ticker symbol "PINK" is a reference to the pink ribbons used during Breast Cancer Awareness Month.

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This news release contains statements that constitute "forward-looking information" within the meaning of applicable Canadian securities legislation. In this news release, words such as "may," "would," "could," "will," "likely," "believe," "expect," "anticipate," "intend," "plan," "estimate," and similar words and the negative form thereof are used to identify forward-looking statements. Forward-looking information may relate to management's future outlook and anticipated events or results and may include statements or information regarding the future financial position, business strategy and strategic goals, competitive conditions, research and development activities, projected costs and capital expenditures, research and clinical testing outcomes, taxes and plans and objectives of, or involving, Perimeter. Without limitation, information regarding the potential benefits of Perimeter S-Series OCT, Perimeter B-Series OCT, and Perimeter ImgAssist are forward-looking information. Forward-looking statements should not be read as guarantees of future performance or results, and will not necessarily be accurate indications of whether, or the times at or by which, any particular result will be achieved. No assurance can be given that any events anticipated by the forward-looking information will transpire or occur. Forward-looking information is based on information available at the time and/or management's good-faith belief with respect to future events and are subject to known or unknown risks, uncertainties, assumptions, and other unpredictable factors, many of which are beyond Perimeter's control. Such forward-looking statements reflect Perimeter's current view with respect to future events, but are inherently subject to significant medical, scientific, business, economic, competitive, political, and social uncertainties and contingencies. In making forward-looking statements, Perimeter may make various material assumptions, including but not limited to (i) the accuracy of Perimeter's financial projections; (ii) obtaining positive results from trials; (iii) obtaining necessary regulatory approvals; and (iv) general business, market, and economic conditions. Further risks, uncertainties and assumptions include, but are not limited to, those applicable to Perimeter and described in Perimeter's Management Discussion and Analysis for the year ended December 31, 2021, which is available on Perimeter's SEDAR profile at www.sedar.com, and could cause actual events or results to differ materially from those projected in any forward-looking statements. Perimeter does not intend, nor does Perimeter undertake any obligation, to update or revise any forward-looking information contained in this news release to reflect subsequent information, events, or circumstances or otherwise, except if required by applicable laws.

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SOURCE Perimeter Medical Imaging AI, Inc.

Released March 29, 2023