Company: EDSA
Filing Date: 2025-03-11
Form Type: 424B3
Source: 0001171843-25-001403
Chunk: 19

Company: Edesa Biotech, Inc.
Filing Date: 2025-03-11
Form: 424B3
Chunk 19
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s due in respect of such Series A-1 Share.

#### Series B-1 Convertible Preferred Shares
On February 12, 2025, we filed a notice
of alteration to our Articles to amend our authorized share structure to create a series of preferred shares, without par value, designated
as “Series B-1 Convertible Preferred Shares” (referred to herein as the “Preferred Shares”). We are authorized
to issue up to 1,000 Preferred Shares.

The Preferred Shares have no par value
and a stated value of $10,000 per share and rank, with respect to redemption payments, rights upon liquidation, dissolution or winding-up
of the Company, or otherwise, senior in preference and priority to the common shares and each other class or series of shares ranking
junior to the Preferred Shares, but equal to other series of preferred shares.

If we declare or make any dividend or
other distribution to common shares, the holders of Preferred Shares will be entitled to dividends, on an as-if converted basis, equal
to and in the same form as dividends actually paid on the common shares, when and if actually paid.

Each Preferred Share is convertible
into a number of common shares calculated by dividing (i) the sum of the stated value of such Preferred Share by (ii) a fixed conversion
price of $1.92. A holder of Preferred Shares will not have the right to convert any portion of its Preferred Shares if, together with
its affiliates, it would beneficially own in excess of 4.99% (or, at the option of the Investor, 9.99%) of the number of common shares
outstanding immediately after giving effect to such conversion, provided, however, that a holder may increase or decrease the beneficial
ownership limitation by giving 61 days’ notice to us, but not to any percentage in excess of 19.99%. The Preferred Shares do not
have the right to vote on any matters except as required by law and do not contain any variable pricing features, or any price-based anti-dilutive
features.

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In the event of any liquidation, dissolution
or winding-up of the Company, a holder of Preferred Shares shall be entitled to (i) receive, before any distribution or payment may be
made with respect to common shares, an amount equal to 100% of the stated value or (ii) at its option, subject to the limitations on conversion,
convert the Preferred Shares prior to such liquidation event