ZYUS Life Sciences Successfully Completes Brokered Subscription Receipt Financing and Reverse Takeover

June 12, 2023

On June 6, 2023, ZYUS Life Sciences Inc. (“ZYUS”), a private Canadian life sciences company, and Phoenix Canada Oil Company Limited (TSX-V:PCO) (the “Company”) announced the closing of a brokered subscription receipt financing for aggregate gross proceeds of approximately $20,130,131 through the issuance 12,581,332 subscription receipts of ZYUS at price of $1.60 per subscription receipt.

On June 12, 2023, ZYUS and the Company announced the completion of the previously announced reverse takeover transaction in accordance with the terms of an arrangement agreement dated November 15, 2022, as amended (the “Arrangement Agreement”), pursuant to which the Company and ZYUS completed a business combination by way of a plan of arrangement.

The financing was led by Stifel Nicolaus Canada Inc., Haywood Securities Inc. and Roth Canada Inc, acting as co-lead agents and joint bookrunners.

Miller Thomson advised the agents on the financing and reverse-takeover, with a team led by Lawrence Wilder and comprised of Adam Kline, Ian Polisuk, Connor Broude, Andrea Chiu (Corporate/M&A).