FENNEC PHARMACEUTICALS INC. — Director's Dealing 2018

Mar 29, 2018

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: FENNEC PHARMACEUTICALS INC. (FENC)
CIK: 0001211583
Period of Report: 2016-01-27

Reporting Person: MANCHESTER MANAGEMENT PR, LLC (10% Owner)
Reporting Person: MANCHESTER MANAGEMENT CO LLC (10% Owner)
Reporting Person: Manchester Explorer, L.P. (10% Owner)
Reporting Person: BESSER JAMES E (10% Owner)
Reporting Person: FRANK MORGAN C. (10% Owner)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2018-03-08	Common Stock	S	10000	$9.12	Disposed	2146797	Indirect
2018-03-12	Common Stock	S	18560	$9.50	Disposed	2128237	Indirect
2018-03-13	Common Stock	S	16934	$9.27	Disposed	2111303	Indirect
2018-03-14	Common Stock	S	13600	$9.47	Disposed	2097703	Indirect
2018-03-16	Common Stock	S	6423	$9.52	Disposed	2091280	Indirect
2018-03-16	Common Stock	S	2120	$9.52	Disposed	2089160	Indirect
2018-03-16	Common Stock	S	2120	$9.52	Disposed	1672494	Direct
2018-03-19	Common Stock	S	200	$9.57	Disposed	2088960	Indirect
2018-03-19	Common Stock	S	200	$9.57	Disposed	1672294	Direct
2018-03-20	Common Stock	S	4200	$9.54	Disposed	2084760	Indirect
2018-03-20	Common Stock	S	4200	$9.54	Disposed	1668094	Direct
2018-03-20	Common Stock	S	15183	$9.70	Disposed	2069577	Indirect
2018-03-20	Common Stock	S	15183	$9.70	Disposed	1652911	Direct
2018-03-21	Common Stock	S	210311	$10.18	Disposed	1859266	Indirect
2018-03-21	Common Stock	S	210311	$10.18	Disposed	1442600	Direct
2018-03-22	Common Stock	S	20000	$10.76	Disposed	1839266	Indirect
2018-03-22	Common Stock	S	20000	$10.76	Disposed	1422600	Direct
2018-03-23	Common Stock	S	3500	$10.88	Disposed	1835766	Indirect
2018-03-23	Common Stock	S	3500	$10.88	Disposed	1419100	Direct
2018-03-27	Common Stock	S	22707	$11.34	Disposed	1813059	Indirect
2018-03-27	Common Stock	S	22707	$11.34	Disposed	1396393	Direct
2018-03-28	Common Stock	S	605	$11.65	Disposed	1812454	Indirect
2018-03-28	Common Stock	S	605	$11.65	Disposed	1395788	Direct
2018-03-28	Common Stock	S	145788	$11.50	Disposed	1666666	Indirect
2018-03-28	Common Stock	S	145788	$11.50	Disposed	1250000	Direct

Footnotes

F1: Manchester Management PR, LLC, a Puerto Rico limited liability company, provides investment management services to private individuals and institutions, including Manchester Explorer, L.P. The reported securities are indirectly beneficially owned by Manchester Management PR, LLC as a result of it having investment discretion over certain advisory accounts it manages and by Manchester Management Company, LLC as a result of it being the general partner over certain advisory accounts. The reported securities may also be deemed to be indirectly beneficially owned by James E. Besser, as the Managing Member of Manchester Management PR, LLC and as a Managing Member of Manchester Management Company, LLC, and by Morgan C. Frank, who serves as a portfolio manager and a consultant of Manchester Management Company, LLC.

F2: Each of the Reporting Persons disclaim beneficial ownership of the reported securities and warrants except to the extent of their pecuniary interest therein, and this report shall not be deemed an admission that such Reporting Persons are the beneficial owners of the securities and warrants for purposes of Section 16 of the Securities Exchange Act of 1934, as amended, or for any other purpose.

F3: The reported securities are directly owned by Manchester Explorer, L.P., a Delaware limited partnership.