Medicus Pharma Announces Standby Equity Purchase Deal, To Delist From TSX Venture Exchange

(RTTNews) - Medicus Pharma Ltd. (MDCX), Tuesday announced a Standby Equity Purchase Agreement with YA II PN, LTD, an investment fund managed by Yorkville Advisors Global, LP, providing the company an option to sell upto $15 million of its common shares to the latter at any time during the upcoming 36-months.

Concurrently, the life sciences company announced the Board's decision to voluntarily delist from the TSX Venture Exchange. The move comes as the low trading volume of its shares on the exchange does not align with the company's go-forward capital markets strategy.

Notably, the company's shares will continue to be listed on The Nasdaq Capital Market under the symbol "MDCX" as it represents the large majority of the Company's trading volume.

In the pre-market hours, Medicus's stock is trading at $2.98 on the Nasdaq.