Company: MDCXW
Filing Date: 2025-05-30
Form Type: 424B4
Source: 0001062993-25-010548
Chunk: 223

Company: Medicus Pharma Ltd.
Filing Date: 2025-05-30
Form: 424B4
Chunk 223
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. The fair value of the warrants was estimated using the Black-Scholes option pricing model with the following inputs:

|                            |   |    2024 |
|:---------------------------|:--|--------:|
| Valuation date share price | $ |    2.65 |
| Exercise price             | $ |    4.64 |
| Expected dividend yield    |   |       - |
| Risk-free interest rate    |   |   4.32% |
| Expected term (in years)   |   | 5 years |
| Expected volatility        |   |     95% |

F-18 Medicus Pharma Ltd.
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
December 31, 2024 and 2023
[expressed in United States dollars, except share amounts] The number of warrants outstanding during the year ended December 31, 2024:

| Warrants outstanding |                |                    |
| Expiry date          | Exercise price | Number outstanding |
| November 15, 2029    |         $ 4.64 |          1,115,500 |

7. Stock-based compensation In 2023, the Company approved the Equity Incentive Plan (the "Plan"). The Plan provides both for the direct award or sale of shares and for the grant of options to purchase shares. Under the plan the total number of shares available for options cannot exceed 10% of the Company's issued and outstanding common shares at the time of any grant. The Company is authorized to issue options to employees, non-employee directors and consultants under the plan. On June 25, 2024, the Board of Directors approved the acceleration of vesting for all outstanding share options to June 25, 2024, resulting in the Company recognizing the remaining expense for all share options outstanding and unvested as of that date. The following table summarizes option transactions for the Plan:

| Outstanding at December 31, 2022 |     | Number of 
   options 
         - |   |     |       Weighted 
        average 
 exercise price 
             C$ 
              - |     |         Weighted 
          average 
        remaining 
 contractual life 
          (years) 
                - |     |       Aggregate 
 intrinsic value 
              C$ 
               - |
|:---------------------------------|:----|----------:|:--|:----|---------------:|:----|-----------------:|:----|----------------:|
|