Mr. Joshua Bartch reports

MYDECINE INNOVATIONS GROUP INC. ANNOUNCES CLOSING OF SHARE FOR DEBT SETTLEMENT

Mydecine Innovations Group Inc. has closed a debt settlement to partially settle outstanding debts owed to a creditor for legal services rendered.

Pursuant to the debt settlement, the company issued an aggregate of 2,618,543 common shares at a deemed price of two cents per share, based on a 20-day VWAP (the volume weighted average price). The share settlement settles $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 company relied 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.

An application will be made to the Aquis Stock Exchange for the 2,618,543 new shares to be admitted to trading. Admission is expected to take place and dealings on Aquis in the shares are expected to commence, at 8 a.m. on or around Feb. 28, 2024.

Following admission, the company will have 55,186,001 ordinary shares in issue. Since the company currently holds no shares in treasury, the total number of voting rights in the company will therefore be 55,186,001. These figures may therefore be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the company under the FCA's Disclosure Guidance and Transparency Rules.

About Mydecine Innovations Group Inc.

Mydecine Innovations Group 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 (PTSD). 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.