Medexus Pharmaceuticals Announces C$10 Million Bought-Deal Public Offering of Units

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TORONTO and CHICAGO, Sept. 05, 2023 (GLOBE NEWSWIRE) — Medexus Prescription drugs Inc. (“Medexus” or the “Firm“) (TSX: MDP) (OTCQX: MEDXF), is happy to announce that it has entered into an settlement with Analysis Capital Company, as sole bookrunner and sole underwriter (the “Underwriter”), pursuant to which the Underwriter has agreed to buy, on a bought-deal foundation, 3,389,900 items of the Firm (the “Models”) at a worth of C$2.95 per Unit for gross proceeds to the Firm of C$10,000,205 (the “Providing”).

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Every Unit will consist of 1 frequent share of the Firm (a “Frequent Share”) and one-half of 1 Frequent Share buy warrant (every entire warrant, a “Warrant”). Every Warrant will entitle the holder thereof to buy one Frequent Share at an train worth of C$3.65 at any time as much as 30 months following the Closing Date (as outlined under).

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The web proceeds of the Providing shall be used for working capital and common company functions.

The Firm has granted the Underwriter an choice (the “Over-Allotment Choice”), exercisable partially or in entire on the Underwriter’s discretion, at any time till thirty (30) days following the Closing Date, to buy as much as the variety of further Models, and/or the elements thereof, equal to fifteen% of the mixture variety of Models offered within the Providing to cowl over-allotments, if any, and for market stabilization functions.

The Providing shall be accomplished: (i) by the use of a brief kind prospectus to be filed in all provinces of Canada aside from Quebec pursuant to Nationwide Instrument 44-101 – Brief Type Prospectus Distributions; and (ii) on a personal placement foundation in america pursuant to exemptions from the registration necessities of america Securities Act of 1933, as amended (the “U.S. Securities Act”), and relevant U.S. state securities legal guidelines.

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The closing of the Providing is anticipated to happen on or about September 21, 2023 (the “Closing Date”), or such later or earlier date because the Underwriter and the Firm could agree upon, and is topic to sure circumstances together with, however not restricted to, the Firm receiving all vital regulatory approvals, together with the approval of the Toronto Inventory Change, and the securities regulatory authorities, and the satisfaction of different customary closing circumstances.

The securities referred to on this press launch haven’t been, nor will they be, registered underneath the U.S. Securities Act or any U.S. state securities legal guidelines, and will not be supplied or offered inside america or to, or for the account or good thing about, U.S. individuals absent U.S. registration or an relevant exemption from the U.S. registration necessities. This press launch doesn’t represent a suggestion on the market of securities, nor a solicitation for gives to purchase any securities in america, nor in some other jurisdiction during which such provide, solicitation or sale can be illegal.

About Medexus

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Medexus is a number one specialty pharmaceutical firm with a robust North American business platform and a rising portfolio of modern and uncommon illness therapy options. Medexus’s present focus is on the therapeutic areas of oncology, hematology, rheumatology, auto-immune ailments, allergy, and dermatology. For extra details about Medexus and its product portfolio, please see the corporate’s company web site at www.medexus.com and its filings on SEDAR+ at www.sedarplus.ca.

Contacts

Ken d’Entremont | CEO, Medexus Prescription drugs
Tel: 905-676-0003 | E mail: ken.dentremont@medexus.com

Marcel Konrad | CFO, Medexus Prescription drugs
Tel: 312-548-3139 | E mail: marcel.konrad@medexus.com                                    

Ahead Trying Statements

Sure statements made on this press launch comprise forward-looking data inside the which means of relevant securities legal guidelines (“forward-looking statements”). The phrases “anticipates”, “believes”, “expects”, “will”, “plans” and related expressions are sometimes meant to establish forward-looking statements, though not all forward-looking statements comprise these figuring out phrases. Particular forward-looking statements contained on this information launch embody, however are usually not restricted to, statements with respect to the proposed time limit of the Providing, the receipt of regulatory approvals and the anticipated use of proceeds of the Providing. These statements are primarily based on elements or assumptions that had been utilized in drawing a conclusion or making a forecast or projection, together with assumptions primarily based on historic developments, present circumstances and anticipated future developments. Since forward-looking statements relate to future occasions and circumstances, by their very nature they require making assumptions and contain inherent dangers and uncertainties. The Firm cautions that though it’s believed that the assumptions are affordable within the circumstances, these dangers and uncertainties give rise to the chance that precise outcomes could differ materially from the expectations set out within the forward-looking statements. Materials threat elements embody these set out within the Firm’s supplies filed with the Canadian securities regulatory authorities once in a while, together with the Firm’s most up-to-date annual data kind and administration’s dialogue and evaluation. Accordingly undue reliance shouldn’t be positioned on these forward-looking statements, which apply solely as of the date hereof. Aside from as particularly required by legislation, the Firm undertakes no obligation to replace any forward-looking statements to replicate new data, subsequent or in any other case.

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