Exchange Bulletin

Medexus Pharmaceuticals Inc. (MDP, MDP.WT, MDP.DB) To Trade On Toronto Stock Exchange

June 15, 2021

Issuer: Medexus Pharmaceuticals Inc. (the "Company")

Security:SymbolIssued and Outstanding SecuritiesReserved SecuritiesTrading Currency
Common Shares ("Shares") MDP 19,168,540 17,924,012 CDN$
Common Share Purchase Warrants ("Warrants") MDP.WT 2,290,844 0 CDN$
6% Unsecured Convertible Debentures ("Debentures") MDP.DB 41,546 0 CDN$
Listing category: Industrial, Non-Exempt Issuer
Trading currency: CDN$
Listing and posted for trading date: June 17, 2021 (at the opening)
Other market(s): The Common Shares have been listed on TSX Venture Exchange (the "TSXV") since December 27, 2013. The Warrants have been listed on the TSXV since March 2, 2021. The Debentures have been listed on the TSXV since February 12, 2019. The aforementioned securities will be delisted from the TSX Venture Exchange on June 17, 2021, upon commencement of trading on the Toronto Stock Exchange ("TSX"). The Shares will continue to trade on OTC Market's OTCQX under the symbol "MEDXF" and on the Frankfurt Stock Exchange under the symbol "P731".
Temporary market maker: TD Securities Inc.
Security ownership registration: Common Shares – Uncertificated Issue - Non-certificated Inventory and Direct Registration System Warrants – Uncertificated Issue - Non-certificated Inventory Debentures – Uncertificated Issue - Non-certificated Inventory
Investor relations: Ken D'Entremont
Chief Executive Officer
905-676-0003 Email: - or – Roland Boivin Chief Financial Officer 514-344-8675 Email:
Incorporation: Canada Business Corporations Act
Fiscal year end: March 31
Nature of business: The Company, both directly and through its three active operating subsidiaries, is a North American specialty pharmaceutical company with a portfolio of products in the areas of rheumatology, auto-immune disease, allergy, speciality oncology, hematology and pediatrics. The Company's experienced management team has a long and proven track record of successfully sourcing, developing and commercializing drugs in a variety of therapeutic areas at all stages of their life cycle throughout North America.
Transfer agent and registrar: Computershare Trust Company of Canada at its principal office in Calgary for the Common Shares, Warrants, and Debentures.
Dividends: The Company does not anticipate paying cash dividends on the Common Shares in the foreseeable future.
Sponsorship: Not applicable.

Principal Terms of the Warrants

Exercise price: $10.00 per Common Share
Expiry: February 23, 2023 (at 5:00 p.m. (Toronto time)) subject to an Acceleration Right
Additional Information: Warrant indenture dated February 23, 2021 which is available at Capitalized terms not otherwise defined herein are as defined in the warrant indenture.

Principal Terms of the Debentures

Trading rules: The Debentures will be quoted and traded on an accrued interest basis, i.e. all bids, offers and trades of the Debentures will reflect only the capital portion of the Debentures and will not reflect accrued interest. Accrued interest must be reflected in the seller's and buyer's settlement amount, and must be reflected on the confirmation with clients.
The Debentures, which are issuable in the minimum principal amount of $1,000 each, will be quoted based on $100 principal amounts with all trades being made in multiples of $1,000. The minimum trading unit of Debentures is $1,000 and a board lot of Debentures is $1,000.
Maturity Date: October 16, 2023
Interest payment dates: Semi-annually on September 30 and March 31
Interest rate: 6% per annum. Interest will be computed on the basis of a 365-day year.
Next interest payment date: September 30, 2021
Next interest payment amount: $30.00 per $1,000 principal amount
Conversion: Debentures are convertible into units ("Conversion Units") consisting of 0.0667 Common Shares and 0.0333 warrants, at a price of $6.30 per Conversion Unit.
Additional Information: Debenture indenture dated October 16, 2018 which is available at Capitalized terms not otherwise defined herein are as defined in the debenture indenture.
TSX contact: Chris Birkett,
Managing Director,
Toronto Stock Exchange