Mr. Will Rascan reports

NOVA MENTIS ASSIGNS INTELLECTUAL PROPERTY

Nova Mentis Life Science Corp. has entered into an intellectual property conveyance agreement with Ludwig Enterprises Inc. (LUDG) and Dr. Marvin S. Hausman, chief executive officer of Ludwig, pursuant to which the company shall assign to Ludwig all of its intellectual property and patent of the mRNA neuro panel and serotonin assay, along with any and all data accumulated testing these assays.

Under the terms of the agreement, in consideration of the assignment of the property, Hausman shall forgive the company on a total of $245,712 (U.S.) debt owed to Hausman pursuant to consulting services provided to the company and Ludwig shall issue to the company 750,000 restricted shares of its common stock at closing. In addition, for a period of 10 years from the date of the agreement, Ludwig shall pay the company a 2.5-per-cent royalty on all revenue derived from the commercialization of the property up to the amount of $245,712 (U.S.) and 5 per cent on any revenue over this amount.

Corporate update

Regarding the company's Health Canada phase 2a clinical trial "An Open-Label Investigation of the Effects of Sub-Perceptual Repeat Dosing of Psilocybin on the Behavioural and Cognitive Symptoms of Fragile X Syndrome in Adult Patients" -- the recruitment portion of the trial has proven to be very challenging. Together with its' contract research organization partner KGK Science, over 20 individuals have been vetted for enrolment but unfortunately none have met the stringent requirements for enrolment.

Coupled with the challenges the psychedelic sector has and is going through, Nova's board is actively seeking suitable business opportunities that create shareholder value and complement the company's current Canadian Securities Exchange industry listing -- life sciences.

About Nova Mentis Life Science Corp.

Nova Mentis Life Science is a Canadian-based biotechnology company, developing psilocybin-based therapeutics for neuroinflammatory disorders. Nova is the first biotech company to achieve orphan drug designation in both the United States and European Union for the use of psilocybin in the treatment of fragile X syndrome (FXS).

We seek Safe Harbor.