Goldenwell Biotech replaces auditor Gillespie & Associates with Privatco CPA; prior reports flagged going concern

GOLDENWELL BIOTECH, INC.

Board approved dismissal of Michael Gillespie & Associates, PLLC on September 27, 2026; engaged Privatco CPA Limited on September 22, 2026, which accepted the appointment.
Gillespie's reports on FY2025 and FY2024 contained no adverse opinion or disclaimer, but stated substantial doubt about the Company's ability to continue as a going concern.
No disagreements with Gillespie on accounting principles, financial statement disclosure, or audit scope for FY2025, FY2024, or the interim period; no Item 304(a)(1)(v) reportable events.
Company had not consulted Privatco on accounting principles, type of audit opinion, or any prior disagreement matter before the engagement.
Gillespie letter agreeing with the disclosures, dated September 29, 2026, is attached as Exhibit 16.1.

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