Mr. Francois Roberge reports

LSL PHARMA GROUP ANNOUNCES A COMBINATION OF PRIVATE PLACEMENTS FOR MAXIMUM AGGREGATE GROSS PROCEEDS OF $4.5 MILLION

LSL Pharma Group Inc. has launched a non-brokered private placement financing of units (as defined hereinafter) of a maximum of $3-million (7.5 million units) and it is conducting discussions with its creditors to settle debts in units for an aggregate amount of up to $1.5-million (3.75 million units). The closing of each of the financing and the units for debts may take place concurrently but are not conditional on successfully completed the other transaction. Proceeds to be used to further expand production capacity and strengthen working capital.

Each unit to be issued pursuant to the financing and the units for debts will be at a price of 40 cents per unit and will consist of one Class A share of the corporation (a common share) and one common share purchase warrant. Each warrant will entitle the holder, subject to adjustments in certain cases, to purchase one common share at a price of 70 cents for a period of 24 months following the closing of the financing.

Any finder to the financing may receive a cash commission equal to up to 5 per cent of the gross proceeds of the subscriptions introduced through its intermediary and that number of finder's warrants (as defined hereinafter) which is equal to up to 5 per cent of the number of units subscribed for from subscribers introduced through its intermediary. Each finder's warrant will entitle the holder, subject to adjustments in certain cases, to purchase one common share at a price of 70 cents for a period of 18 months following the closing of the financing.

Each issued unit, common share, warrant, warrant share, finder's warrant and common share issued upon the exercise of the finder's warrant will be subject to a four-month hold period under the applicable securities laws. The financing and the units for debts are subject to the regulatory approvals, including the TSX Venture Exchange.

About LSL Pharma Group Inc.

LSL Pharma Group is an integrated Canadian pharmaceutical company specializing in the development, manufacturing and commercialization of high-quality sterile ophthalmic pharmaceuticals, as well as natural health products in solid dosage forms.

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