TORONTO, CANADA, April 23 2025 – Awakn Life Sciences Corp. (CSE: AWKN, OTCQB: AWKNF, FSE: 954) (“Awakn” or the “Company”), is pleased to announce that further to its press releases dated February 27, 2025 and April 11, 2025, the special resolution (the “Special Resolution”) in connection with the previously announced statutory plan of arrangement (the "Arrangement") involving the Company and Solvonis Therapeutics plc (LSE:SVNS) ("Solvonis") under the Business Corporations Act (British Columbia) whereby, among other things, Solvonis will acquire all of the outstanding common shares in the capital of the Company (the "Common Shares"), all outstanding restricted share units (the "RSUs") in the capital of the Company, and all outstanding deferred share units (the "DSUs") in the capital of the Company (the “Transaction”), was overwhelmingly approved today at the annual general and special meeting of shareholders of the Company (the "Meeting").

Shareholder Approvals

At the Meeting, the Special Resolution authorizing the Arrangement was approved by: (i) shareholders holding 99.89% of the Common Shares of the Company present in person or represented by proxy at the Meeting; (ii) holders of Common Shares, Common Share purchase warrants, RSUs and DSUs, voting as a single class, holding 99.92% of such securities present in person or represented by proxy at the Meeting; and (iii) minority shareholders of the Company (being shareholders other than Prof. David Nutt and Jonathan Held, whose votes were excluded from the minority vote in accordance with Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions) holding 99.88% of the Common Shares of the Company present in person or represented by proxy at the Meeting.

Arrangement Update

Completion of the Arrangement remains subject to, among other things, satisfaction of all conditions precedent to closing the Arrangement, including the final approval of the Supreme Court of British Columbia. The hearing for the final order of the Supreme Court of British Columbia to approve the Arrangement is scheduled to take place on or about April 28, 2025. Assuming that all approvals are obtained and all conditions precedent are satisfied or waived, the Company currently anticipates the closing of the Arrangement to occur before May 31, 2025.

About Solvonis

Solvonis Therapeutics plc (LSE: SVNS) formerly, Graft Polymer (UK) plc, is UK incorporated LSE-listed innovative biotechnology company focused on developing intellectual property and co-developing therapeutics for mental health and substance use disorders. Its therapeutic priorities include trauma-related mental health disorders such as Post-Traumatic Stress Disorder, which affects approximately 13 million adults in the US and 20 million across the US, UK, and key EU markets. The company emphasises growth through strategic collaborations, joint ventures, and acquisitions.

About Awakn Life Sciences Corp.

Awakn Life Sciences Corp. is a clinical-stage biotechnology company developing therapeutics targeting addiction. Awakn has a near-term focus on Alcohol Use Disorder, a condition affecting 40 million people in the US and key international markets and 285m people globally for which the current standard of care is inadequate. Our goal is to provide breakthrough therapeutics to addiction sufferers in desperate need and our strategy is focused on commercializing our R&D pipeline across multiple channels. 

Notice Regarding Forward-Looking Information

Certain statements contained in this news release constitute forward-looking information under applicable Canadian, United States and other applicable securities laws, rules and regulations, including, without limitation, statements with respect to the completion of the Transaction and the conditions to the completion of the Transaction that must be fulfilled. These statements relate to future events or future performance. The use of any of the words “could”, “intend”, “expect”, “believe”, “will”, “projected”, “estimated” and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on Awakn's current beliefs or assumptions as to the outcome and timing of such future events. There can be no assurance that such statements will prove to be accurate, as Awakn's actual results and future events could differ materially from those anticipated in these forward-looking statements. Factors that could cause actual results and future events to differ materially from those anticipated in these forward-looking statements include the risks, uncertainties and other factors and assumptions made with regard to Awakn's ability to complete the proposed Transaction, and the legal and regulatory approvals required to complete the Transaction. Important factors that could cause actual results to differ materially from Awakn's expectations include risks associated with the business of Solvonis and Awakn; risks related to the satisfaction or waiver of certain conditions to the closing of the Transaction; non-completion of the Transaction; fluctuations in currency exchange rates; and other risk factors as detailed from time to time and additional risks identified in Awakn’s filings with Canadian securities regulators on SEDAR+ in Canada (available at www.sedarplus.ca). Various assumptions or factors are typically applied in drawing conclusions or making the forecasts or projections set out in forward-looking information. Those assumptions and factors are based on information currently available to Awakn. The forward- looking information contained in this news release is made as of the date hereof and Awakn undertakes no obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. Because of the risks, uncertainties and assumptions contained herein, investors should not place undue reliance on forward-looking information. The foregoing statements expressly qualify any forward-looking information contained herein.

Investor Enquiries:

Jonathan Held, CFO, Awakn Life Sciences

jonathanh@awaknlifesciences.com

416-270-9566

TORONTO, CANADA, April 11, 2025 – Further to its press release dated February 27, 2025 and its management information circular dated May 10, 2025 (the "Circular"), Awakn Life Sciences Corp. (CSE: AWKN, OTCQB: AWKNF, FSE: 954) (“Awakn” or the “Company”) wishes to provide supplemental disclosure to the Circular in respect of its annual general and special meeting (the "Meeting") of the Company's securityholders (the "Securityholders") to approve, among other things, a statutory plan of arrangement (the "Arrangement") involving the Company and Solvonis Therapeutics PLC ("Solvonis") under Division 5 of Part 9 of the Business Corporations Act (British Columbia) whereby, among other things, Solvonis will acquire all of the outstanding common shares (the "Common Shares") in the capital of the Company, all outstanding restricted share units (the "RSUs") in the capital of the Company, and all outstanding deferred share units (the "DSUs") in the capital of the Company (the “Transaction”).

Based on its review of the Circular, staff of the Ontario Securities Commission has requested that pursuant to Multilateral CSA Staff Notice 61-302 and the review program thereunder, the Company provide supplemental disclosure with respect to the Company’s assessment of “collateral benefits” as such term is defined in Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions ("MI 61-101").

MI 61-101 provides that, in certain circumstances, where a "related party" (as defined in MI 61-101) of an issuer is entitled to receive a collateral benefit in connection with an arrangement transaction such as the Transaction, such transaction may be considered a "business combination" for the purposes of MI 61-101 and subject to minority shareholder approval requirements.

A collateral benefit includes any benefit that a related party of the subject company (which includes the directors and executive officers of the subject company) is entitled to receive as a consequence of the transaction including such benefits as an increase in salary or a lump sum payment on a change of control. However, a benefit received by a related party is not considered to be a collateral benefit under MI 61-101 if, among other things, (i) at the time the transaction was agreed to, the related party and its associated entities beneficially owned or exercised control or direction over less than 1% of the outstanding equity securities of the subject company, or (ii) for business combinations: (a) the related party discloses to an independent committee of the subject company the amount of consideration that the related party expects it will be beneficially entitled to receive, under the terms of the transaction, in exchange for the equity securities beneficially owned by the related party; (b) the independent committee, acting in good faith, determines that the value of the benefit, net of any offsetting costs to the related party, is less than 5% of the value referred to in clause (a); and (c) the independent committee's determination is disclosed in the disclosure document for the transaction.

