Mr. Craig MacPhail reports

NUMINUS ANNOUNCES RECEIPT OF MANAGEMENT CEASE TRADE ORDER

Numinus Wellness Inc., further to its application to the British Columbia Securities Commission (BCSC) for a temporary management cease trade order (MCTO) in connection with the company's filing of its audited annual financial statements, management's discussion and analysis (MD&A), and annual information form (AIF), for the financial year ended Aug. 31, 2024, and the applicable chief executive officer and chief financial officer certifications, the BCSC has granted the MCTO. The MCTO prohibits the CEO and the CFO of the company from trading in securities of the company for so long as the annual filings are not filed, including the disposition or acquisition of securities of the company under any automatic plan. During this period, the company will cease any share buyback activities under its normal course issuer bid, and has undertaken not to, directly or indirectly, issue or acquire securities from an insider or employee of the company.

The MCTO does not affect the ability of shareholders who are not insiders of the company to trade their securities of the company.

The company will issue a news release announcing completion of filing of the annual filings at such time as they are completed and filed. Until the company files the annual filings, it will comply with the alternative information guidelines set out in under National Policy 12-203, Cease Trade Orders for Continuous Disclosure Defaults, including issuing biweekly default status reports by way of news releases, which will be filed on SEDAR+. The delay in filing the annual filings is a result of unexpected delays experienced by the company. The company is working with its accounting team to prepare the audited financial statements and respond to all queries. It is the company's reasonable expectation that the annual filings will be finalized by Jan. 28, 2025.

About Numinus Wellness Inc.

Numinus 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 of 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.

We seek Safe Harbor.