Company: MDCXW
Filing Date: 2025-11-19
Form Type: S-1
Source: 0001062993-25-016962
Chunk: 262

Company: Medicus Pharma Ltd.
Filing Date: 2025-11-19
Form: S-1
Chunk 262
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 recorded in the condensed consolidated statements of operations and comprehensive loss for the three and nine months ended September 30, 2025.

<div align='center'>F-41</div>

11. Debentures (continued)

The new debenture was initially recorded at fair value, based on the discounted proceeds. Subsequently, the Company accounted for the debenture at amortized cost using the effective interest rate method, resulting in accretion expense of $69,519 for the period ended September 30, 2025.

Debenture Activity

| Debentures issued on May 02, 2025 and paid back on September 17, 2025 |   | September 30, 2025 |   |
|:----------------------------------------------------------------------|:--|-------------------:|:--|
| Proceeds of debentures                                                | $ |          4,500,000 |   |
| Fair value loss                                                       |   |            583,823 |   |
| Repayment of debentures                                               |   |         (3,337,073 | ) |
| Interest payment                                                      |   |            (83,823 | ) |
| Repayment of debentures on extinguishment                             |   |         (1,662,927 | ) |
| Ending balance                                                        | $ |                  - |   |
| New debentures issued on September 17, 2025                           |   |                    |   |
|                                                                       |   | September 30, 2025 |   |
| Proceeds of new debenture                                             |   |          7,366,293 |   |
| Repayment of new debenture                                            |   |           (636,246 | ) |
| Interest accretion                                                    |   |             69,519 |   |
| Interest payment                                                      |   |            (13,754 | ) |
| Ending balance                                                        | $ |          6,785,812 |   |

12. Antev Asset Acquisition

On August 29, 2025 (the "Closing date"), the Company completed acquiring shares from securityholders of Antev Limited, or Antev (the "Antev Acquisition").

Pursuant to the terms of the Antev Acquisition, the Company acquired 98.60% of ownership in Antev including all the assets and its In-Process Research and Development (IPR&D) - Teverelix by issuing 1,603,164 common shares, payment of $2,970,166 and