Lumira Ventures Updates Holdings in Edesa Biotech, Inc.

TORONTO, Jan. 12, 2023 /CNW/ - Lumira Capital Investment Management Inc. o/a Lumira Ventures ("Lumira") announces that on January 9, 2023, 132,845 common shares ("Common Shares")  of Edesa Biotech, Inc. (the "Issuer") and 12,284 Common Shares were sold by Lumira Capital II, L.P. ("LCII LP") and Lumira Capital II (International), L.P. ("LCII INT LP"), respectively, at a price of US$2.6621 per Common Share, and on January 10, 2023, 139,450 Common Shares and 12,895 Common Shares were sold by LCII LP and LCII INT LP, respectively, at a price of US$2.6346 per Common Share. The dispositions of the Common Shares were effected through the facilities of the NASDAQ stock market.

Prior to the dispositions, LCII LP held 1,897,428 Common Shares and LCII INT LP held 175,454 Common Shares. Taken together, the entities held an aggregate of 2,072,882 Common Shares, as well as an aggregate of 105,470 common share purchase warrants of the Issuer ("Warrants"), representing approximately 10.71% of the total issued and outstanding shares of the Issuer on an undiluted basis (and approximately 11.2% on a partially diluted basis after giving effect to the exercise of the Warrants, without giving effect to the exercise or conversion of any other outstanding convertible security of the Issuer). Following the disposition of the Common Shares as stated herein, LCII LP and LCII INT LP hold an aggregate of 1,775,408 Common Shares, and 105,470 Warrants, representing approximately 9.17% of the total issued and outstanding shares of the Issuer on an undiluted basis (and approximately 9.67% on a partially diluted basis after giving effect to the exercise of the Warrants, without giving effect to the exercise or conversion of any other outstanding convertible security of the Issuer).

Lumira Capital GP, L.P. the general partners of which are Lumira GP Inc. and Lumira GP Holdings Co., is the general partner of LCII LP and LCII INT LP, and each of LCII LP and LCII INT LP is managed by Lumira Capital Investment Management Inc. Mr. Peter van der Velden is an executive officer of Lumira GP Inc., Lumira GP Holdings Co., and Lumira Capital Investment Management Inc. Each of Lumira Capital GP, L.P., Lumira GP Inc., Lumira GP Holdings Co., Lumira Capital Investment Management Inc. and Mr. van der Velden may be deemed to beneficially own the shares held by LCII LP and LCII INT LP, but each disclaim beneficial ownership except to the extent of their pecuniary interest therein, if any.

The Common Shares were disposed of for investment purposes, and Lumira will continue to evaluate their investment in the Issuer from time to time.

The Issuer's head office address is 100 Spy Court, Markham, Ontario, Canada, L3R 5H6.

SOURCE Lumira Capital Investment Management Inc.

For further information, including a copy of the corresponding report filed with Canadian securities regulators, please visit www.sedar.com or contact Peter van der Velden, Managing General Partner, Lumira Ventures, 141 Adelaide Street West, Suite 770, Toronto, ON M5H3L5