Dear Shareholder,
This communication is to update you on the status of the transaction entered into on 15 May 2025, whereby Alterola Biotech Inc. entered into a share exchange agreement with Protagenic Therapeutics Inc.
We formally announced this in an 8-K filing with the SEC on 30 June 2025 and, to avoid unnecessary expenditure, filed a Form 15-15D to announce we were becoming non-reporting—hence this update.
In essence, following a shareholder vote of Protagenic Therapeutics, Inc. (expected by 1 September 2025), Alterola shareholders would be provided the opportunity to swap their pro rata shareholding in Alterola Biotech, Inc. (ABTI shares) for shares in Protagenic Therapeutics, Inc. (PTIX shares), with ratios determined on a pro rata basis.
Protagenic Therapeutics, Inc. made an announcement via an 8-K on 13 August 2025 which raises serious concerns to the Alterola Biotech Inc. directors. Accordingly, the directors of Alterola Biotech Inc. are taking appropriate advice to ensure we take the most appropriate actions to best serve the interests of our shareholders. We will provide further updates, as appropriate, to keep you informed of the situation.
Sincerely,
The Alterola Biotech Inc. Directors