On May 12, 2020 IntelGenx Technologies Corp. (TSX-V:IGX) (OTCQB:IGXT) ("IntelGenx"), a leader in pharmaceutical films, reported that it is proposing to amend the terms of its 8.0% convertible unsecured subordinated debentures due June 30, 2020, originally issued on July 12, 2017 and August 8, 2017 (the "Debentures"), to extend the maturity date from June 30, 2020 to June 30, 2022 and reduce the conversion price from $1.35 to $0.50 (Press release, IntelGenx, MAY 12, 2020, View Source [SID1234557606]). The proposed amendments remain subject to approval of the TSX Venture Exchange and the holders of not less than 66 2/3% of the outstanding principal amount of the Debentures.

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An aggregate principal amount of $7,577,000 of Debentures remains outstanding as of the date hereof.