Mydecine Reports its Special Meeting Results

Mydecine Innovations Group Inc. (NEO:MYCO / OTC:MYCOF / FSE:0NFA), a biotechnology company engineering the next wave of innovative medications and treatment protocols to directly address mental health with a particular emphasis on addiction and PTSD, is pleased to announce the results of voting at its special meeting of shareholders which was held on Tuesday, July 4, 2023, by conference call (the “Meeting”). There were 15 shareholders represented in person or by proxy at the Meeting, holding 3,670,377 common shares, representing 14.72% of the Company’s total issued and outstanding common shares as of the record date for the Meeting. The voting results for the Meeting are set out below:

Approval of the Re-Pricing of Debenture and Debenture Warrants

The resolution to authorize and approve the re-pricing of the debenture and the debenture warrants was approved by a majority of votes cast by the disinterested shareholders who voted for the resolution present or represented by proxy at the Meeting.

The re-pricing of the debenture and debenture warrants will be implemented at the discretion of the Board of Directors, should the Board of Directors believe that the adoption of the re-pricing of the debenture and debenture warrants is in the best interest of the Company.

Voting results are set out below:

Approval of Other Matters

The resolution to transact such other business that may be brought properly before the Meeting and any adjournment or postponement of the Meeting. Voting results are set out below:

Mydecine Innovations Group is a publicly traded, pre-revenue biopharmaceutical company that began operations in North America and Europe in early 2020. Mydecine was founded to increase physicians’ access to serotonin-modulating medicine. Recent research has demonstrated the therapeutic potential of psychedelic substances such as psilocybin and MDMA for treating intractable conditions such as pain, anxiety, depression, addiction, and PTSD, along with neurodegenerative disorders. Mydecine believes these compounds can be safer, more effective, and more accessible for patients and medical professionals through modern drug chemistry paired with artificial intelligence (AI). Mydecine is developing innovative medications for target indications with high mortality rates that have lacked innovation for decades and are controlled by dominant corporations. Mydecine developed several prodrug families, beginning with a psilocybin-derived smoking cessation drug undergoing a NIDA-funded trial at Johns Hopkins University. Mydecine is also developing MYCO-006—short-acting chemical analogs derived from MDMA for treating various conditions, including anxiety and pain. Mydecine utilizes cutting-edge artificial intelligence (AI) and pharma research infrastructure at the University of Alberta to develop and manufacture new medications to make them affordable and accessible to the general public upon Health Canada and FDA approval. The Mydecine team is enthusiastic about its mission and is dedicated to creating a positive difference in the lives of others.