Company: CSCIF
Filing Date: 2025-04-09
Form Type: 20-F
Source: 0001641172-25-003456
Chunk: 141

Company: COSCIENS Biopharma Inc.
Filing Date: 2025-04-09
Form: 20-F
Item: Item 6
Chunk 141
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 SUMMARY IS OF A GENERAL NATURE ONLY AND IS NOT INTENDED TO BE, NOR SHOULD IT BE CONSTRUED TO BE, LEGAL OR TAX ADVICE TO ANY
PARTICULAR HOLDER. CONSEQUENTLY, HOLDERS ARE URGED TO CONSULT THEIR OWN TAX ADVISORS FOR ADVICE AS TO THE TAX CONSEQUENCES OF AN INVESTMENT
IN THE COMMON SHARES HAVING REGARD TO THEIR PARTICULAR CIRCUMSTANCES.

Material
Canadian Income Tax Considerations

The
following summary describes the principal Canadian federal income tax considerations applicable to a holder of Common Shares and who,
for the purposes of the Canadian federal Income Tax Act, R. S. C. 1985, as amended (the “ Tax Act holder

This
summary is not applicable to a holder (i) that is a “financial institution”, as defined in the Tax Act for purposes of the
mark-to- market rules, (ii) that is a “specified financial institution”, as defined in the Tax Act, (iii) an interest in
which would be a “tax shelter investment” as defined in the Tax Act, (iv) that has made a functional currency reporting election
for purposes of the Tax Act, (v) that has entered or will enter into a “derivative forward agreement”, as defined in the
Tax Act, in respect of Common Shares, or (vi) that receives dividends on Common Shares under or as part of a dividend rental arrangement
as defined in the Tax Act. Such holders should consult their own tax advisors.

  95  

Additional
considerations, not discussed herein, may be applicable to a holder that is a corporation resident in Canada, and is, or becomes, or
does not deal at arm’s length for purposes of the Tax Act with a corporation resident in Canada that is or becomes, as part of
a transaction or series of transactions or events that includes the acquisition of the Common Shares, controlled by a non-resident person
or a group of non-resident persons not dealing with each other at arm’s length for the purposes of the “foreign affiliate
dumping” rules in section 212.3 of the Tax Act. Such holders should consult their tax advisors with respect to the consequences
of acquiring Common Shares.

This
summary is based upon the current provisions of the Tax Act and the regulations promulgated thereunder (the “ Regulations CRA Tax Proposals

For
purposes of the Tax Act, all amounts, including dividends, adjusted cost base and proceeds of