Innovus Pharmaceuticals Announces $3.17 Million Private Placement

SAN DIEGO–(BUSINESS WIRE)–Innovus Pharmaceuticals, Inc. (OTCQB: INNV) (“Innovus Pharma” or the
“Company”), an emerging commercial-stage pharmaceutical company that
delivers safe, innovative and effective over-the-counter medicine and
consumer care products to improve men’s and women’s health and
respiratory diseases, today announced that it has entered into a
definitive agreement with a healthcare-dedicated institutional investor
for the sale of 45,306,347 shares of common stock (or common stock
equivalents), series A warrants to purchase up to 45,306,347 shares of
common stock and series B warrants to purchase up to 45,306,347 shares
of common stock in a private placement at a price of $0.07 per share and
associated warrants for gross proceeds of approximately $3.17 million.
The transaction is anticipated to close on or about January 3, 2019,
subject to customary closing conditions.

H.C. Wainwright Co. is acting as the exclusive placement agent for the
offering.

The series A warrants are exercisable immediately with a term of 18
months following the effectuation of a reverse stock split by the
Company and an exercise price of $0.07 and the series B warrants are
exercisable immediately with a term of 5½ years following the
effectuation of a reverse stock split by the Company and an exercise
price of $0.08 per share.

The net proceeds from the offering are anticipated to be approximately
$2.765 million. The Company intends to use the net proceeds for working
capital and general corporate purposes. The Company has agreed to file a
resale registration statement for the shares of common stock and the
shares of common stock underlying the warrants issued in the offering
within 30 days pursuant to a registration rights agreement.

The securities sold in the private placement have not been registered
under the Securities Act of 1933, as amended, or state securities laws
and may not be offered or sold in the United States absent registration
with the Securities and Exchange Commission (SEC) or an applicable
exemption from such registration requirements.

This press release shall not constitute an offer to sell or the
solicitation of an offer to buy these securities, nor shall there be any
sale of these securities in any jurisdiction in which such offer,
solicitation or sale would be unlawful prior to the registration or
qualification under the securities laws of any such jurisdiction.

Further information regarding the private placement can be found in the
Current Report on Form 8-K that will be filed by the Company with the
SEC.

About Innovus Pharmaceuticals, Inc.

Headquartered in San Diego, Innovus Pharma is an emerging OTC consumer
goods and specialty pharmaceutical company engaged in the
commercialization, licensing and development of safe and effective
non-prescription medicine and consumer care products to improve men’s
and women’s health and vitality and respiratory diseases. Innovus Pharma
delivers innovative and uniquely presented and packaged health solutions
through its (a) OTC medicines and consumer and health products, which we
market directly; (b) commercial partners to primary care physicians,
urologists, gynecologists and therapists; and (c) directly to consumers
through our on-line channels, retailers and wholesalers. The Company is
dedicated to being a leader in developing and marketing new OTC and
branded Abbreviated New Drug Application (“ANDA”) products. The Company
is actively pursuing opportunities where existing prescription drugs
have recently, or are expected to, change from prescription (or Rx) to
OTC.

Forward-Looking Statements

Statements under the Private Securities Litigation Reform Act, as
amended: With the exception of the historical information contained in
this release, the matters described herein contain forward-looking
statements that involve risks and uncertainties that may individually or
mutually impact the matters herein described for a variety of reasons
that are outside the control of the Company, including, but not limited
to, the ability of the Company to increase its authorized shares of
common stock, raise additional capital, receive projected revenues from
the future sales of products, estimated market for its products, and
statements about achieving its other development, growth,
commercialization, financial and staffing objectives. Readers are
cautioned not to place undue reliance on these forward-looking
statements as actual results could differ materially from the
forward-looking statements contained herein. Readers are urged to read
the risk factors set forth in the Company’s most recent annual report on
Form 10-K, subsequent quarterly reports filed on Form 10-Q, current
reports on Form 8-K, and other filings made with the SEC. Copies of
these reports are available from the SEC’s website or without charge
from the Company.

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