Aequus Pharmaceuticals Inc. (TSX-V: AQS, OTCQB: AQSZF), ) (“Aequus” or the “Company”), a specialty pharmaceutical company announces the pause of sales of its Evolve Intensive eyedrop and Intensive gel products in Canada.

The manufacturer, Medicom Healthcare (UK), is in the process of changing its MDSAP provider. The switch was necessitated by the existing Notified Body being unable to offer all relevant global certifications. Until this process is completed, Aequus Pharmaceuticals will pause sales of the class leading Evolve® range of products in the Canadian market. We look forward to Evolve® returning to patients in Canada as soon as MDSAP Certification is issued.

Aequus and Medicom Healthcare assure valued customers and eyecare professionals that the Evolve® Intensive eyedrops and gel will return to the Canadian market soon. The Company remains steadfast in its commitment to delivering innovative solutions that enhance the well-being of patients across Canada.

For more information, please visit www.aequuspharma.ca

About Aequus Pharmaceuticals

Aequus Pharmaceuticals Inc. (TSX-V: AQS, OTCQB: AQSZF) is a growing specialty pharmaceutical company focused on developing and commercializing high quality, differentiated products. Aequus, founded in 2015, has successfully grown multiple products and brands in strategic therapeutic areas including Ophthalmology, Optometry, Transplant and Rare Disease. Aequus plans to build on its Canadian commercial platform through the application of sales, marketing and expert knowledge of the Canadian marketplace utilizing internal development, acquisition, or licenses with preferred strategic partners. For further information, please visit www.aequuspharma.ca.

Forward-Looking Statements:

This release may contain forward-looking statements or forward-looking information under applicable Canadian securities legislation that may not be based on historical fact, including, without limitation, statements containing the words “believe”, “may”, “plan”, “will”, “estimate”, “continue”, “anticipate”, “intend”, “expect”, “potential” and similar expressions. Forward- looking statements are necessarily based on estimates and assumptions made by us in light of our experience and perception of historical trends, current conditions and expected future developments, as well as the factors we believe are appropriate. Forward-looking statements include but are not limited to statements relating to: the implementation of our business model and strategic plans; revenue growth trends into the future; expected timing for product launches; the Company’s expected revenues; the regulatory approval of its products; the Company’s ability to attract international partners; and ongoing discussions with and the Company’s ability to secure potential partners to further grow our product portfolio. Such statements reflect our current views with respect to future events and are subject to risks and uncertainties and are necessarily based upon a number of estimates and assumptions that, while considered reasonable by Aequus, are inherently subject to significant business, economic, competitive, political and social uncertainties and contingencies. Many factors could cause our actual results, performance, or achievements to be materially different from any future results, performance, or achievements that may be expressed or implied by such forward-looking statements. In making the forward looking statements included in this release, the Company has made various material assumptions, including, but not limited to: obtaining regulatory approvals; general business and economic conditions; the Company’s ability to successfully out license or sell its current products and in-license and develop new products; the assumption that the Company’s current good relationships with third parties will be maintained; the availability of financing on reasonable terms; the Company’s ability to attract and retain skilled staff; market competition; the products and technology offered by the Company’s competitors; the impact of the coronavirus (COVID-19) on the Company’s operations; and the Company’s ability to protect patents and proprietary rights. In evaluating forward looking statements, current and prospective shareholders should specifically consider various factors set out herein and under the heading “Risk Factors” in the Company’s Annual Information Form dated May 1, 2023, a copy of which is available on Aequus’ profile on the SEDAR website at www sedarplus.ca, and as otherwise disclosed from time to time on Aequus’ SEDAR profile. Should one or more of these risks or uncertainties, or a risk that is not currently known to us materialize, or should assumptions underlying those forward-looking statements prove incorrect, actual results may vary materially from those described herein. These forward-looking statements are made as of the date of this release and we do not intend, and do not assume any obligation, to update these forward-looking statements, except as required by applicable securities laws. Investors are cautioned that forward-looking statements are not guarantees of future performance and are inherently uncertain. Accordingly, investors are cautioned not to put undue reliance on forward looking statements.

Contact Information:

Aequus Investor RelationsEmail: investors@aequuspharma.caPhone: 604-336-7906

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX-V) accepts responsibility for the adequacy or accuracy of this news release.

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