Toronto, Ontario–(Newsfile Corp. – October 28, 2024) – Medicus Pharma Ltd. TSXV: MDCX FSE: N46 (the “Company”) today announced that it has completed a consolidation of its common shares on a 2-to-1 basis (the “Consolidation”).

The Company has completed the Consolidation in connection with its proposed U.S. initial public offering and application to list on a U.S. national securities exchange. For further details, please refer to the Company’s news release dated May 29, 2024.

The Company expects its common shares to begin trading on the TSX Venture Exchange on a consolidated basis later today, October 28, 2024, under its existing name and ticker symbol. The CUSIP and ISIN for the consolidated common shares are 58471K202 and CA58471K2020, respectively.

The Consolidation was approved by the Company’s shareholders on June 25, 2024 and by the Company’s board of directors on October 15, 2024.

The Company previously had 21,693,560 common shares outstanding, and the Consolidation has reduced the number of outstanding common shares to approximately 10,846,780.

A letter of transmittal with respect to the Consolidation will be mailed to registered shareholders of the Company. All registered shareholders with physical certificates will be required to send their certificates representing pre-Consolidation common shares along with a completed letter of transmittal to the Company’s transfer agent, Odyssey Trust Company (“Odyssey”), in accordance with the instructions provided in the letter of transmittal. Additional copies of the letter of transmittal can be obtained through Odyssey. All shareholders who submit a duly completed letter of transmittal along with their pre-Consolidation share certificate(s) to Odyssey will receive a post-Consolidation share certificate. Shareholders who hold their common shares through a broker or other intermediary and do not have common shares registered in their name will not need to complete a letter of transmittal.

About Medicus Pharma Ltd:

Medicus Pharma Ltd. TSXV: MDCX is a biotech/life sciences company focused on accelerating the clinical development programs of novel and disruptive therapeutics assets.

SkinJect Inc. a wholly owned subsidiary of Medicus Pharma Ltd, is a development stage, life sciences company focused on commercializing novel, non-invasive treatment for basal cell skin cancer using patented dissolvable microneedle patch to deliver chemotherapeutic agent to eradicate tumors cells.

Cautionary Notice on Forward-Looking Statements

Certain information in this news release constitutes “forward-looking information” under applicable securities laws. “Forward-looking information” is defined as disclosure regarding possible events, conditions or financial performance that is based on assumptions about future economic conditions and courses of action and includes, without limitation, statements regarding the completion of the Consolidation, the terms and timing thereof, the trading of the common shares on the TSX Venture Exchange, and the Company’s proposed U.S. initial public offering and application to list on a U.S. national securities exchange.

These statements involve known and unknown risks, uncertainties and other factors, which may cause actual results, performance or achievements to differ materially from those expressed or implied by such statements, including those risk factors described in the Company’s public filings on SEDAR+, which may impact, among other things, the trading price and liquidity of the Company’s common shares. In particular, the proposed U.S. initial public offering and national securities exchange listing remain subject to regulatory and exchange approvals, market conditions and other factors. There is no assurance as to the terms or timing thereof. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement and reflect our expectations as of the date hereof, and thus are subject to change thereafter. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

Readers are cautioned that the foregoing list is not exhaustive and readers are encouraged to review the Company’s annual information form dated July 19, 2024 and other continuous disclosure filings accessible on the Company’s SEDAR+ at www.sedarplus.ca. Readers are further cautioned not to place undue reliance on forward-looking statements as there can be no assurance that the plans, intentions or expectations upon which they are placed will occur. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated.

This press release does not constitute an offer to sell or the solicitation of an offer to buy any securities. Any offers, solicitations of offers to buy, or any sales of securities will be made in accordance with the registration requirements of the U.S. Securities Act of 1933, as amended.

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

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