IGXT SHORT SELLERS

RECENT IGXT NEWS

GlobeNewswire•last month

RedHill Biopharma and IntelGenx Announce RIZAPORT®

Commercialization Term Sheet

with Pharmatronic Co. for Korea RIZAPORT ® (5 mg and 10 mg)

was granted marketing approval in

Germany under the European Decentralized Procedure (DCP)

This binding term sheet for the license of RIZAPORT ® in South

Korea follows a recent ...

Marketwired•last month

IntelGenx and RedHill Biopharma Announce RIZAPORT(R)

Commercialization Term Sheet

with Pharmatronic Co. for Korea IntelGenx Corp. , and RedHill

Biopharma Ltd. , today announced

that they have entered into a binding term sheet agreement with

Pharmatronic Co. granting

Pharmatronic Co. the exclusive license to commercialize ...

GlobeNewswire•last month

RedHill Biopharma and IntelGenx

Announce RIZAPORT® Commercialization Term Sheet

with Pharmatronic Co. for Korea

K E Y D A T A P O I N T S I N S I D E

Daily Short Volume

Naked Short Volume

Market Maker Friction

OV E RV I E W O F I G X T S H O R T S A L E DATA

After careful analysis of

IGXT short sale, naked

short sale and market

maker friction factor

data it is clear that IGXT

has had issues with

short sellers who have

been especially

aggressive since mid

2011. Short sellers have

been building a sizable

position in shares of

IGXT as a percentage of

total trading volume and

market makers have

made a bearish market

lately. New evidence of

daily short sellers

shorting shares of IGXT

has now come to light

as the SEC has finally

given Buyins.net access

to DAILY short sale data

which is updated every

night. Protecting IGXT

from abusive shorting is

a high priority.

Starting in mid 2011 short sellers have aggressively shorted IGXT. Shorts have continued this

activity which warrants further investigation. Buyins.net will report the results of its

surveillance on a monthly basis.

DIRECTOR OF RESEARCH: Thomas Ronk PH (800) 715-9999 EMAIL: tomronk@gmail.com DATE:10-29-2016

BUYINS.NET offers a

proprietary research and

t r a d i n g s e r v i c e

uncovering illegal naked

short selling in stocks on

the NYSE, AMEX,

NASDAQ, OTCBB and

PINKSHEETS. For more

information please visit

www.buyins.net

DAILY FAILURE TO DELIVER DATA (NAKED SHORTS) IN IGXT

Failures to Deliver in IGXT have occurred as short sellers have been lax at complying with

Regulation SHO since mid 2007. Buyins.net will continue to monitor and report short

sellers for non-compliance with Regulation SHO borrow requirements.

NEW DAILY SHORT SALE TRADING VOLUME STARTING 8-3-09

Shorts have been shorting IGXT on a daily basis. An average of 32.42% of daily trading

volume is short selling. This is higher than what is considered normal.

DAILY SHORT VOLUME CHART BELOW SHOWS AGGREGATE EXEMPT & NON-EXEMPT SHORT SALES

Date ShortVolume TotalVolume Percent SqueezeTrigger $Value

10/28/2016 19,784 78,722 25.13% $0.7630 $15,095

10/27/2016 24,337 83,687 29.08% $0.7576 $18,447

10/26/2016 55,412 118,117 46.91% $0.7513 $41,614

10/25/2016 16,864 132,255 12.75% $0.7504 $12,648

10/24/2016 16,900 116,786 14.47% $0.7253 $12,253

10/21/2016 1,414 60,245 2.35% $0.7337 $1,038

10/20/2016 38,682 75,453 51.27% $0.7457 $28,857

10/19/2016 39,361 86,119 45.71% $0.7267 $28,615

10/18/2016 33,700 85,705 39.32% $0.7200 $24,264

10/17/2016 250 47,696 0.52% $0.7221 $181

10/14/2016 18,000 59,400 30.30% $0.7185 $12,942

10/13/2016 1,000 54,470 1.84% $0.7161 $716

10/12/2016 9,609 39,442 24.36% $0.7127 $6,851

10/11/2016 4,585 27,725 16.54% $0.7173 $3,287

10/10/2016 84,758 218,757 38.75% $0.7034 $59,585

10/7/2016 7,960 71,182 11.18% $0.7400 $5,890

10/6/2016 9,585 17,756 53.98% $0.7418 $7,112

10/5/2016 5,100 33,409 15.27% $0.7289 $3,718

10/4/2016 70,759 131,812 53.68% $0.7231 $51,159

10/3/2016 4,025 74,529 5.40% $0.7368 $2,966

9/30/2016 49,200 219,717 22.39% $0.7326 $36,064

9/29/2016 44,711 128,873 34.69% $0.7624 $34,070

9/28/2016 50,022 226,518 22.08% $0.7615 $38,117

9/27/2016 2,500 34,831 7.18% $0.7710 $1,928

9/26/2016 15,064 187,654 8.03% $0.7695 $11,599

9/23/2016 57,816 157,033 36.82% $0.8107 $46,889

9/22/2016 72,194 170,098 42.44% $0.7796 $56,311

9/21/2016 46,013 121,323 37.93% $0.7919 $36,442

9/20/2016 57,517 287,719 19.99% $0.7697 $44,288

9/19/2016 8,694 42,062 20.67% $0.8212 $7,138

9/16/2016 66,555 138,409 48.09% $0.7956 $52,978

9/15/2016 109,209 203,918 53.56% $0.7731 $84,419

9/14/2016 232,905 722,819 32.22% $0.7175 $167,226

9/13/2016 246,756 827,796 29.81% $0.7652 $188,768

9/12/2016 171,108 588,161 29.09% $0.8639 $147,837

Total 125,051,472 385,696,593 32.42% $0.7062 $88,305,213

*Total includes data back to 8-3-09. Chart truncated for viewing.