If it is determined that a related party is to receive a collateral benefit in connection with the Transaction, the resolution approving the Transaction (the "Arrangement Resolution") will require "minority approval" in accordance with MI 61-101. This means the Arrangement Resolution must be approved by a majority of the votes cast, excluding those votes beneficially owned, or over which control or direction is exercised, by the related parties of the Company who receive a collateral benefit. This approval is in addition to the requirement that the Arrangement Resolution be approved by not less than two-thirds of the votes cast by Securityholders at the Meeting.

If the Transaction is completed, the vesting of currently unvested RSUs is to be accelerated, which accelerated vesting is generally considered a benefit. The table below sets out the related parties to Awakn that are entitled to the benefit of accelerated vesting of unvested RSUs, and whether or not the exclusions to the determination of collateral benefit provided for in MI 61-101 apply to each related party.

Related Parties	Number of Common Shares Beneficially Held (including vested RSUs and DSUs) and % of class(1)	Number of Unvested RSUs held	% of Consideration that Benefit Represents	Collateral Benefit
Anthony Tennyson	2,222,206 5.18%	100,500	4.52%	No
Jonathan Held	1,113,654 2.59%	100,500	9.02%	Yes
Paul Carter	358,322 0.83%	36,850	10.28%	No
George Scorsis	1,480,475 3.45%	50,250	3.39%	No
Stephen Page	391,150 0.91%	36,850	9.42%	No
John Papastergiou	362,400 0.84%	36,850	10.17%	No
David Nutt	757,650 1.76%	53,600	7.07%	Yes

• Based on 42,922,623 Awakn Shares outstanding on a non-diluted basis.

Each of Messrs. Carter, Page and Papastergiou beneficially owns less than 1% of the outstanding Common Shares. Therefore, the accelerated vesting of their respective RSUs would not constitute collateral benefits.

Each of the related parties noted in the table above disclosed to an independent committee of Awakn’s board of directors comprised of George Scorsis,Stephen Page, Paul Carter, and John Papastergiou (the “Special Committee”) the amount of consideration that each expects he will be beneficially entitled to receive, under the terms of the Arrangement, in exchange for his Common Shares. The Special Committee, acting in good faith, determined that (with George Scorsis recusing himself from consideration and voting in respect of the determination related to his unvested RSUs), in the case of Anthony Tennyson and George Scorsis, the value of the accelerated vesting of their respective unvested RSUs, net of any offsetting costs, is less than 5% of the value that each expects to receive under the terms of the Arrangement in exchange for their respective Common Shares. Therefore, the accelerated vesting of the unvested RSUs held by Messrs. Tennyson and Scorsis would not constitute collateral benefits.

Messrs. Held and Nutt are each expected to receive a collateral benefit as a consequence of the Transaction and, therefore, the Transaction constitutes a “business combination” pursuant to MI 61-101, for which minority approval is required. Accordingly, all of the Common Shares beneficially owned, directly or indirectly, or over which control or direction is exercised, by Jonathan Held, Chief Financial Officer of Awakn and Prof. David Nutt, Chief Research Officer of Awakn, representing, as of March 13, 2025 (the "Record Date"), approximately 3.65% of the issued and outstanding Common Shares, on a non-diluted basis, will be excluded in determining whether minority approval for the Transaction is obtained.

As of the Record Date, the Common Shares to be excluded for purposes of the minority approval requirement are set out below:

Shareholder	Common Shares	Percentage of Issued and Outstanding Common Shares
Jonathan Held	914,154	2.13%
Prof. David Nutt	651,250	1.52%
Total	1,565,404	3.65%

The Company is not required to obtain a formal valuation under MI 61-101 as (i) no "interested party" (as defined in MI 61-101) is, as a consequence of the Transaction, directly or indirectly acquiring the Company and (ii) an "interested party" is not a party to any "connected transaction" (as defined in MI 61-101) to the Transaction that is a "related party transaction" (as defined in MI 61-101) for which Awakn would be required to obtain a formal valuation. No prior valuations of Awakn have been made in the past 24 months and no bona fide prior offers that relate to the subject matter of, or are relevant to, the Transaction, have been received by the Company in the past 24 months.

About Solvonis

Solvonis Therapeutics plc (LSE: SVNS) formerly, Graft Polymer (UK) plc, is UK incorporated LSE-listed innovative biotechnology company focused on developing intellectual property and co-developing therapeutics for mental health and substance use disorders. Its therapeutic priorities include trauma-related mental health disorders such as Post-Traumatic Stress Disorder, which affects approximately 13 million adults in the US and 20 million across the US, UK, and key EU markets. The company emphasises growth through strategic collaborations, joint ventures, and acquisitions.

About Awakn Life Sciences Corp.

Awakn Life Sciences Corp. is a clinical-stage biotechnology company developing therapeutics targeting addiction. Awakn has a near-term focus on Alcohol Use Disorder, a condition affecting 40 million people in the US and key international markets and 285m people globally for which the current standard of care is inadequate. Our goal is to provide breakthrough therapeutics to addiction sufferers in desperate need and our strategy is focused on commercializing our R&D pipeline across multiple channels. 

Notice Regarding Forward-Looking Information

Certain statements contained in this news release constitute forward-looking information under applicable Canadian, United States and other applicable securities laws, rules and regulations, including, without limitation, statements with respect to the completion of the Transaction, the conditions to the completion of the Transaction that must be fulfilled and the anticipated benefits and advantages of the Transaction. These statements relate to future events or future performance. The use of any of the words “could”, “intend”, “expect”, “believe”, “will”, “projected”, “estimated” and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on Awakn's current beliefs or assumptions as to the outcome and timing of such future events. There can be no assurance that such statements will prove to be accurate, as Awakn's actual results and future events could differ materially from those anticipated in these forward-looking statements. Factors that could cause actual results and future events to differ materially from those anticipated in these forward-looking statements include the risks, uncertainties and other factors and assumptions made with regard to Awakn's ability to complete the proposed Transaction; and Awakn's ability to secure the necessary securityholder, legal and regulatory approvals required to complete the Transaction. Important factors that could cause actual results to differ materially from Awakn's expectations include risks associated with the business of Solvonis and Awakn; risks related to the satisfaction or waiver of certain conditions to the closing of the Transaction; non-completion of the Transaction; fluctuations in currency exchange rates; and other risk factors as detailed from time to time and additional risks identified in Awakn’s filings with Canadian securities regulators on SEDAR+ in Canada (available at www.sedarplus.ca). Various assumptions or factors are typically applied in drawing conclusions or making the forecasts or projections set out in forward-looking information. Those assumptions and factors are based on information currently available to Awakn. The forward- looking information contained in this news release is made as of the date hereof and Awakn undertakes no obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. Because of the risks, uncertainties and assumptions contained herein, investors should not place undue reliance on forward-looking information. The foregoing statements expressly qualify any forward-looking information contained herein.

Investor Enquiries:

Jonathan Held, CFO, Awakn Life Sciences

jonathanh@awaknlifesciences.com

416-270-9566

TORONTO, CANADA, February 27, 2025 – Awakn Life Sciences Corp. (CSE: AWKN, OTCQB: AWKNF, FSE: 954) (“Awakn” or the “Company”) a clinical-stage biotechnology company developing therapeutics for substance use and mental health disorders, is pleased to announce that, further to its press release of December 16, 2024, the Company has entered into an arrangement agreement dated February 22, 2025 (the “Agreement”) with Solvonis Therapeutics plc (LSE: SVNS) (formerly, Graft Polymer (UK) PLC) ("Solvonis") setting out the basis on which the parties will cooperate to execute a transaction whereby Solvonis will acquire all of the outstanding common shares (the "Common Shares") in the capital of the Company, all outstanding restricted share units (the "RSUs") in the capital of the Company, and all outstanding deferred share units (the "DSUs") in the capital of the Company, pursuant to a plan of arrangement (the “Transaction”).

