<SEC-DOCUMENT>0001062993-25-014831.txt : 20250822
<SEC-HEADER>0001062993-25-014831.hdr.sgml : 20250822
<ACCEPTANCE-DATETIME>20250822165056
ACCESSION NUMBER:		0001062993-25-014831
CONFORMED SUBMISSION TYPE:	253G2
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20250822
DATE AS OF CHANGE:		20250822

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Medicus Pharma Ltd.
		CENTRAL INDEX KEY:			0001997296
		STANDARD INDUSTRIAL CLASSIFICATION:	PHARMACEUTICAL PREPARATIONS [2834]
		ORGANIZATION NAME:           	03 Life Sciences
		EIN:				981778211
		STATE OF INCORPORATION:			A6
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		253G2
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	024-12573
		FILM NUMBER:		251246941

	BUSINESS ADDRESS:	
		STREET 1:		300 CONSHOHOCKEN STATE RD.
		STREET 2:		SUITE 200
		CITY:			W. CONSHOHOCKEN
		STATE:			PA
		ZIP:			19428
		BUSINESS PHONE:		610-540-7515

	MAIL ADDRESS:	
		STREET 1:		300 CONSHOHOCKEN STATE RD.
		STREET 2:		SUITE 200
		CITY:			W. CONSHOHOCKEN
		STATE:			PA
		ZIP:			19428
</SEC-HEADER>
<DOCUMENT>
<TYPE>253G2
<SEQUENCE>1
<FILENAME>form253g2.htm
<DESCRIPTION>FORM 253G2
<TEXT>
<html>

<head>
    <title>Medicus Pharma Ltd.: Form 253G2 - Filed by newsfilecorp.com</title>
</head>

<body style="font-size:10pt; font-family:'Times New Roman';">
    <hr width="100%" size="3" color="black" noshade="noshade"><a name="page_1"></a>
    <p style="margin-bottom: 0pt; text-align: right; background-color: #ffffff; margin-top: 10pt;"><b>Filed Pursuant to Rule 253(g)(2)</b></p>
    <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: right; background-color: #ffffff;"><b>File No. 024-12573</b></p>
    <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: justify; background-color: #ffffff;"><b>OFFERING CIRCULAR SUPPLEMENT NO. 13</b></p>
    <p style="margin-top: 0pt; text-align: justify; background-color: #ffffff; margin-bottom: 10pt;"><b>(to the offering circular dated April 10, 2025)</b></p>
    <p style="margin-bottom: 0pt; text-align: center; background-color: #ffffff; margin-top: 10pt;"><font style="font-size: 12pt;"><b>Medicus Pharma Ltd.</b></font></p>
    <p style="margin-top: 0pt; text-align: center; margin-bottom: 10pt;"><font style="font-size: 12pt;"><b>1,490,000 Common Shares Issuable upon the Exercise of Warrants</b></font></p>
    <hr style="height: 1px; background-color: #000000; border: none;">
    <p style="text-align: justify; background-color: #ffffff; margin-top: 10pt; margin-bottom: 10pt;">This offering circular supplement amends and supplements the offering circular dated qualified April 10, 2025, as supplemented or amended from time to time (the "Offering Circular"), which forms a part of our Offering Statement on Form 1-A (File No. 024-12573). This offering circular supplement is being filed to update and supplement the information included or incorporated by reference in the Offering Circular with the information contained in our Current Report on Form 8-K, filed with the Securities and Exchange Commission on August 22, 2025 (the "Form 8-K"). Accordingly, we have attached the Form 8-K to this offering circular supplement.</p>
    <p style="text-align: justify; background-color: #ffffff; margin-top: 10pt; margin-bottom: 10pt;">This offering circular supplement updates and supplements the information in the Offering Circular and is not complete without, and may not be delivered or utilized except in combination with, the Offering Circular, including any amendments or supplements thereto. This offering circular supplement should be read in conjunction with the Offering Circular and if there is any inconsistency between the information in the Offering Circular and this offering circular supplement, you should rely on the information in this offering circular supplement.</p>
    <p style="text-align: justify; background-color: #ffffff; margin-top: 10pt; margin-bottom: 10pt;">Our common shares and warrants, with an exercise price of $4.64 and expiration date of November 15, 2029 (the "Public Warrants"), are listed on The Nasdaq Capital Market ("Nasdaq") under the symbols "MDCX" and "MDCXW," respectively. On August 21, 2025, the last reported sales prices of the common shares and Public Warrants were $2.45 and $0.93, respectively.</p>
