Company: EDSA
Filing Date: 2025-03-04
Form Type: S-3
Source: 0001171843-25-001239
Chunk: 20

Company: Edesa Biotech, Inc.
Filing Date: 2025-03-04
Form: S-3
Chunk 20
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 of the stated value or (ii) at its option, subject to the limitations on conversion, convert
the Preferred Shares prior to such liquidation event. If amounts payable on a liquidation, dissolution or winding-up of the Company, or
on the occurrence of any other event that entitles the shareholders holding all series of preferred shares to be paid out of the assets
of the Company legally available for distribution to the Company’s shareholders, including a return of capital, are not paid in
full, holders of Preferred Shares must participate rateably in such distribution with holders of all other series of preferred shares.

Anti-takeover Provisions of our Articles of Incorporation

In addition to the board of directors’ ability
to issue preferred shares, our Articles contain other provisions that are intended to enhance the likelihood of continuity and stability
in the composition of our board of directors and which may have the effect of delaying, deferring or preventing a future takeover or change
in control of the Company unless such takeover or change in control is approved by our board of directors. These provisions include advance
notice procedures for shareholder proposals and a supermajority vote requirement for business combinations.

Advance Notice Procedures for Shareholder Proposals

Effective October 31, 2013, our board of directors
adopted an advance notice policy (the “Advance Notice Policy”) with immediate effect for the purpose of providing our shareholders,
directors and management with a clear framework for nominating our directors in connection with any annual or special meeting of shareholders.
The Advance Notice Policy was approved by the shareholders at our annual meeting on February 13, 2014.

Purpose of the Advance Notice Policy. Our directors
are committed to: (i) facilitating an orderly and efficient annual general or, where the need arises, special meeting, process; (ii) ensuring
that all shareholders receive adequate notice of the director nominations and sufficient information with respect to all nominees; and
(iii) allowing shareholders to register an informed vote having been afforded reasonable time for appropriate deliberation. The purpose
of the Advance Notice Policy is to provide our shareholders, directors and management with a clear framework for nominating directors.
The Advance Notice Policy fixes a deadline by which holders of record of our common shares must submit director nominations to the Company
prior to any annual or special meeting of shareholders and sets forth the information that a shareholder must include in the notice to
the Company for the notice to be in proper written form in order for any director nominee to be eligible for election at any annual or
special