Dr. Raza Bokhari reports

MEDICUS PHARMA LTD. ANNOUNCES COMMENCEMENT OF TRADING ON TSX VENTURE EXCHANGE AND APPOINTMENT OF SEASONED PHARMA EXECUTIVE BARRY FISHMAN TO THE BOARD OF DIRECTORS

Medicus Pharma Ltd. will commence trading on the TSX Venture Exchange on Oct. 11, 2023. The initial trading price is $2.75.

The company also announced that Barry Fishman, a seasoned pharma executive, has joined the company's board of directors as an independent director. Mr. Fishman was recently appointed as chief corporate development officer of Apotex Inc. He has almost 25 years of experience as an entrepreneurial business leader, most recently as chief executive officer of VIVO Cannabis Inc. Prior to joining VIVO, Mr. Fishman served as CEO of international specialty pharmaceutical company Merus Labs, through its 2017 acquisition by Norgine MV. Mr. Fishman also previously served as CEO of Teva Canada and vice-president of marketing at Eli Lilly Canada. He has also recently served as an independent director on several high-profile boards, including Aurora Cannabis Inc. and Canopy Growth Corp. Mr. Fishman graduated from McGill University with a concentration in finance and went on to become a CPA while working for Deloitte in Southern California.

"Listing on the TSX Venture Exchange is a momentous first step in our 1,000-mile journey pursuing pharma research and development of novel therapies," said Dr. Raza Bokhari, executive chairman and chief executive officer. "We are very excited to welcome Barry Fishman to our board of directors. It is needless to state that his experience and expertise is a remarkable addition to our board of directors, which also includes former CEOs of Siemens Medical, ParenteBeard Baker Tilly, Temple Health System and a former senior executive of Amgen."

The company has retained Stockhouse Publishing Ltd. and Hybrid Financial Ltd. to increase market and brand awareness for Medicus, and to broaden Medicus's reach within the investment community. Subject to the TSX Venture Exchange's approval, the company has also retained Generation IACP Inc. to provide market making services with the objective of maintaining a reasonable market and improving the liquidity of Medicus's common shares.

Stockhouse, Hybrid and General IACP are retained by Medicus pursuant to the following terms:

• Stockhouse has been engaged for a period of six months starting on Oct. 1, 2023. Stockhouse will be paid a monthly fee of $10,000, plus applicable taxes, during the term of the engagement.
• Hybrid has been engaged for a period of six months starting on Oct. 10, 2023. Hybrid will be paid a monthly fee of $15,000, plus applicable taxes, during the term of the engagement.
• Generation IACP has been engaged (subject to the TSX Venture Exchange's approval) for a period of six months starting on Oct. 10, 2023. Generation IACP will be paid a monthly fee of $7,500, plus applicable taxes, during the term of the engagement.

Medicus has had no prior relationship with Stockhouse, Hybrid or Generation IACP, and to Medicus's knowledge, none of Stockhouse, Hybrid and Generation IACP owns or controls, directly or indirectly, any securities of Medicus.

The company's board of directors has also approved provisionally the issuance to the company's directors, officers and advisers of options to buy an aggregate of up to 1,625,000 of the company's common shares, at a price to be determined in accordance with the policies of the TSX Venture Exchange. The options will be issued in accordance with the company's stock option plan and subject to vesting terms.

About Medicus Pharma Ltd.

Medicus Pharma is a clinical-stage, multistrategy holding company focused on investing in and accelerating novel life sciences and bio-technology companies through FDA-approved clinical trials.

Through its diverse experience and extensive industry network, the company is building Medicus into a leading pharmaceutical holding company, committed to delivering better treatment outcomes, and alleviating pain and suffering. Utilizing a thesis-driven collaborative process, Medicus identifies, acquires and advances relatively derisked clinical-stage assets through clinical development and commercialization.

Medicus Pharma looks into opportunities across all therapeutics areas where an unmet need exists for improved patient safety and efficacy. Medicus is actively exploring to expand its drug development pipeline through qualified and accretive acquisitions and partnerships.

We seek Safe Harbor.