    <p style="text-align: justify; background-color: #ffffff; margin-top: 10pt; margin-bottom: 10pt;"><b>We are an "emerging growth company" under applicable Securities and Exchange Commission rules and are eligible for reduced public company disclosure requirements.</b></p>
    <p style="text-align: justify; background-color: #ffffff; margin-top: 10pt; margin-bottom: 10pt;"><b>Investing in our securities involves a high degree of risk. You should review carefully the risks and uncertainties described under the heading "Risk Factors" beginning on page 10 of the Offering Circular, and under similar headings in any amendment or supplements to the Offering Circular.</b></p>
    <p style="text-align: justify; background-color: #ffffff; margin-top: 10pt; margin-bottom: 10pt;"><b>Neither the Securities and Exchange Commission nor any state securities commission has approved or disapproved of the securities offered by this offering circular supplement or the Offering Circular or determined if the Offering Circular or this offering circular supplement is truthful or complete. Any representation to the contrary is a criminal offense.</b></p>
    <p style="text-align: center; background-color: #ffffff; margin-top: 10pt; margin-bottom: 10pt;"><b>The date of this offering circular supplement is August 22, 2025.</b></p>
    <hr style="page-break-after: always; text-align: center;" width="100%" size="5" color="black" noshade="noshade"><a name="page_2"></a>
    <div style="font-family: Times New Roman; font-size: 10pt;">
        <p style="text-align: center; margin-top: 10pt; margin-bottom: 10pt;"><font style="font-size: 18pt;"><b>UNITED STATES</b></font><br><font style="font-size: 18pt;"><b>SECURITIES AND EXCHANGE COMMISSION</b></font><br>Washington, D.C. 20549<br><b>___________________________</b></p>
        <p style="text-align: center; margin-top: 10pt; margin-bottom: 10pt;"><font style="font-size: 18pt;"><b>FORM 8-K</b></font></p>
        <p style="text-align: center; margin-top: 10pt; margin-bottom: 10pt;"><b>CURRENT REPORT</b><br><b>Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934</b></p>
        <p style="text-align: center; margin-top: 10pt; margin-bottom: 10pt;">Date of Report (Date of earliest event reported): <b><u>August 21, 2025</u></b></p>
        <p style="text-align: center; margin-top: 10pt; margin-bottom: 10pt;"><font style="font-size: 18pt;"><b><u>MEDICUS PHARMA LTD.</u></b></font><br>(Exact name of registrant as specified in its charter)</p>
        <table style="border-color: black; width: 100%; font-size: 10pt; border-collapse: collapse;">
            <tr style="vertical-align: top;">
                <td style="text-align: center;"><b><u>Ontario</u></b></td>
                <td style="width: 33%; text-align: center;"><b><u>001-42408</u></b></td>
                <td style="width: 33%; text-align: center;"><b><u>98-1778211</u></b></td>
            </tr>
            <tr style="vertical-align: top;">
                <td style="text-align: center;">(State or other jurisdiction</td>
                <td style="width: 33%; text-align: center;">(Commission</td>
                <td style="width: 33%; text-align: center;">(IRS Employer</td>
            </tr>
            <tr style="vertical-align: top;">
                <td style="text-align: center;">of incorporation)</td>
                <td style="width: 33%; text-align: center;">File Number)</td>
                <td style="width: 33%; text-align: center;">Identification No.)</td>
            </tr>
        </table>
        <p style="text-align: center; margin-top: 10pt; margin-bottom: 10pt;">3<b>00 Conshohocken State Road, Suite 200</b><br><b><u>Conshohocken, Pennsylvania, United States 19428</u></b><br>(Address of principal executive offices) (ZIP Code)</p>
        <p style="text-align: center; margin-top: 10pt; margin-bottom: 10pt;">Registrant&#8217;s telephone number, including area code: <b><u>(610) 540-7515</u></b></p>
        <p style="text-align: justify; margin-top: 10pt; margin-bottom: 10pt;">Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:</p>
