IntelGenx Technologies : Loan Agreement (Form 8-K)

Loan Agreement

In connection with the proposed up-listing from the TSX Venture Exchange to the Toronto Stock Exchange of common shares, warrants and debentures of IntelGenx Technologies Corp. (the 'Corporation') as set out in the conditional approval letter of the Toronto Stock Exchange dated August 12, 2021 (the 'Up-Listing'), on September 14, 2021, ATAI Life Sciences AG ('atai') and IntelGenx Corp. (the 'IntelGenx'), a wholly owned subsidiary of the Corporation, agreed to amend and restate the existing loan agreement dated March 8, 2021, as previously amended on May 14, 2021 (as amended and restated, the 'Loan Agreement'), for the purpose of increasing the principal amount of loans available to IntelGenx and extending the maturity date of the loans to January 5, 2024. atai already advanced a tranche in the amount of $2,000,000 to IntelGenx on March 8, 2021 and a second tranche in the amount of $500,000 on May 14, 2021. atai has agreed to provide a third tranche in the amount of $3,000,000 to IntelGenx on or about January 7, 2022 and a fourth tranche on about January 6, 2023 in the amount of $3,000,000, subject in each case to certain conditions.

Deed of Hypothec

Also in connection with the proposed Up-Listing and the Loan Agreement, on September 14, 2021, IntelGenx and atai entered into a deed of hypothec (the 'Hypothec'). Under the Hypothec, IntelGenx has hypothecated assets in favor of atai to secure the repayment of all indebtedness under the Loan Agreement.

The foregoing is a summary of certain material terms and conditions of the Loan Agreement and Hypothec and is not a complete discussion of such agreements. Accordingly, the foregoing is qualified in its entirety by reference to the full text of the Loan Agreement and Hypothec which [will be filed as exhibits to the Corporation's Quarterly Report on Form 10-Q for the fiscal quarter ended September 30, 2021.]

Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.

The information set forth under Item 1.01 of this Current Report on Form 8-K under the headings 'Loan Agreement' and 'Deed of Hypothec' is incorporated by reference into this Item 2.03.