MARKET MAKER SURVEILLANCE SYSTEM (FRICTION FACTOR)

The above data is used to calculate if a fair market is being made in the shares

of IGXT. 39% of recent trading days are positive or bullishly biased and 61%

of trading days are negative or bearishly biased. There is a bearish market

being made in IGXT in the past 38 trading days.

Friction Factor determines if there is normal or abnormal behavior in the price

action of the stock when compared to the buying vs. selling trading statistics. It

calculates number of net shares of buying or selling to move price +/- one cent.

Here is how to understand Friction Factor:

1. If Friction Factor is positive, more buying than selling caused IGXT’s price

to rise

2. If Friction Factor is negative, more selling than buying caused IGXT’s price

to fall

3. If Friction Factor is 0, there was no discernable activity either way

4. If Friction Factor is abnormal, it means that there is either a bearish bias or

a bullish bias to how market makers are making market in your stock.

NEWPORT BEACH, CA

Phone: 800-715-9999

Fax: 815-328-0698

Email: tom@buyins.net

WWW.BUYINS.NET BUYINS.NET WILL ISSUE A VARIETY OF REPORTS ON IGXT

Trading Solutions to

Naked Short Selling

All material herein was prepared by

B U Y IN S . N E T, b a s ed u p o n

information believed to be reliable. The information contained herein is

not guaranteed by BUYINS.NET to

be accurate, and should not be considered to be all-inclusive. The

companies that are discussed in this

opinion have not approved the statements made in this opinion. This

opinion contains forward-looking

statements that involve risks and uncertainties. This material is for

informational purposes only and

should not be construed as an offer or solicitation of an offer to buy or sell

securities. BUYINS.NET is not a

licensed broker, broker dealer, market m a k e r , i n v es t m en t b a n k e r ,

investment advisor, analyst or

underwriter. Please consult a broker before purchasing or selling any

securities viewed on or mentioned

herein. BUYINS.NET may receive compensation in cash or shares from

independent third parties or from the

c o m p a n i e s m e n t i o n e d .

BUYINS.NET affiliates, officers,

directors and employees have not bought shares of stock discussed in

this opinion but the Company has

paid BUYINS.COM $1,333 per month for data provided in six

monthly reports. Market commentary

p r o v i d e d b y T o m R o n k .

BUYINS.NET will not advise as to when it decides to sell and does not

and will not offer any opinion as to

when others should sell; each investor must make that decision

based on his or her judgment.

All Rights Reserved. Copyright 2016

BUYINS.COM, Inc.

WHY BUYINS.NET IS BEST CHOICE FOR IGXT MARKET INTEGRITY

The data we provide is extremely useful for IGXT for the following reasons:

1. Stop naked short selling in shares of IGXT

2. Break the market maker hold on Level II box causing so much price friction

3. Our SqueezeTrigger Reports that cross newswires and are sent to our 750,000

users help break the rest of the shorts

4. Discourage new short sellers from shorting your stock

5. Stop the negative perception that dropping stock price places on normal day

to day business operations

6. Combined all of these facets help to stop the daily drain that the short attacks

have on the company.

Here is a quick technology overview:

http://www.buyins.com/brochure.pdf

Background information on our CEO:

http://www.buyins.com/images/tomronk.pdf

REGULATORY & COMPLIANCE NEWS

• Friction Factor – market maker surveillance system tracking Level II market

makers in all stocks to determine Price Friction and compliance with new “Fair

Market Making Requirements”

• RegSHO Naked Shorts – tracks EVERY failure to deliver in all US stocks

and tracks all Threshold Security Lists daily for which stocks have naked shorts

that are not in compliance with Regulation SHO

INVESTMENTS & TRADING

• SqueezeTrigger – 40 billion cell database tracks EVERY short sale (not just

total short interest) in all US stocks and calculates volume weighted price that a

short squeeze will begin in each stock

• Earnings Edge – predicts probability, price move and length of move before

and after all US stock earnings reports

• Seasonality – predicts probability, price move and length of move based on

exact time of year for all US stocks

• Group Trader – tracks sector rotation and stock correlation to its sector and

predicts future moves in ALL sectors and industry groups

• Pattern Scan – automates tracking of every technical pattern and predicts time

and size of move in all stocks

• GATS (Global Automated Trading System) – tracks all known trading

strategies and qualifies and quantifies which are working best in real time