Dexxon Holdings Ltd.: Early Warning Report Issued Pursuant to National Instrument 62-103

MONTRÉAL, QUEBEC--(Marketwired - April 6, 2015) - This press release is issued by Dexxon Holdings Ltd. (the "Offeror"), pursuant to the early warning requirements of applicable securities legislation and National Instrument 62-103 - The Early Warning System and Related Take-Over Bid and Insider Reporting Issues with respect to common shares ("Common Shares") in the capital of Cynapsus Therapeutics Inc. (the "Company").

On March 30, 2015, the Offeror acquired ownership of 4,342,105 Common Shares in the capital of the Company in consideration for the payment by the Offeror of CAD$4,133,684 pursuant to and in accordance with the terms of a subscription agreement between the Offeror and the Company. The acquisition of the Offeror of the Common Shares resulted in the Offeror ownership of approximately 16% of all the issued and outstanding Common Shares on a non-fully diluted basis. Following completion of the purchase of the Common Shares, the Offeror owns or controls 18,104,647 Common Shares of the Company.

The Common Shares were acquired by the Offeror through a private placement pursuant to Section 2.3 ("accredited investor") of National Instrument 45-16 - Prospectus and Registration Exemptions. The Common Shares were acquired at a price of CAD$0.95 per Common Share and are subject to a hold period, which will expire four months plus one day from the date of issue.

The Common Shares were purchased by the Offeror for investment purposes. The Offeror may in the future take such actions in respect of its holdings in the Company as it may deem appropriate in light of the circumstances then existing, including the purchase of additional common shares, warrants or other securities of the Company through open market purchases or privately negotiated transactions or the sale of all or a portion of the Offeror's holdings in the open market or in privately negotiated transactions to one or more purchasers, subject in each case to applicable securities laws.

A copy of the early warning report filed under applicable securities legislation in connection with the purchase of the Common Shares is available under the Company's profile on the SEDAR website at www.sedar.com.

Dexxon Holdings Ltd.

By: Dan Oren

Name: Dan Oren

Title: Director