Calgary – October 12, 2026 -- XORTX Therapeutics Inc. (NASDAQ: XRTX | TSXV: XRTX) has rescinded a US$2.5 million investor relations agreement with IR Agency LLC and recovered the full fee. The company is postponing its marketing push while it exits the TSX Venture Exchange.
XORTX terminates 90-day IR contract effective August 7, 2026
The agreement, dated May 13, 2026, ran for 90 days from May 18, 2026. It covered 10 marketing days of news distribution campaigns for an aggregate fee of US$2.5 million, payable in advance. The fee had been fully earned on receipt and was non-refundable.
Both parties agreed to rescind the arrangement, and all services under it have been discontinued. The funds were returned to XORTX in August 2026. The release cites both August 7 and August 14 as the return date.
The fee was funded from the US$5 million public offering that closed on May 19, 2026. The company had allocated US$2.5 million of the proceeds, half the offering, to IR Agency LLC for marketing and advertising services.
XORTX expects TSXV delisting to take effect September 1, 2026
The company is postponing the investor relations program until its voluntary TSXV delisting is complete. The delisting remains subject to final TSXV approval. XORTX previously determined that a dual listing does not justify the costs and administrative requirements, and that it creates challenges from differing regulatory environments.
Management says the postponement supports its aim of reducing regulatory complexity and focusing resources on business and clinical development programs. XORTX intends to re-engage IR Agency LLC after the delisting, when management and the board consider it appropriate.
Computershare replaces TSX Trust as transfer agent on September 1
Also effective September 1, 2026, Computershare Investor Services Inc. becomes transfer agent and registrar, replacing TSX Trust Company. Shareholders need not take any action.
XORTX discloses US$240,000 in finder's fees on Vectus acquisition
In a corrective disclosure, XORTX said it paid aggregate cash finder's fees of US$240,000 on its acquisition of Vectus Biosystems Limited's Renal Anti-Fibrotic Therapeutic Program, which closed on April 13, 2026. The figure was inadvertently omitted from the April 13, 2026 closing announcement.