Medexus Announces Normal Course Issuer Bid, or NCIB, for Its Common Shares

Executive Summary

• Medexus Pharmaceuticals received TSX acceptance to commence a normal course issuer bid allowing the purchase and cancellation of up to 2,983,650 common shares (~10% of public float).
• The NCIB may begin on November 24, 2025 and run through November 23, 2026, funded from general corporate cash.
• Daily purchase limits are set at a maximum of 10,016 shares (25 % of the average daily trading volume of 40,066 shares).

Key Details

• NCIB Scope: Up to 2,983,650 common shares may be purchased and cancelled, representing roughly 10 % of Medexus’s public float.
• Public Float Basis: As of November 12 2025, 32,420,060 shares were outstanding; the public float was 29,836,506 shares.
• Purchase Window: Commences Nov 24 2025 and continues until Nov 23 2026 or earlier if the maximum share limit is reached.
• Funding Source: Purchases will be made using Medexus’s general funds; no external financing required.
• Trading Mechanics: Acquisitions will occur via open‑market transactions on the TSX or alternative Canadian trading systems at prevailing market prices, subject to TSX rules and any block purchase exceptions.
• Daily Purchase Cap: Limited to 10,016 shares per day (25 % of ADTV), based on the six‑month average daily volume of 40,066 shares ending Oct 31 2025.
• Strategic Rationale (CFO Quote): “Purchases under this new NCIB could be an appropriate use of our available funds, where we believe the market price of the common shares may be undervalued… to uphold a liquid, stable, and orderly market for our common shares.”

Notable Quotes

• Brendon Buschman – CFO: “We intend to carefully monitor the market price of the common shares… Purchases under this new NCIB could be an appropriate use of our available funds, where we believe the market price of the common shares may be undervalued. Any such purchases we make will benefit the company and its investors by seeking to uphold a liquid, stable, and orderly market for our common shares.”