Full Press Release Details
PMGC Holdings Inc. Signs Non-Binding LOI to Acquire CNC Aerospace
Manufacturer Generating $4.5 Million in Annual Revenue
Newport Beach, CA - June 24, 2025 - PMGC Holdings Inc.
(Nasdaq: ELAB) ("PMGC" or the "Company"), a diversified public holding company, today announced that it has entered
into a non-binding Letter of Intent ("LOI") to acquire a U.S.-based, vertically integrated CNC machining company specializing
in manufacturing high-complexity components for the aerospace and defense sectors.
About the Target Company
The target company, founded in 1948 is AS9100- and ISO 9001-certified
CNC machining firm specializing in precision aerospace components. With over 75 years of experience, the company operates a modern facility
equipped with 5-axis CNC machines, advanced CAD/CAM and ERP systems, and offers a full range of secondary services including grinding,
EDM, and honing. It serves commercial and defense aerospace customers with ultra-tight tolerances and cleanroom-capable production, delivering
high-quality parts backed by strong customer service and long-standing client relationships.With a 2024 revenue base of approximately
$4.5 million and $500,000 in adjusted EBITDA, the business combines consistent profitability with a reputation for quality and reliability.
Target's growth has been entirely organic-built on decades of customer referrals, repeat business, and trusted vendor relationships.
This marks PMGC's latest step in its strategy
to acquire specialized U.S. manufacturers operating in sectors where quality, certification, and technical expertise create long-term
value. The aerospace sector, in particular, is experiencing renewed demand for certified domestic suppliers as federal incentives and
geopolitical realignment continue to push toward onshoring and supply chain resiliency.
"This company exemplifies the kind of certified,
mission-critical supplier we aim to partner with," said Graydon Bensler, Chief Executive Officer of PMGC. "Its deep integration
into high-trust aerospace supply chains, paired with consistent earnings and a strong operational foundation, make it a natural fit for
The closing of this anticipated acquisition is
subject to customary conditions, including completion of due diligence, certain corporate approvals, and execution and delivery of definitive
documentation. We cannot assure that closing of the acquisition will occur.
About PMGC Holdings Inc.
PMGC Holdings Inc. is a diversified holding company
that manages and grows its portfolio through strategic acquisitions, investments, and development across various industries. Currently,
our portfolio consists of three wholly owned subsidiaries: Northstrive Biosciences Inc., PMGC Research Inc., and PMGC Capital LLC. We
are committed to exploring opportunities in multiple sectors to maximize growth and value. For more information, please visit https://www.pmgcholdings.com.
Forward-Looking Statements
Statements contained in this press release regarding
matters that are not historical facts are "forward-looking statements" within the meaning of the Private Securities Litigation
Reform Act of 1995, as amended. Words such as "believes," "expects," "plans," "potential,"
"would" and "future" or similar expressions such as "look forward" are intended to identify forward-looking
statements. Forward-looking statements are made as of the date of this press release and are neither historical facts nor assurances of
future performance. Instead, they are based only on our current beliefs, expectations and assumptions regarding the future of our business,
future plans and strategies, projections, anticipated events and trends, the economy, activities of regulators and future regulations
and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks
and changes in circumstances that are difficult to predict and many of which are outside of our control. Although the Company believes
that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn
out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results. Therefore,
you should not rely on any of these forward-looking statements. These and other risks are described more fully in PMGC Holdings'
filings with the United States Securities and Exchange Commission ("SEC"), including the "Risk Factors" section
of the Company's Annual Report on Form 10-K for the year ended December 31, 2024, filed with the SEC on March 28, 2025, and its
other documents subsequently filed with or furnished to the SEC. Investors and security holders are urged to read these documents free
of charge on the SEC's web site at www.sec.gov. All forward-looking statements contained in this press release speak only as of
the date on which they were made. Except to the extent required by law, the Company undertakes no obligation to update such statements
to reflect events that occur or circumstances that exist after the date on which they were made.