Mr. Joshua Bartch reports

MYDECINE INNOVATIONS GROUP INC. ANNOUNCES SHARE FOR DEBT SETTLEMENT

Mydecine Innovations Group Inc. has entered into a debt settlement agreement to partially settle outstanding debts owed to a creditor for legal services rendered. Pursuant to the settlement agreement, the company has agreed to issue an aggregate of 2,618,543 common shares at a deemed price of two cents per share, based on a 20-day volume-weighted average price. The company anticipates closing the share settlement on or about Feb. 12, 2024. The share settlement will settle $52,370.86 in debts owed to the creditor, which is partial settlement for the total amount of bona fide debts owed to the creditor.

The board of directors of the company has determined that it is in the best interests of the company to settle the outstanding debts by the issuance of the shares to preserve the company's cash for working capital.

The company will be relying on the employee, executive officer, director and consultant exemption contained in Section 2.24 of National Instrument 45-106 (Prospectus Exemptions) to issue the shares to the creditor. The Canadian Securities Exchange has waived the requirement to impose a four-month-and-one-day hold period on the shares.

About Mydecine Innovations Group Inc.

Mydecine is a biotechnology company, developing the next generation of innovative medications and therapies to address mental health disorders such as nicotine addiction and posttraumatic stress disorder. The core strategy blends advanced technology with an elaborate infrastructure for drug discovery and development. Mydecine's dedicated multinational team constantly develops new paths for breakthrough treatment solutions in areas with considerable unmet needs. By collaborating with some of the world's leading specialists, the company aspires to responsibly speed up the development of breakthrough medications to provide patients with safer and more effective treatment solutions. At the same time, Mydecine's approach focuses on the next generation of psychedelic medicine by creating innovative compounds with unmatched therapeutic potential through its clinical trial efforts with world-class scientific and regulatory expertise.

We seek Safe Harbor.