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Mydecine Innovations Group Files Prospectus Supplement, Announces Closing Under Share Subscription Agreements

VANCOUVER, British Columbia, Oct. 31, 2023 (GLOBE NEWSWIRE) — Mydecine Innovations Group Inc. (“Mydecine” or the “Company”) (CSE:MYCO) (AQSE:MYIG) (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 that, in connection with: (i) its previously announced Common Share Subscription Agreement (the “opensky Subscription Agreement”) with OpenSky Opportunities Fund Ltd. (“opensky”) dated 10 March 2023; and (ii) a Common Share Subscription Agreement dated 25 October 2023 (the “Standalone Subscription Agreement”, and collectively with the Opensky Subscription Agreement, the “Subscription Agreements”) between the Company and an arms-length investor (the “Standalone Investor” and collectively with Opensky, the “Investors”), the Company has filed a shelf prospectus supplement (the “Prospectus Supplement”) to the Company's Final Short Form Base Shelf Prospectus for the province of Quebec and Amended and Restated Final Short Form Base Shelf Prospectus for each of the provinces of Canada, dated 28 January 2022 (together, the “Shelf Prospectus").

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