        <p style="text-align: justify; margin-top: 10pt; margin-bottom: 10pt;">&#9744; Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</p>
        <p style="text-align: justify; margin-top: 10pt; margin-bottom: 10pt;">&#9744; Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</p>
        <p style="text-align: justify; margin-top: 10pt; margin-bottom: 10pt;">&#9744; Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</p>
        <p style="text-align: justify; margin-top: 10pt; margin-bottom: 10pt;">&#9744; Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</p>
        <p style="margin-top: 10pt; margin-bottom: 10pt;">Securities registered pursuant to Section 12(b) of the Act:</p>
        <table style="border-color: black; width: 100%; font-size: 10pt; border-collapse: collapse;">
            <tr style="vertical-align: top;">
                <td style="text-align: center; border-bottom-color: currentColor; border-bottom-width: 1px; border-bottom-style: solid;"><b>Title of each class</b></td>
                <td style="width: 5%;">&#160;</td>
                <td style="width: 30%; text-align: center; border-bottom-color: currentColor; border-bottom-width: 1px; border-bottom-style: solid;"><b>Trading Symbols</b></td>
                <td style="width: 5%;">&#160;</td>
                <td style="width: 30%; text-align: center; border-bottom-color: currentColor; border-bottom-width: 1px; border-bottom-style: solid;"><b>Name of each exchange on which registered</b></td>
            </tr>
            <tr style="vertical-align: top;">
                <td style="text-align: center;">Common shares, no par value</td>
                <td style="width: 5%;">&#160;</td>
                <td style="width: 30%; text-align: center;">MDCX</td>
                <td style="width: 5%;">&#160;</td>
                <td style="width: 30%; text-align: center;">NASDAQ Capital Market</td>
            </tr>
            <tr style="vertical-align: top;">
                <td style="text-align: center;">Warrants, each exercisable for one common share at an exercise price of $4.64 per share</td>
                <td style="width: 5%;">&#160;</td>
                <td style="width: 30%; text-align: center;">MDCXW</td>
                <td style="width: 5%;">&#160;</td>
                <td style="width: 30%; text-align: center;">NASDAQ Capital Market</td>
            </tr>
        </table>
        <p style="text-align: justify; margin-top: 10pt; margin-bottom: 10pt;">Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (&#167; 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (&#167; 240.12b -2 of this chapter).</p>
        <p style="text-align: justify; margin-top: 10pt; margin-bottom: 10pt;">Emerging growth company &#9745;</p>
        <p style="text-align: justify; margin-top: 10pt; margin-bottom: 10pt;">If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. &#9744;</p>
        <hr style="page-break-after: always; text-align: center;" width="100%" size="5" color="black" noshade="noshade"><a name="page_3"></a>
        <p style="text-align: justify; margin-top: 10pt; margin-bottom: 10pt;"><b>Item 3.02. Unregistered Sales of Equity Securities.</b></p>
        <p style="text-align: justify; text-indent: 36pt; margin-top: 10pt; margin-bottom: 10pt;">Pursuant to the previously disclosed Standby Equity Purchase Agreement (the "SEPA"), dated February 10, 2025, between Medicus Pharma Ltd. (the "Company") and YA II PN, Ltd. ("Yorkville"), the Company completed sales of its common shares (the "Common Shares") to Yorkville (collectively, the "SEPA Advances") as disclosed in the table below:</p>
        <table style="border: 0.75pt solid #000000; width: 100%; font-size: 10pt; border-collapse: collapse;" cellspacing="0" cellpadding="0">
            <tr>
                <td style="width: 25%; text-align: center; padding-right: 5.03pt; padding-left: 5.03pt; vertical-align: middle; border-right-color: #000000; border-bottom-color: #000000; border-right-width: 0.75pt; border-bottom-width: 0.75pt; border-right-style: solid; border-bottom-style: solid; white-space: nowrap;"><b>Date of Sale</b></td>