Pursuant to the Agreement, each Awakn shareholder will receive 46.67 ordinary shares in the capital of Solvonis (the “Consideration Shares”) (each, a "Solvonis Share") for each one (1) Common Share held. Holders of RSUs and DSUs will receive 46.67 Solvonis Shares for each one (1) DSU and one (1) RSU, respectfully. All issued and outstanding Common Share purchase warrants (each, a "Warrant") shall be converted into or exchanged for new ordinary share purchase warrants (each, a "Solvonis Warrant") with adjustments to: (i) the number of Solvonis Shares issued upon exercise of the Warrants; and (ii) the exercise price, such that the Warrant holder will be entitled to receive upon exercise of the Solvonis Warrants that number of Solvonis Shares at such exercise price that the holder would have been entitled to receive had it exercised the Warrants immediately prior to the closing of the Transaction. It is intended that Awakn will seek consent from holders of all outstanding stock options to cancel such options.

Benefits to Awakn Shareholders

• Premium.  Under the terms of the Agreement, the consideration payable by Solvonis to shareholders of Awakn implies a value of C$0.146 per Common Share which represents a 53.52% premium to the closing share price of the Common Share on the Canadian Securities Exchange ("CSE") on December 13, 2024, the last trading day prior to the date of the announcement of the Arrangement and trading of the Awakn Common Shares was halted, and a 37.59% premium to the volume weighted average trading price of Common Share on the CSE over the 90 trading days ending on December 13, 2024.
• Access to Capital.  The Arrangement will provide Awakn, through Solvonis' listing on the London Stock Exchange (the "LSE"), with direct access to the London international capital markets and to a broader range of investors – including a range of institutional investors – than as offered by the CSE.
• Future Development.  The risks and potential rewards associated with Awakn continuing to execute its business and strategic plan as an independent entity, as an alternative to the Transaction, and that Solvonis will be better positioned to pursue a growth and value maximizing strategy as compared with Awakn on a standalone basis, as a result of Solvonis' larger market capitalization, increased technical expertise, asset diversification, increased financial capacity and enhanced access to capital over the long term and the likelihood of increased investor interest and access to business development opportunities due to the Solvonis' larger market presence.

Transaction Details

Upon completion of the Transaction, not including any shares issued by Solvonis pursuant to the Solvonis Financing (as defined below), existing Awakn and Solvonis shareholders will own approximately 47.47% and 52.53% of Solvonis, respectively. There are no finders fees payable by Awakn pursuant to the Transaction.

The Transaction will be completed pursuant to a court-approved plan of arrangement under the Business Corporations Act (British Columbia). The consummation of the Transaction is subject to a number of conditions customary to transactions of this nature, including, among others:

• the adoption of a resolution approving the Transaction at an annual general and special meeting of Awakn shareholders (the “Meeting”) by (i) 66⅔% of the votes cast by all Awakn shareholders present in person or represented by proxy at the Meeting; and (ii) 66⅔% of the votes cast collectively by Awakn shareholders, and holders of Awakn Warrants, RSUs and DSUs present in person or represented by proxy at the Meeting;

• the approval of Solvonis shareholders, at a general meeting of Solvonis (to be convened), of resolutions to provide authority to the Solvonis directors to issue and allot the Consideration Shares, otherwise than on a pre-emptive basis;

• immediately prior to the closing of the Transaction Solvonis having binding commitments from investors for an equity financing (at a price and otherwise on terms acceptable to Awakn) to raise sufficient working capital for the requirements of the resulting issuer for a period of at least 12 months (the “Solvonis Financing”);

• Solvonis obtaining the necessary regulatory approvals of the United Kingdom Financial Conduct Authority (“FCA”) in relation to a prospectus which Solvonis is required to publish in order for Solvonis to issue the Consideration Shares; and

• the admission of Consideration Shares to trading on the Main Market of the London Stock Exchange and to listing on the equity shares (transition) category of the FCA's Official List. 

The Agreement includes mutual covenants typical for transactions of this nature, including non- solicitation covenants and the completion of the Solvonis Financing. The Agreement provides for a $1,000,000 termination fee payable by either Awakn or Solvonis in certain circumstances.

Anthony Tennyson, the Chief Executive Officer and a director of Awakn, is also the Chief Executive Officer and a director of Solvonis. Multilateral Instrument 61‐101 – Protection of Minority Security Holders in Special Transactions MI 61-101 ("MI 61-101") provides that, in certain circumstances, where a “related party” (as defined in MI 61-101) of an issuer is entitled to receive a “collateral benefit” (as defined in MI 61-101) in connection with an arrangement transaction such as the Transaction, such transaction may be considered a “business combination” for the purposes of MI 61-101 and subject to minority shareholder approval requirements. An independent committee of Awakn’s Board (the “Special Committee”), will conduct a “collateral benefit” assessment and applicable disclosure and any vote exclusions will be disclosed in the information circular for the Meeting.

The Transaction has been unanimously approved by the respective boards of Awakn and Solvonis, with Anthony Tennyson recused from voting. The board of directors of Awakn (the "Awakn Board") formed the Special Committee to, among other things, oversee the negotiations of the terms of the Transaction. The Special Committee, following its review of the terms and conditions of the Agreement and consideration of a number of factors and after receiving advice from its advisors, including an opinion from Evans & Evans, Inc. that the consideration to be received by the securityholders of Awakn pursuant to the Transaction is fair, from a financial point of view, to such securityholders, unanimously recommended that the Awakn Board approve the Transaction. After receiving the recommendation of the Special Committee and advice from its advisors, the Awakn Board has, with Anthony Tennyson recused from voting, unanimously determined that the Transaction is in the best interests of Awakn and recommends that securityholders of Awakn vote in favour of the Transaction.

Awakn shareholders representing an aggregate of over 50.69% of the outstanding Awakn Common Shares, and Awakn securityholders representing an aggregate of over 50.58% of the outstanding Awakn voting securities have entered into voting support agreements with Solvonis, pursuant to which such holders have agreed to vote in favour of the Transaction at the Meeting. Awakn will file a material change report in respect of the Transaction, and copies of the Arrangement Agreement, the plan of arrangement and the forms of voting support agreements will be filed with the applicable Canadian securities regulators and will be available for review on SEDAR+ at www.sedarplus.ca. Full details of the Transaction will be included in the management information circular of Awakn describing the matters to be considered at the Meeting, which is expected to be mailed to the shareholders of Awakn in April 2025. Copies of the management information circular and the Agreement will be made available on SEDAR+ (www.sedarplus.ca) under the profile of Awakn.

The Transaction is expected to close during the second calendar quarter of 2025, subject to the satisfaction (or waiver) of a number of conditions precedent, including approval by the Supreme Court of British Columbia. Following completion of the Transaction, the Common Shares will be delisted from the CSE and Awakn will apply to cease to be a reporting issuer in Canada.

