Mr. Sebastien Plouffe reports

DEFENCE ANNOUNCES ADDITIONAL AND FINAL EXERCISES OF WARRANTS FOR GROSS PROCEEDS OF OVER $2.3 MILLION

In addition to the previously announced proceeds of $5,494,375 on March 17, 2023, Defence Therapeutics Inc. has received additional proceeds in the aggregate amount of $2,308,625 from the exercise of warrants, pursuant to an early warrant exercise program.

As final part of the early warrant exercise program, 1,846,900 common share purchase warrants issued by the company on Dec. 24, 2020, have been exercised at an exercise price of $1.25 per share for gross proceeds of $2,308,625 under the early warrant exercise program. The final exercises conclude the early warrant exercise program.

Canaccord Genuity Corp. was compensated with a cash fee equal to 5 per cent of the total gross proceeds raised from the exercise of the warrants and was issued compensation warrants exercisable at $4 per share for a period of two years from the date of issuance. The company paid Canaccord an aggregate cash fee of $115,431 and issued to Canaccord a total of 92,345 compensation warrants, equal to 5 per cent of the total number of warrants exercised from the final exercises of the early warrant exercise program.

The company currently has outstanding 43,675,674 shares, 1,497,780 share purchase warrants exercisable at $2.50 per share, 632,120 finder share purchase warrants exercisable ranging from 15 cents to $4 per share, 1.6 million stock options exercisable ranging from $1.25 to $2.90 per share for a total of 47,405,574 shares outstanding on a fully diluted basis.

About Defence Therapeutics Inc.

Defence is a publicly traded biotechnology company, working on engineering the next-generation vaccines and ADC products using its proprietary platform. The core of the Defence platform is the Accum technology, which enables precision delivery of vaccine antigens or ADCs in their intact form to target cells. As a result, increased efficacy and potency can be reached against catastrophic illness such as cancer and infectious diseases.

We seek Safe Harbor.