Intellipharmaceutics Closes USD$250,000 Convertible Debenture Financing with Drs. Isa and Amina Odidi

Nov 18, 2019

TORONTO, ON / ACCESSWIRE / November 18, 2019 / Intellipharmaceutics International Inc. (OTCQB:IPCIF and TSX:IPCI) ("Intellipharmaceutics" or the "Company") and Drs. Isa and Amina Odidi announce that, following the close of markets on November 15, 2019, the Company issued to Drs. Isa and Amina Odidi, by way of private placement, an unsecured convertible debenture of the Company in consideration for, and in the aggregate principal amount of, USD$250,000 (the "Debenture"). The principal amount owing under the Debenture is convertible at any time and from time to time into common shares in the capital of the Company (the "Common Shares") at a conversion price equal to USD$0.12 per Common Share. Up to an aggregate of 2,083,333 Common Shares may be issued upon conversion of the principal amount owing under the Debenture, representing approximately 9.43% of the issued and outstanding Common Shares.

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