Mr. George Tziras of Small Pharma reports

SMALL PHARMA OBTAINS FINAL ORDER APPROVING ARRANGEMENT

Small Pharma Inc. has obtained a final order of the Supreme Court of British Columbia, approving the previously announced plan of arrangement with Cybin Inc. under Division 5 of Part 9 of the Business Corporations Act (British Columbia).

Pursuant to the terms of the plan of arrangement and in accordance with the terms of the arrangement agreement dated Aug. 28, 2023, between Small Pharma and Cybin, Cybin has agreed to acquire all of the issued and outstanding securities of Small Pharma in an all-share transaction.

It is currently anticipated that the effective date of the arrangement will occur on or about Oct. 23, 2023, upon the satisfaction or waiver of customary closing conditions as set forth in the arrangement agreement, which include, among other things, the receipt of final approval of the arrangement from the TSX Venture Exchange.

Upon completion of the arrangement, it is expected that the common shares in the capital of Small Pharma will be delisted from the TSX-V and removed from the OTCQB Venture Market, and Small Pharma will cease to be a reporting issuer in each of the provinces and territories in Canada.

Further details with respect to the arrangement are included in the management information circular of Small Pharma dated Sept. 13, 2023, which can be found on Small Pharma's profile on SEDAR+, and the management information circular of Cybin dated Sept. 13, 2023, which can be found on Cybin's profile on SEDAR+ and with the U.S. Securities and Exchange Commission on EDGAR.

About Small Pharma Inc.

Small Pharma is a biotechnology company progressing a pipeline of short-duration psychedelic-assisted therapies for the treatment of mental health conditions. Small Pharma has a portfolio of clinical-stage N,N-dimethyltryptamine (DMT)-based assets, SPL026 and SPL028. The company was granted an innovation passport designation for SPL026 from the United Kingdom Medicines and Healthcare Products Regulatory Agency and has a pipeline of proprietary preclinical assets.

About Cybin Inc.

Cybin is a clinical-stage biopharmaceutical company on a mission to create safe and effective psychedelic-based therapeutics to address the large unmet need for new and innovative treatment options for people who suffer from mental health conditions.

Cybin's goal of revolutionizing mental health care is supported by a network of world-class partners and internationally recognized scientists aimed at progressing proprietary drug discovery platforms, innovative drug delivery systems, and novel formulation approaches and treatment regimens. Cybin is currently developing CYB003, a proprietary deuterated psilocybin analogue for the treatment of major depressive disorder, and CYB004, a proprietary deuterated DMT molecule for generalized anxiety disorder, and has a research pipeline of investigational psychedelic-based compounds.

Headquartered in Canada and founded in 2019, Cybin is operational in Canada, the United States, the United Kingdom, the Netherlands and Ireland.

We seek Safe Harbor.