Mr. Joshua Bartch reports

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

Mydecine Innovations Group Inc. has closed two debt settlement agreements to fully settle outstanding debts owed to two creditors for corporate back-office services rendered and an unpaid loan.

Pursuant to the settlement agreements, the company issued an aggregate of 3,628,208 common shares at a deemed price of 1.7 cents per share, based on a 20-day VWAP (volume-weighted average price). The share settlement settles for a total of $61,679.53 in debts owed to the creditors, which is a full settlement for the total amount of bona fide debts owed to the creditors.

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 creditors.

An application will be made to the Aquis Stock Exchange for the 3,628,208 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 April 18, 2024.

Following admission, the company will have 61,755,385 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 61,755,385. 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.

The directors of Mydecine take responsibility for this announcement.

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 post-traumatic 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.