Advisors

Evans & Evans, Inc. are acting as financial advisor to the Special Committee and has provided a fairness opinion to the Awakn Board and Special Committee in connection with the Transaction. Irwin Lowy LLP is acting as legal counsel to Awakn in connection with the Transaction. In connection with the Transaction, Allenby Capital is acting as financial advisor to Solvonis, DuMoulin Black LLP is acting as Canadian counsel to Solvonis, and Hill Dickinson LLP is acting as UK counsel to Solvonis.

Debt Settlement

The Company is pleased to announce that, pursuant to the Policies of the CSE, the Company intends to settle an aggregate of CAD$160,000 owed to the members of the Special Committee through the issuance of 1,000,000 Awakn Shares at a price of CAD$0.16 per Awakn Share (the "Debt Settlement"). The Company intends to issue the Awakn Shares on or about March 6, 2025. The Common Shares issued pursuant to the Debt Settlement shall be subject to a four-month hold period and completion of the Debt Settlement remains subject to final acceptance of the CSE.

The Debt Settlement constitutes a "related party transaction" as defined in MI 61-101 as insiders of the Company will receive an aggregate of 1,000,000 Awakn Shares. The Company is relying on the exemptions from the valuation and minority shareholder approval requirements of MI 61-101 contained in sections 5.5(b) and 5.7(1)(a) of MI 61-101, as the Company is not listed on a specified market and neither the debt or the fair market value of the Awakn Shares to be issued pursuant to the Debt Settlement exceeds 25% of Awakn’s market capitalization, as calculated in accordance with MI 61-101.  The Company did not file a material change report at least 21 days in advance of the Debt Settlement, which the Company deems reasonable as the terms of the Debt Settlement were not yet reached.

Share Issuance to Equasy

The Company also announces that it intends to issue 260,000 Awakn Shares, at a deemed price of $0.16 per Common Share, to Equasy Entreprises Inc., a company controlled by Professor Daid Nutt, the Chief Research Officer of the Company, in satisfaction of obligations under an Intellectual Property Transfer Agreement dated March 8, 2021, as amended April 23, 2021.  (the "Equasy Issuance"). The Company intends to issue the Awakn Shares on or about March 6, 2025. The Awakn Shares issued pursuant to the Equasy Issuance shall be subject to a four-month hold period and completion of the Equasy Issuance remains subject to final acceptance of the CSE.

The Equasy Issuance constitutes a "related party transaction" as defined in MI 61-101 as an insiders of the Company will receive Awakn Shares. The Company is relying on the exemptions from the valuation and minority shareholder approval requirements of MI 61-101 contained in sections 5.5(b) and 5.7(1)(a) of MI 61-101, as the Company is not listed on a specified market and neither the debt or the fair market value of the Awakn Shares to be issued pursuant to the Equasy Issuance exceeds 25% of Awakn’s market capitalization, as calculated in accordance with MI 61-101.  The Company did not file a material change report at least 21 days in advance of the Equasy Issuance, which the Company deems reasonable as the terms of the Equasy Issuance were not yet reached.

About Solvonis

Solvonis Therapeutics plc (LSE: SVNS) formerly, Graft Polymer (UK) plc, is UK incorporated LSE-listed innovative biotechnology company focused on developing intellectual property and co-developing therapeutics for mental health and substance use disorders. Its therapeutic priorities include trauma-related mental health disorders such as Post-Traumatic Stress Disorder, which affects approximately 13 million adults in the US and 20 million across the US, UK, and key EU markets. The company emphasises growth through strategic collaborations, joint ventures, and acquisitions.

About Awakn Life Sciences Corp.

Awakn Life Sciences Corp. is a clinical-stage biotechnology company developing therapeutics targeting addiction. Awakn has a near-term focus on Alcohol Use Disorder, a condition affecting 40 million people in the US and key international markets and 285m people globally for which the current standard of care is inadequate. Our goal is to provide breakthrough therapeutics to addiction sufferers in desperate need and our strategy is focused on commercializing our R&D pipeline across multiple channels. 

Notice Regarding Forward-Looking Information

Certain statements contained in this news release constitute forward-looking information under applicable Canadian, United States and other applicable securities laws, rules and regulations, including, without limitation, statements with respect to the completion of the Transaction, the conditions to the completion of the Transaction that must be fulfilled and the anticipated benefits and advantages of the Transaction. These statements relate to future events or future performance. The use of any of the words “could”, “intend”, “expect”, “believe”, “will”, “projected”, “estimated” and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on Awakn's current beliefs or assumptions as to the outcome and timing of such future events. There can be no assurance that such statements will prove to be accurate, as Awakn's actual results and future events could differ materially from those anticipated in these forward-looking statements. Factors that could cause actual results and future events to differ materially from those anticipated in these forward-looking statements include the risks, uncertainties and other factors and assumptions made with regard to Awakn's ability to complete the proposed Transaction; and Awakn's ability to secure the necessary securityholder, legal and regulatory approvals required to complete the Transaction. Important factors that could cause actual results to differ materially from Awakn's expectations include risks associated with the business of Solvonis and Awakn; risks related to the satisfaction or waiver of certain conditions to the closing of the Transaction; non-completion of the Transaction; fluctuations in currency exchange rates; and other risk factors as detailed from time to time and additional risks identified in Awakn’s filings with Canadian securities regulators on SEDAR+ in Canada (available at www.sedarplus.ca). Various assumptions or factors are typically applied in drawing conclusions or making the forecasts or projections set out in forward-looking information. Those assumptions and factors are based on information currently available to Awakn. The forward- looking information contained in this news release is made as of the date hereof and Awakn undertakes no obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. Because of the risks, uncertainties and assumptions contained herein, investors should not place undue reliance on forward-looking information. The foregoing statements expressly qualify any forward-looking information contained herein.

Investor Enquiries:

Jonathan Held, CFO, Awakn Life Sciences

jonathanh@awaknlifesciences.com 416-270-9

Toronto, Canada – January 28, 2025 – Awakn Life Sciences Corp. (CSE: AWKN, OTCPink: AWKNF, FSE: 954) ("Awakn" or the "Company"), a clinical-stage biotechnology company focused on developing therapeutics for substance use and mental health disorders, is pleased to provide an update on its research and development (R&D) programs.

Awakn currently has three main R&D programs:

1. AWKN-001

An investigational, novel combination therapy, consisting of an N-methyl-D-aspartate receptor-modulating drug (ketamine) delivered intravenously (IV) in combination with manualized relapse prevention cognitive behavioral therapy (CBT) for the treatment of severe Alcohol Use Disorder (AUD) in the UK and potentially the EU.

• Current Status: AWKN-001 is in Phase 3 in the UK. The trial is co-funded by a partnership between the UK’s Medical Research Council (MRC) and the National Institute for Health and Care Research (NIHR), and Awakn Life Sciences Corp. It is managed by the University of Exeter Clinical Trials Unit. Awakn’s costs for this trial are capped at GB£800,000 / CA$1.4m.

• Regulatory Path and Exclusivity: Awakn is targeting a Regulation 52b hybrid application in the UK for AWKN-001. If successful, this could provide 8 years of market exclusivity, with an additional 2 years of supplementary protection, preventing competitors from marketing a similar product for the same indication.

2. AWKN-002

A proprietary oral thin film (OTF) formulation of esketamine for sublingual and buccal administration, developed in combination with structured alcohol education for moderate to severe Alcohol Use Disorder (AUD) in the U.S.

