Mr. Jacek Antas reports

HELIX BIOPHARMA CORP. PROVIDES BI-WEEKLY UPDATE ON FILING OF INTERIM FINANCIAL STATEMENTS

Helix BioPharma Corp. has provided an update to its news release dated March 1, 2024, and subsequent news release dated March 15, 2024, regarding the late filing of the company's interim financial statements, and accompanying management's discussion and analysis for the six months ended Jan. 31, 2024.

The company's principal regulator, the Ontario Securities Commission, granted a management cease trade order (the MCTO) on March 25, 2024, under National Policy 12-203 -- Management Cease Trader Orders (NP 12-203). Pursuant to the MCTO, the chief executive officer and chief financial officer of the company may not trade in securities of the company until such time as the company files the interim filings and the commission revokes the MCTO. The MCTO does not affect the ability of shareholders to trade their securities. The company's board of directors and management confirm that they are continually working to file the interim filings as soon as possible.

Today the company announced a private placement financing of 12,766,667 common shares of the company at a price of 15 cents per common share for gross proceeds of $1,915,000. Other than the offering, there are no material changes to the information contained in the default announcement. In addition: (i) the company is satisfying and confirms that it intends to continue to satisfy the provisions of the alternative information guidelines under NP 12-203 and issue biweekly default status reports for so long as the delay in filing the interim filings is continuing, each of which will be issued in the form of a press release; (ii) the company does not have any information at this time regarding any anticipated specified default subsequent to the default in filing the interim filings; (iii) the company is not subject to any insolvency proceedings; and (iv) there is no material information concerning the affairs of the company that has not been generally disclosed.

About Helix BioPharma Corp.

Helix BioPharma is a clinical-stage biopharmaceutical company developing unique therapies in the field of immune-oncology for the prevention and treatment of cancer based on its proprietary technological platform DOS47. Helix is listed on the Toronto Stock Exchange under the symbol HBP.

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