# EDGAR Filing Document

**Accession Number:** 0001840563
**File Stem:** 0001213900-25-069744
**Filing Date:** 2025-7
**Character Count:** 35532
**Document Hash:** aa17d0e4404dffeb1729c106d9211d54
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001213900-25-069744.hdr.sgml**: 20250731

**ACCESSION NUMBER**: 0001213900-25-069744

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 16

**CONFORMED PERIOD OF REPORT**: 20250725

**ITEM INFORMATION**: Entry into a Material Definitive Agreement

**ITEM INFORMATION**: Regulation FD Disclosure

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20250731

**DATE AS OF CHANGE**: 20250731

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** PMGC Holdings Inc.
- **CENTRAL INDEX KEY:** 0001840563
- **STANDARD INDUSTRIAL CLASSIFICATION:** PHARMACEUTICAL PREPARATIONS [2834]
- **ORGANIZATION NAME:** 03 Life Sciences
- **EIN:** 851399981
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-41875
- **FILM NUMBER:** 251170158

**BUSINESS ADDRESS:**
- **STREET 1:** 120 NEWPORT CENTER DRIVE
- **STREET 2:** STE 250
- **CITY:** NEWPORT BEACH
- **STATE:** CA
- **ZIP:** 92660
- **BUSINESS PHONE:** 888-445-4886

**MAIL ADDRESS:**
- **STREET 1:** 120 NEWPORT CENTER DRIVE
- **STREET 2:** STE 250
- **CITY:** NEWPORT BEACH
- **STATE:** CA
- **ZIP:** 92660

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Elevai Labs Inc.
- **DATE OF NAME CHANGE:** 20211207

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Reactive Medical Labs Inc.
- **DATE OF NAME CHANGE:** 20210114

?xml version='1.0' encoding='ASCII'?

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**WASHINGTON, D.C. 20549**

**FORM 8-K**

**CURRENT REPORT**

**PURSUANT TO SECTION 13 OR 15(d) OF**

**THE SECURITIES EXCHANGE ACT OF 1934**

**Date of Report (Date of earliest event reported): July 25, 2025**

---

| |
|:---|
| **PMGC Holdings Inc.** |
| (Exact name of registrant as specified in its charter) |

---

---

| | | |
|:---|:---|:---|
| **Nevada** | **001-41875** | **33-2382547** |
| (State or other jurisdiction<br> of incorporation) | (Commission File Number) | (I.R.S. Employer<br> Identification No.) |

---

---

| | |
|:---|:---|
| **c/o 120 Newport Center Drive, Ste. 249<br> Newport Beach, CA** | **92660** |
| (Address of principal executive offices) | (Zip Code) |

---

Registrant's telephone number, including area code: **(888) 794-4940**

**<u>N/A</u>**

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

---

| | |
|:---|:---|
| **Title of each class** | **Name of each exchange on which registered** |
| Common Stock, $0.0001 par value ELAB | The Nasdaq Stock Market LLC |

---

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☒

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

**Item 1.01 Entry into a Material Definitive Agreement.**

On July 25, 2025, PMGC Holdings Inc. (the "Company") entered into a Secondment Agreement (the "Agreement") with GB Capital Ltd, a British Columbia, Canada corporation ("GB Capital") wholly owned by the Company's Chief Executive Officer, Chief Financial Officer, and director, Graydon Bensler, pursuant to which GB Capital agreed to second certain of its employees (each, an "Employee" and, collectively, the "Employees"), on an exclusive basis, to the Company from time to time to provide certain services in accordance with the terms of the Agreement. The Employees will remain employees of GB Capital during their respective periods of secondment (each, a "Secondment Period") and will not be employees of the Company.

Under the Agreement, GB Capital shall pay each Employee's salary, incentives, health and retirement benefits, and other applicable compensation or benefits Employee is entitled to as an employee of GB Capital. As consideration for GB Capital making Employees available to provide services during the Secondment Period, the Company shall reimburse GB Capital on a monthly basis based on (i) an agreed hourly rate set forth in Exhibit A of the Agreement, multiplied by (ii) actual hours worked by the Employee. Except as otherwise set forth in the Agreement, each party to the Agreement shall bear its own costs and expenses in connection with the Agreement. However, if any extraordinary costs or expenses not contemplated by the Agreement arise in connection with the Agreement, including travel and expenses, the Company will reimburse GB Capital for such costs and expenses, provided that (i) the Company provided its written consent prior to GB Capital's incurrence of such costs and expenses, and (ii) such costs and expenses are documented to the reasonable satisfaction of the Company.

