Many Bright Ideas Technologies Inc. — Capital/Financing Update 2021

Feb 5, 2021

MED BIOGENE INC. 598 East Kent Avenue South Vancouver, BC V5X 4V6 Phone: 604-732-7332

NEWS RELEASE

MED BIOGENE INC. ANNOUNCES CLOSING OF PRIVATE PLACEMENT

Vancouver, British Columbia – February 4, 2021 – Med BioGene Inc. ( “ MBI " or the “ Company”) (TSXV: MBI) is pleased to announce that it has completed its previously announced non-brokered private placement (the " Private Placement ") for aggregate proceeds of $100,000. The Company issued 2,000,000 common shares of the Company (each, a “ Share ”) at a price of $0.05 per Share.

The proceeds from the sale of the Shares will be used for repayment of operating debts and the balance of future operating expenses.

The Private Placement is subject to acceptance by the TSX Venture Exchange. All securities issued in connection with the Private Placement are subject to a four month hold period that will expire on June 5, 2021.

Multilateral Instrument 61-101

Weir-Jones Engineering Consultants Ltd. (“ WJEC ”), a company controlled by Iain Weir-Jones, the Chief Executive Officer, Chairman and a director, purchased all the Shares offered in connection with the Private Placement. The participation of WJEC is considered to be a "related party transaction" as defined under Multilateral Instrument 61-101 (" MI 61-101 "). The transaction is exempt from the formal valuation and minority shareholder approval requirements of MI 61101 as neither the fair market value of the securities to be distributed in the Private Placement nor the consideration to be received for those securities, in so far as the Private Placement involves WJEC, exceeds 25% of the Company’s market capitalization.

Early Warning Disclosure

Iain Weir-Jones, through WJEC, acquired ownership of 2,000,000 Shares in the Private Placement. Prior to the Private Placement, Iain Weir-Jones and WJEC held 2,077,452 Shares, 690,000 options to purchase Shares (each, an “ Option ”) and 1,389,000 Share purchase warrants of the Company (each, a “ Warrant ”), which represented 15.67% of the issued and outstanding Shares of the Company on a non-diluted basis or 27.10% of the Company’s issued and outstanding Shares on a partially-diluted basis assuming exercise of Iain Weir-Jones and WJEC’s Options and Warrants only. After giving effect to the Private Placement, Iain Weir-Jones and WJEC beneficially own and control a total of 4,077,452 Shares, 690,000 Options and 1,389,000 Warrants. These securities represent 26.72% of the Company’s issued and outstanding Shares on a non-diluted basis or 35.51% of the Company’s issued and outstanding Shares on a partially-diluted basis assuming exercise of Iain Weir-Jones and WJEC’s Options and Warrants only. Iain Weir-Jones, through WJEC, acquired the Shares for investment purposes. Iain Weir-Jones intends to evaluate his investment in the Company and to increase or decrease his shareholdings from time to time as he may determine appropriate.

To obtain a copy of the early warning report filed by Iain Weir-Jones, please contact Iain WeirJones at iainw@medbiogene.com or refer to SEDAR under the Company’s issuer profile at www.sedar.com.

For further information contact:

Iain Weir-Jones, Chief Executive Officer and Chairman of the Board of Directors iainw@medbiogene.com www.medbiogene.com

The TSX Venture Exchange has neither approved nor disapproved of the contents of this news release. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.