Incannex Announces Intention to Redomicile to United States, List all Shares on Nasdaq

Highlights:

• Incannex to redomicile to the United States via a Scheme of Arrangement pursuant to Australian
law
• A newly formed Delaware corporation (Incannex Healthcare Inc.) will become the ultimate
parent company of the group, following implementation of the Scheme of Arrangement
• The shares of common stock issued by Incannex Healthcare Inc. in exchange for all outstanding
ordinary shares of Incannex, pursuant to the Scheme of Arrangement, will be listed on Nasdaq
• Incannex will have greater access to capital market more cognisant of IHL’s value proposition
with peer comparison companies trading at significantly higher market valuations
• The Incannex Board also anticipates:
o Improved access to large pools of lower cost equity capital over the long term
o Increased alignment with prominent pharmaceutical companies
o A simplified corporate structure for any future potential merger or acquisition
transactions
o Enhanced access to FDA resources
• Incannex shareholders and optionholders will be given the opportunity to vote on redomiciling
to the US in October 2023; if approved, the change in nature of the shares in Incannex can be
implemented rapidly.
• If approved, Incannex will assist shareholders to seamlessly transfer their holdings to US shares
tradable on Australia broking platforms to ensure little to no disruption to shareholders.
• Redomiciling Incannex to the US is not intended to coincide with any capital raise as the
Company has approximately $33M in cash reserves for development activities as at 30 June
2023.