Mr. Joshua Bartch reports

MYDECINE REPORTS ITS 2023 ANNUAL GENERAL SHAREHOLDERS' MEETING RESULTS

Mydecine Innovations Group Inc. has released the results of voting at its annual general and special meeting of shareholders, which was held on Friday, May 5, 2023, by conference call. There were 23 shareholders represented in person or by proxy at the meeting, holding 2,423,009 common shares, representing 11.25 per cent of the company's total issued and outstanding common shares as of the record date for the meeting. The voting results for each matter presented at the meeting are set out herein.

Number of directors

The resolution to set the number of directors of the company at three was approved by votes cast by the shareholders who voted in respect of the resolution present or represented by proxy at the meeting. Voting results are set out herein.

        VOTING RESULTS FOR 
        NUMBER OF DIRECTORS

    Votes for         Votes against  

Number           %    Number       %   

2,378,647   98.17%    44,362   1.83% 

Election of directors

Each of the nominees for election as a director listed in the company's management information circular dated April 4, 2023, was elected as a director of the company for the ensuing year until a successor is elected or appointed. Voting results are set out herein.

            VOTING RESULTS FOR ELECTION OF DIRECTORS

                             Votes for          Votes withheld  

                          Number        %       Number        %   

David Joshua Bartch    2,281,284   94.15%      141,725    5.85% 
Robert Roscow          2,371,132   97.86%       51,877    2.14% 
Neil Stevenson-Moore   2,290,659   94.54%      132,350    5.46% 

Appointment of auditor

BF Borgers CPA PC was reappointed as auditor of the company for the ensuing year, with its remuneration to be fixed by the board of directors. Voting results are set out herein.

       VOTING RESULTS FOR AUDITOR

       Votes for          Votes withheld  

Number           %       Number        %   

2,394,587   98.83%       28,422    1.17% 

Approval of the new equity incentive plan

The adoption of the new equity incentive plan, as presented in the company's information circular dated April 4, 2023, was approved by a majority of votes cast by the shareholders who voted regarding the resolution present or represented by proxy at the meeting.

The new equity incentive plan will be implemented at the discretion of the board of directors, should the board of directors believe that adopting the new equity incentive plan is in the company's best interest.

Voting results are set out herein.

         VOTING RESULTS FOR 
       EQUITY INCENTIVE PLAN

       Votes for         Votes against  

Number           %       Number       %   

2,379,490   98.20%       43,519   1.80% 

Approval of the repricing of debenture and debenture warrants

The resolution to authorize and approve the repricing of the debenture and the debenture warrants was approved by a majority of votes cast by the disinterested shareholders who voted for the resolution present or represented by proxy at the meeting.

The repricing of the debenture and debenture warrants will be implemented at the discretion of the board of directors, should the board of directors believe that the adoption of the repricing of the debenture and debenture warrants is in the best interest of the company.

Voting results are set out herein.

     VOTING RESULTS FOR REPRICING 

    Votes for            Votes against  

Number           %       Number       %  

2,046,356   84.46%       37,459   1.55% 

Approval of other matters

A resolution was transacted for such other business that may be brought properly before the meeting and any adjournment or postponement of the meeting. Voting results are set out herein.

    VOTING RESULTS FOR OTHER MATTERS

     Votes for            Votes against  

Number           %       Number       %   

2,383,881   98.39%       39,128   1.61% 

About Mydecine Innovations Group Inc.

Mydecine Innovations Group is a publicly traded, prerevenue, biopharmaceutical company that began operations in North America and Europe in early 2020. Mydecine was founded to increase physicians' access to serotonin-modulating medicine. Recent research has demonstrated the therapeutic potential of psychedelic substances such as psilocybin and MDMA for treating intractable conditions such as pain, anxiety, depression, addiction and posttraumatic stress disorder, along with neurodegenerative disorders. Mydecine believes these compounds can be safer, more effective and more accessible for patients and medical professionals through modern drug chemistry paired with artificial intelligence. Mydecine is developing innovative medications for target indications with high mortality rates that have lacked innovation for decades and are controlled by dominant corporations. Mydecine developed several pro-drug families, beginning with a psilocybin-derived smoking cessation drug undergoing a National Institute on Drug Abuse-funded trial at Johns Hopkins University. Mydecine is also developing Myco-006-short-acting chemical analogues derived from MDMA for treating various conditions, including anxiety and pain. Mydecine utilizes cutting-edge artificial intelligence and pharma research infrastructure at the University of Alberta to develop and manufacture new medications to make them affordable and accessible to the general public upon Health Canada and Food and Drug Administration approval. The Mydecine team is enthusiastic about its mission and is dedicated to creating a positive difference in the lives of others.

We seek Safe Harbor.