NeutriSci International | JGR Capital Research Note

Research Note 845 Third Avenue Fl 6, New York, NY 10022 (646) 688.3131 • research@jgrcap.com NEW YORK SÃO PAULO SHANGHAI January 16, 2018 NeutriSci International Inc. (TSXV: NU) Healthcare | Drugs - Specialty  NeutriSci announced that it entered an R&D Memorandum of Understanding (MOU) with Scientus Pharma Inc. to distribute a medical cannabinoid product through existing Canadian retail distribution networks.  Glen Rehman – previously President of NU – was promoted to CEO and NeutriSci completed a non-brokered private placement of ~$500k.  NeutriSci announced a one-year sponsorship agreement with Genie Bouchard, an international tennis star from Montreal, Quebec. Company Description NeutriSci International Inc. (“NU”) develops, markets, and distributes clinically-proven nutraceutical products in Canada. It focuses on the development of these products in areas including heart and cholesterol health, sleep deprivation, immune defense, andmen’s prostate and sexual health. NU’s website i s www.neutrisci.com, and it is headquartered in Calgary, Canada. 0 1,000,000 2,000,000 3,000,000 4,000,000 5,000,000 6,000,000 7,000,000 8,000,000 9,000,000 10,000,000 0.00 0.05 0.10 0.15 0.20 0.25 0.30 0.35 0.40 Jan-17 Feb-17 Mar-17 Apr-17 May-17 Jun-17 Jul-17 Aug-17 Sep-17 Oct-17 Nov-17 Dec-17 Jan-18 One-Year Price and Volume History Close Volume Key Data Key Financials ($mn) 52-Week Range ($) 0.35 – 0.06 FY14A FY15A FY16A Shares Outstanding (mn) 92.6 Revenue 0.026 0.024 0.125 Market Cap ($mn) 21.3 EBIT -4.270 -3.727 -2.586 3-Mo. Avg Volume (mn) 1.1 EBITDA -4.255 -3.716 -2.576 Total Cash ($mn) 0.032 Earnings -7.549 -3.739 -2.564 Total Debt ($mn) 0.119 CFF 2.408 2.300 1.764

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