SCHEDULE: Shaf QIC LLC and Jonathan Shafmaster Disclose 10.01% Stake in ProMIS Neurosciences

Shaf QIC LLC and Jonathan Shafmaster have disclosed a 10.01% beneficial ownership stake in ProMIS Neurosciences Inc., comprising common shares and warrants.

Summary

• Shaf QIC LLC and Jonathan Shafmaster collectively beneficially own 10,534,639 Common Shares of ProMIS Neurosciences Inc.
• This ownership represents 10.01% of the outstanding Common Shares, calculated based on 51,806,497 shares outstanding as of July 31, 2025.
• The total beneficial ownership includes 5,184,760 existing Common Shares and 5,349,879 Common Shares issuable upon the exercise of warrants.
• None of the warrants are currently exercisable due to a 'Beneficial Ownership Blocker' provision.
• The Beneficial Ownership Blocker prevents the exercise of warrants if it would result in the holder (together with affiliates) obtaining greater than 9.99% of the Issuer's Common Shares.
• The reported amounts in the filing do not give effect to this blocker, meaning the actual number of beneficially owned shares, considering the blocker, is less than the stated 10,534,639 shares.

Sentiment

Score: 6

Explanation: The sentiment is moderately positive due to a significant stake being disclosed, indicating investor interest. However, the beneficial ownership blocker introduces a slight negative nuance by limiting immediate full control or conversion of warrants.

Positives

• A significant beneficial ownership stake of 10.01% by Shaf QIC LLC and Jonathan Shafmaster indicates a notable investment and potential confidence in ProMIS Neurosciences Inc.

Negatives

• The 'Beneficial Ownership Blocker' prevents the immediate exercise of 5,349,879 warrants, limiting the reporting persons' ability to fully convert their potential ownership above 9.99%.

Risks

• The 'Beneficial Ownership Blocker' provision in the warrants restricts the reporting persons from increasing their direct ownership beyond 9.99% through warrant exercise, potentially limiting their influence or control.

Industry Context

This filing is a standard disclosure of significant beneficial ownership, common across all industries, and does not directly relate to broader industry trends or competitive dynamics within the biotechnology or neuroscience sectors. It primarily reflects an investment decision by specific entities/individuals.

Corporate Governance

Stakeholder Impact

• Shareholders: The disclosure of a significant 10.01% stake by Shaf QIC LLC and Jonathan Shafmaster could be viewed positively as a vote of confidence, but the beneficial ownership blocker limits the immediate influence of this large holder.

Key Dates

Keywords

ProMIS Neurosciences, Shaf QIC LLC, Jonathan Shafmaster, Beneficial Ownership, Schedule 13G, Common Shares, Warrants, Biotechnology, Neuroscience, SEC Filing