Company: MDCXW
Filing Date: 2025-06-13
Form Type: PRE 14A
Source: 0001062993-25-011673
Chunk: 34

Company: Medicus Pharma Ltd.
Filing Date: 2025-06-13
Form: PRE 14A
Chunk 34
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 any legal proceedings required to be disclosed pursuant to Item 401(f) of Regulation S-K or applicable Canadian securities laws.

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Certain Relationships and Related Transactions

Related Party Transactions

Parties are considered to be related if one party has the ability, directly or indirectly, to control the other party or exercise significant influence over the other party in making operating and financial decisions. This would include the Company's senior management, who are considered to be key management personnel by the Company. Parties are also related if they are subject to common control or significant influence. Related parties may be individuals or corporate entities. A transaction is considered to be a related party transaction when there is a transfer of resources or obligations between related parties. The Audit Committee is charged with oversight over related party transactions entered into by the Company.

Company Transactions with Related Parties

On October 18, 2023, the Company signed an agreement with RBx Capital, LP ("RBx"), that provides for certain managerial positions to be filled from within RBx. RBx is responsible for the payment and provision of all wages, bonuses, and benefits for these positions. Reimbursable salaries paid to RBx pursuant to this agreement are $125,000 per month. In December 2024, reimbursable salaries were changed to $100,000 per month. Reimbursable salaries paid to RBx were $1,300,000 and $400,000 during the years ended December 31, 2024 and 2023, respectively. Additional expenses of $180,857 and $736,690 were incurred by RBx on behalf of the Company during the years ended December 31, 2024 and 2023, respectively. The Company paid $1,623,316 and $970,740 to RBx during the years ended December 31, 2024 and 2023. The total amount of accounts payable to RBx was $142,459 and $165,950 as of December 31, 2024 and 2023, respectively.

In connection with the convertible notes issued by the Company on May 3, 2024, related parties consisting of key management personnel subscribed for 168,750 convertible notes in the principal amount of $675,000 on the same terms as the investors who were not related to the Company. The convertible notes, along with accrued but unpaid interest, were subsequently converted into equity and settled with 172,953 Common Shares. RBx purchased $300,