Mr. Robert Steen reports

PHARMADRUG INC. ANNOUNCES PROPOSED NON-BROKERED PRIVATE PLACEMENT

Pharmadrug Inc. has arranged a proposed non-brokered private placement offering of units to raise total gross proceeds of up to $326,000.

Pursuant to the offering, the company will issue up to 6.52 million units at a purchase price of five cents per unit for aggregate gross proceeds of up to $326,000. Each unit will comprise one common share in the capital of the company and one-half of one common share purchase warrant. Each warrant will entitle the holder to purchase one additional common share at an exercise price of 10 cents at any time up to 24 months following issuance of the warrant.

Proceeds will be used for general corporate purposes.

Certain insiders of the company may participate in the proposed offering. If there is participation by insiders, the company will be issuing securities to purchasers that are considered related parties (within the meaning of Multilateral Instrument 61-101, Protection of Minority Security Holders in Special Transactions), making the applicable offering a related party transaction (within the meaning of MI 61-101). If such sales are completed the company will be exempt from obtaining a formal valuation for and minority approval of the related party subscriptions pursuant to sections 5.5(b) and 5.7(1)(a) of MI 61-101, respectively.

About Pharmadrug Inc.

Pharmadrug is a specialty pharmaceutical company focused on the research, development and commercialization of controlled substances and natural medicines such as psychedelics and previously approved drugs. Pharmadrug owns 51 per cent of Sairiyo Therapeutics, a biotechnology company that specializes in researching and reformulating established natural medicines with a goal of bringing them through clinical trials and the associated regulatory approval process in the United States and Europe. Sairiyo is currently developing its patented reformulation of cepharanthine, a drug that has shown substantial third party validated potential for the treatment of infectious disease and rare cancers. Pharmadrug also owns 100 per cent of SecureDose Synthetics Inc., a pharmaceutical research and development company focused on the development of synthetic formulations of currently existing drugs for potential commercialization and distribution.

We seek Safe Harbor.