Ms. Elizabeth Williams reports

MEDICENNA EXTENDS PERIOD TO EXERCISE CERTAIN WARRANTS

Medicenna Therapeutics Corp. has received conditional approval from the Toronto Stock Exchange to extend the expiry date of a total of 1,549,052 outstanding common share purchase warrants of the company originally issued on Oct. 17, 2019, as part of a public offering of units of the company. Each warrant is exercisable for a common share of the company at a price of $1.75 per common share and set to expire on July 17, 2023.

The company has extended the expiry date of such warrants until Oct. 17, 2024, with such extension being effective on July 17, 2023. All other terms of the warrants, including the exercise price, remain unchanged. None of the outstanding warrants are held by insiders.

About Medicenna Therapeutics Corp.

Medicenna is a clinical-stage immunotherapy company focused on the development of novel, highly selective versions of IL-2, IL-4 and IL-13 superkines and first-in-class empowered superkines. Medicenna's long-acting IL-2 superkine, MDNA11, is a next-generation IL-2 with superior CD122 (IL-2 receptor beta) binding without CD25 (IL-2 receptor alpha) affinity, thereby preferentially stimulating cancer-killing effector T cells and NK cells. Medicenna's early-stage BiSKITs program (bifunctional superkine immunotherapies) is designed to enhance the ability of superkines to treat immunologically cold tumours. Medicenna's IL-4 empowered superkine, bizaxofusp (formerly MDNA55), has been studied in five clinical trials, including a phase 2b trial for recurrent GBM, the most common and uniformly fatal form of brain cancer. Bizaxofusp has obtained fast-track and orphan drug status from the Food and Drug Administration and FDA/European Medicines Agency, respectively.

We seek Safe Harbor.