UNDERWRITING AGREEMENTUnderwriting Agreement • May 18th, 2009 • Oncolytics Biotech Inc • Pharmaceutical preparations • Alberta
Bolder Investment Partners, Ltd. (the “Underwriter”) hereby offers to purchase from Oncolytics Biotech Inc. (the “Company”) up to 3,000,000 units of the Company (the “Units”) at a price of $2.00 per Unit (the “Offering Price”) for gross proceeds to the Company of up to $6,000,000. Each Unit shall consist of one common share (a “Unit Share”) and one common share purchase warrant (a “Unit Warrant”) of the Company. Each Unit Warrant shall be exercisable into one common share of the Company (a “Unit Warrant Share”) for a period of 36 months from the Closing Date (as defined in Section 5 below) at an exercise price of $2.40 per share, provided that, if, on any date (the “Accelerated Exercise Date”) the 10-day volume-weighted average trading price of the common shares of the Company (the “Common Shares”) on the Toronto Stock Exchange exceeds $3.35 per share, then, at the Company’s sole discretion and upon the Company sending the holders of the Unit Warrants written notice of such Accelerated
