Aquarius Provides an Update on the Anticipated Delay in Filing of Annual Financial Results for the Year Ended March 31, 2021

TORONTO, ON / ACCESSWIRE /July 20, 2021 /Aquarius Surgical Technologies Inc. (CSE:ASTI)(the "Company") announces an update to the Press Release issued on July 19, 2021, when it announced that there is an anticipated delay in filing Annual Financial Results for the year ended March 31, 2021, and that an Application was being made to the Ontario Securities Commission for a Management Cease Trade Order pursuant to National Policy 12-203.

The Company has been notified by the Ontario Securities Commission that a Management Cease Trade Order will not be issued, and that unless the Audited Annual Financial Statements, the Management's Discussion & Analysis and related CEO and CFO Certificates for the year ended March 31, 2021 (the "Annual Filings") are not filed by July 29, 2021 (the "Regulatory Filing Deadline"), then a Cease Trade Order will be issued.

While the Company anticipates that it will not be able to complete the filing of Annual Filings by the Regulatory Filing Deadline, it is continuing to work closely with its Auditors to complete the necessary review and assessments, with a view to filing the Annual Filings at the earliest opportunity.

If the Annual Filings cannot be completed before the Regulatory Filing Deadline, the Company will not be able to file of the Interim Unaudited Financial Statements, MD&A and the related CEO and CFO Certificates for the First Quarter, ended June 30, 2021 (the "Interim Filings"), which are due to be filed by August 30, 2021; the filing of the Interim Filings will thus be delayed until after the Annual Filings have been completed.

About Aquarius Surgical Technologies Inc.

Aquarius Surgical Technologies is an exclusive provider of innovative, minimally invasive medical laser systems and consumables for multiple medical disciplines, principally in the field of urology. Solutions also include clinical education, service, support and maintenance. ASTI is focused on increasing the availability of services for patients, enhancing the quality of patient care, improving operationally efficiencies and reducing total operational costs.

For more information, please contact:

Lorne MacFarlane, CFO lornemac@eastlink.ca

Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.

SOURCE: Aquarius Surgical Technologies Inc.