Mydecine Innovations Group Provides Update On Annual Financial Statements

(TheNewswire)

Vancouver, British Columbia, June26, 2025 — TheNewswire - Mydecine Innovations Group Inc. (the “Company”) MYCO (FSE: 0NF0) MYCOF is
providing this update on the status of a management cease trade order
granted on May 1, 2025 (the "MCTO") by the
British Columbia Securities Commission under National Policy 12-203
– Management Cease Trade Order ("NP 12-203"). On
May 1, 2025, the Company announced that, for reasons disclosed in the
news release, there would be a delay in the filing of its financial
statements and accompanying management’s discussion and analysis for
the fiscal year ended December 31, 2024 (the "Annual Filings")
beyond the period prescribed under applicable Canadian securities laws
(the "Default
Announcement").

The Company reports that the audit is progressing and
it expects to file the Annual Filings by June 30, 2025. The Company is
also progressing on completion of its interim financial statements and
accompanying management’s discussion and analysis for the first
quarter ended March 31, 2025 (the “Interim Filings”),
and expects to file the Interim Filings within five days of filing the
Annual Filings. Further updates on timing will be provided by the
Company as necessary.

During the MCTO, the general investing public will
continue to be able to trade in the Company's listed common shares.
However, the Company's Chief Executive Office and Chief Financial
Officer will not be able to trade in the Company's common
shares.

Other than as disclosed in this news release, there are
no material changes to the information contained in the Default
Announcement. The Company confirms that it intends to satisfy the
provisions of NP 12-203 and will continue to issue bi-weekly default
status reports for so long as it remains in default of the Annual
Filings requirement.

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 multinational teamconstantly develops new paths for breakthrough treatment solutions inareas with considerable unmet needs. By collaborating with some of theworld's leading specialists, the Company aspires to responsibly speedup the development of breakthrough medications to provide patientswith safer and more effective treatment solutions. At the same time,Mydecine's approach focuses on the next generation of psychedelicmedicine by creating innovative compounds with unmatched therapeuticpotential through its clinical trial efforts with worldclassscientific 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” andother similar words or expressions identify forward-looking statementsor information. These forward-looking statements or information mayrelate to the anticipated timing for the filing of the Annual Filings,and other factors or information. 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 results, performance or achievements to bematerially different from the results, performance or achievementsthat are or may be expressed or implied by such forward-lookingstatements. The Company does not intend, and does not assume anyobligation, to update these forward-looking statements or informationto reflect changes in assumptions or changes in circumstances or anyother events affections such statements and information other than asrequired by applicable laws, rules and regulations

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