Pursuant to the terms of the Agreement, each Employee will provide services to the Company as agreed between the parties up to the number of hours per week specified in Exhibit A. Further, each Employee shall provide services at the Company's principal place of business or such other place as the parties may agree. The Company has full and exclusive responsibility for each Employee's actions performed in service to the Company during the Secondment Period.

The Company may terminate the services provided by any Employee at any time by providing at least fifteen (15) days' prior written notice of termination to GB Capital, provided that the Company may terminate any Employee's secondment at any time, without advance notice, in the event of the Employee's misconduct, violation of the Company's policies, or any conduct that the Company reasonably determines may be detrimental to the business or reputation of the Company. Upon the termination of any Employee's employment with GB Capital, any Employee's services to the Company will also terminate, and if such employment with GB Capital is terminated, GB Capital shall provide notice of the same to the Company no later than the close of business on the same day such termination becomes effective. GB Capital may terminate the Agreement by providing at least 90 days' written notice of termination to the Company. The Company may terminate the Agreement by providing at least 30 days' written notice of termination to GB Capital. The Agreement may be terminated by either party upon 10 days' written notice if the other party breaches or is in default of any provision of the Agreement and does not cure such breach or default within such 10 day period, with such notice to be made and delivered to the addresses as provided by the applicable party.

The Agreement contains customary provisions relating to confidentiality, indemnification, and limitations on liability.

The foregoing description of the Agreement does not purport to be complete and is qualified in its entirety by reference to the full text of the Agreement, a copy of which is filed with this Current Report on Form 8-K ("Form 8-K") as Exhibit 10.1 and is incorporated herein by reference.

**Item 7.01. Regulation FD Disclosure.**

On July 30, 2025, the Company issued a press release, a copy of which is furnished as Exhibit 99.1 to this Form 8-K.

The information furnished pursuant to this Item 7.01, including Exhibit 99.1, shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise subject to the liabilities of that section, and shall not be deemed to be incorporated by reference into any filing of the Company under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such filing.

**Item 9.01. Financial Statements and Exhibits.**

(d) Exhibits.

---

| | |
|:---|:---|
| **Exhibit No.** | **Description** |
| 10.1 | [Secondment Agreement between the Company and GB Capital Ltd dated July 25, 2025.](ea025104201ex10-1_pmgc.htm) |
| 99.1 | [Press Release dated July 30, 2025.](ea025104201ex99-1_pmgc.htm) |
| 104 | Cover Page Interactive Data File (formatted in Inline XBRL). |

---

**SIGNATURES**

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Date: July 31, 2025

---

| | |
|:---|:---|
| PMGC Holdings, Inc. | PMGC Holdings, Inc. |
| By: | /s/ Graydon Bensler |
| Name: | Graydon Bensler |
| Title: | Chief Executive Officer |

---

## Exhibit 10.1

**Exhibit 10.1**

---

| | |
|:---|:---|
| ![](ex10-1_001.jpg) | ![](ex10-1_002.jpg) |

---

**SECONDMENT AGREEMENT**

THIS SECONDMENT AGREEMENT (this "<u>Agreement</u>") is entered into and made effective as of July 25, 2025 (the "<u>Effective Date</u>"), by and between PMGC HOLDINGS INC., a Nevada corporation ("<u>PMGC</u>"), and GB CAPITAL LTD., a British Columbia, Canada corporation ("<u>Employer</u>"). Employer and PMGC are sometimes referred to herein collectively as the "<u>Parties</u>" and each as a "<u>Party</u>."

**RECITALS**

WHEREAS, Employer wishes to second certain of its employees to PMGC from time to time pursuant to the terms and conditions of this Agreement;

WHEREAS, the persons listed from time to time on <u>Exhibit A</u> attached hereto (each, an "<u>Employee</u>" and, collectively, the "<u>Employees</u>") are currently employed by Employer;

WHEREAS, PMGC requires the services of the individuals with the skills, knowledge, and experience of each Employee;

WHEREAS, Employer has agreed to second each Employee to PMGC for a period of time, as described in <u>Exhibit A</u> (each period of time, a "<u>Secondment Period</u>"); and

WHEREAS, the Parties desire to enter into this Agreement to set forth the terms and conditions under which one or more Employees will provide services to PMGC during their respective Secondment Period, **s**ubject to the oversight, supervision, and sole discretion of PMGC or its affiliates.