                <td style="width: 25%; text-align: center; padding-right: 5.03pt; padding-left: 5.03pt; vertical-align: middle; border-right-color: #000000; border-bottom-color: #000000; border-left-color: #000000; border-right-width: 0.75pt; border-bottom-width: 0.75pt; border-left-width: 0.75pt; border-right-style: solid; border-bottom-style: solid; border-left-style: solid; white-space: nowrap;"><b>Number of Common<br>Shares</b></td>
                <td style="width: 25%; text-align: center; padding-right: 5.03pt; padding-left: 5.03pt; vertical-align: middle; border-right-color: #000000; border-bottom-color: #000000; border-left-color: #000000; border-right-width: 0.75pt; border-bottom-width: 0.75pt; border-left-width: 0.75pt; border-right-style: solid; border-bottom-style: solid; border-left-style: solid; white-space: nowrap;"><b>Price per share</b></td>
                <td style="width: 25%; text-align: center; padding-right: 5.03pt; padding-left: 5.03pt; vertical-align: middle; border-bottom-color: #000000; border-left-color: #000000; border-bottom-width: 0.75pt; border-left-width: 0.75pt; border-bottom-style: solid; border-left-style: solid; white-space: nowrap;"><b>Approximate Aggregate<br>Consideration</b></td>
            </tr>
            <tr>
                <td style="width: 25%; text-align: center; padding-right: 5.03pt; padding-left: 5.03pt; vertical-align: middle; border-top-color: #000000; border-right-color: #000000; border-bottom-color: #000000; border-top-width: 0.75pt; border-right-width: 0.75pt; border-bottom-width: 0.75pt; border-top-style: solid; border-right-style: solid; border-bottom-style: solid;">July 30, 2025</td>
                <td style="border: 0.75pt solid #000000; width: 25%; text-align: center; padding-right: 5.03pt; padding-left: 5.03pt; vertical-align: middle;">50,000</td>
                <td style="border: 0.75pt solid #000000; width: 25%; text-align: center; padding-right: 5.03pt; padding-left: 5.03pt; vertical-align: middle;">$2.8963</td>
                <td style="width: 25%; text-align: center; padding-right: 5.03pt; padding-left: 5.03pt; vertical-align: middle; border-top-color: #000000; border-bottom-color: #000000; border-left-color: #000000; border-top-width: 0.75pt; border-bottom-width: 0.75pt; border-left-width: 0.75pt; border-top-style: solid; border-bottom-style: solid; border-left-style: solid;">$144,815</td>
            </tr>
            <tr>
                <td style="width: 25%; text-align: center; padding-right: 5.03pt; padding-left: 5.03pt; vertical-align: middle; border-top-color: #000000; border-right-color: #000000; border-bottom-color: #000000; border-top-width: 0.75pt; border-right-width: 0.75pt; border-bottom-width: 0.75pt; border-top-style: solid; border-right-style: solid; border-bottom-style: solid;">August 12, 2025</td>
                <td style="border: 0.75pt solid #000000; width: 25%; text-align: center; padding-right: 5.03pt; padding-left: 5.03pt; vertical-align: middle;">200,000</td>
                <td style="border: 0.75pt solid #000000; width: 25%; text-align: center; padding-right: 5.03pt; padding-left: 5.03pt; vertical-align: middle;">$2.0425</td>
                <td style="width: 25%; text-align: center; padding-right: 5.03pt; padding-left: 5.03pt; vertical-align: middle; border-top-color: #000000; border-bottom-color: #000000; border-left-color: #000000; border-top-width: 0.75pt; border-bottom-width: 0.75pt; border-left-width: 0.75pt; border-top-style: solid; border-bottom-style: solid; border-left-style: solid;">$408,500</td>
            </tr>
            <tr>
                <td style="width: 25%; text-align: center; padding-right: 5.03pt; padding-left: 5.03pt; vertical-align: middle; border-top-color: #000000; border-right-color: #000000; border-bottom-color: #000000; border-top-width: 0.75pt; border-right-width: 0.75pt; border-bottom-width: 0.75pt; border-top-style: solid; border-right-style: solid; border-bottom-style: solid;">August 12, 2025</td>
                <td style="border: 0.75pt solid #000000; width: 25%; text-align: center; padding-right: 5.03pt; padding-left: 5.03pt; vertical-align: middle;">52,504</td>
