Mr. Ahmad Doroudian reports

BETTERLIFE PHARMA INC. ANNOUNCES PROPOSED PUBLIC OFFERING OF COMMON SHARES AND PRE-FUNDED WARRANTS

Betterlife Pharma Inc. has filed a preliminary short form prospectus with the securities regulatory authorities in the provinces of British Columbia, Alberta and Ontario in connection with an offering of common shares of the company and/or prefunded common share purchase warrants of the company in lieu of common shares.

The offering is expected to be completed on a commercially reasonable effort agency basis pursuant to an agency agreement to be entered into between the company, Bloom Burton Securities Inc. and Haywood Securities Inc. The number of securities to be distributed, the size of the offering, and the price of each common share and prefunded warrant will be determined by negotiation between the company and the agents in the context of the market with final terms to be determined at the time of pricing.

The company intends to use the net proceeds from the offering to: (i) conduct phase 1A studies in healthy humans; (ii) conduct phase 1B clinical trials for cluster headache and migraine in parallel, rather than sequentially; (iii) conduct phase 2 clinical trials for cluster headache and migraine; and (iv) initiate a postphase 2 registration study for cluster headache. The company also intends to use the net proceeds for working capital and other general corporate purposes.

The offering is expected to close on or about Sept. 15, 2026, or such later date as may be agreed upon by the company and the agents. The offering is subject to the company and the agents entering into a definitive agency agreement and subject to satisfaction of customary closing conditions, including the receipt of all necessary regulatory and stock exchange approvals, including approval of the Canadian Securities Exchange.

In addition, the securities are anticipated to be offered by way of private placement in certain jurisdictions outside of Canada pursuant to and in compliance with applicable securities laws.

For further details with respect to the offering, please see the preliminary prospectus, a copy of which is available on SEDAR+.

Access to the preliminary prospectus and any amendments to such document will be provided in accordance with securities legislation relating to procedures for providing access to a short form prospectus and any amendment thereto. The preliminary prospectus is accessible on SEDAR+. Alternatively, an electronic or paper copy of the preliminary prospectus and any amendment to such document may be obtained without charge from Bloom Burton by e-mail at ECM@bloomburton.com, by telephone at 416-640-7585, or by providing the contact with an e-mail address or address, as applicable. The preliminary prospectus contains important, detailed information about the company and the offering. Prospective investors should read the preliminary prospectus before making an investment decision.

About Betterlife Pharma Inc.

Betterlife is an emerging biotechnology company primarily focused on developing and commercializing BETR-001 to treat various neurological disorders. BETR-001, which is in preclinical and IND-enabling studies, is a non-hallucinogenic and non-controlled LSD derivative in development, and is unique in that it is unregulated and therefore can be self-administered. Betterlife's synthesis patent for BETR-001 eliminates controlled substance manufacturing hurdles and its pending patent, for composition and method of use, and covers treatment of various neurological disorders until around 2042. Betterlife also owns a drug candidate for the treatment of viral infections and is in the process of seeking strategic alternatives for further development.

We seek Safe Harbor.