Mydecine Innovations Group Announces Results Of Shareholder Meeting And Provides Corporate Update

(TheNewswire)

Vancouver, British Columbia, October6, 2025 — TheNewswire- Mydecine Innovations Group Inc. (the“Company”) (CSE: MYCO) (FSE: 0NF0) (OTC: MYCOF) is pleased toannounce the results of voting at its annual general and specialmeeting of shareholders (the “Shareholders”) held on October 1,2025 (the “Meeting”).

At the Meeting, Shareholders approved all resolutionsset forth in the Company’s management information circular datedAugust 20, 2025 (the “Circular”). Disinterested Shareholders alsoapproved all related party transactions, with the same votes excludedas required under the minority approval provisions of MultilateralInstrument 61-101 – Protection of Minority Security Holders in SpecialTransactions (“MI 61-101”).

Debt Settlements with RelatedParties

At the Meeting, disinterested Shareholders approved thesettlement of certain debts with related parties through the issuanceof convertible debentures, as follows:

a) USD Settlement Agreements

The Company entered into debt forgiveness agreements tosettle outstanding debts of USD $1,386,391 owed to two insiders of theCompany for unpaid management fees. In full and final settlement, theCompany issued convertible debentures with an aggregate principalamount of USD $100,000 to the creditors, who forgave the remainingbalance. The debentures will mature one year from issuance and will beconvertible into common shares of the Company at a price equal to thegreater of: (i) the thirty (30) day volume-weighted average tradingprice of the common shares immediately prior to conversion; or (ii)the minimum price permitted by the Canadian Securities Exchange(“CSE”) and applicable securities regulators.

b) Bartch Settlement Agreement

The Company entered into a debt settlement agreementwith Josh Bartch, the Company’s Chief Executive Officer and adirector, to settle CAD $1,309,836 of unpaid management fees. TheCompany issued a convertible debenture in the principal amount of CAD$1,309,836, maturing one year from issuance, and convertible beginningfour (4) months and one (1) day after issuance into common shares atthe greater of: (i) the twenty (20) day volume-weighted averagetrading price immediately prior to conversion; or (ii) the minimumprice permitted by the CSE and applicable securities regulators (the“Bartch Debenture Terms”).

c) Pioneer Settlement Agreement

The Company entered into a debt settlement agreementwith Pioneer Garage Limited to settle CAD $7,878,792 in amounts owingunder a prior convertible debenture and expense reimbursements. Infull and final settlement, the Company issued a convertible debenturein the principal amount of CAD $7,878,792, having the same terms andconditions as the Bartch Debenture Terms.

No interest shall accrue on the foregoing debentures(collectively, the “Settlement Debentures”) prior to an event ofdefault. Upon default, the principal will accrue interest at 8% perannum, compounded quarterly.

The Settlement Debentures are expected to be issued onor about October 14, 2025. All securities issued will be subject to astatutory hold period of four months and one day under applicablesecurities laws.

Each of the USD Settlement Agreements, BartchSettlement Agreement and Pioneer Settlement Agreement constitutes a“related party transaction” under MI 61-101. The Company isrelying on the exemption from the formal valuation requirement inSection 5.5(g) of MI 61-101 on the basis of serious financialdifficulty. Minority shareholder approval was obtained at the Meeting,with the required exclusions under MI 61-101.

The issuance of the Bartch and Pioneer debentures mayresult in the creation of a “Control Person” under CSE policiesupon conversion, if Mr. Bartch or Pioneer Garage Limited were to hold20% or more of the Company’s outstanding voting securities.

Debt Settlement with an arm’slength party

The Company also entered into a debt settlementagreement with an arm’s length creditor to settle CAD $243,479 ofindebtedness relating to legal fees. The debt was fully settledthrough the issuance of a secured convertible debenture with aprincipal amount of USD $100,000. The debenture bears interest at 1%per month, calculated monthly in advance, accruing from the date ofissuance and payable in cash at maturity on March 20, 2027. Intereston overdue interest will accrue at 12% per annum, and following anevent of default will accrue at 24% per annum.

