Mr. Joshua Bartch reports

MYDECINE INNOVATIONS GROUP FILES PROSPECTUS SUPPLEMENT

Mydecine Innovations Group Inc., in connection with certain common share subscription agreements, entered into with third party investors dated Sept. 15, 2023, has filed a shelf prospectus supplement to the company's final short form base shelf prospectus for the province of Quebec, and an amended and restated final short form base shelf prospectus for each of the provinces of Canada, dated Jan. 28, 2022 (together, the shelf prospectus).

The prospectus supplement qualifies the distribution of up to 18.75 million common shares in the capital of the company to the investors at a price of 20 cents per share for aggregate gross proceeds of up to $3.75-million.

The company expects to close the offering on or about Sept. 16, 2023. The company will use the proceeds of the offering as described in the prospectus supplement.

The prospectus supplement and base shelf prospectus are available on the company's profile on SEDAR+.

About Mydecine Innovations Group Inc.

Mydecine 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 (methylenedioxy-methamphetamine), for treating intractable conditions, such as pain, anxiety, depression, addiction and PTSD (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 AI (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 an NIDA-financed (National Institute on Drug Abuse) trial at Johns Hopkins University. Mydecine is also developing MYCO-006-short-acting chemical analogs derived from MDMA for treating various conditions, including anxiety and pain. Mydecine utilizes cutting-edge AI 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 FDA (U.S. 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.