Mydecine Innovations Group Closes Debt Settlements

(TheNewswire)

Vancouver, British Columbia, October14, 2025 — TheNewswire- Mydecine Innovations Group Inc. (the“Company”) (CSE: MYCO) (FSE: 0NF0) (OTC: MYCOF) is pleased toannounce that it has closed the previously announced debt settlementagreements (the “Settlements Agreements”) to settle outstandingdebts totaling USD$1,386,391 and CAD$9,432,107 owed to certain arm’slength creditors and a non-arm length creditor (the “Creditors”)of the Company for unpaid invoices, management fees, and unpaidconvertible debenture.

Pursuant to the Settlement Agreements, the Company hasissued five convertible debentures (the “Debentures”) to theCreditors (the “Debt Settlements”) with details set outbelow.

The board of directors of the Company has determinedthat it is in the best interests of the Company to settle theoutstanding debts by the issuance of the Debentures in order topreserve the Company's cash for working capital and to improvethe Company’s financial situation.

At the Meeting, disinterested Shareholders approvedDebt Settlements, with the same votes excluded as required under theminority approval provisions of Multilateral Instrument 61-101 – Protection of MinoritySecurity Holders in Special Transactions (“MI61-101”).

(a) USD Settlement Agreements

The Company entered into debt forgiveness agreements tosettle outstanding debts of USD $1,386,391 owed to two former insidersof the Company for unpaid management fees. In full and finalsettlement, the Company issued convertible debentures with anaggregate principal amount of USD $100,000 to the creditors, whoforgave the remaining balance. The debentures will mature one yearfrom issuance and will be convertible into common shares of theCompany at a price equal to the greater of: (i) the thirty (30) dayvolume-weighted average trading price of the common shares immediatelyprior to conversion; or (ii) the minimum price permitted by theCanadian Securities Exchange (“CSE”) and applicable securitiesregulators.

(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.

All securities issued are subject to a statutory holdperiod of four months and one day under applicable securitieslaws.

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.

Additional Settlement

The Company also closed a debt settlement agreementwith an arm’s length creditor to settle CAD $243,479 of indebtednessrelating to legal fees. The debt was fully settled through theissuance of a secured convertible debenture with a principal amount ofUSD $100,000. The debenture bears interest at 1% per month, calculatedmonthly in advance, accruing from the date of issuance and payable incash at maturity on March 20, 2027. Interest on overdue interest willaccrue at 12% per annum, and following an event of default will accrueat 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 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

The Company also announces that it will be proceedingwith the previously announced share consolidation on October 6, 2025of its issued and outstanding share capital (the “Common Shares”)on the basis of every fifty (50) old Common Shares into one (1) newCommon Share (the “Share Consolidation”), effective October 21,2025 (the “Record Date”). The Company received approval from itsshareholders for the Share Consolidation at its Shareholder Meetingthat took place on October 1, 2025.

As of result of the Share Consolidation, the issued andoutstanding Common Shares will be reduced from 61,755,385 toapproximately 1,235,107. No fractional shares will be issued as aresult of the Share Consolidation. All fractions of Common Shares willbe rounded down to the next lowest whole number. No cash considerationwill be paid in respect of fractional shares. The exercise orconversion price and the number of Common Sharesissuable under any of the Company’s outstanding convertiblesecurities will be proportionately adjusted upon the ShareConsolidation.

New ISIN: CA62849F4087

New CUSIP: 62849F408

Shareholders of record as at the Record Date willreceive a letter of transmittal providing instructions for theexchange of their Common Shares as soon as practicable following theRecord Date.

The Company believes that the Share Consolidation willmake the Company more attractive to financing opportunities, and willallow for the restructuring and settlement of certain existingliabilities. Completion of the Share Consolidation remains subject tocompletion of appropriate regulatory filings with the CSE.

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 orinformation to reflect changes in assumptions, changes incircumstances, or any other events affecting such statements orinformation, except as required by applicable laws, rules andregulations.

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

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