Intellipharmaceutics International Inc. (IPCI)

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Nasdaq Hearings Panel Grants Intellipharmaceutics’ Request for Continued Listing
Toronto, Ontario May 22, 2018 Intellipharmaceutics International Inc. (NASDAQ and TSX: IPCI) (“Intellipharmaceutics” or the
“Company”), a pharmaceutical company specializing in the research, development and manufacture of novel and generic controlled-release
and targeted-release oral solid dosage drugs, today announced that it has received notice from the Nasdaq Hearings Panel granting its
request for continued listing until September 28, 2018 while the Company works to regain compliance with Nasdaq’s requirements.
At a hearing held on May 17, 2018, the Company presented its plan to regain and maintain compliance with Nasdaq’s continued listing
requirements. The Panel granted the Company’s request for continued listing, subject to the following relevant conditions. On or before
September 28, 2018, the Company must comply with the $1.00 bid price requirement by having a closing bid price of over $1.00 for ten
prior consecutive trading days. The Company must also have by September 28, 2018 a stockholders’ equity position of over $2.5 million.
Finally, the Company must by that date provide the Panel with updated financial projections demonstrating its ability to maintain
compliance with the stockholders’ equity rule for the coming year. There is no assurance that the Company will be able to regain
compliance with the Nasdaq requirements, or if it does, that the Company will be able to maintain such compliance.
About Intellipharmaceutics