Novelion Therapeutics Ceases to be a Reporting Issuer in Canada

Novelion Therapeutics Inc. (“Novelion” or the “Company”) by Alvarez & Marsal Canada Inc., Novelion’s court appointed liquidator (the “Liquidator”) announces that it has ceased to be a reporting issuer under Canadian securities legislation in each of the provinces of Canada as a result of an order issued by the British Columbia Securities Commission on behalf of itself and other Canadian securities regulatory authorities. The order was issued in response to an application made by Novelion and accordingly, Novelion will no longer be required to file financial statements or other continuous disclosure documents with Canadian securities regulatory authorities.

A copy of the order is available on the website established by the Liquidator at www.alvarezandmarsal.com/novelion.

The Liquidator, on behalf of Novelion, intends to issue news releases or provide other material updates related to the status of the liquidation, including on current reports on Form 8-K to be filed with the U.S. Securities and Exchange Commission (the “Commission”), on an as needed basis to keep shareholders apprised of the progress of the liquidation. Novelion does not intend to file any financial statements or any periodic or other reports or filings with the Commission, except for the aforementioned current reports. Shareholders are encouraged to check www.alvarezandmarsal.com/novelion from time to time for updates.

As noted in Novelion’s June 12, 2020 press release, the Liquidator continues to believe that Novelion will be able to complete distributions in the fourth quarter of 2020, subject to the resolution of claims and other ongoing administrative matters including the finalization of tax returns and related matters in Canada and the U.S.

CONTACT:

Nishant Virmani
Alvarez & Marsal Canada Inc.
nvirmani@alvarezandmarsal.com
www.alvarezandmarsal.com/novelion