Medicus Pharma (MDCX) Closes $7M Notes Offering

Medicus Pharma Ltd. (NASDAQ: MDCX) (the "Company") today announced the closing of its previously announced public offering of 2,260,000 units, on a "best-efforts" basis, at a price of $3.10 per unit. Each unit consisted of one common share of the Company and one warrant to purchase one common share. The warrants have an exercise price of $3.10 per share and will expire 5 years from the date of issuance.

Maxim Group LLC acted as the lead placement agent for the offering. Brookline Capital Markets, a division of Arcadia Securities, LLC and D. Boral Capital acted as co-placement agents for the offering.

The common shares are listed on The Nasdaq Capital Market under the symbol "MDCX". The warrants will not trade on any securities exchange.

The Company intends to use any net proceeds from the offering to fund its Phase 2 proof of concept clinical trial for treatment of basal cell carcinoma using its doxorubicin tip loaded dissolvable microarray needle skinpatch. The Company may also use the net proceeds of the offering to expand its exploratory phase 2 clinical trial to a pivotal trial and/or to expand its trials to cover other non-melanoma skin diseases. The Company will use any remaining net proceeds for general corporate purposes and working capital.

This offering was made by means of a prospectus. Copies of the preliminary prospectus relating to the offering and final prospectus may be obtained from Maxim Group LLC, 300 Park Avenue, 16th Floor, New York, NY 10022, Attention: Syndicate Department, by telephone at (212) 895-3745 or by email at [email protected].

This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any State or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such State or jurisdiction.

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