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Medexus Pharmaceuticals closes previously announced ‘bought deal’ public offering total gross proceeds of approximately $32,529,992

Medexus Pharmaceuticals Inc. (CVE:MDP) said it has closed its previously announced bought deal public offering of 4,581,689 units at a price of $7.10 each for total gross proceeds of approximately $32,529,992, including 597,611 units sold under the full exercise of the over-allotment option granted to the underwriters. As previously announced, the company intends to use the net proceeds to fund certain payments owed to medac GmbH under the commercialization and supply agreement dated February 2, 2021, as such payments become due under the terms of the agreement and for working capital and general corporate purposes. READ: Medexus Pharmaceuticals strikes licensing agreement to commercialize treosulfan in the US Each unit consists of one common share and one-half of one common share purchase warrant. Each whole warrant entitles the holder to purchase one common share in the company at a price equal to $10.00 until February 23, 2023. In the event that the volume-weighted average trading price of Medexus common shares on the TSX Venture Exchange for 10 consecutive trading days exceeds $14.00, the company may, within 10 business days of the occurrence of such event, accelerate the expiry date of the warrants to the date that is 30 days following the date of delivering notice. The offering was led by Raymond James and Stifel GMP, as co-lead underwriters and joint bookrunners, on behalf of a syndicate of underwriters consisting of Roth Canada, ULC, Bloom Burton Securities and Mackie Research Capital. The units were offered and sold by way of a final short form prospectus dated February 17, 2021, filed in each of the provinces of Canada and offered and sold elsewhere outside of Canada on a private placement basis. Medexus is a leader in innovative rare disease treatment solutions with a strong North American commercial platform. From a foundation of proven best in class products it is building a highly differentiated company with a portfolio of innovative and high-value orphan and rare disease products that will underpin its growth for the next decade. The company’s leading products are: Rasuvo and Metoject, a unique formulation of methotrexate (auto-pen and pre-filled syringe) designed to treat rheumatoid arthritis and other auto-immune diseases; IXINIT, an intravenous recombinant factor IX therapeutic for use in patients 12 years of age or older with Hemophilia B – a hereditary bleeding disorder characterized by a deficiency of clotting factor IX in the blood, which is necessary to control bleeding; and Rupall, an innovative prescription allergy medication with a unique mode of action. Contact the author at jon.hopkins@proactiveinvestors.com

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