NOW, THEREFORE, in consideration of the foregoing and the mutual agreements contained herein, and for other good and valuable consideration, the value, receipt and sufficiency of which are hereby acknowledged, each of the Parties agree as follows:

**AGREEMENT**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. <u>Secondment</u>. Employer shall second certain of its Employees to PMGC on an exclusive basis for the applicable Secondment Period to provide the services as specified on <u>Exhibit A</u> attached hereto in accordance with the terms of this Agreement. PMGC shall have the sole discretion to modify the scope of services or terminate any Employee's secondment in whole or in part.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. <u>Employees' Continued Employment with Employer</u>. At all times during the Secondment Period, Employee shall continue to be solely an employee of Employer and shall not at any time become an employee of PMGC. Each Employee is subject to the personnel policies and other terms and conditions of employment administered by Employer with respect to its employees generally. Employee shall not be entitled to receive any compensation, benefits, perquisites, or privileges from PMGC, and nothing in this Agreement shall be construed to create or imply any employment relationship between Employee and PMGC. PMGC shall not be deemed to have assumed or incurred any obligations as an employer of Employee, whether express, implied, statutory, or otherwise, including any obligation relating to compensation, benefits, tax withholding, termination, or any other employer-related matter.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. <u>Employee's Services and Supervision</u>. Employee shall provide services to PMGC as agreed upon by the Parties for up to the number of hours per week as specified on <u>Exhibit A</u>. Employee shall provide services at PMGC's principal place of business or such other place as the Parties may agree. PMGC shall accept full and exclusive responsibility for each Employee's actions performed in service to PMGC during the Secondment Period. Employer shall obtain the prior written consent of PMGC prior to Employer authorizing any time off, holidays, or leave for any Employee during the Secondment Period.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4. <u>Payment of Salary and Other Benefits</u>. During the Secondment Period, Employer shall continue to pay Employee's salary, incentives, health and retirement benefits, and any other compensation or benefits to which Employee is entitled to as an employee of Employer. Employer shall pay all necessary employment taxes as required by law regarding Employee, report Employee's income to the appropriate tax authorities, and withhold all taxes from such income, as required by law.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5. <u>Reimbursement of Employee Costs</u>. In consideration for Employer making the Employees available to provide services during the Secondment Period, PMGC shall, on a monthly basis, pay to Employer an amount equal to the reimbursement rate per hour multiplied by the number of hours as specified on <u>Exhibit A</u>. Except as otherwise expressly provided herein, each Party shall bear its own costs and expenses in connection with this Agreement. Notwithstanding anything to the contrary of this Agreement, PMGC shall reimburse Employer for any extraordinary costs or expenses not contemplated by this Agreement, including reasonable travel expenses, *provided* that: (i) PMGC provided its prior written consent prior to Employer incurring the costs and expenses; and (ii) the costs and expenses are documented to the reasonable satisfaction of PMGC.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6. <u>Confidentiality</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) For purposes of this Agreement, "<u>Confidential Information</u>" means any information of a Party that is provided to or obtained by Employee, the other Party, or any of its agents or representatives, in the performance of this Agreement including, without limitation, methods of operation, customers, customer lists, products, prices, fees, costs, technology, inventions, trade secrets, know-how, software, marketing methods, plans, personnel, suppliers, competitors, markets, or other specialized information or proprietary matters.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) During the term of this Agreement and for a period of five (5) years thereafter (and, with respect to Confidential Information that constitutes trade secrets, for so long as such Confidential Information is protected as a trade secret under applicable law), the Parties shall and shall each cause its representatives and employees, including Employee, to keep confidential and refrain from using or disclosing (other than as required to perform the services) all of the Confidential Information provided by or otherwise obtained in connection with this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7. <u>Termination of Secondment</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) PMGC may terminate the services provided to it by any Employee at any time by providing at least fifteen (15) days' prior written notice of termination to Employer; *provided*, *however*, PMGC may terminate any Employee's secondment at any time, without advance notice, in the event of misconduct, violation of PMGC's policies, or any conduct that PMGC reasonably determines may be detrimental to the business or reputation of PMGC.