                <td style="border: 0.75pt solid #000000; width: 25%; text-align: center; padding-right: 5.03pt; padding-left: 5.03pt; vertical-align: middle;">$1.94</td>
                <td style="width: 25%; text-align: center; padding-right: 5.03pt; padding-left: 5.03pt; vertical-align: middle; border-top-color: #000000; border-bottom-color: #000000; border-left-color: #000000; border-top-width: 0.75pt; border-bottom-width: 0.75pt; border-left-width: 0.75pt; border-top-style: solid; border-bottom-style: solid; border-left-style: solid;">$101,858</td>
            </tr>
            <tr>
                <td style="width: 25%; text-align: center; padding-right: 5.03pt; padding-left: 5.03pt; vertical-align: middle; border-top-color: #000000; border-right-color: #000000; border-bottom-color: #000000; border-top-width: 0.75pt; border-right-width: 0.75pt; border-bottom-width: 0.75pt; border-top-style: solid; border-right-style: solid; border-bottom-style: solid;">August 18, 2025</td>
                <td style="border: 0.75pt solid #000000; width: 25%; text-align: center; padding-right: 5.03pt; padding-left: 5.03pt; vertical-align: middle;">200,000</td>
                <td style="border: 0.75pt solid #000000; width: 25%; text-align: center; padding-right: 5.03pt; padding-left: 5.03pt; vertical-align: middle;">$1.9664</td>
                <td style="width: 25%; text-align: center; padding-right: 5.03pt; padding-left: 5.03pt; vertical-align: middle; border-top-color: #000000; border-bottom-color: #000000; border-left-color: #000000; border-top-width: 0.75pt; border-bottom-width: 0.75pt; border-left-width: 0.75pt; border-top-style: solid; border-bottom-style: solid; border-left-style: solid;">$393,280</td>
            </tr>
            <tr>
                <td style="width: 25%; text-align: center; padding-right: 5.03pt; padding-left: 5.03pt; vertical-align: middle; border-top-color: #000000; border-right-color: #000000; border-bottom-color: #000000; border-top-width: 0.75pt; border-right-width: 0.75pt; border-bottom-width: 0.75pt; border-top-style: solid; border-right-style: solid; border-bottom-style: solid;">August 18, 2025</td>
                <td style="border: 0.75pt solid #000000; width: 25%; text-align: center; padding-right: 5.03pt; padding-left: 5.03pt; vertical-align: middle;">7,150</td>
                <td style="border: 0.75pt solid #000000; width: 25%; text-align: center; padding-right: 5.03pt; padding-left: 5.03pt; vertical-align: middle;">$1.94</td>
                <td style="width: 25%; text-align: center; padding-right: 5.03pt; padding-left: 5.03pt; vertical-align: middle; border-top-color: #000000; border-bottom-color: #000000; border-left-color: #000000; border-top-width: 0.75pt; border-bottom-width: 0.75pt; border-left-width: 0.75pt; border-top-style: solid; border-bottom-style: solid; border-left-style: solid;">$13,871</td>
            </tr>
            <tr>
                <td style="width: 25%; text-align: center; padding-right: 5.03pt; padding-left: 5.03pt; vertical-align: middle; border-top-color: #000000; border-right-color: #000000; border-bottom-color: #000000; border-top-width: 0.75pt; border-right-width: 0.75pt; border-bottom-width: 0.75pt; border-top-style: solid; border-right-style: solid; border-bottom-style: solid;">August 21, 2025</td>
                <td style="border: 0.75pt solid #000000; width: 25%; text-align: center; padding-right: 5.03pt; padding-left: 5.03pt; vertical-align: middle;">300,000</td>
                <td style="border: 0.75pt solid #000000; width: 25%; text-align: center; padding-right: 5.03pt; padding-left: 5.03pt; vertical-align: middle;">$1.9638</td>
                <td style="width: 25%; text-align: center; padding-right: 5.03pt; padding-left: 5.03pt; vertical-align: middle; border-top-color: #000000; border-bottom-color: #000000; border-left-color: #000000; border-top-width: 0.75pt; border-bottom-width: 0.75pt; border-left-width: 0.75pt; border-top-style: solid; border-bottom-style: solid; border-left-style: solid;">$589,140</td>
            </tr>
            <tr>
