Mr. Joshua Bartch reports

MYDECINE INNOVATIONS GROUP ANNOUNCES DIRECTOR RESIGNATION

Mydecine Innovations Group Inc.'s Neil Stevenson-Moore has resigned as a director of the company. The company would like to thank Mr. Stevenson-Moore for his contributions to the company and wishes him well in this future endeavours.

The company is in the process of identifying a qualified replacement director and will make any necessary announcements in due course.

The directors of Mydecine take responsibility for this announcement.

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 (3,4-methylenedioxymethamphetamine) 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 (AI). Through its exclusive partnership with Applied Pharmaceutical Innovation based at the University of Alberta, 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 prodrug families, beginning with a psilocybin-derived smoking cessation drug undergoing a National Institute on Drug Abuse-financed 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 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 FDA approval. The Mydecine team is enthusiastic about its mission and is dedicated to creating a positive difference in the lives of others.