IRW-PRESS: Mydecine Innovations Group Inc.: Mydecine Discovers Over 40 Groundbreaking Potential
Pharmacologically Active Novel Compounds in Mushrooms

DENVER, June 8, 2021 - Mydecine Innovations Group (NEO: MYCO) (OTC: MYCOF) (FSE: 0NFA) (Mydecine
or the Company), an emerging biopharma and life sciences company committed to the research,
development, and acceptance of alternative nature-sourced medicine for mainstream use, announces
that the Mydecine R&D team has made groundbreaking advances in psilocybin research with the
discovery of over 40 compounds with pharmacological potential in mushrooms.

Over the past months, Mydecines research and development teams have screened over 25 mushroom
species, including various varieties of p. cubensis, and has selected and analyzed over 40 unique
compounds found throughout the various species. Of these compounds, a large majority appear to have
never been reported before and could be vital  to the critical effects of naturally-sourced
mushrooms on human health and wellbeing as well as synergistic effects with pure psilocybin.

Most mushrooms, especially the noxious species, have not been investigated for their chemical
components, says Senior Scientist, Duff Sloley. Most of these compounds are evolved to protect the
mushrooms fruiting body from predation by insects, nematodes and bacteria and are complex and
metabolically expensive to produce. Since these compounds are evolved to affect biological systems
and aspects of metabolic pathways, they stand a higher chance of proving to be useful
pharmaceuticals, he continued.  As a consequence, studies of the structural, chemical, and possibly
fortuitous pharmacological properties of these unknown compounds may lead to the development of
beneficial pharmacological treatments for a number of disease states.

Dr. Sloley holds a PhD in Biology from the University of Waterloo and has over 35 years of
experience in analytical research and product development including positions at the University of
Saskatchewans Neuropsychiatric Research Unit, Novokin Biotech, Sinoveda, and Radient Technologies.
Dr. Sloleys specialties include comparative neurobiology with a focus on neurotransmitter
identification, metabolism and disruption as well as botanical composition. Dr. Sloley has extensive
experience working in analytical biochemistry in a GLP setting including
HPLC, LCMS/MS, UV absorbance and fluorescent detection. Additionally, Dr. Sloley is an active
member of the Alberta Mycological Society and will be instrumental in characterizing and discovering
new potent compounds as well as working with Society to source novel fungi.

We have seen accelerated progress through Mydecines fully integrated research and cultivation
facilities, stated Josh Bartch, CEO of Mydecine. These tremendous advances in our treatment
development could not have been possible without our state-of-the-art R&D center and world-class
research team. We not only have the ability to discover new compounds, but test them for efficacy,
manufacture them for clinical research through a scientific rigor. This end-to-end capability is a
critical to successful drug development and sets Mydecine apart.

About Mydecine Innovations Group

Mydecine Innovations Group (NEO: MYCO) (OTC:MYCOF) (FSE:0NFA) is an emerging biotech and life
sciences company dedicated to developing and commercializing innovative solutions for treating
mental health problems and enhancing vitality. The companys world-renowned medical and scientific
advisory board is building out a robust R&D pipeline of nature-sourced psychedelic-assisted
therapeutics, novel compounds, therapy protocols, and unique delivery systems. Mydecine has
exclusive access to a full cGMP certified pharmaceutical manufacturing facility with the ability to
import/export, cultivate, extract/isolate, and analyze active mushroom compounds with full
government approval through Health Canada. Mydecine also operates out of a state-of-the-art mycology
lab in Denver, CO to focus on genetic research for scaling commercial cultivation of rare
(non-psychedelic) medicinal mushrooms.

At the heart of Mydecines core philosophy is that psychedelic-assisted psychotherapy will
continue to gain acceptance in the medical community with many of the worlds best accredited
research organizations demonstrating its remarkable clinical effectiveness. Mydecine recognizes the
responsibility associated with psychedelic-assisted therapy and will continue to position itself as
a long-term leader across the spectrum of clinical trials, research, technology, and global supply.
Mydecine has also successfully completed multiple acquisitions since its inception.

Learn more at: https://www.mydecine.com and follow us on Facebook, Twitter, and Instagram.

For more information, please contact:

Media Contacts
Anne Donohoe / Nick Opich
KCSA Strategic Communications
myco@kcsa.com 
1-212-896-1265 / 1-212-896-1206
 
Investor Contacts
Charles Lee, Investor Relations
corp@mydecineinc.com 
1-720-277-9879

Allison Soss / Erika Kay
KCSA Strategic Communications
myco@kcsa.com 
1-212-896-1267

On behalf of the Board of Directors:
Joshua Bartch, Chief Executive Officer 
contact@mydecineinc.com 

For further information about Mydecine Innovations Group, Inc., please visit the Companys profile
on SEDAR at www.sedar.com or visit the Companys website at www.mydecine.com.

This news release contains forward-looking information within the meaning of Canadian securities
laws regarding the Company and its business, which relate to future events or future performance and
reflect managements current expectations and assumptions. Often but not always, forward-looking
information can be identified by the use of words such as expect, intends, anticipated, believes or
variations (including negative variations) of such words and phrases, or state that certain actions,
events or results may, could, would or will be taken, occur or be achieved. Such forward-looking
statements reflect managements current beliefs and are based on assumptions made by and information
currently available to the Company. Readers are cautioned that these forward-looking statements are
neither promises nor guarantees, and are subject to risks and uncertainties that may cause future
results to differ materially from those expected including, without limitation, risks regarding the
COVID-19 pandemic, the availability and continuity of financing, the ability of the Company to
adequately protect and enforce its intellectual property, the Company's ability to bring its
products to commercial production, continued growth of the global adaptive pathway medicine, natural
health products and digital health industries, and the risks presented by the highly regulated and
competitive market concerning the development, production, sale and use of the Company's products.
Although the Company has attempted to identify important factors that could cause actual results to
differ materially from those contained in forward-looking information, there may be other factors
that cause results not to be as anticipated, estimated or intended. There can be no assurance that
such information will prove to be accurate, as actual results and future events could differ
materially from those anticipated in such information. These forward-looking statements are made as
of the date hereof and the Company does not assume any obligation to update or revise them to
reflect new events or circumstances save as required under applicable securities legislation.




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