Intellipharmaceutics International Inc. Moves to NEX with New Stock Option Plan

Intellipharmaceutics International Inc., a Toronto-based pharmaceutical company, has announced its plans to transition from the TSX to the NEX platform, a board of the TSX Venture Exchange, effective March 26, 2024. This move comes as the company faces a Cease Trade Order from the Ontario Securities Commission due to unmet financial reporting obligations, causing its delisting from the TSX after market close on March 25, 2024. Despite these challenges, the shift to NEX, marked by the change of its trading symbol to "IPCI.H", does not affect the company's listing on the OTCQB Marketplace where it continues to trade under "IPCIF".

Adding to its strategic corporate adjustments, Intellipharmaceutics also disclosed the approval of a new stock option plan by the TSXV. Awaiting shareholder endorsement at the forthcoming annual meeting, this new scheme supersedes previous compensation plans, with 10% of shares earmarked for issuance under the plan. The company aims to secure a reactivation of its listing on the TSXV upon compliance with regulatory disclosures and the lifting of the current trade restrictions.