Intellipharmaceutics International Inc. (IPCI)

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NTRODUCTION. Intellipharmaceutics International Inc., a Canadian corporation (the “Company”), proposes, subject to the terms and conditions stated herein, to issue and sell through or to Roth Capital Partners, LLC, as sales agent or principal (“Roth”), on the terms set forth in this distribution agreement (this “Agreement”), up to 5,305,484 authorized but unissued common shares of the Company, no par value (“Common Shares”), having an aggregate gross sales price of not more than $16,800,000 (the “Shares”).