Company: CSCIF
Filing Date: 2025-04-09
Form Type: 20-F
Source: 0001641172-25-003456
Chunk: 142

Company: COSCIENS Biopharma Inc.
Filing Date: 2025-04-09
Form: 20-F
Item: Item 6
Chunk 142
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 disposition, must generally be determined
in Canadian dollars. Amounts denominated in a foreign currency must be converted to Canadian currency using exchange rates determined
in accordance with the Tax Act. The amount of any capital gain or any capital loss to a holder with respect to the Common Shares may
be affected by fluctuations in Canadian dollar exchange rates.

Holders
Not Resident in Canada

The
following discussion applies to a holder who, at all relevant times, for purposes of the Tax Act, is neither resident nor deemed to be
resident in Canada and does not, and is not deemed to, use or hold Common Shares in carrying on a business or part of a business in Canada
(a “ Non-Resident holder

Disposition
of Common Shares

A
Non-Resident holder generally will not be subject to tax under the Tax Act in respect of any capital gain realized by such Non- Resident
holder on a disposition or deemed disposition of Common Shares unless such shares constitute “taxable Canadian property”
(as defined in the Tax Act) of the Non-Resident holder at the time of disposition and the gain is not exempt from tax pursuant to the
terms of an applicable income tax treaty or convention. As long as the Common Shares are listed on a designated stock exchange (which
currently includes the NASDAQ and the TSX) at the time of their disposition, the Common Shares generally will not constitute taxable
Canadian property of a Non-Resident holder, unless (a) at any time during the 60-month period immediately preceding the disposition (i)
one or any combination of (A) the Non-Resident holder, (B) persons with whom the Non-Resident holder did not deal at arm’s length,
and (C) partnerships in which the Non-Resident holder or a person described in (B) holds a membership interest directly or indirectly
through one or more partnerships, owned 25% or more of the issued shares of any class or series of shares of the Company; and (ii) more
than 50% of the fair market value of the shares of the Company was derived directly or indirectly from one or any combination of real
or immovable property situated in Canada, “ Canadian resource properties” (as defined in the Tax Act), “timber resource
properties” (as defined in the Tax Act) or options in respect of, or interests in, or for civil law rights in, any such property
whether or not such property exists or (b) the Common Shares are otherwise