Company: MDCXW
Filing Date: 2025-09-11
Form Type: DRS
Source: 0001062993-25-015568
Chunk: 236

Company: Medicus Pharma Ltd.
Filing Date: 2025-09-11
Form: DRS
Chunk 236
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 we have been advised that, in the opinion of the SEC, this indemnification is against public policy as expressed in the Securities Act and is therefore unenforceable.

The Selling Shareholder has represented to us that at no time during the period commencing as of the time that the Selling Shareholder first contacted the Company regarding the specific investment in the Company contemplated by the SEPA and ending immediately prior to the execution of the SEPA has the Selling Shareholder engaged, directly or indirectly, any transactions with respect to our common shares, including any short sale or any transaction that establishes a net short position. The Selling Shareholder has agreed that, during the term of the SEPA, none of the Selling Shareholder, its officers or any entity managed or controlled by the Selling Shareholder will enter into or effect, directly or indirectly, any short sale or any transaction that establishes a net short position with respect to our common shares for its own account or for the account of any other such person or entity; provided, the foregoing shall not prohibit the Selling Shareholder from selling "long" anyof our common sharesor selling a numberof our common sharesequal to a number of ourcommon shares tobe issued pursuant to an Advance Notice, following receipt of such Advance Notice, but prior to receiving such shares.

We have advised the SellingShareholderthatit isrequired to comply with Regulation M promulgated under the Exchange Act. With certain exceptions, Regulation M precludes the SellingShareholder,any affiliated purchasers, and any broker-dealer or other person who participates in the distribution from bidding for or purchasing, or attempting to induce any person to bid for or purchase, any security that is the subject of the distribution until the entire distribution is complete. Regulation M also prohibits any bids or purchases made in order to stabilize the price of a security in connection with the distribution of that security. All of the foregoing may affect the marketability of the securities offered by this prospectus.

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

This offering will terminate on the date that all common shares offered by this prospectus have been sold by the Selling Shareholder.

<div align='center'>EXPERTS AND LEGAL MATTERS</div>

No expert or counsel named in this prospectus as having prepared or certified any part of this prospectus or having given an opinion upon the validity of the securities