some late day news....SHORT FORM PROSPECTUS New Issue February 24, 2021 SERNOVA CORP. $20,040,000 (16,700,000 Units) $1.20 per Unit This short form prospectus (the “Prospectus”) qualifies the distribution (the “Offering”) of 16,700,000 units (the “Units”) of Sernova Corp. (“Sernova” or the “Company”), at a price of $1.20 per Unit (the “Offering Price”) for aggregate gross proceeds of $20,040,000. Each Unit consists of one common share in the capital of the Company (a “Common Share”, and each Common Share comprising part of a Unit, a “Unit Share”) and one Common Share purchase warrant (a “Warrant”). Each Warrant will entitle the holder thereof to purchase one Common Share (a “Warrant Share”) at an exercise price of $1.70 per Warrant Share, subject to adjustment in certain circumstances, at any time prior to 5:00 p.m. (Toronto time) on the date that is 24 months following the Closing Date (as defined below) (the “Expiry Date”). If, at any time following the closing of the Offering, the daily volume weighted average trading price of the Common Shares on the TSX Venture Exchange (the “TSXV”) is greater than C$3.05 per Common Share for the preceding 10 consecutive trading days, the Company shall have the right to accelerate the expiry date of the Warrants to a date that is not less than 30 trading days following the date of the Company issuing a press release or by providing notice to the holders of Warrants disclosing such acceleration. The Warrants shall be governed by the terms of a warrant indenture (the “Warrant Indenture”) to be dated as of the Closing Date between the Company and AST Trust Company (Canada) (the “Warrant Agent”), as warrant agent. The Units are being offered and sold pursuant to the terms of an underwriting agreement (the “Underwriting Agreement”) to be entered into among the Company, Canaccord Genuity Corp. (“Canaccord”) and Leede Jones Gable Inc. (“Leede” and together with Canaccord, the “Underwriters”). The terms of the Offering, including the Offering Price, were determined by arm’s length negotiation between the Company and the Underwriters with reference to the prevailing market price of the Common Shares on the TSXV. The Units will be offered in each of the Provinces of Canada, other than Quebec. Certain insiders of the Company may purchase Units under the Offering. See “Plan of Distribution”. 2 The issued and outstanding Common Shares of the Company are listed on the TSXV under the symbol “SVA”. On February 23, 2021, the last day the Common Shares traded on the TSXV prior to the date of this Prospectus, the closing price of the Common Shares on the TSXV was $1.58. The Common Shares are also listed under the symbol “SEOVF” on the OTCQB Venture Market, under the symbol “PSH” on the Frankfurt Stock Exchange and on the Deutsche Borse AG, an electronic trading platform operated by the Frankfurt Stock Exchange. An investment in the Units is subject to a number of risks that should be considered by a prospective purchaser. See “Risk Factors”. Price to the Public Underwriters’ Fee (1)(2)(3)(6) Net Proceeds to the Company (1)(6) Per Unit $1.20 $0.078 $1.122 Total $20,040,000 (1) $1,302,600 $18,337,400(4)(5)