Company: MDCXW
Filing Date: 2025-05-01
Form Type: DRS
Source: 0001062993-25-008292
Chunk: 205

Company: Medicus Pharma Ltd.
Filing Date: 2025-05-01
Form: DRS
Chunk 205
---
 must first (i) to the extent necessary, obtain shareholder approval prior to issuing common shares in excess of the Exchange Cap in accordance with applicable Nasdaq rules, and (ii) file with the SEC one or more additional registration statements to register under the Securities Act the resale by the Selling Shareholder of any such additional common shares, which the SEC must declare effective, in each case, before we may elect to sell any additional common shares to the Selling Shareholder under the SEPA. The number of common shares ultimately offered for resale by the Selling Shareholder depends upon the number of common shares, if any, we ultimately sell to the Selling Shareholder under the SEPA.

The issuance, if any, of common shares to the Selling Shareholder pursuant to the SEPA would not affect the rights or privileges of our existing shareholders, except that the economic and voting interests of each of our existing shareholders would be diluted. Although the number of common shares that our existing shareholders own would not decrease as a result of sales, if any, under the SEPA, the common shares owned by our existing shareholders would represent a smaller percentage of our total outstanding common shares after any such issuance.

<div align='center'>- 134 -</div>

| CONFIDENTIAL TREATMENT REQUESTED BY MEDICUS PHARMA LTD. 
 PURSUANT TO 17 C.F.R. SECTION 200.83                    |

The following table sets forth the number of common shares to be issued to the Selling Shareholder under the SEPA at varying purchase prices:

| Assumed Average Purchase Price 
 Per Share                      |     |   Number of Registered 
 Shares to be Issued if 
       Full Purchase(1) |     |  Percentage of Outstanding 
 Shares After Giving Effect 
     to the Issuance to the 
     Selling Shareholder(2) |   |     |       Gross Proceeds from the 
 Sale of Shares to the Selling 
         Shareholder Under the 
                          SEPA |
| $           2.00               |     |              3,604,160 |     |                       23.4 | % |     |                    $7,208,320 |
| $           2.80(3)            |     |              3,604,160 |     |                       23.4 | % |     |                   $10,091,648 |
| $           3.00               |     |              3,604,160 |     |                       23.4 | % |     |