Ms. Linda Kisa reports

CRESCITA THERAPEUTICS ANNOUNCES APPROVAL OF NORMAL COURSE ISSUER BID

The Toronto Stock Exchange has approved Crescita Therapeutics Inc.'s proposed normal course issuer bid (NCIB) to purchase up to a maximum of 1,821,616 common shares for cancellation, representing approximately 10 per cent of its public float as of Aug. 18, 2023, as appropriate opportunities arise from time to time. As of Aug. 27, 2023, the company had 20,374,153 issued and outstanding common shares.

Crescita's management and board of directors believe that the current market price of the common shares may not represent the underlying value of the company and has determined that, subject to future price movements and other factors, the repurchase of such common shares may be a desirable use of funds, and in the best interests of the company and its shareholders.

Purchases under the NCIB will be made through the facilities of the TSX or through a Canadian alternative trading system and in accordance with applicable regulatory requirements at a price per common share representative of the market price at the time of acquisition. The number of common shares that can be purchased pursuant to the NCIB is subject to a current daily maximum of 3,661 common shares (which is equal to 25 per cent of 14,646, being the average daily trading volume from Feb. 1, 2023, through to July 31, 2023), subject to the company's ability to make one block purchase of common shares per calendar week that exceeds such limits. All common shares purchased under the NCIB will be cancelled upon their purchase. The company intends to finance the purchases from its available resources.

The company may begin to purchase common shares on Aug. 31, 2023, and the NCIB will terminate on Aug. 30, 2024, or such earlier time as the company completes its purchases pursuant to the NCIB or provides notice of termination. The company has also entered into an automatic securities purchase plan in connection with its NCIB that contains strict parameters regarding how its common shares may be repurchased during times when it would ordinarily not be permitted to purchase common shares due to regulatory restrictions or self-imposed blackout periods. The automatic securities purchase plan is effective immediately.

Pursuant to the company's previous normal course issuer bid that commenced on Dec. 17, 2021, and ended on Dec. 16, 2022, 663,600 common shares at a weighted average price of 66 cents per share were purchased. Purchases were made on behalf of the company by its broker through the facilities of the TSX. Crescita was permitted to acquire up to one million common shares under its previous normal course issuer bid.

About Crescita Therapeutics Inc.

Crescita is a growth-oriented, innovation-driven Canadian commercial dermatology company with in-house R&D (research and development) and manufacturing capabilities. The company offers a portfolio of high-quality, science-based non-prescription skin care products and early-to-commercial-stage prescription products. Crescita also owns multiple proprietary transdermal delivery platforms that support the development of patented formulations to facilitate the delivery of active ingredients into or through the skin.

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