Company: CSCIF
Filing Date: 2025-04-09
Form Type: 20-F
Source: 0001641172-25-003456
Chunk: 136

Company: COSCIENS Biopharma Inc.
Filing Date: 2025-04-09
Form: 20-F
Item: Item 6
Chunk 136
---
 the nature of the business in sufficient
detail to permit the shareholder to form a reasoned judgment on and must state the text of any special resolution or bylaw to be submitted
to the meeting.

Our
bylaws include an advance notice provision (the “ Advance Notice Requirement

Among
other things, the Advance Notice Requirement fixes a deadline by which shareholders must submit a notice of director nominations to us
prior to any annual or special meeting of shareholders where directors are to be elected and sets forth the information that a shareholder
must include in the notice for it to be valid. In the case of an annual meeting of shareholders, we must be given not less than 30 nor
more than 65 days’ notice prior to the date of the annual meeting; provided, however, that in the event that the annual meeting
is to be held on a date that is less than 50 days after the date on which the first public announcement of the date of the annual meeting
was made, notice may be made not later than the close of business on the 10 th th

The
Board may, in its sole discretion, waive any requirement of the Advance Notice Requirement.

  92  

Limitations
on Right to Own Securities

Neither
Canadian law nor our Articles or bylaws limit the right of a non-resident to hold or vote our Common Shares, other than as provided in
the Investment Canada Act Investment Act

The
Investment Act requires any person that is a “non-Canadian” (as defined in the Investment Act) who acquires “control”
(as defined in the Investment Act) of an existing Canadian business to file either a pre-closing application for review or a post-closing
notification with Innovation, Science and Economic Development Canada.

As
of the date hereof, the threshold for review of a direct acquisition of control of a non-cultural Canadian business by a World Trade
Organization member country investor that is not a state-owned enterprise is an enterprise value of assets that exceeds CAN$1.326 billion.
For “trade agreement investors” that are not state-owned enterprises (as defined in the Investment Act), the threshold for
review of a direct acquisition of control of a non-cultural Canadian business is an enterprise value of assets that exceeds CAN$1.989
billion. The enterprise value review thresholds for both World Trade Organization member countries and trade agreement investors are
indexed to annual GDP growth and are adjusted accordingly each year. For purposes of a publicly traded company, the “enterprise
value” of the assets