Company: IXHL
Filing Date: 2025-04-17
Form Type: PRER14A
Source: 0001213900-25-033013
Chunk: 64

Company: Incannex Healthcare Inc.
Filing Date: 2025-04-17
Form: PRER14A
Chunk 64
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 jurisdiction over its administration and one or more U.S. persons (within the meaning of Section 7701(a)(30) of the Code) has the authority 
 to control all of its substantial decisions, or (ii) it was in existence before August 20, 1996 and a valid election is in place under      
 applicable U.S. Treasury Regulations to treat such trust as a U.S. person for U.S. federal income tax purposes.                             |

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This summary is based on the provisions of the Internal Revenue Code
of 1986, as amended (the “Code”), U.S. Treasury Regulations, administrative rulings and judicial authority, all as in effect
as of the date of this proxy statement. Subsequent developments in U.S. federal income tax law, including changes in law or differing
interpretations, which may be applied retroactively, could have a material effect on the U.S. federal income tax consequences of the Reverse
Stock Split.

We have not sought, and will not seek, any ruling from the Internal
Revenue Service (the “IRS”) or an opinion of tax counsel with respect to the matters discussed herein.
The discussion below regarding the U.S. federal income tax consequences of the Reverse Stock Split is not binding
on the IRS or the courts. Accordingly, each U.S. holder is urged to consult with his, her or its own tax advisor with respect to the tax
consequences of the Reverse Stock Split.

This summary does not address all of the tax consequences
that may be relevant to any particular investor, including tax considerations that arise from rules of general application to all taxpayers
or to certain classes of taxpayers or that are generally assumed to be known by investors. This summary also does not address the tax
consequences to (i) persons that may be subject to special treatment under U.S. federal income tax law, such as banks, insurance companies,
thrift institutions, regulated investment companies, real estate investment trusts, tax-exempt organizations, U.S. expatriates, persons
subject to the alternative minimum tax, persons whose functional currency is not the U.S. dollar, partnerships or other pass-through entities,
traders in securities that elect to mark to market and dealers in securities or currencies, (ii) persons that hold our common stock as
part of a position in a “straddle” or as part of a “hedging transaction,” “conversion transaction”
or other integrated investment transaction for federal income tax purposes, (iii) persons