• Current Status: Awakn has in-licensed a Phase 1 program from LTS Lohmann Therapie-Systeme AG and completed two mechanistic studies in AUD with AWKN-002. These studies were used to file method-of-use patents. Awakn also completed a Pre-Investigational New Drug (Pre-IND) meeting with the U.S. Food and Drug Administration (FDA), which confirmed that AWKN-002 can be reviewed under the 505(b)(2) NDA pathway. The FDA further confirmed that no additional clinical data are needed to proceed with a Phase 2b trial in patients with moderate to severe AUD.

• Regulatory Path and Exclusivity: Awakn plans to submit an IND Application for AWKN-002 in H2 2025, followed by a Clinical Trial Application (“CTA”) for a Phase 2b trial in H1 2026. In due course, Awakn will submit a NDA under the 505(b)(2) pathway. The reference product for Awakn’s NDA will be J&J’s Spravato®, which is forecast to achieve US$1bn in sales in 2024. Subject to successful clinical trial outcomes and FDA approval, AWKN-002 could be granted up to 5 years of market exclusivity in the US for the treatment of AUD, provided its patents are granted and recognised in the US Orange Book. Awakn anticipates that the Phase 2b clinical trial application will be made in 2026.

3. AWKN-SND-14

A series of serotonin, dopamine, and noradrenaline modulators under pre-clinical investigation for trauma-related mental health disorders, including Post-Traumatic Stress Disorder (PTSD). This program was previously referred to as Awakn's aminoindane new chemical entity program.

• Program Focus: AWKN-SND-14 is designed to promote pro-social behavior with a potentially improved safety profile compared to current investigational PTSD treatments. By enhancing trust, empathy, and social bonding—critical elements in addressing PTSD—AWKN-SND-14 aims to help individuals rebuild relationships, overcome isolation, and engage more effectively in therapy.

Anthony Tennyson, CEO of Awakn, commented: "We are excited about the progress across our key R&D programs, particularly in the areas of Alcohol Use Disorder and PTSD. With the advancements we've made in AWKN-001 and AWKN-002, we're on track to deliver transformative therapies for patients in need of more effective solutions."

Prof. David Nutt, Chief Research Officer of Awakn, added: "Our ongoing work with AWKN-SND-14 is especially promising, as it targets the underlying mechanisms of PTSD. We're optimistic about its potential to offer a safer, more effective option for individuals suffering from trauma-related disorders."

About AUD

Alcohol Use Disorder (AUD) is a chronic, relapsing brain health disorder characterized by compulsive alcohol use, loss of control over drinking, and negative emotional states when not using alcohol. It affects individuals across diverse demographics and can lead to a wide range of physical, psychological, and social consequences. AUD affects approximately 29 million[1] adults in the US with the Company estimating a current affected population of 40 million in the US and US and key European markets. Despite this high prevalence treatment success rates are very low with up to 75% of patients with AUD returning to harmful drinking within 12 months of treatment[2]. This high prevalence rate and low treatment success rate create a significant unmet medical need, a significant public health concern, and an enormous economic cost $249 billion in the US[3].

About PTSD

PTSD is a debilitating mental health condition characterized by persistent and distressing symptoms resulting from exposure to traumatic events. Individuals with PTSD often experience intrusive memories, flashbacks, nightmares, hypervigilance, and avoidance behaviors, leading to significant impairment in daily functioning and overall well-being. Despite its prevalence, with an estimated 13[4] million adults in the US and with the Company estimating a current affected population of 20 million in the US and key European markets affected by PTSD, the condition remains underdiagnosed and underserved. Current treatment options often fall short in providing adequate relief, leaving many individuals without effective therapeutic solutions

About Awakn Life Sciences Corp.

Awakn Life Sciences Corp. is a clinical-stage biotechnology company developing therapeutics targeting substance use and mental health disorders. Awakn has a near-term focus on AUD, a condition affecting approximately 29 million adults in the US and approximately 40 million in the US and key European markets for which the current standard of care is inadequate. Our goal is to provide breakthrough therapeutics to addiction sufferers in desperate need and our strategy is focused on commercialising our R&D pipeline across multiple channels.

www.awaknlifesciences.com | LinkedIn | X (formerly Twitter) 

Notice Regarding Forward-Looking Information

This news release contains certain forward-looking information and forward-looking statements, as defined in applicable securities laws (collectively referred to herein as “forward-looking statements”). Forward-looking statements reflect current expectations or beliefs regarding future events or the Company’s future performance. All statements other than statements of historical fact are forward-looking statements. Often, but not always, forward-looking statements can be identified by the use of words such as “plans”, “expects”, “is expected”, “budget”, “scheduled”, “estimates”, “continues”, “forecasts”, “projects”, “predicts”, “intends”, “anticipates”, “targets” or “believes”, or variations of, or the negatives of, such words and phrases or state that certain actions, events or results "may", "could", ”would”, “should”, “might” or “will” be taken, occur or be achieved, including statements relating the business of the Company. All forward-looking statements, including those herein are qualified by this cautionary statement.

Although the Company believes that the expectations expressed in such statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the statements. There are certain factors that could cause actual results to differ materially from those in the forward-looking information. These include, but are not limited to: fluctuations in general macroeconomic conditions; the business plans and strategies of the Company; the ability of the Company to comply with all applicable governmental regulations in a highly regulated business; the inherent risks in investing in target companies or projects which have limited or no operating history and are engaged in activities currently considered illegal in some jurisdictions; changes in laws; limited operating history; reliance on management; requirements for additional financing; competition; fluctuations in securities markets; inconsistent public opinion and perception regarding the medical-use of psychedelic drugs; expectations regarding the size of the addiction market; and regulatory or political change. Readers are cautioned that the foregoing list of factors is not exhaustive of the factors that may affect forward-looking statements. Accordingly, readers should not place undue reliance on forward-looking statements. The forward-looking statements in this news release speak only as of the date of this news release or as of the date or dates specified in such statements.

Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking information. For more information on the Company, investors are encouraged to review the Company’s public filings on SEDAR at www.sedar.com. The Company disclaims any intention or obligation to update or revise any forward- looking information, whether as a result of new information, future events or otherwise, other than as required by law.

Investor Enquiries:

Anthony Tennyson, CEO, Awakn Life Sciences

anthony.tennyson@awaknlifesciences.com

416-270-9566

---

[1] Substance Abuse and Mental Health Administration, 2022 National Survey on Drug Use and Health (NSDUH).

[2] Treatment rates for alcohol use disorders: a systematic review and meta-analysis, (Mekonen et al., 2021).

[3] National Institute for Alcoholism and Alcohol Abuse (NIAAA), Economic Burden of Alcohol Misuse in the United States

[4] US VA National Center for PTSD. US Department of Veterans Affairs.

Toronto, Canada – January 20, 2025 – Awakn Life Sciences Corp. (CSE: AWKN, OTCPIN: AWKNF, FSE: 954) (“Awakn” or the “Company”), a clinical-stage biotechnology company developing therapeutics for substance use and mental health disorders, announces a positive outcome from its Pre-Investigational New Drug (Pre-IND) meeting with the U.S. Food and Drug Administration (FDA), which took place on December 16, 2024. The meeting addressed the continued development of AWKN-002, a proprietary oral thin film (OTF) formulation of esketamine designed for sublingual and buccal administration in combination with structured alcohol education, being developed for moderate to severe alcohol use disorder (AUD).

