MediPharm Labs Announces $20 million Bought Deal Equity Financing - Seite 2

The Offering is expected to close on or about March 5, 2021, and is subject to the receipt of all necessary regulatory approvals, including, but not limited to, the approval of the Toronto Stock Exchange, and the satisfaction of other customary closing conditions.

The Base Shelf Prospectus provides Company with the flexibility to take advantage of financing opportunities and favourable market conditions, and to offer, issue and sell, during the 25 month period that it remains effective (the "Effective Period") Shares; senior and subordinated unsecured debt securities, including debt securities convertible or exchangeable into other securities of MediPharm Labs; subscription receipts; warrants; and/or units comprised of one or more of such above-mentioned securities (collectively, the "Securities") for up to an aggregate offering price of $100,000,000, in one or more transactions during the Effective Period. The Company may also use the Base Shelf Prospectus in connection with an "at-the-market distribution" in accordance with applicable securities laws, which would permit Securities to be sold on behalf of the Company through the Toronto Stock Exchange (or other existing trading markets) as further described in the applicable prospectus supplement. To date, no agreement has been entered into with respect to any "at-the-market distribution".

If any Securities, in addition to the securities forming part of the Offering, are offered under the Base Shelf Prospectus, the terms of any such Securities and the intended use of the net proceeds resulting from such offering would be established at the time of any offering and would be described in a further prospectus supplement filed with the applicable Canadian securities regulatory authorities at the time of such offering, which would be made available by MediPharm Labs on SEDAR at www.sedar.com.

This news release does not constitute an offer to sell or a solicitation of an offer to buy any securities in the United States. The Units, the Shares, the Warrants and the Shares issuable on exercise of the Warrants have not been and will not be registered under the U.S. Securities Act, or any state securities laws and may not be offered or sold in the United States or to, or for the account or benefit of, “U.S. persons” (as defined in the U.S. Securities Act) absent registration or an applicable exemption from such registration requirements.