Mr. Payton Nyquvest reports

NUMINUS WELLNESS DIVESTS OF HOLDINGS IN ALTO NEUROSCIENCE INC.

Numinus Wellness Inc. has entered into an agreement to divest its holdings in Alto Neuroscience Inc., a clinical-stage biopharmaceutical company. The Alto investment was included in the company's acquisition of Novamind Inc. on June 10, 2022. Alto has recently announced the terms for its initial public offering and listing on the New York Stock Exchange.

"We are happy to announce this divestiture as we continue to focus on our core business and drive shareholder value creation more broadly," said Payton Nyquvest, Numinus founder and chief executive officer. "As our core strategy is to build the critical infrastructure that addresses the growing need for effective mental health treatments, the proceeds from the sale of this non-core asset will provide additional financial liquidity and flexibility. Our continued focus on driving growth and optimizing operations will enable us to apply these funds efficiently while the management team remains focused on achieving profitability with our continuing operations."

About Numinus Wellness Inc.

Numinus Wellness helps people to heal and be well through the development and delivery of innovative mental health care and access to safe, evidence-based psychedelic-assisted therapies. The Numinus model -- including psychedelic research and clinic care -- is at the forefront of a transformation aimed at healing rather than managing symptoms for depression, anxiety, trauma, pain and substance use. Numinus is leading the integration of psychedelic-assisted therapies into mainstream clinical practice and building the foundation for a healthier society.

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