Canadian Securities Exchange Reports October 2023 Performance Figures

MYDECINE INNOVATIONS GROUP INC. ("Mydecine" or the "Company") (CSE:MYCO) (AQSE:MYIG) (OTC:MYCOF) (FSE:0NF0), a leading biotechnology company dedicated to transforming mental health and addiction treatment, proudly announces the issuance of two Notice of Allowances by the United States Patent and Trademark Office (USPTO) for compounds from the Company's MYCO-005 and MYCO-006 families.

MYCO-005 Notice of Allowance: Aza-Substituted Psilocin Analogs and Methods of Synthesising the Same Unique Compound

MYDECINE INNOVATIONS GROUP INC. ("Mydecine" or the "Company") (CSE:MYCO) (AQSE:MYIG) (OTC:MYCOF) (FSE: 0NF0), a forefront biotechnology company dedicated to revolutionizing mental health and addiction treatment, announces that Neil Stevenson-Moore has resigned as a director of the Company. The Company would like to thank Mr. Stevenson-Moore for his contributions to the Company and wishes him well in this future endeavors.

The Company is in the process of identifying a qualified replacement director and will make any necessary announcements in due course.

MYDECINE INNOVATIONS GROUP INC. ("Mydecine" or the "Company") (CSE:MYCO) (AQSE:MYIG) (OTC:MYCOF) (FSE:0NFA), a forefront biotechnology company dedicated to revolutionising mental health and addiction treatment, proudly announces the Company has received the issuance of a Notice of Allowance by the United States Patent and Trademark Office (USPTO) for their MYCO-005 compound, "Novel Aza-Substituted Psilocin Analogs And Methods Of Synthesizing The Same Unique Compound (US20230348380A1)".

This Composition of Matter patent underscores Mydecine's commitment to innovation in mental health therapeutics. MYCO-005, a novel compound, that mimics psilocin as an improved version engineered to act therapeutically similar to psilocin while dramatically reducing highly undesirable side effects from long-term sustained use of psilocybin and almost all-known classical serotonin agonists (LSD, DMT, etc.), specifically addressing valvular fibrosis concerns recognised by leading clinicians and FDA regulators. MYCO-005 is designed with selective binding to 5-HT2A receptors and does not bind to 5-HT2B receptors for both macro and microdosing.

MYDECINE INNOVATIONS GROUP INC. ("Mydecine" or the "Company") (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, wishes to clarify certain statements made in the Company's news release of January 13, 2022 (the " Prior Release ") wherein the Company announced it would be launching the Special Access Support and Supply Program (" SASSP ") to provide products and services to physicians, clinics, and hospitals in Canada who are looking to treat patients through psychedelic-assisted psychotherapy.

The Company would like to clarify that the access to Health Canada's Special Access Program (the " Program ") to assist potential patients with the use of Psilocybin and/or MDMA is exclusively through its partner, Applied Pharmaceutical Innovation (" API ") pursuant to the Health Canada license granted to Dr. Raimar Loebenberg (the " Partnership "). Pursuant to the Partnership, API may provide patients access to certain controlled substances, including Psilocybin and/or MDMA, however, Mydecine does not directly have the ability to grant patients access to controlled substances through the Program.

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 Québec 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 ").