The Pre-IND meeting provided an opportunity for the Company to discuss its Investigational New Drug (IND) development plan and receive FDA guidance on nonclinical and clinical study requirements for its new drug candidate. During the meeting, the FDA provided constructive feedback and expressed support for Awakn's proposed development strategy. Notably, the FDA confirmed that no additional clinical data are required prior to initiating a Phase 2b trial for AWKN-002 in patients with moderate to severe AUD.

The FDA also agreed that AWKN-002 can be reviewed under the 505(b)(2) New Drug Application (NDA) approval pathway, which allows the use of data from an approved esketamine product to support the development of AWKN-002 for AUD treatment once a scientific bridge between AWKN-002 and the reference product has been established.

Anthony Tennyson, Chief Executive Officer of Awakn, stated, “We are pleased with the outcome of our Pre-IND meeting with the FDA. The FDA’s support for our development strategy, particularly their confirmation that we can proceed to Phase 2b once a suitable scientific bridge to the product has been established, marks a significant milestone for Awakn. This feedback provides us with a clear and efficient path forward in the development of AWKN-002, a novel treatment for AUD, an area of substantial unmet medical need.”

Prof. David Nutt, Chief Research Officer of Awakn, added, “The FDA’s recognition of our development strategy, and their willingness to support progression to Phase 2b, further validates the potential of AWKN-002 as a therapeutic for AUD. We look forward to continuing our work to bring this promising treatment to patients in need.”

Awakn is planning to submit its IND application and initiate the Phase 2b clinical trial for AWKN-002 in patients with AUD once a scientific bridge to the reference product has been suitably established.

About AUD

Alcohol Use Disorder (AUD) is a chronic, relapsing brain health disorder characterized by compulsive alcohol use, loss of control over drinking, and negative emotional states when not using alcohol. It affects individuals across diverse demographics and can lead to a wide range of physical, psychological, and social consequences. AUD affects approximately 29 million ^[1] adults in the US with the Company estimating a current affected population of 40 million in the US and US and key European markets. Despite this high prevalence treatment success rates are very low with up to 75% of patients with AUD returning to harmful drinking within 12 months of treatment[2]. This high prevalence rate and low treatment success rate create a significant unmet medical need, a significant public health concern, and an enormous economic cost $249 billion in the US[3].

About Awakn Life Sciences Corp.

Awakn Life Sciences Corp. is a clinical-stage biotechnology company developing therapeutics targeting substance use and mental health disorders. Awakn has a near-term focus on AUD, a condition affecting approximately 29 million adults in the US with the Company estimating a current affected population of 40 million in the US and US and key European markets for which the current standard of care is inadequate. Our goal is to provide breakthrough therapeutics to addiction sufferers in desperate need and our strategy is focused on commercialising our R&D pipeline across multiple channels.

www.awaknlifesciences.com | LinkedIn | X (formerly Twitter) 

Notice Regarding Forward-Looking Information

This news release contains certain forward-looking information and forward-looking statements, as defined in applicable securities laws (collectively referred to herein as “forward-looking statements”). Forward-looking statements reflect current expectations or beliefs regarding future events or the Company’s future performance. All statements other than statements of historical fact are forward-looking statements. Often, but not always, forward-looking statements can be identified by the use of words such as “plans”, “expects”, “is expected”, “budget”, “scheduled”, “estimates”, “continues”, “forecasts”, “projects”, “predicts”, “intends”, “anticipates”, “targets” or “believes”, or variations of, or the negatives of, such words and phrases or state that certain actions, events or results "may", "could", ”would”, “should”, “might” or “will” be taken, occur or be achieved, including statements relating the business of the Company. All forward-looking statements, including those herein are qualified by this cautionary statement.

Although the Company believes that the expectations expressed in such statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the statements. There are certain factors that could cause actual results to differ materially from those in the forward-looking information. These include, but are not limited to: fluctuations in general macroeconomic conditions; the business plans and strategies of the Company; the ability of the Company to comply with all applicable governmental regulations in a highly regulated business; the inherent risks in investing in target companies or projects which have limited or no operating history and are engaged in activities currently considered illegal in some jurisdictions; changes in laws; limited operating history; reliance on management; requirements for additional financing; competition; fluctuations in securities markets; inconsistent public opinion and perception regarding the medical-use of psychedelic drugs; expectations regarding the size of the addiction market; and regulatory or political change. Readers are cautioned that the foregoing list of factors is not exhaustive of the factors that may affect forward-looking statements. Accordingly, readers should not place undue reliance on forward-looking statements. The forward-looking statements in this news release speak only as of the date of this news release or as of the date or dates specified in such statements.

Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking information. For more information on the Company, investors are encouraged to review the Company’s public filings on SEDAR at www.sedar.com. The Company disclaims any intention or obligation to update or revise any forward- looking information, whether as a result of new information, future events or otherwise, other than as required by law.

Investor Enquiries:

Anthony Tennyson, CEO, Awakn Life Sciences

anthony.tennyson@awaknlifesciences.com

416-270-95

---

[1] Substance Abuse and Mental Health Administration, 2022 National Survey on Drug Use and Health (NSDUH).

[2] Treatment rates for alcohol use disorders: a systematic review and meta-analysis, (Mekonen et al., 2021).

[3] National Institute for Alcoholism and Alcohol Abuse (NIAAA), Economic Burden of Alcohol Misuse in the United States

TORONTO, CANADA, December 16, 2024 – Awakn Life Sciences Corp. (CSE: AWKN, OTCQB: AWKNF, FSE: 954) (“Awakn” or the “Company”) a clinical-stage biotechnology company developing therapeutics for substance use and mental health disorders, is pleased to announce that it has entered into a binding letter of intent (the "LOI") dated December 15, 2024, with Graft Polymer (UK) PLC (“Graft”), pursuant to which Graft would acquire all of the issued and outstanding common shares (the "Common Shares") in the capital of the Company, all outstanding restricted share units (the "RSUs") in the capital of the Company, and all outstanding deferred share units (the "DSUs") in the capital of the Company, to be carried out by way of a statutory plan of arrangement in British Columbia (the "Proposed Transaction").

Graft is biotechnology company incorporated in the United Kingdom with its ordinary shares listed on the London Stock Exchange under the symbol “GPL”,and is currently focused on developing intellectual property and co-developing therapeutics for mental health and substance use disorders. Anthony Tennyson, the Chief Executive Officer and a director of Awakn, was also appointed as Graft’s part-time Chief Executive Officer and to its board of directors in May 2024.

Under the terms of the LOI, each Awakn shareholder will receive 46.67 ordinary shares in the capital of Graft (the “Consideration Shares”) (each, a "Graft Share") for each one (1) Common Share held. Holders of RSUs and DSUs will receive 46.67 Graft Shares for each one (1) DSU and one (1) RSU, respectfully. All issued and outstanding Common Share purchase warrants (each, a "Warrant") shall be converted into or exchanged for new ordinary share purchase warrants (each, a "Graft Warrant") with adjustments to: (i) the number of Graft Shares issued upon exercise of the Warrants; and (ii) the exercise price, such that the Warrant holder will be entitled to receive upon exercise of the Graft Warrants that number of Graft Shares at such exercise price that the holder would have been entitled to receive had it exercised the Warrants immediately prior to the closing of the Proposed Transaction. It is intended that Awakn will seek consent from holders of outstanding stock options to cancel such options.