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Any Employee's services to PMGC shall automatically terminate upon the termination of Employee's employment with Employer for any reason. If such employment with Employer is terminated, Employer shall provide written notice to PMGC of the termination promptly and, in any event, no later than the close of business on the same day the termination becomes effective.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Employer may terminate this Agreement at any time by providing at least ninety (90) days' prior written notice to PMGC, and PMGC may terminate this Agreement at any time by providing at least thirty (30) days' prior written notice to Employer.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) This Agreement may be terminated by either Party upon ten (10) days' written notice if the other Party breaches or is in default of any provision of this Agreement and does not cure such breach or default within such ten (10) day period, with such notice to be made and delivered to the addresses as provided by the applicable Parties.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) Upon the termination of this Agreement, all Employees shall cease performing services to PMGC. Further, upon the termination of any Secondment Period, the applicable Employee will be required to cease performing services for PMGC and such Employees will cease to be seconded employees. Upon termination of this Agreement, the rights and obligation of the Parties will immediately cease and terminate, and no Party will have any further obligation to the other Party with respect to this Agreement, except for the rights and obligations pursuant to <u>Sections 6</u> and <u>7</u>, which will survive such termination or expiration in accordance with their terms. For purposes of clarification, the obligation of PMGC to pay Employer as set forth in this Agreement for any services performed prior to the effective date of termination shall survive.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8. <u>Indemnification</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) PMGC shall indemnify and hold Employer, its affiliates, and each of its officers, directors, agents, and representatives (the "<u>Employer Indemnified Parties</u>") harmless from and against any loss, damage, claim, liability, cost, or expense of any kind (including, without limitation, reasonable attorneys' fees and costs) that in any way relate to or result from Employee's services provided to PMGC, including the termination of Employee's services to PMGC. Notwithstanding the foregoing, nothing in this <u>Section 8(a)</u> shall require PMGC to indemnify the Employer Indemnified Parties against the Employer Indemnified Parties' gross negligence, intentional or willful misconduct, or fraud.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Employer shall indemnify and hold PMGC, its affiliates, and each of its officers, directors, agents, and representatives (the "<u>PMGC Indemnified Parties</u>") harmless from and against any loss, damage, claim, liability, cost, or expense of any kind (including, without limitation, reasonable attorneys' fees and costs) that in any way relate to or result from any employment related claims brought by or on behalf of any Employee or Employer's breach of this Agreement. Notwithstanding the foregoing, nothing in this <u>Section 8(b)</u> shall require Employer to indemnify the PMGC Indemnified Parties against the PMGC Indemnified Parties' gross negligence, intentional or willful misconduct, or fraud.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9. <u>Governing Law; Jurisdiction; Waiver of Jury Trial</u>. This Agreement shall be governed by, and construed in accordance with, the laws of the State of Nevada applicable to contracts executed in and to be performed in that State. All actions or proceedings arising out of or relating to this Agreement shall be heard and determined exclusively by state or federal court located in Orange County, California. Consistent with the preceding sentence, the Parties hereby (a) submit to the exclusive jurisdiction of such courts for the purpose of any action arising out of or relating to this Agreement brought by either Party, and (b) irrevocably waive, and agree not to assert by way of motion, defense, or otherwise, in any such action, any claim that it is not subject personally to the jurisdiction of the above-named courts, that its property is exempt or immune from attachment or execution, that the action is brought in an inconvenient forum, that the venue of the action is improper, or that this Agreement or the transactions contemplated by this Agreement may not be enforced in or by any of the above-named courts. Process in any such suit, action, or proceeding may be served on either Party anywhere in the world, whether within or without the jurisdiction of any such court. EACH PARTY FURTHER WAIVES ANY RIGHT TO A JURY TRIAL IN CONNECTION WITH ANY ACTION OR PROCEEDING ARISING OUT OF OR RELATING TO THIS AGREEMENT.