Cynapsus Therapeutics Files Preliminary Short Form Prospectus

/NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE
UNITED STATES/


Cynapsus Therapeutics Inc. (TSX VENTURE:CTH)(OTCQX:CYNAF), a specialty
pharmaceutical company, announced today that it has filed a preliminary short
form prospectus (the "Prospectus") with the securities regulatory authorities in
the Provinces of British Columbia, Alberta and Ontario in connection with a best
efforts offering of common shares and warrants of Cynapsus for gross proceeds of
$15 million to $25 million (the "Offering"). Final pricing and determination of
the number of common shares and warrants to be sold pursuant to the Offering
will occur immediately prior to the filing of the final short form prospectus in
respect of the Offering.


The Company has retained M Partners Inc. to lead the Offering (the "Agent"). An
agency agreement for the Offering will be entered into by the Company and the
Agent.


Closing of the Offering is subject to final pricing and TSX Venture Exchange
approval. The net proceeds of the Offering will be used to fund research and
development activities for the Company's APL-130277 Parkinson's disease drug
candidate and for general working capital purposes. The first closing of the
Offering is expected to close on or about April 18, 2014.


This press release does not constitute an offer to sell or a solicitation to buy
any of the securities in the United States. The securities have not been and
will not be registered under the United States Securities Act of 1933, as
amended (the "U.S. Securities Act"), or any state securities law 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 promulgated
under the U.S. Securities Act, unless registered under the U.S. Securities Act
and applicable state securities laws or an exemption from such registration
requirements is available.


Neither of the TSX Venture Exchange or OTCQX has passed upon the merits of the
proposed Offering and has neither approved nor disapproved the contents of this
press release.


About Cynapsus Therapeutics

Cynapsus is a specialty pharmaceutical company developing a convenient and easy
to use sublingual (oral) thin film strip for the acute rescue of "off" motor
symptoms of Parkinson's disease. Cynapsus' drug candidate, APL-130277, is an
easy-to-administer, fast-acting reformulation of apomorphine, which is the only
approved drug (in the United States, Europe, Japan and other countries) to
rescue patients from "off" episodes. Cynapsus is focused on maximizing the value
of APL-130277 by completing pivotal studies in advance of a New Drug Application
("NDA") expected to be submitted in 2016.


Over one million people in the U.S. and an estimated 4 to 6 million people
globally suffer from Parkinson's disease. Parkinson's disease is a chronic and
progressive neurodegenerative disease that impacts motor activity, and its
prevalence is increasing with the aging of the population. Based on a recent
study and the results of the Company's Global 500 Neurologists Survey, it is
estimated that between 25 percent and 50 percent of patients experience "OFF"
episodes in which they have impaired movement or speaking capabilities. Current
medications only control the disease's symptoms, and most drugs become less
effective over time as the disease progresses.


More information about Cynapsus (TSX VENTURE:CTH)(OTCQX:CYNAF) is available at
www.cynapsus.ca and at the System for Electronic Document Analysis and Retrieval
(SEDAR) at www.sedar.com.


Forward Looking Statements

This announcement contains "forward-looking statements" within the meaning of
applicable securities laws. Generally, these forward-looking statements can be
identified by the use of forward-looking terminology such as "plans", "expects"
or "does not expect", "is expected", "budget", "scheduled", "estimates",
"forecasts", "intends", "anticipates" or "does not anticipate", or "believes" or
variations of such words and phrases or state that certain actions, events or
results "may", "could", "would", "might" or "will be taken", "occur" or "be
achieved". Forward-looking statements are subject to known and unknown risks,
uncertainties and other factors that may cause the actual results, level of
activity, performance or achievements of Cynapsus to be materially different
from those expressed or implied by such forward-looking statements, including
but not limited to those risks and uncertainties relating to Cynapsus' business
disclosed under the heading "Risk Factors" in its March 26, 2014 Annual
Information Form and its other filings with the various Canadian securities
regulators which are available online at www.sedar.com. Although Cynapsus has
attempted to identify important factors that could cause actual results to
differ materially from those contained in forward-looking statements, there may
be other factors that cause results not to be as anticipated, estimated or
intended. There can be no assurance that such statements will prove to be
accurate, as actual results and future events could differ materially from those
anticipated in such statements. Accordingly, readers should not place undue
reliance on forward-looking statements. Cynapsus does not undertake to update
any forward-looking statements, except in accordance with applicable securities
laws.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Cynapsus Therapeutics
Anthony Giovinazzo
President and CEO
[phone] x225
[e-mail]


Cynapsus Therapeutics
Andrew Williams
COO & CFO
[phone] x253
[e-mail]
www.cynapsus.ca