Redwood AI Provides Update on Special Warrant Financing

Vancouver, Canada – October 20, 2026 – TheNewswire - Redwood AI Corp. (CSE: AIRX ) (OTCQB: RDWCF ) (Frankfurt: Y0N , WKN: A422EZ ) (“ Redwood ” or the “ Company ”), announces an update regarding its previously completed brokered private placement of 1,663,000 special warrants (the “ Special Warrants ”), which closed on July 21, 2026, for aggregate gross proceeds of approximately $3.5 million (the “ Offering ”), with Maxim Group LLC (“ Maxim ”) acting as exclusive placement agent. Pursuant to the terms of the Special Warrants and the agency agreement between the Company and Maxim dated July 16, 2026, entered into in connection with the Offering, the Company agreed to use commercially reasonable efforts to, within 90 days of the closing of the Offering (the “ Penalty Deadline ”), qualify the distribution of the units issuable upon deemed exercise of the Special Warrants by way of a prospectus supplement (the “ Prospectus Supplement ”) to a final short form base shelf prospectus (the “ Final Prospectus ”). As the Prospectus Supplement was not filed by the Penalty Deadline, the penalty provisions of the Special Warrants apply, increasing the number of units of the Company (each, a “ Un

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