The number of Consideration Shares, based on the latest valuation of Graft on the LSE, is 2,074,378,592, resulting in a total acquisition price of $8,890,194, using an exchange rate of 0.56 GBP:CAD.  This results in the Company’s Common Shares being valued at $0.20 per Common Share, which is a 110.54% premium to the closing share price of Awakn’s Common Shares on the Canadian Securities Exchange on December 13, 2024 and a 88.69% premium to a 90-day VWAP.

“This proposed acquisition by Graft Polymer marks a significant milestone for Awakn Life Sciences and our mission to provide breakthrough therapeutics for substance use and other mental health disorders.  We have had a significant portion of our operations in the UK for the entire life of our business and following completion of the Proposed Transaction, Awakn will have access to the UK’s deep pool of liquidity as well as the international investor base positioned in London. We believe this transaction will create long-term value for our shareholders and provide new opportunities for growth and collaboration.” stated George Scorsis, Chairman of the Board of Directors and Special Committee.

Dennis Purcell, Chairman of Graft Polymer, commented: “This proposed acquisition marks an important milestone for Graft Polymer as we broaden our focus to address the pressing global challenges of addiction and mental health disorders. Awakn’s advanced research and clinical programs offer the potential to develop more effective and accessible treatments for these critical areas of need. We believe this strategic move will not only drive value for our shareholders but also contribute meaningfully to improving the lives of millions impacted by these conditions.”

The LOI has been unanimously approved by the respective boards of Awakn and Graft. The board of directors of Awakn (the "Awakn Board") formed a special committee of independent directors (the "Special Committee") to, among other things, oversee the negotiations of the terms of the LOI, as Anthony Tennyson is the Chief Executive Officer of both Awakn and Graft.

The Special Committee, following its review of the terms and conditions of the LOI and, in consideration of a number of factors including the premium to be received by shareholders of Awakn, opportunities for the business of Awakn upon completion of the Proposed Transaction, the alternatives available to Awakn, and the conditions to close the Proposed Transaction (including a due diligence review to the satisfaction of Awakn), unanimously recommended that the Awakn Board approve the LOI. After receiving the recommendation of the Special Committee and advice from its advisors, the Awakn Board, with Mr. Tennyson recusing himself from the vote, has unanimously approved, the execution of the LOI. As Mr. Tennyson has recused himself from Awakn Board discussions and the vote approving the LOI, Awakn expects that the Proposed Transaction will be considered an arms-length transaction.

Prior to executing the definitive transaction agreement in connection with the Proposed Transaction, the Special Committee intends to procure a fairness opinion regarding the consideration to be received by shareholders of Awakn pursuant to the Proposed Transaction.  

The Proposed Transaction is deemed to be a Fundamental Change (as defined in the policies of the Canadian Securities Exchange (the "CSE") and the trading of the Common Shares shall remain halted until the completion of the Proposed Transaction in accordance with CSE Policy 8.

Completion of the Proposed Transaction, which must occur by June 15, 2025 (the "Long Stop Date"), is subject to customary conditions including, but not limited to: (i) satisfactory due diligence completed by both parties; (ii) approval of the boards of directors of both parties; (iii) court approval of the plan of arrangement; (iv) the Company and Graft entering into a definitive agreement; (v) the approval of shareholders of the Company for Proposed Transaction and shareholders of Graft to issue the Consideration Shares; (vi) receipt of all required third party consents, including approval by the CSE and the United Kingdom Financial Conduct Authority;  and (vii) Graft completing a financing of no less than eighteen months working capital (the "Concurrent Financing").

Following completion of the Proposed Transaction, the Common Shares will be delisted from the CSE and Awakn will apply to cease to be a reporting issuer in Canada.

The LOI includes customary termination provisions, including the provision that if Proposed Transaction does not close by the Long Stop Date, the LOI will automatically be terminated.

About Graft

Graft Polymer (LON:GPL), is UK incorporated LSE listed innovative biotechnology company focused on developing intellectual property and co-developing therapeutics for mental health and substance use disorders. Its therapeutic priorities include trauma-related mental health disorders such as PTSD, which affects approximately 13 million adults in the U.S. and 20 million across the US, UK, and key EU markets. The company emphasises growth through strategic collaborations, joint ventures, and acquisitions.

About Awakn Life Sciences Corp.

Awakn Life Sciences Corp. is a clinical-stage biotechnology company developing therapeutics targeting addiction. Awakn has a near-term focus on Alcohol Use Disorder, a condition affecting 40 million people in the US and key international markets and 285m people globally for which the current standard of care is inadequate. Our goal is to provide breakthrough therapeutics to addiction sufferers in desperate need and our strategy is focused on commercializing our R&D pipeline across multiple channels. 

www.awaknlifesciences.com  |  Twitter  |  LinkedIn 

Notice Regarding Forward-Looking Information

This news release contains certain forward-looking information and forward-looking statements, as defined in applicable securities laws (collectively referred to herein as “forward-looking statements”). Forward-looking statements reflect current expectations or beliefs regarding future events or the Company’s future performance. All statements other than statements of historical fact are forward-looking statements. Often, but not always, forward-looking statements can be identified by the use of words such as “plans”, “expects”, “is expected”, “budget”, “scheduled”, “estimates”, “continues”, “forecasts”, “projects”, “predicts”, “intends”, “anticipates”, “targets” or “believes”, or variations of, or the negatives of, such words and phrases or state that certain actions, events or results "may", "could", ”would”, “should”, “might” or “will” be taken, occur or be achieved, including statements relating the business of the Company. All forward-looking statements, including those herein are qualified by this cautionary statement.

Although the Company believes that the expectations expressed in such statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the statements. There are certain factors that could cause actual results to differ materially from those in the forward-looking information. These include, but are not limited to: fluctuations in general macroeconomic conditions; the business plans and strategies of the Company; the ability of the Company to comply with all applicable governmental regulations in a highly regulated business; the inherent risks in investing in target companies or projects which have limited or no operating history and are engaged in activities currently considered illegal in some jurisdictions; changes in laws; limited operating history; reliance on management; requirements for additional financing; competition; fluctuations in securities markets; inconsistent public opinion and perception regarding the medical-use of psychedelic drugs; expectations regarding the size of the addiction market; and regulatory or political change. Readers are cautioned that the foregoing list of factors is not exhaustive of the factors that may affect forward-looking statements. Accordingly, readers should not place undue reliance on forward-looking statements. The forward-looking statements in this news release speak only as of the date of this news release or as of the date or dates specified in such statements.

Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking information. For more information on the Company, investors are encouraged to review the Company’s public filings on SEDAR at www.sedar.com. The Company disclaims any intention or obligation to update or revise any forward- looking information, whether as a result of new information, future events or otherwise, other than as required by law.

Investor Enquiries:

Jonathan Held, CFO, Awakn Life Sciences

jonathanh@awaknlifesciences.com

416-270-9566

Toronto, Canada – December 11, 2024 – Awakn Life Sciences Corp. (CSE: AWKN, OTCQB: AWKNF, FSE: 954) (“Awakn” or the “Company”), a clinical-stage biotechnology company developing therapeutics for substance use and mental health disorders, today announces initial results from a preclinical study of its co-lead aminoindane series (AW21003) conducted by the University of Nottingham. This program focuses on new therapeutic options for trauma-related mental health disorders, particularly Post-Traumatic Stress Disorder (PTSD).

