Medicus Pharma Ltd. Announces the Filing of a Final Base Shelf Prospectus

Toronto, Ontario--(Newsfile Corp. - January 25, 2024) - Medicus Pharma Ltd. (TSXV: MDCX) ("Medicus" or the "Company") has filed a final short form base shelf prospectus (the "Shelf Prospectus") with the securities regulatory authorities in each of the provinces and territories of Canada. The Shelf Prospectus allows Medicus to offer from time to time over a 25-month period up to US$50 million (or the equivalent in other currencies) of common shares, preferred shares, warrants, subscription receipts, debt securities, and units comprised of more than one of the foregoing securities (collectively, the "Securities"), or any combination thereof, in all of the provinces and territories of Canada.

The Company has filed the Shelf Prospectus to maintain financial flexibility but has no immediate plans to undertake an offering of Securities under the Shelf Prospectus. There is no certainty that any Securities will be offered or sold under the Shelf Prospectus within the 25-month effective period. Should Medicus decide to offer any Securities during the 25-month effective period, the specific terms will be set forth in a prospectus supplement to the Shelf Prospectus.

This news release 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 jurisdiction in which an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. The Securities will not be offered, sold or delivered, directly or indirectly within the United States (as such term is defined in Regulation S under the United States Securities Act of 1933, as amended (the "U.S. Securities Act")) except pursuant to transactions exempt from registration under the U.S. Securities Act and under the securities laws of any applicable state.

A copy of the Shelf Prospectus may be found on SEDAR+ at www.sedarplus.ca.

For further information contact:

Carolyn Bonner, President
(610) 636-0184
cbonner@medicuspharma.com

LHA Investor Relations
Tirth T. Patel
212-201-6614
tpatel@lhai.com

About Medicus Pharma Ltd:

Medicus Pharma Ltd. (TSXV:MDCX) is a clinical stage, multi-strategy holding company focused on investing in and accelerating novel life sciences and bio-technology companies through FDA approved clinical trials.

Through our diverse experience and extensive industry network, we are building Medicus into a leading pharmaceutical holding company, committed to delivering better treatment outcomes and alleviate pain and suffering. Utilizing a thesis driven collaborative process, we identify, acquire and advance relatively de-risked clinical stage assets through clinical development and commercialization.

Skinject Inc. a wholly owned subsidiary of Medicus Pharma Ltd, is a development stage, life sciences company focused on commercializing novel, non-invasive treatment for basal cell and squamous cell skin cancer using patented dissolvable microneedle patch to deliver chemotherapeutic agent to eradicate tumors cells. The company currently has an FDA approved phase 2 trial actively recruiting patients.

Cautionary Notice on Forward-Looking Statements

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 future- oriented financial information with respect to prospective financial performance, financial position or cash flows that is presented as a forecast or a projection. Forward-looking statements are often but not always, identified by the use of such terms as "may", "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 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.

Readers are cautioned that the foregoing list is not exhaustive and readers are encouraged to review the Company's long form prospectus dated September 18, 2023, which is accessible on the Company's profile 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.

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

Not for distribution to U.S. news wire services or dissemination in the United States

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