Mr. Mariusz Olejniczak reports

WPD ANNOUNCES RECORD DATE OF SHARE CONSOLIDATION OF COMMON SHARES

Effective Dec. 30, 2024, the common shares of WPD Pharmaceuticals Inc. will be consolidated on the basis of one postconsolidation share for every 25 preconsolidation shares. The record date of the consolidation will be Dec. 30, 2024. There will be no name change in conjunction with the consolidation. The company's common shares will continue to trade on the Canadian Securities Exchange under the existing stock symbol WBIO.

As stated in the company's news release dated Dec. 3, 2024, the consolidation is intended to increase the company's flexibility and make the company's securities more attractive to potential investors and other interested parties. The board of directors believes that the consolidation is in the best interest of shareholders of the company.

The company currently has 115,987,137 common shares issued and outstanding. Following the consolidation, the company will have approximately 4,639,485 common shares issued and outstanding. No fractional common shares will be issued pursuant to the consolidation and no cash consideration will be paid in respect of fractional shares. The company will round any fractional shares resulting from the consolidation down to the nearest whole share.

A letter of transmittal will be mailed to registered shareholders advising that: (i) the consolidation has taken effect; and (ii) shareholders should surrender their existing share certificates (representing preconsolidation shares) for replacement share certificates (representing postconsolidation shares). Until surrendered, each existing share certificate will be deemed, for all purposes, to represent the number of common shares to which the shareholder is entitled as a result of the consolidation.

At the annual general and special meeting on Aug. 7, 2024, the company's shareholders approved the consolidation.

We seek Safe Harbor.