Mydecine (NEO: MYCO) (OTC: MYCOF) (FSE: 0NFA) is 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 post-traumatic stress disorder (“PTSD”). The company has announced that, in connection with its previously disclosed Common Share Subscription Agreement (the “subscription agreement”) with a third-party investor dated Aug. 26, 2022, the company has filed a shelf prospectus supplement (the “prospectus supplement”) to its Final Short Form Base Shelf Prospectus for the province of Québec and Amended and Restated Final Short Form Base Shelf Prospectus for each of the provinces of Canada, dated Jan. 28, 2022, (together, the “shelf prospectus”). According to the update, the prospectus supplement is the first supplement filed in connection with the subscription agreement and provides, among other things, that the company is qualifying the distribution of up to 1,754,386 common shares in the capital of the company to the investor at a price of $0.57 per share for aggregate gross proceeds of up to $1,000,000.

In addition, Mydecine announced the closing of the first tranche of the first issuance under the subscription agreement (the “offering”). The offering resulted in the issuance of 877,193 shares, each at a price of $0.57, for aggregate gross proceeds of $500,000. The distribution of such shares is qualified by the prospectus supplement.

To view the full press release, visit https://ibn.fm/GMv6I

About Mydecine Innovations Group Inc.

Mydecine 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. Founded in 2020, Mydecine is based out of Colorado, USA, with extended offices in Alberta, Canada, and Leiden, Netherlands. For more information about the company, please visit www.Mydecine.com.

NOTE TO INVESTORS: The latest news and updates relating to MYCOF are available in the company’s newsroom at https://ibn.fm/MYCOF

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