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10. <u>Limitation of Liability</u>. SUBJECT TO <u>SECTION 8</u> BUT NOTWITHSTANDING ANY OTHER PROVISION OF THIS AGREEMENT TO THE CONTRARY, IN NO EVENT SHALL EITHER PARTY OR ANY OF ITS AFFILIATES HAVE ANY LIABILITY IN RESPECT OF (A) A CLAIM ARISING OUT OF ANY SPECIAL, INCIDENTAL, CONSEQUENTIAL, EXEMPLARY, OR PUNITIVE DAMAGES, ANY INDIRECT DAMAGES (INCLUDING BUSINESS INTERRUPTION, LOSS OF FUTURE REVENUE, INCOME OR PROFITS, LOSS OF BUSINESS REPUTATION OR OPPORTUNITY OR LOSS OF CUSTOMERS, GOODWILL, USE, OR INCOME), REGARDLESS OF WHETHER SUCH DAMAGES ARE BASED IN CONTRACT, BREACH OF WARRANTY, TORT, NEGLIGENCE, OR ANY OTHER THEORY, AND REGARDLESS OF WHETHER THE OTHER PARTIES OR ANY OF THEIR RESPECTIVE AFFILIATES HAVE BEEN ADVISED OF, KNEW OF, OR SHOULD HAVE KNOWN OF, ANTICIPATED, OR FORESEEN THE POSSIBILITY OF SUCH DAMAGES OR (B) CLAIMS IN THE AGGREGATE IN EXCESS OF TWENTY THOUSAND DOLLARS ($20,000).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11. <u>Assignment; No Third Party Beneficiaries</u>. Neither this Agreement nor any of the rights, interests, or obligations hereunder shall be transferred, assigned, or delegated by either Party, in whole or in part, without the prior written consent of the other Party, and any attempt to make any such transfer, assignment, or delegation without such consent shall be null and void; *provided* that PMGC may assign or transfer this Agreement, without the consent of Employer, to any affiliate or in connection with any merger, consolidation, reorganization, sale of all or substantially all of its assets, or other corporate transaction. Subject to the foregoing, this Agreement shall be binding upon and inure to the benefit of the Parties (and their respective successors and permitted assigns) and shall not be for the benefit of any other third party.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12. <u>Entire Agreement; Amendments</u>. This Agreement constitutes the entire agreement of the Parties with respect to the specific subject matter of this Agreement, and supersedes all prior agreements and understandings, both written and oral, between the Parties with respect to the specific subject matter hereof. This Agreement may not be amended except by a written instrument duly executed by both Parties; *provided*, *however*, that the Parties may agree to amend <u>Exhibit A</u> from time to time by delivering the revision by email which is acknowledged by the other Party. Upon such acknowledgement, such revised <u>Exhibit A</u> shall be deemed to have replaced the then-current version.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13. <u>Notices</u>. Any notices required or permitted hereunder shall be in writing and shall be deemed effectively given: (i) upon personal delivery to the Party's physical address to be notified, (ii) when sent by confirmed electronic mail if sent during normal business hours of the recipient, if not, then on the next business day, (iii) three (3) business days after having been sent by registered or certified mail, return receipt requested, postage prepaid, or (iv) one (1) business day after deposit with a nationally recognized overnight courier, specifying next day delivery, with written verification of receipt, or when sent by email transmission, to the addresses or e-mails as provided by the other Parties or to such other persons as may be designated in writing in accordance with this <u>Section 14</u> by the Party to receive such notice.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14. <u>Severability; Waiver</u>. If any term or other provision of this Agreement is determined by a court of competent jurisdiction to be invalid, illegal, or incapable of being enforced, all other terms and provisions of this Agreement shall nevertheless remain in full force and effect, and such term shall be amended so that it is valid, legal, and enforceable to the maximum extent permitted by applicable law. No failure or delay by either Party in exercising any right, power, or privilege under this Agreement shall operate as a waiver thereof, nor shall any single or partial exercise of any such right, power, or privilege preclude any other or further exercise thereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15. <u>Status of Employees.</u> Each Employee shall at all times remain an employee of Employer, and nothing in this Agreement shall be construed to create any employment, agency, or other relationship between any Employee and PMGC. The services provided by any Employee under this Agreement shall be rendered solely in the Employee's capacity as an employee of Employer, pursuant to the secondment arrangement set forth in this Agreement. Employer shall ensure that all Employees performing services pursuant to this Agreement are made aware of, and comply with, all applicable obligations pursuant to this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16. <u>Further Assurances</u>. The Parties agree to execute such additional instruments, agreements, and documents, and to take such other actions, as may be necessary to effect the purposes of this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17. <u>Counterparts</u>. This Agreement may be executed in multiple counterparts, all of which shall be deemed to be one and the same instrument. Delivery and execution of an executed counterpart of a signature page to this Agreement by facsimile, .pdf file, or other means of electronic execution or transmission shall be effective as delivery of a manually executed counterpart to this Agreement.