                <td style="width: 25%; text-align: center; padding-right: 5.03pt; padding-left: 5.03pt; vertical-align: middle; border-top-color: #000000; border-right-color: #000000; border-top-width: 0.75pt; border-right-width: 0.75pt; border-top-style: solid; border-right-style: solid;"><b>Total</b></td>
                <td style="width: 25%; text-align: center; padding-right: 5.03pt; padding-left: 5.03pt; vertical-align: middle; border-top-color: #000000; border-right-color: #000000; border-left-color: #000000; border-top-width: 0.75pt; border-right-width: 0.75pt; border-left-width: 0.75pt; border-top-style: solid; border-right-style: solid; border-left-style: solid;"><b> 809,654 </b></td>
                <td style="width: 25%; text-align: center; padding-right: 5.03pt; padding-left: 5.03pt; vertical-align: middle; border-top-color: #000000; border-right-color: #000000; border-left-color: #000000; border-top-width: 0.75pt; border-right-width: 0.75pt; border-left-width: 0.75pt; border-top-style: solid; border-right-style: solid; border-left-style: solid;">&#160;</td>
                <td style="width: 25%; text-align: center; padding-right: 5.03pt; padding-left: 5.03pt; vertical-align: middle; border-top-color: #000000; border-left-color: #000000; border-top-width: 0.75pt; border-left-width: 0.75pt; border-top-style: solid; border-left-style: solid;"><b>$1,651,464</b></td>
            </tr>
        </table>
        <p style="text-align: justify; text-indent: 36pt; margin-top: 10pt; margin-bottom: 10pt;">The Company may cause Yorkville to purchase additional Common Shares under the SEPA from time to time, subject to the satisfaction or waiver of the conditions and limitations set forth in the SEPA. The Company intends to use part of the net proceeds from the SEPA Advances to prepay a portion of the debentures the Company has outstanding with Yorkville, as described in that certain Current Report on Form 8-K dated June 20, 2025. The Common Shares were issued and sold to Yorkville in reliance upon the exemption from the registration requirements of the Securities Act of 1933, as amended (the "Securities Act"), afforded by Section 4(a)(2) of the Securities Act. The Company is relying on this exemption from registration based in part on representations made by Yorkville in the SEPA. Yorkville may resell the Common Shares it has purchased from the Company under the SEPA from time to time pursuant to that certain effective registration statement on form S-1 (File No. 333-287582), which has been filed by the Company in accordance with its requirements under the SEPA.</p>
        <p style="text-align: justify; text-indent: 36pt; margin-top: 10pt; margin-bottom: 10pt;">In addition, on August 13, 2025, James Quinlan, the Chief Financial Officer of the Company, exercised stock options to purchase 125,000 Common Shares for cash at an exercise price of $0.81 per Common Share and stock options to purchase 20,000 Common Shares for cash at an exercise price of $2.75 per Common Share, for aggregate proceeds to the Company of approximately $156,250. The Common Shares were issued and sold to Mr. Quinlan in reliance upon the exemption from the registration requirements of the Securities Act afforded by Section 4(a)(2) of the Securities Act.</p>
        <p style="text-align: justify; text-indent: 36pt; margin-top: 10pt; margin-bottom: 10pt;">This report shall not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or jurisdiction.</p>
        <hr style="page-break-after: always; text-align: center;" width="100%" size="5" color="black" noshade="noshade"><a name="page_4"></a>
        <p style="text-align: justify; margin-top: 10pt; margin-bottom: 10pt;"><b>Forward-Looking Statements</b></p>