The Company may repay the debenture in whole or in partat any time prior to maturity without penalty, subject to 30 days’prior written notice. The debenture is convertible at the holder’soption into common shares at a price equal to the greater of: (i) thethirty (30) day volume-weighted average trading price immediatelyprior to conversion; or (ii) the minimum price permitted by the CSEand applicable securities regulators.

The issuance of this debenture was approved by theBoard effective March 20, 2025, and ratified on September 9,2025.

The Company will make all required filings with the CSEand applicable securities regulators in connection with the debtsettlements. The Board believes that settling outstanding debtsthrough the issuance of convertible debentures is in the bestinterests of the Company, as it preserves cash for working capital andstrengthens the Company’s financial position.

The securities referred to in this news release havenot been, and will not be, registered under the U.S. Securities Act of1933, as amended, and may not be offered or sold in the United Statesabsent registration or an applicable exemption. This news release doesnot constitute an offer to sell or a solicitation of an offer to buy,nor shall there be any sale of the securities in any jurisdiction inwhich such offer, solicitation or sale would be unlawful.

Share Consolidation

At the Meeting, Shareholders also approved a specialresolution authorizing the Board of Directors, at its discretion, toeffect a consolidation of the Company’s issued and outstandingcommon shares on the basis of up to one (1) post-consolidation sharefor every 50 pre-consolidation shares (the “Consolidation”). TheConsolidation has not yet been implemented and the Board willdetermine, at a later date, and the timing thereof. The Company willissue a further news release in advance of effecting anyConsolidation.

On behalf of the Board of Directors,

MYDECINE INNOVATIONS GROUP INC.

Joshua Bartch

Chief Executive Officer

Email: contact@mydecineinc.com

Phone: +1 (888) 871 - 3936

About Mydecine Innovations Group Inc.

Mydecine Innovations Group™ is a biotechnologycompany developing the next generation of innovative medications andtherapies to address mental health disorders such as nicotineaddiction and posttraumatic stress disorder (PTSD). The core strategyblends advanced technology with an elaborate infrastructure for drugdiscovery and development. Mydecine's dedicated multinationalteam constantly develops new paths for breakthrough treatmentsolutions in areas with considerable unmet needs. By collaboratingwith some of the world's leading specialists, the Company aspiresto responsibly speed up the development of breakthrough medications toprovide patients with safer and more effective treatment solutions. Atthe same time, Mydecine's approach focuses on the next generationof psychedelic medicine by creating innovative compounds withunmatched therapeutic potential through its clinical trial effortswith worldclass scientific and regulatory expertise.

Learn more at: https://www.mydecine.com/ and follow thecompany on Twitter, LinkedIn, YouTube, and Instagram.

Forward-looking Information Statement

This news release may containcertain “forward-looking statements” and “forward-lookinginformation” within the meaning of applicable Canadian and UnitedStates securities laws. When used in this news release, the words“anticipate”, “believe”, “estimate”, “expect”,“target”, “plan”, “forecast”, “may”, “schedule”and other similar words or expressions are intended to identifyforward-looking statements or information. Forward-looking statementsin this release include, but are not limited to, statements regardingthe anticipated issuance of the Settlement Debentures, the potentialcreation of a Control Person, the expected benefits of the DebtSettlements, the proposed share consolidation and the timing thereof,and the Company’s plans and objectives.

Such statements represent theCompany’s current views with respect to future events and arenecessarily based upon a number of assumptions and estimates that,while considered reasonable by the Company, are inherently subject tosignificant business, economic, competitive, political and socialrisks, contingencies and uncertainties. Many factors, both known andunknown, could cause actual results, performance or achievements todiffer materially from those expressed or implied by suchforward-looking statements.

The Company does not undertake anyobligation to update or revise forward-looking statements or information to reflectchanges in assumptions, changes in circumstances, or any other eventsaffecting such statements or information, except as required byapplicable laws, rules and regulations.

NEITHER THE CSE NOR ITS REGULATIONS SERVICES PROVIDERHAVE REVIEWED OR ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OFTHIS RELEASE.

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