Mr. Francois Roberge reports

LSL PHARMA GROUP ANNOUNCES A COMBINATION OF PRIVATE PLACEMENTS FOR MAXIMUM AGGREGATE GROSS PROCEEDS OF $8 MILLION

LSL Pharma Group Inc. has launched a non-brokered private placement financing of units (as defined hereinafter) for minimum gross proceeds of $2.5-million and a maximum of $3.5-million and that it is conducting discussions with certain creditors to settle debts in units for an aggregate amount ranging from a minimum of $2.5-million and a maximum of $4.5-million.

The units for debts is conducted in parallel to the financing to strengthen the corporation's balance sheet and to dedicate the proceeds from the financing mainly to further expand production capacity at each of the LSL laboratories and Steri-Med Pharma plants and for general working capital purposes.

Each unit to be issued pursuant to the financing and the units for debts will be at a price of 40 cents per unit and will consist of one Class A share of the corporation and one common share purchase warrant. each warrant will entitle the holder, subject to adjustments in certain cases, to purchase one common share at a price of 70 cents for a period of 36 months following the closing of the financing.

Although the financing is non-brokered, the corporation may pay finders' fees of up to 5 per cent of the gross proceeds raised from investors introduced to the corporation by a finder, payable in cash; and finders' warrants of up to 5 per cent of the number of units issued to investors introduced to the corporation by a finder. Each finder's warrant will entitle the holder, subject to adjustments in certain cases, to purchase one common share at a price of 70 cents for a period of 18 months following the closing of the financing.

Each issued unit, common share, warrant, warrant share, finder's warrant and common share issued upon the exercise of the finder's warrant will be subject to a four-month hold period under the applicable securities laws. The financing and the units for debts are subject to the regulatory approvals, including the TSX Venture Exchange.

The corporation also confirms that the previously announced $5-million convertible debenture offering launched on Sept. 21, 2023, is hereby terminated.

About LSL Pharma Group Inc.

LSL Pharma is an integrated Canadian pharmaceutical company specializing in the development, manufacturing and commercialization of high-quality sterile ophthalmic pharmaceuticals, as well as natural health products in solid dosage forms.

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