        <p style="text-align: justify; margin-top: 10pt; margin-bottom: 10pt;"><i>Certain information in this news release constitutes "forward-looking information" under applicable securities laws. "Forward-looking information" is defined as disclosure regarding possible events, conditions or financial performance that is based on assumptions about future economic conditions and courses of action and includes, without limitation, statements regarding future sales of Common Shares under the SEPA to Yorkville. Forward-looking statements are often but not always, identified by the use of such terms as "may", "on track", "aim", "might", "will", "will likely result", "would", "should", "estimate", "plan", "project", "forecast", "intend", "expect", "anticipate", "believe", "seek", "continue", "target" or the negative and/or inverse of such terms or other similar expressions. These statements involve known and unknown risks, uncertainties and other factors, which may cause actual results, performance or achievements to differ materially from those expressed or implied by such statements, including those risk factors described in the Company's public filings on EDGAR and on SEDAR+, which may impact, among other things, the trading price and liquidity of the Company's common shares. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement and reflect our expectations as of the date hereof and thus are subject to change thereafter. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.</i></p>
        <p style="text-align: justify; margin-top: 10pt; margin-bottom: 10pt;"><i>Readers are cautioned that the foregoing list is not exhaustive, and readers are encouraged to review the Company's long form prospectus accessible on the Company's profile on EDGAR at www.sec.gov and on SEDAR+ at www.sedarplus.ca. Readers are further cautioned not to place undue reliance on forward-looking statements as there can be no assurance that the plans, intentions or expectations upon which they are placed will occur. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated.</i></p>
        <hr style="page-break-after: always; text-align: center;" width="100%" size="5" color="black" noshade="noshade"><a name="page_5"></a>
        <p style="text-align: center; margin-top: 10pt; margin-bottom: 10pt;"><b>SIGNATURES</b></p>
        <p style="text-align: justify; text-indent: 36pt; margin-top: 10pt; margin-bottom: 0pt;">Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, hereunto duly authorized.</p>
        <p style="text-align: justify; margin-top: 0pt; margin-bottom: 10pt;">&#8203;</p>
        <table style="width: 100%; font-size: 10pt; border-collapse: collapse;" cellspacing="0" cellpadding="0">
            <tr>
                <td style="margin-top: 0pt; margin-bottom: 0pt;">&#160;</td>
                <td style="margin-top: 0pt; margin-bottom: 0pt;" colspan="3"><b>MEDICUS PHARMA LTD.</b></td>
            </tr>
            <tr>
                <td style="margin-top: 0pt; margin-bottom: 0pt;">&#160;</td>
                <td style="width: 5%; margin-top: 0pt; margin-bottom: 0pt;">&#160;</td>
                <td style="margin-top: 0pt; margin-bottom: 0pt;" colspan="2">&#160;</td>
            </tr>
            <tr>
                <td style="margin-top: 0pt; margin-bottom: 0pt;">&#160;</td>
                <td style="width: 5%; margin-top: 0pt; margin-bottom: 0pt;">By:</td>
                <td style="width: 1%; margin-top: 0pt; margin-bottom: 0pt;">&#160;</td>
                <td style="margin-top: 0pt; margin-bottom: 0pt; border-bottom-color: #000000; border-bottom-width: 0.75pt; border-bottom-style: solid;">/s/ Raza Bokhari</td>
            </tr>
            <tr>
                <td style="margin-top: 0pt; margin-bottom: 0pt;">&#160;</td>
                <td style="width: 5%; margin-top: 0pt; margin-bottom: 0pt;">Name:</td>
                <td style="width: 1%; margin-top: 0pt; margin-bottom: 0pt;">&#160;</td>
                <td style="margin-top: 0pt; margin-bottom: 0pt;">Dr. Raza Bokhari</td>
            </tr>
            <tr>
                <td style="margin-top: 0pt; margin-bottom: 0pt;">&#160;</td>
                <td style="width: 5%; margin-top: 0pt; margin-bottom: 0pt;">Title:</td>
                <td style="width: 1%; margin-top: 0pt; margin-bottom: 0pt;">&#160;</td>
                <td style="margin-top: 0pt; margin-bottom: 0pt;">Executive Chairman and Chief Executive Officer</td>
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        <p style="text-align: justify; margin-top: 10pt; margin-bottom: 10pt;">Dated: August 22, 2025</p>
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