Mednow Announces Upsized Closing of Approximately $37,000,000 Initial Public Offering Led by Gravitas Securities, Eight Capital and Stifel GMP and Subsequent Listing on the TSX Venture Exchange under Symbol “MNOW”

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

VANCOUVER, British Columbia--(BUSINESS WIRE)--Mednow Inc. (“Mednow” or the “Company”) is pleased to announce that it has closed its initial public offering (the "Offering") of an aggregate of 5,492,325 units of the Company (the "Units") at a price of $6.75 per Unit (the “Offering Price”) (including 307,140 Units sold in connection with the exercise of the Agents’ over-allotment option) for aggregate gross proceeds of approximately $37,073,193.75. Each Unit consists of one Class A common share of the Company (each, a "Common Share") and one-half of one Common Share purchase warrant (each whole warrant, a "Warrant"). Each Warrant entitles the holder thereof to acquire one Common Share at an exercise price of $8.50 for a period of 24 months following March 4, 2021.

The syndicate is led by Gravitas Securities Inc., Eight Capital and Stifel Nicolaus Canada Inc. and includes Canaccord Genuity Corp. and Raymond James Ltd. (collectively, the “Agents”).

The Common Shares are expected to commence trading on the TSX Venture Exchange under symbol “MNOW” at market open on March 9, 2021.

“Mednow is in an excellent position to execute on its vision of becoming a household name by improving healthcare access through a focus on excellent service, proprietary technology and enhanced delivery. In the near-term, we will be adding fulfillment centers across the country with the goal of achieving national coverage across Canada, we will be investing in a proprietary telemedicine service and we will continue to invest in our technological platform to maximize the user experience. We are grateful for the support from our investors and we are determined to provide value to consumers and shareholders as we grow Canada’s On-Demand Virtual Pharmacy,” said Karim Nassar, CEO of Mednow.

No securities regulatory authority has either approved or disapproved the contents of this news release. This news release does not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale or any acceptance of an offer to buy these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

Additional information on the Company and the Offering can be found in the Company’s final prospectus dated February 26, 2021 as filed on SEDAR at www.sedar.com.

These securities have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States without registration or an applicable exemption from the registration requirements of that Act. This news release does not constitute an offer for sale of these securities in the United States.

About Mednow Inc.

Mednow is a healthcare technology company offering virtual access with exceptional care. Designed with access and quality care in mind, Mednow.ca provides virtual care with convenience and through an interdisciplinary approach to healthcare that is focused on the patient experience. Pharmacy services include free at-home delivery of medications, a user-friendly interface for easy upload, transfer and refill of prescriptions, access to healthcare professionals through an intuitive chat experience, a specialized PillSmart™ system that packages prescriptions and vitamins by date and time, as well as access to telemedicine virtual care.

To learn more visit: www.mednow.ca

This release includes certain statements and information that constitute forward-looking information within the meaning of applicable Canadian securities laws, including the expected date the Company’s shares will commence trading on the TSX Venture Exchange, adding fulfillment centers, achieving national coverage, investing in a proprietary telehealth service and continued investment into the Company’s technological platform. Generally, forward-looking statements and information can be identified by the use of forward-looking terminology such as “intends,” “anticipates,” “it is expected,” or variations of such words and phrases, or statements that certain actions, events or results “may,” “could,” “should,” or “would” occur. Forward-looking statements are based on certain material assumptions and analyses made by management of the Company and the opinions and estimates of management of the Company as of the date of this press release, including that the Company’s shares will commence trading on the TSX Venture Exchange on the timeline expected by management, that fulfillment centers will be added, that national coverage will be achieved, the Company will invest in a proprietary telehealth service and there will be continued investment into the Company’s technological platform. Although the Companies consider these assumptions to be reasonable based on information currently available to them, they may prove to be incorrect, and the forward-looking statements in this release are subject to numerous risks, uncertainties and other factors that may cause future results to differ materially from those expressed or implied in such forward-looking statements. Such risk factors may include, among others, the risk that the Company’s shares will not commence trading on the TSX Venture Exchange as expected by management or at all, the Company will not be successful in adding fulfillment centers, the Company will not achieve national coverage, the Company will not invest in a proprietary telehealth service and will not continue to investment into the Company’s technological platform and the other risks and uncertainties applicable to the Company. There can be no assurance that the transactions contemplated in this news release will complete. Although management of the Companies have attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. Readers are cautioned that reliance on such information may not be appropriate for other purposes. The Company does not undertake to update any forward-looking statement, forward-looking information or financial outlook that is, except in accordance with applicable securities laws. We seek safe harbor.