VANCOUVER, British Columbia, July 21, 2023 (GLOBE NEWSWIRE) -- Mydecine Innovations Group Inc. (“Mydecine” or the “Company”) (NEO:MYCO) (OTC:MYCOF) (FSE:0NFA) a biotechnology company engineering the next wave of innovative medications and treatment protocols to directly address mental health with a particular emphasis on addiction and PTSD, is pleased to announce that John Ross, the Company’s current Chief Financial Officer has been appointed as Corporate Secretary, effective immediately.

The Company also announces that Mr. Todd Heinzl has resigned from the board of directors of the Company, effective immediately, to pursue other endeavors.

Mr. Ross is a senior financial management professional with more than 30 years of private and public company experience. He was first appointed as the Chief Financial Officer of the Company on September 16, 2022.

AboutMydecineInnovationsGroupInc.

Mydecine Innovations Group™ (NEO: MYCO) (OTC: MYCOF) (FSE: 0NFA) is a biotechnology company developing the next generation of innovative medications and therapies to address mental health disorders such as nicotine addiction and post-traumatic stress disorder (PTSD). The core strategy blends advanced technology with an elaborate infrastructure for drug discovery and development. Mydecine's dedicated multinational team constantly develops new paths for breakthrough treatment solutions in areas with considerable unmet needs. By collaborating with some of the world's leading specialists, the Company aspires to responsibly speed up the development of breakthrough medications to provide patients with safer and more effective treatment solutions. At the same time, Mydecine's approach focuses on the next generation of psychedelic medicine by creating innovative compounds with unmatched therapeutic potential through its clinical trial efforts with world-class scientific and regulatory expertise. Founded in 2020, Mydecine is based out of Colorado, USA, with extended offices in Alberta, Canada, and Leiden, Netherlands.

Learn more at: https://www.mydecine.com/ and follow the company on Twitter, LinkedIn, YouTube, and Instagram.

Formoreinformation,pleasecontact:

MediaContact
pr@mydecineinc.com

InvestorRelations
investorrelations@mydecineinc.com

OnbehalfoftheBoardof Directors

Joshua Bartch, Chief Executive Officer
contact@mydecineinc.com

For further information about Mydecine, please visit the Company’s profile on SEDAR at https://sedar.com/ or visit the Company’s website at https://www.mydecine.com/.

Forward-LookingStatements

Certain statements in this news release constitute “forward-looking information” within the meaning of applicable Canadian securities legislation. Forward-looking statements and information are provided for the purpose of providing informationaboutmanagement’sexpectationsandplansrelatingtothefuture.Alloftheforward-lookinginformationmade inthisnewsreleaseisqualifiedbythecautionarystatementsbelowandthosemadeinourotherfilingswiththesecurities regulators in Canada. Forward-looking information contained in forward-looking statements can be identified by the use of words such as “are expected,” “is forecast,” “is targeted,” “approximately,” “plans,” “anticipates,” “projects,” “anticipates,”“continue,”“estimate,”“believe”orvariationsofsuchwordsandphrasesorstatementsthatcertainactions, events or results “may,” “could,” “would,” “might,” or “will” be taken, occur or be achieved. All statements, other than statementsofhistoricalfact,maybeconsideredtobeorincludeforward-lookinginformation.Readersarecautionedthat theseforward-lookingstatementsare neither promises nor guarantees, and are subject to risks and uncertainties that maycausefutureresultsto differ materially from those expected. Although the Company has attempted to identify important factorsthatcouldcauseactualresultstodiffermateriallyfromthosecontainedinforward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information.

The forward-looking information set forth herein reflects the Company’s reasonable expectations as at the date of this news release and is subject to change after such date. The Company disclaims any intention or obligation to update or revise anyforward-looking information, whetheras a result of new information, futureevents orotherwise, otherthan as required by law. The forward-looking information contained in this news release is expressly qualified by this cautionary statement.