Tribute Pharmaceuticals Canada Inc. Closes $30 Million Unit Financing

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN
THE UNITED STATES


Tribute Pharmaceuticals Canada Inc. ("Tribute" or the "Company") (TSX
VENTURE:TRX)(OTCQB:TBUFF), is pleased to announce that it has closed its
previously announced public offering of units (the "Offering") with a syndicate
of underwriters led by Dundee Securities Ltd., and including Mackie Research
Capital Corporation (together, the "Underwriters").


The Offering consists of 42,895,000 units (the "Units") of the Company,
including the full exercise of the 5,595,000 Unit over-allotment option. Each
Unit consists of one common share and one-half of one common share purchase
warrant (each, a "Warrant" and together, the "Warrants") at a price per Unit of
$0.70 (the "Offering Price") for aggregate gross proceeds of $30,026,500. Each
Warrant entitles the holder thereof to acquire one common share of the Company
at a price per share of $0.90 for a period of 24 months following the issuance
thereof.


In connection with the Offering, Bloom Burton & Co Inc. and BayFront Capital
Partners, Ltd. were appointed as selling group members.


In connection with the Offering, the Underwriters received a cash commission of
$2,251,987.50 (equal to 7.5% of the gross proceeds raised under the Offering)
and 3,217,125 broker warrants ("Broker Warrants") (equal to 7.5% of the number
of Units sold). Each Broker Warrant is exercisable into one Unit of the Company
for a period of 24 months from the closing of the Offering at a price equal to
the Offering Price.


The net proceeds of the Offering will be used to source, negotiate and enter
into future acquisitions and licenses of health care products and/or companies
in the health care industry that are complementary to and/or consistent with the
Company's current product portfolio and may include repayment or partial
repayment of debt and general corporate purposes.


The securities offered have not been registered under the U.S. Securities Act of
1933, as amended (the "U.S. Securities Act"), or applicable state securities
laws, and may not be offered or sold to, or for the account or benefit of,
persons in the United States or "U.S. Persons", as such term is defined in
Regulation S under the U.S. Securities Act, absent registration 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 nor shall
there be any sale of the securities in the United States or any jurisdiction in
which such offer, solicitation or sale would be unlawful.


About Tribute Pharmaceuticals Canada Inc.

Tribute is a specialty pharmaceutical company with a primary focus on the
acquisition, licensing, development and promotion of healthcare products in
Canada and the U.S. markets.


Tribute markets Cambia(R) (diclofenac potassium for oral solution), Bezalip(R)
SR (bezafibrate), Soriatane(R) (acitretin), NeoVisc(R) (1.0% sodium hyaluronate
solution) Uracyst(R) (sodium chondroitin sulfate solution 2%) and Collatamp G(R)
in the Canadian market. Additionally, NeoVisc(R) and Uracyst(R) are commercially
available and are sold globally through various international partnerships.
Tribute also has the exclusive U.S. rights to develop and commercialize
Bezalip(R) SR in the U.S. and has the exclusive right to sell bilastine a
product licensed from Faes Farma for the treatment of Allergic Rhinitis and
Chronic Idiopathic Urticaria (hives) in Canada. The exclusive license is
inclusive of prescription and non- prescription rights for bilastine, as well as
adult and pediatric presentations in Canada. This product is subject to
receiving Canadian regulatory approval.


Tribute Pharmaceuticals' Forward Looking Statement

This press release contains certain forward-looking statements under applicable
securities laws about Tribute which statements can be identified by the use of
forward- looking terminology, such as "may", "will", "expect", "intend",
"anticipate", "estimate", "predict", "plan" or "continue" or the negative
thereof or other variations thereon or comparable terminology referring to
future events or future performance. Forward-looking statements, by their
nature, are subject to risks and uncertainties, Tribute actual results could
differ materially from those anticipated in these forward-looking statements as
a result of numerous factors, any of which could cause actual results to vary
materially from current results or anticipated future results. See Tribute
reports filed with the Canadian Securities Regulatory Authorities and the U.S.
Securities and Exchange Commission from time to time for cautionary statements
identifying important factors with respect to such forward-looking statements,
including certain risks and uncertainties that could cause actual results to
differ materially from results referred to in forward-looking statements.
Tribute assumes no obligation to update the information contained in this press
release to update forward-looking statements to reflect changed assumptions, the
occurrence of anticipated events or changes in future operating results,
financial condition or business over time.


Bezalip(R) SR and Soriatane(R) are registered trademarks and under license from
Actavis Group PTC ehf. Cambia(R) is a registered trademark and under license
from Depomed, Inc. Collatamp G(R) is a registered trademark and under license
EUSA Pharma (Europe) Limited.


For further information on Tribute visit the Company's website:
http://www.tributepharma.com


Neither TSX Venture Exchange nor its Regulation Services Provider (as that term
is defined in policies of the TSX Venture Exchange) accepts responsibility for
the adequacy or accuracy of this release.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Tribute Pharmaceuticals Canada Inc.
Scott Langille
CFO
905-876-3166
[e-mail]


Kevin Fickle
President, Nuwa Group LLC
[phone]
[e-mail]