Category: Medical Marijuana

Ovation Science Inc. Closes $2,415,000 IPO and is Listed

Vancouver, British Columbia--(November 15, 2018) - Ovation Science Inc. (CSE: OVAT) ("Ovation" or the "Company") announces that it has closed its Initial Public Offering of units at $0.30 per unit (the "Units") pursuant to its final prospectus dated October 26, 2018 (the "Prospectus"). Each Unit consists of one common share and one half of a non-transferable share purchase warrant (the "Warrants") with each whole Warrant entitling the holder to purchase one additional common share of the Company at a price of $0.45 per common share for a period of two years from closing of the Offering (the "Expiry Date") subject to the Company's right to accelerate the Expiry Date on written notice to the holders of Warrants (the "Acceleration Notice") to accelerate the Expiry Date to the date that is 20 days from the date of the Acceleration Notice provided that the volume weighted average closing price of the Company's Common Shares on the Canadian Securities Exchange is $0.65 or more for 10 consecutive trading days.

PI Financial Corp. (the "Agent") as agent for the Offering sold the maximum amount of Units under the Prospectus being 7,000,000 Units. In addition the Agent has fully exercised its Option to purchase up to an additional 1,050,000 Units. As a result, the Company issued 8,050,000 Units for gross proceeds of $2,415,000 and net proceeds (after deducting the Agent's commission, corporate finance fee and expenses) of $2,167,578.05. In addition the Company issued a total of 644,000 brokers warrants with each Warrant entitling the Agent and other members of the selling group to purchase one common share of the Company at a price of $0.45 per share for a period of two years from closing.

The common shares of the Company were listed on the Canadian Securities Exchange on November 14, 2018 and are expected to commence trading on November 15, 2018.

About Ovation Science Inc.

Ovation Science Inc. is a company that licenses its proprietary topical and transdermal cannabis formulations made with its patented Invisicare® skin delivery technology. Invisicare, used in Ovation's topical and transdermal products, enhances the delivery of cannabidiol (CBD) and tetrahydrocannabinol (THC) to and through the skin.

Forward-Looking Statements

Information set forth in this news release contains forward-looking statements that are based on assumptions as of the date of this news release. These statements reflect management's current estimates, beliefs, intentions and expectations. They are not guarantees of future performance. Ovation Science Inc. cautions that all forward looking statements are inherently uncertain and that actual results may be affected by a number of material factors, many of which are beyond Ovation Science Inc.'s control.

Neither Canadian Securities Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.

Greg Werbowski
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Phone: 604-283-0903


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