LSL LSL Pharma Group Inc

LSL PHARMA GROUP INC. (TSXV: LSL) (the "Corporation" or "LSL Pharma "), a Canadian integrated pharmaceutical company, today announced the upsizing of its previously communicated non-brokered private placement financing of Units (as defined hereinafter) to maximum gross proceeds of $7.5 million (188 750 000 Units) (the “Financing”). The upsizing follows an initial first closing of $2.68 million announced on March 18, 2024 concurrent to conversion of debt into units for $3.75 million.

Each Unit to be issued pursuant to the Financing will be at a price of $0.40 (the “Units”) and will consist of one (1) class A share of the Corporation (a “Common Share”) and one (1) Common Share purchase warrant (a “Warrant”). Each Warrant will entitle the holder, subject to adjustments in certain cases, to purchase one (1) Common Share (a “Warrant Share”) at a price of $0.70 for a period of 36 months following the closing of the Financing.

Although the Financing is non-brokered, the Corporation may pay finders’ fees of up to 5% of the gross proceeds raised from investors introduced to the Corporation by a finder, payable in cash; and finders’ warrants of up to 5% of the number of Units issued to investors introduced to the Corporation by a finder. Each Finder’s Warrant will entitle the holder, subject to adjustments in certain cases, to purchase one (1) Common Share at a price of $0.70 for a period of 18 months following the closing of the Financing (the “Finder’s Warrants”).

Each Unit, Common Share, Warrant, Warrant Share, Finder’s Warrant and Common Share issued upon the exercise of the Finder’s Warrant will be subject to a four month hold period under the applicable securities laws. The Financing and the Units for Debts are subject to the regulatory approvals, including the TSX Venture Exchange.

INVESTOR RELATIONS

As announced on October 6, 2023, LSL Pharma had engaged Relations Publiques Paradox Inc. (“Paradox”) to provide investor relations services on its behalf. LSL Pharma wishes to confirm that at the time of its appointment, Paradox was an arm's length party to LSL Pharma. The directors of Paradox are Jean-François Meilleur, acting President, Carl Desjardins and Karl Mansour. Paradox Équité Partenaires Ltée, itself controlled by Gestion Jean-François Meilleur Inc., Gestion Carl Desjardins Inc. and Gestion Karl Mansour Inc., is the majority shareholder of Paradox. Jean-François Meilleur, Carl Desjardins and Karl Mansour were the persons providing the services to LSL Pharma. Paradox's head office is situated at 306, Sherbrooke Street East, 1st floor, Montréal, Québec. At the time of his appointment, with the exception of a holding of less than 2% of the shares issued and outstanding on a non-diluted and diluted basis, Paradox had no other participation, direct or indirect, in LSL Pharma or its securities, nor the right or the intention to acquire additional participation. Otherwise, Paradox's monthly fees were payable from LSL Pharma's cash and cash equivalents. The contract with Paradox was terminated on January 31, 2024.

CAUTION REGARDING FORWARD-LOOKING STATEMENTS

This press release may contain forward-looking statements as defined under applicable Canadian securities legislation. Forward-looking statements can generally be identified by the use of forward-looking terminology such as "may", "will", "expect", "intend", "estimate", "continue" or similar expressions. Forward-looking statements are based on a number of assumptions and are subject to various known and unknown risks and uncertainties, many of which are beyond the Corporation's ability to control or predict, that could cause actual results or performance to differ materially from those expressed or implied in such forward-looking statements. These risks and uncertainties include, but are not limited to, those identified in the Corporation's filings with Canadian securities regulatory authorities, such as legislative or regulatory developments, increased competition, technological change, and general economic conditions. All forward-looking statements made herein should be read in conjunction with such documents.

Readers are cautioned not to place undue reliance on forward-looking statements. No assurance can be given that any of the events referred to in the forward-looking statements will transpire, and if any of them do, the actual results, performance or achievements of the Corporation may differ materially from those expressed or implied by the forward-looking statements. All forward-looking statements contained in this press release speak only as of the date of this press release. The Corporation does not undertake to update these forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

ABOUT LSL PHARMA GROUP INC.

LSL Pharma is an integrated Canadian pharmaceutical company specializing in the development, manufacturing and commercialization of high-quality sterile ophthalmic pharmaceuticals, as well as natural health products in solid dosage forms. For further information, please visit the following websites www.groupelslpharma.com.

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

CONTACT

François Roberge, President and Chief Executive Officer
Telephone: (514) 664-7700
E-mail: Investors@groupelslpharma.com