Company: MDCXW
Filing Date: 2025-03-07
Form Type: 253G1
Source: 0001062993-25-004966
Chunk: 236

Company: Medicus Pharma Ltd.
Filing Date: 2025-03-07
Form: 253G1
Chunk 236
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                            |     |        27,286 |     |    150,000 |
| Common shares issued(iii)                                 |     |     1,277,488 |     |  5,109,950 |
| Balance - December 31, 2023                               |     |     8,076,735 |     | 19,835,839 |

(i) Prior to the RTO, SkinJect completed a consolidation of its share capital on a 3.413443-to-1 basis.

(ii) Prior to the RTO, SkinJect redeemed the issued and outstanding preferred shares for 3,952,366 common shares, converted outstanding promissory notes for 647,224 common shares and converted the note payable for 27,286 common shares.

<div align='center'>F-39</div>

(iii) In connection with and as a closing condition of the RTO, the Company raised aggregate gross proceeds of $5,109,950 through the issuance of 1,277,488 common shares at a price of $4.00 per share.

9. Share-based compensation

The Company has established an Equity Incentive Plan (the "Plan") which is administered by the Board of Director's of the Company. Participants under the Plan include directors, officers, employees and consultants of the Company. The Company may issue share options or RSUs under the Plan. Each share option can be exercised into one common share of the Company upon vesting. The Board of Directors determines, among other things, the eligibility of individuals to participate in the Plan, the term and vesting periods, and the exercise price of options granted to individuals under the Plan. The options shall carry neither rights to dividends nor voting rights. Except as otherwise set forth, holders of RSUs may, as determined by the Board of Directors, have the right to receive dividends or other distributions if paid on such shares.

Each share option converts into one common share of the Company on exercise. The options carry neither rights to dividends nor voting rights. Options may be exercised at any time from the date of vesting to the date of their expiry. Options typically vest quarterly in equal tranches over four years from the date of grant.

During the year ended December 31, 2023, the Company granted 812,500 share options to directors, officers, employees and consultants of the Company (2022 - nil).

The change in the number of share options outstanding during the year ended December 31, 2023