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 2,941,176 common shares at a deemed price of 1.7 cents per share, based on a 20-day VWAP (volume-weighted average price). The company anticipates closing the share settlement on or about March 27, 2024. The share settlement will settle $50,000.00 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 in order 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 directors of Mydecine take responsibility for this announcement.

This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 as it forms part of United Kingdom domestic law by virtue of the European Union (Withdrawal) Act 2018 (MAR), and is disclosed in accordance with the company's obligations under Article 17 of MAR.

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.