On June 7, 2019, Stellar Biotechnologies, Inc. completed its business combination with Edesa Biotech Inc., in accordance with the terms of the Share Exchange Agreement, dated March 7, 2019, by and among Stellar, Edesa and the shareholders of Edesa. At the closing of the transaction, Stellar acquired the entire issued share capital of Edesa, with Edesa becoming a wholly-owned subsidiary of Stellar. Edesa Biotech, Inc. reported that the previously announced business combination with Stellar Biotechnologies, Inc. The combined company will focus on the development and advancement of innovative treatments for dermatological and gastrointestinal indications.

The combined company will be called Edesa Biotech, Inc. and will commence trading on the Nasdaq Capital Market on June 10, 2019 under the symbol 'EDSA'. In accordance with the Exchange Agreement, on June 7, 2019, effective immediately prior to the Closing, each of Deborah F. Aghib, Ph.D., Tessie M. Che, Ph.D., Paul Chun, David L. Hill, Ph.D., Charles V. Olson, D.Sc. and Mayank D. Sampat resigned from the company's board of directors and committees of the board of directors on which they respectively served, which resignations were not the result of any disagreements with the company relating to the Company's operations, policies or practices.

At the Closing, in accordance with the Exchange Agreement, the size of the company's board of directors was fixed at seven members and the board of directors was reconstituted to consist of four members designated by Edesa, Dr. Pardeep Nijhawan, Sean MacDonald, Paul William Pay and Peter van der Velden, one designated by Stellar, Frank R. Oakes, who retained his position as a director of the company from prior to the Closing, and two “independent” directors, Lorin Johnson and Carlo Sistilli. Each of Sean MacDonald, Paul William Pay, Peter van der Velden, Lorin Johnson and Carlo Sistilli qualify as “independent” as defined under Nasdaq corporate governance rules. In addition, upon the completion of the Exchange, Sean McDonald, Paul William Pay and Carlo Sistilli were appointed to the Company's Audit Committee (with Mr. Sistilli appointed to serve as chair of the committee); Sean McDonald, Peter van der Velden and Carlo Sistilli were appointed to the Company's Nominating and Corporate Governance Committee; and Sean McDonald, Paul William Pay and Lorin K. Johnson were appointed to the Compensation Committee.

Sean MacDonald was also appointed to serve as Chairman of the board of directors of the combined company. Dr. Pardeep Nijhawan, 48, MD, FRCPC, AGAF is the Chief Executive Officer, Secretary and a director of Edesa, positions he has held since forming the company in 2015. Dr. Nijhawan is a seasoned pharmaceutical entrepreneur with nineteen years of experience in cross-functional roles including finance, marketing and business development.

At Edesa, Dr. Nijhawan leads the Executive Team in setting the company's corporate strategy and business development initiatives. Prior to Edesa, Dr. Nijhawan was the founder and CEO of Medical Futures Inc. which was sold to Tribute Pharmaceuticals. Sean MacDonald, 42, is the CEO of Corbin Therapeutics Inc., a Montreal based biotech start up focused on treating neuroinflammation and has been a director of Edesa since September 2017.

Mr. MacDonald became CEO of Corbin Therapeutics in October of 2018, and in such capacity oversees all of the company's activities including R&D, financing, and operations. Paul William Pay, 64, is an executive with forty years' experience in the pharmaceutical /biotechnology industry and has been a member of the board of directors of Edesa since the company's inception in 2015. During his career, Mr. Pay has held Senior management positions in big pharma, specialty pharmaceutical and early stage companies, including being a co-founder of a university spin-out company.

In his current role as Chief Business Development Officer at Norgine, a role he has held since 2007, Mr. Pay has global responsibility for business development, licensing, acquisitions, integration, alliance management and regional partnerships. Peter van der Velden, 57, is an experienced investor and operator who for the past twenty-eight years has been building innovative, technology centric companies from start-up through to expansion. Since 2007, Mr. van der Velden has been the Managing General Partner of Lumira Ventures.

Lorin Johnson, 66, is the founder and Chief Scientist of Glycyx PharmaVentures Ltd. Carlo Sistilli, 62, has held a variety of senior positions in accounting and finance during his professional career. Mr. Sistilli joined Arista Homes, as CFO, 15 years ago. As a member of the senior management team of Arista, Mr. Sistilli's responsibilities include overseeing the finance, accounting and IT areas, as well as due diligence and analysis of land purchases and various other investments.

At the Closing, Frank R. Oakes resigned as the Company's Chief Executive Officer and Dr. Pardeep Nijhawan, Edesa's Chief Executive Officer, was appointed the combined Company's Chief Executive Officer and Michael Brooks, Edesa's Vice President Corporate Development and Strategy, was appointed the combined Company's President. Kathi Niffenegger, Stellar's Chief Financial Officer, remains the Chief Financial Officer of the combined company. Dr. Michael Brooks, PhD, MBA, 41, initially joined Edesa in September 2015 as Vice President, Corporate Development and Strategy.

Prior to joining Edesa, Dr. Brooks held positions of increasing responsibility at Cipher Pharmaceuticals Inc. from 2010 to 2015 and served most recently as Director of Business Development. At the Closing, the Company entered into an employment agreement with Ms. Niffenegger. Pursuant to the employment agreement, Ms. Niffenegger will serve as the Company's Chief Financial Officer.