Medicus Pharma Ltd. announced a private placement to issue 10.00% Unsecured Convertible Notes due 2025 on April 25, 2024.

The company announced that it will issue 10.00% Unsecured Convertible Notes due 2025 $5,172,500 aggregate principal amount of Notes will be issued at the first closing, which is expected to occur on or about May 1, 2024, subject to customary closing conditions, including the approval of the TSX Venture Exchange. The Company may issue additional Notes in one or more further closings, with up to $10,000,000 aggregate principal amount of Notes to be issued and outstanding following completion. of the Private Placement. The Notes will bear interest at a rate of 10.00% per annum, payable semi-annually in arrears in the form of either cash or common shares of the Company at the election of the holder. On or after January 1, 2025, the Notes will be convertible at the option of the holder at a conversion price of $2.00 per common share. The Notes will mature on December 31, 2025 and may be redeemed by the Company, in whole or in part, on or after January 1, 2025, for a price equal to 100% of the principal amount of the Notes to be redeemed plus accrued and unpaid interest up to but not including the date of redemption.