Sunshine Biopharma, Inc. Announces Closing of $8 Million Public Offering and Uplisting to the Nasdaq Capital Market

MONTREAL, Canada, Feb. 17, 2022 (GLOBE NEWSWIRE) -- Sunshine Biopharma, Inc.  (NASDAQ: “SBFM” and “SBFMW”) (the “Company” or “Sunshine Biopharma”), a pharmaceutical  company focused on the research, development and commercialization of oncology and antiviral  drugs, announced today the closing of its underwritten public offering of 1,882,353 units at a price  to the public of $4.25 per unit, for aggregate gross proceeds of $8 million, prior to deducting  underwriting discounts, commissions and other estimated offering expenses. Each unit consists of  one share of common stock, par value $0.001 per share, and two warrants, each warrant exercisable  for one share of common stock with an exercise price of $4.25.  

In addition, the Company has granted Aegis Capital Corp. (“Aegis”) a 45-day option to purchase  additional shares of common stock and/or warrants equal up to 15% of the number of shares and  warrants, respectively, sold in the offering solely to cover over-allotments, if any. The underwriter  partially exercised its over-allotment option with respect to 337,494 warrants to purchase shares of  common stock. At the closing, the Company issued an aggregate of 1,882,353 common shares and  4,102,200 warrants to purchase common shares. 

The Company’s common stock and warrants are listed on the Nasdaq Capital under the symbols “SBFM” and “SBFMW”, respectively. 

Aegis Capital Corp. acted as sole book-running manager for the offering.  

A registration statement on Form S-1 (No. 333-259394) relating to the securities being sold in this  offering was declared effective by the Securities and Exchange Commission (the “SEC”) on  February 14, 2022. The offering has been made only by means of a prospectus. Copies of the final  prospectus may be obtained on the SEC’s website, www.sec.gov, or by contacting Aegis Capital  Corp., Attention: Syndicate Department, 810 7th Avenue, 18th Floor, New York, NY 10019, by  email at syndicate@aegiscap.com, or by telephone at (212) 813-1010. 

This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall  there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or  sale would be unlawful prior to registration or qualification under the securities laws of any such  state or jurisdiction. 

About Sunshine Biopharma 

Severe Acute Respiratory Syndrome-Coronavirus-2 (SARS-CoV-2) is the causative agent of the  ongoing COVID-19 pandemic that has claimed the lives of over 5.3 million people worldwide since  it first appeared in December 2019. There are currently no drugs that can effectively arrest  replication of the virus in people who have contracted the illness. Sunshine Biopharma has  completed the synthesis of four potential inhibitors of PLpro and subsequently identified a lead  compound, SBFM-PL4. The Company is currently advancing the development of SBFM-PL4 in  collaboration with the University of Georgia, College of Pharmacy. 

In addition, to working on the development of a treatment for COVID-19, Sunshine Biopharma is  engaged in the development Adva-27a, a unique anticancer compound. Tests conducted to date 

have demonstrated the effectiveness of Adva-27a at destroying Multidrug Resistant Cancer Cells,  including Pancreatic Cancer cells, Small-Cell Lung Cancer cells, Breast Cancer cells, and Uterine  Sarcoma cells. Clinical trials for Pancreatic Cancer indication are planned to be conducted at McGill  University’s Jewish General Hospital in Montreal, Canada. Sunshine Biopharma is owner of all  patents and intellectual property pertaining to Adva-27a. 

Safe Harbor Forward-Looking Statements 

This press release may contain forward looking statements which are based on current expectations,  forecasts, and assumptions that involve risks as well as uncertainties that could cause actual  outcomes and results to differ materially from those anticipated or expected. These statements  appear in a number of places in this release and include all statements that are not statements of  historical fact regarding the intent, belief or current expectations of the Company, including  statements related to our financial performance and future growth. These risks and uncertainties are  further defined in filings and reports by the Company with the U.S. Securities and Exchange  Commission (SEC). Actual results and the timing of certain events could differ materially from  those projected in or contemplated by the forward-looking statements due to a number of factors  detailed from time to time in our filings with the SEC. Reference is hereby made to cautionary  statements and risk factors set forth in the Company's most recent SEC filings.  

For Additional Information Contact: 

Camille Sebaaly, CFO 

Sunshine Biopharma Inc. 

Direct Line: 514-814-0464 

camille.sebaaly@sunshinebiopharma.com 

www.sunshinebiopharma.com

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