 

*[Signature page follows]*

 

 

IN WITNESS WHEREOF, this Agreement has been duly executed on behalf of each of the Parties as of the Effective Date.

---

| | |
|:---|:---|
| **PMGC** | **PMGC** |
| PMGC HOLDINGS INC., | PMGC HOLDINGS INC., |
| a Nevada corporation | a Nevada corporation |
| By: | /s/ Braeden Lichti |
| Name: | Braeden Lichti |
| Title: | Chairman |
| **EMPLOYER** | **EMPLOYER** |
| GB CAPITAL LTD | GB CAPITAL LTD |
| a British Columbia, Canada corporation | a British Columbia, Canada corporation |
| By: | /s/ Graydon Bensler |
| Name: | Graydon Bensler |
| Title: | Chief Executive Officer |

---

*Signature Page to Secondment Agreement*

**EXHIBIT A**

<u>**LIST OF EMPLOYEES, TERM OF SECONDMENT, HOURS, REIMBURSEMENT, AND SUMMARY OF SERVICES**</u>

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| Name of<br> Employee | Commencement <br> of Secondment | Termination of<br> Secondment | Hours<br> PER<br> Week | Reimbursement<br> Rate | Summary of<br> Services to <br> be Provided |

---

For the purpose of clarification, all reimbursement rates are inclusive of all incurred taxes, operation expenses, and employee benefits of GB Capital Ltd., unless otherwise expressly stated in the Secondment Agreement of which this Exhibit A is attached. Any changes to assigned hours, scope of services, or any other secondment terms must be pre-approved in writing by PMGC Holdings Inc.

## Exhibit 99.1

**Exhibit 99.1**

**PMGC Holdings Inc. Terminates LOI to Focus on Acquiring High-Growth CNC Acquisitions in Aerospace, Defense, and Industrial Markets**

Newport Beach, CA – July 30, 2025 – PMGC Holdings Inc. (Nasdaq: ELAB) ("PMGC" or the "Company"), a diversified public holding company, today announced that it has terminated the previously announced non-binding letter of intent, dated June 9, 2025, to acquire a profitable U.S.-based electronics manufacturing company.

Following a strategic review and direction from its Board of Directors, PMGC has elected to narrow its merger and acquisition (M&A) focus toward CNC machine shops servicing the aerospace, defense, and industrial sectors. The Company believes this decision better aligns with its long-term growth strategy and capital allocation objectives, allowing it to build a highly specialized portfolio that benefits from sector-specific demand, scale efficiencies, and margin expansion.

**Industry Outlook**

The U.S. machine shop services market was estimated at approximately USD 44.7 billion in 2024, generated by around 17,100 companies employing over 259,000 people. Nearly one-third of this industry is concentrated in California, Texas, Ohio, and Michigan<sup>1</sup>. Over the next decade, the global machining market is projected to expand from USD 402.6 billion in 2024 to USD 755.7 billion by 2034, at a compound annual growth rate (CAGR) of 6.5%<sup>2</sup>. Within the U.S., the machine tools segment—largely encompassing CNC metal-cutting—was valued at about USD 12.7 billion in 2025 and is expected to grow at a 3.4% CAGR from 2025 through 2030<sup>3</sup>.

Demand from aerospace, defense, and industrial sectors is particularly strong—new U.S. metalworking machinery orders surged 32.6% from February to March 2025, reaching USD 515.8 million, marking the highest monthly value since early 2023. Aerospace machine shops posted record-setting order volumes and capital investments amid reshoring momentum and robust defense procurement trends<sup>4</sup>.

This structural growth reflects broader industrial tailwinds—including regulations and incentives such as the Creating Helpful Incentives to Produce Semiconductors and Science Act of 2022 (CHIPS Act) and Inflation Reduction Acts—positioning precision CNC machine shops as a high-growth, resilient segment critical to reshoring, national security, and global supply chain modernization.

<u>Pending CNC Manufacturing Acquisition:</u>

On June 24<sup>th</sup>, 2025 PMGC announced a non-binding Letter of Intent to acquire a profitable, AS9100 and ISO 9001-certified CNC precision machining company based in the United States. The target specializes in high-complexity aerospace and defense components, with a long-standing track record serving Tier-1 commercial and government clients.

The target generated approximately $4.5 million in revenue and $500,000 in adjusted EBITDA in 2024. The transaction is currently pending and subject to due diligence and customary closing conditions.

**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. 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's 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.

IR Contact:

IR@pmgcholdings.com

<sup>1</sup> Vertical IQ

<sup>2</sup> precedenceresearch.com

<sup>3</sup> mordorintelligence.com

<sup>4</sup> amtonline.org