Item 2. Properties
ITEM 2. PROPERTIES
Our principal place of business is located at
1177 Avenue of the Americas, 5 th Floor, New York, NY 10036. We also have a satellite office in the greater Montreal area located
at 6500 Trans-Canada Highway, 4 th Floor, Pointe-Claire, Quebec, Canada H9R 0A5. We are not party to lease agreements in connection
with these two office locations. We pay rent month-to-month and have access to additional space on a pay-per-use basis.
Our wholly owned subsidiary, Nora Pharma, currently
occupies a 23,500 square foot facility located at 1565 Boulevard Lionel-Boulet, Varennes, Quebec, Canada, J3X 1P7 pursuant to a lease
agreement that expires in January 2030, with an option to extend for 5 years. This site is composed of 18,500 square feet of warehouse
space and 5,000 square feet of executive office space. The facility houses all administrative, marketing, quality control, regulatory
affairs, and other operations personal, as well as a Health Canada licensed warehouse space. We pay a monthly rent of $27,250 CAD (approximately
$19,900 USD), including taxes. We estimate that this facility is adequate for annual sales of approximately
$50 to $75 million, past which we will need to find additional space.
ITEM 3. LEGAL PROCEEDINGS
We are not party to, and our property is not the
subject of, any legal proceedings nor are we aware of any threats of such actions against us.
ITEM 4. MINE SAFETY DISCLOSURES
Not applicable.
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PART II
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