Cease trade order

A cease trade order was issued by the Ontario Securities Commission on March 5, 2024, against the company for failing to file its audited annual financial statements for the year ended Nov. 30, 2023, the management's discussion and analysis for the year ended Nov. 30, 2023, the annual information form for the year ended Nov. 30, 2023, and the certification of the foregoing filings.

Upon revocation of the cease trade order, the company's shares will remain suspended until the company meets NEX requirements. Members are prohibited from trading in the securities of the company during the period of the suspension or until further notice.

New listing -- shares, transfer and new addition to the NEX

Effective at the opening, March 26, 2024, the shares of the company will be listed on the NEX but remain subject to a trading suspension.

The company will be delisted from trading on the Toronto Stock Exchange effective at the close of business on March 25, 2024.

As of March 26, 2024, the company is subject to restrictions on share issuances and certain types of payments as set out in the NEX policies.

The trading symbol for the company will change from IPCI to IPCI.H. There is no change in the company's name, no change in its Cusip number and no consolidation of capital. The symbol extension differentiates NEX symbols from Tier 1 or Tier 2 symbols within the TSX Venture Exchange market.

The company is classified as a pharmaceutical and medicinal products company (NAICS 27311).

Corporate jurisdiction:  Canada

Capitalization:  unlimited number of common shares with no par value, of which 33,092,665 common shares are issued and outstanding

Escrowed shares:  nil shares

Transfer agent:  TSX Trust Company

Trading symbol:  IPCI.H

Cusip No.:  458173 30 9