Ms. Carolyn Bonner reports

MEDICUS PHARMA LTD. ANNOUNCES SHARE CONSOLIDATION IN ANTICIPATION OF PROPOSED U.S. LISTING

Medicus Pharma Ltd. has completed a consolidation of its common shares on a 1:2 basis.

The company has completed the consolidation in connection with its proposed U.S. initial public offering and application to list on a U.S. national securities exchange. For further details, please refer to the company's news release dated May 29, 2024.

The company expects its common shares to begin trading on the TSX Venture Exchange on a consolidated basis later today, Oct. 28, 2024, under its existing name and ticker symbol. The Cusip and ISIN (international securities identification number) for the consolidated common shares are 58471K202 and CA58471K2020, respectively.

The consolidation was approved by the company's shareholders on June 25, 2024, and by the company's board of directors on Oct. 15, 2024.

The company previously had 21,693,560 common shares outstanding, and the consolidation has reduced the number of outstanding common shares to approximately 10,846,780.

A letter of transmittal with respect to the consolidation will be mailed to registered shareholders of the company. All registered shareholders with physical certificates will be required to send their certificates representing preconsolidation common shares, along with a completed letter of transmittal, to the company's transfer agent, Odyssey Trust Company, in accordance with the instructions provided in the letter of transmittal. Additional copies of the letter of transmittal can be obtained through Odyssey. All shareholders who submit a duly completed letter of transmittal along with their preconsolidation share certificate(s) to Odyssey will receive a postconsolidation share certificate. Shareholders who hold their common shares through a broker or other intermediary and do not have common shares registered in their name will not need to complete a letter of transmittal.

About Medicus Pharma Ltd.

Medicus Pharma is a biotechnology/life sciences company focused on accelerating the clinical development programs of novel and disruptive therapeutics assets.

SkinJect Inc., a wholly owned subsidiary of Medicus Pharma, is a development-stage life sciences company focused on commercializing novel, non-invasive treatment for basal cell skin cancer using patented dissolvable microneedle patch to deliver chemotherapeutic agent to eradicate tumour cells.

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