Dr. Isa Odidi reports

INTELLIPHARMACEUTICS ANNOUNCES CEASE TRADE ORDER

The Ontario Securities Commission (the OSC) has issued IntelliPharmaCeutics International Inc. a general failure-to-file cease trade order pursuant to National Policy 11-103 -- Failure to File Cease Trade Orders in Multiple Jurisdictions (the CTO) dated March 5, 2024, in respect of the securities of the company as a result of the company's inability to file its annual audited financial statements, management's discussion and analysis, chief executive officer and chief financial officer certificates, and annual information form for the fiscal year ended Nov. 30, 2023, due Feb. 28, 2024.

The CTO prohibits the trading, whether direct or indirect, by any person of any securities of the company in each jurisdiction in Canada in which the company is a reporting issuer for as long as the CTO remains in effect; however, the CTO provides an exception for beneficial securityholders of the company who are not (and who were not as of March 5, 2024) insiders or control persons of the company and who sell securities of the company acquired before March 5, 2024, if both of the following criteria are met: (i) the sale is made through a foreign organized regulated market, as defined in Section 1.1 of the universal market integrity rules of the Canadian Investment Regulatory Organization, and (ii) the sale is made through an investment dealer registered in a jurisdiction of Canada in accordance with applicable securities legislation.

The company will continue to work to file the required filings. There is no assurance that the company will be able to remedy its filing default and have the CTO revoked in a timely manner or at all. The company will issue a further news release when the required filings have been made.

About IntelliPharmaCeutics International Inc.

IntelliPharmaCeutics is a pharmaceutical company specializing in the research, development and manufacture of novel and generic controlled-release and targeted-release oral solid dosage drugs. The company's patented Hypermatrix technology is a multidimensional controlled-release drug delivery platform that can be applied to a wide range of existing and new pharmaceuticals.

We seek Safe Harbor.