SciSparc Ltd. (Nasdaq: SPRC) (the "Company" or "SciSparc"), a specialty clinical-stage pharmaceutical company focusing on the development of therapies to treat disorders of the central nervous system, announced today that AutoMax Motors Ltd. ("AutoMax"), a leading parallel vehicle importer in Israel, convened today its special general meetings, at which, among others, AutoMax’s shareholders voted on and approved the proposed merger with SciSparc. In addition, on August 26, 2025, SciSparc’s shareholders voted on and approved at an adjourned special general meeting, among others, the proposed merger.

As previously disclosed, this strategic merger, pursuant to a definitive agreement entered into on April 11, 2024, as amended, will result in SciSparc acquiring 100% of AutoMax’s share capital by way of a reverse merger between SciSparc Merger Sub Ltd., a wholly-owned subsidiary of the Company and AutoMax, with AutoMax continuing as a wholly-owned subsidiary of the Company (the “Merger”). Following the closing of the Merger, SciSparc shareholders are expected to hold approximately 50.01% of the combined company’s share capital. The approval by AutoMax’s shareholders marks a significant step toward enhancing SciSparc’s shareholder value by expanding SciSparc’s operations into the automotive sector, through the operations of AutoMax, which include the import and distribution of Anhui Jianghuai Automobile Group Corp. Ltd. electric vehicles and other vehicle categories.

SciSparc has supported AutoMax’s growth with financial assistance, including by providing a $4.25 million bridge loan in 2024 and extending an additional $2 million loan in February 2025, facilitating AutoMax’s parallel import operations. This Merger aligns with SciSparc’s long-term strategy to diversify its portfolio and capitalize on the expanding electric vehicle market in Israel.

The closing of the Merger is subject to customary closing conditions, including the Israeli court approval.