Mr. Robert Steen reports

PHARMADRUG INC. ANNOUNCES SUCCESSFUL CLOSING OF NON-BROKERED PRIVATE PLACEMENT

Pharmadrug Inc. has closed its previously announced non-brokered private placement, raising total gross proceeds of $326,000.

Pursuant to the offering, the company issued 6.52 million units at a purchase price of five cents per unit for aggregate gross proceeds of up to $326,000. Each unit is composed of one common share in the capital of the company and one-half of one common share purchase warrant. Each warrant entitles the holder to purchase one additional common share at an exercise price of 10 cents at any time up to Feb. 8, 2026.

Proceeds will be used for general corporate purposes.

The securities issued pursuant to the offering are subject to a hold period of four months and one day that expires on June 9, 2024.

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 biotech 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.