Aminoindanes are a class of compounds being explored in pre-clinical models by Awakn for their ability to promote pro-social behavior with a potentially improved safety profile compared to existing options under investigation for PTSD. Pro-social behavior, which includes actions that foster trust, empathy, and social bonding, is increasingly recognized as a key factor in addressing PTSD. Enhancing these behaviors could help individuals with PTSD overcome feelings of isolation, rebuild interpersonal relationships, and engage more effectively in therapeutic interventions.

Study Highlights:

• Social Interaction and Information Transfer: AW21003 demonstrated the ability to enhance the speed at which observer animals consumed a demonstrated (correct) versus novel (incorrect) flavored diet, suggesting a positive impact on social transfer and retention of information.

• Behavioral Safety Indicators: Unlike MDMA, the test standard, which is known to cause stereotyped behaviors such as flat body posture and lateral head weaving in similar studies, no such behaviors were observed in AW21003-treated animals. This suggests a favorable safety profile for AW21003.

• Unique Observations: Test-standard treated animals unexpectedly showed a preference for the correct diet, suggesting baseline pro-social tendencies in the experimental design. AW21003-treated animals displayed complex outcomes in food intake preferences, warranting further analysis.

The study, announced on October 15, 2024, was led by Dr. Madeleine King, Assistant Professor in the School of Life Sciences in the Faculty of Medicine & Health Sciences at the University of Nottingham.

Awakn’s aminoindane NCE program, developed in collaboration with Graft Polymer (UK) Plc, is designed to address significant unmet medical needs, including PTSD, which affects approximately 13 million adults in the U.S. and 20 million individuals across the U.S., UK, and Europe.

Next Steps

Based on these promising early results, Awakn will expand its aminoindane program to synthesize a further range of aminoindane compounds in collaboration with Concept Life Sciences. These compounds will be screened against serotonin, dopamine, and norepinephrine release. Additional preclinical behavioral studies with the University of Nottingham are also planned to further explore and validate the therapeutic potential of this class of compounds.

Dr. Madeleine King of the University of Nottingham commented “These findings appear extremely promising for the aminoindane new chemical entities. AW21003 showed positive effects on social transfer of information, without any of the additional unwanted behaviors induced MDMA. I am excited to continue our collaboration with Awakn as they move to the next phase of their pre-clinical program”.

Professor David Nutt, Chief Research Officer of Awakn, commented: "These findings represent an important milestone in our aminoindane program. The ability to develop compounds that combine therapeutic efficacy with improved safety has transformative potential for treating PTSD and other trauma-related conditions."

About Awakn Life Sciences Corp.

Awakn Life Sciences Corp. is a clinical-stage biotechnology company developing therapeutics targeting substance use and mental health disorders. Awakn has a near-term focus on AUD, a condition affecting approximately 29 million adults in the US and approximately 40 million in the US and key European markets for which the current standard of care is inadequate. Our goal is to provide breakthrough therapeutics to addiction sufferers in desperate need and our strategy is focused on commercialising our R&D pipeline across multiple channels.

www.awaknlifesciences.com | LinkedIn | X (formerly Twitter) 

Notice Regarding Forward-Looking Information

This news release contains certain forward-looking information and forward-looking statements, as defined in applicable securities laws (collectively referred to herein as “forward-looking statements”). Forward-looking statements reflect current expectations or beliefs regarding future events or the Company’s future performance. All statements other than statements of historical fact are forward-looking statements. Often, but not always, forward-looking statements can be identified by the use of words such as “plans”, “expects”, “is expected”, “budget”, “scheduled”, “estimates”, “continues”, “forecasts”, “projects”, “predicts”, “intends”, “anticipates”, “targets” or “believes”, or variations of, or the negatives of, such words and phrases or state that certain actions, events or results "may", "could", ”would”, “should”, “might” or “will” be taken, occur or be achieved, including statements relating the business of the Company. All forward-looking statements, including those herein are qualified by this cautionary statement.

Although the Company believes that the expectations expressed in such statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the statements. There are certain factors that could cause actual results to differ materially from those in the forward-looking information. These include, but are not limited to: fluctuations in general macroeconomic conditions; the business plans and strategies of the Company; the ability of the Company to comply with all applicable governmental regulations in a highly regulated business; the inherent risks in investing in target companies or projects which have limited or no operating history and are engaged in activities currently considered illegal in some jurisdictions; changes in laws; limited operating history; reliance on management; requirements for additional financing; competition; fluctuations in securities markets; inconsistent public opinion and perception regarding the medical-use of psychedelic drugs; expectations regarding the size of the addiction market; and regulatory or political change. Readers are cautioned that the foregoing list of factors is not exhaustive of the factors that may affect forward-looking statements. Accordingly, readers should not place undue reliance on forward-looking statements. The forward-looking statements in this news release speak only as of the date of this news release or as of the date or dates specified in such statements.

Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking information. For more information on the Company, investors are encouraged to review the Company’s public filings on SEDAR at www.sedar.com. The Company disclaims any intention or obligation to update or revise any forward- looking information, whether as a result of new information, future events or otherwise, other than as required by law.

Investor Enquiries:

Anthony Tennyson, CEO, Awakn Life Sciences

anthony.tennyson@awaknlifesciences.com

416-270-9566

Toronto, Canada – October 22, 2024 – Awakn Life Sciences Corp. (CSE: AWKN, OTCQB: AWKNF, FSE: 954) (“Awakn” or the “Company”), a clinical-stage biotechnology company developing therapeutics for substance use and mental health disorders, announces the opening of four additional clinical trial sites: University Hospitals Sussex NHS Foundation Trust; South London and Maudsley NHS Foundation Trust; Greater Manchester Mental Health NHS Foundation Trust; and University Hospitals Plymouth NHS Trust. This brings the total active trial sites to seven in the landmark ‘MORE-KARE’ Phase 3 trial of AWKN-001 for severe AUD.

AWKN-001 is an investigational, novel medication-assisted treatment for severe AUD, consisting of an N-methyl-D-aspartate receptor-modulating drug (ketamine) delivered intravenously (IV) in combination with manualized psycho-social support for severe AUD.

The MORE-KARE study, or the Multicentre Investigation of Ketamine for Reduction of Alcohol Relapse, is co-funded by a partnership between the UK’s Medical Research Council (MRC) and the National Institute for Health and Care Research (NIHR), and Awakn Life Sciences Corp. It is managed by the Exeter Clinical Trials Unit at the University of Exeter.

The Phase 3 trial aims to evaluate the efficacy of a single treatment cycle of AWKN-001. Participants will be randomly allocated into a trial arm, receiving different doses of ketamine infusion along with psycho-social support sessions from a trial therapist. The specific dose and type of psychological support for each participant will be randomly assigned by a computer. Both participants and the research team will be blinded to the assigned dose/support.

Anthony Tennyson, CEO, Awakn, commented: “The expansion of trial sites marks a significant milestone in our mission to address the pressing need for innovative treatments for AUD. We are confident that AWKN-001, has the potential to change the standard of care for individuals suffering from severe alcohol use disorder in the UK, offering them a novel, more effective treatment pathway.”

Prof. David Nutt, Chief Research Officer of Awakn, added: “The opening of these additional sites accelerates our ability to gather robust clinical data, essential for bringing this groundbreaking treatment to more patients. With the support of the UK’s leading research institutions, we are well-positioned to demonstrate the effectiveness of AWKN-001.”

This study is the largest of its kind investigating ketamine-assisted therapy for AUD. The total trial cost is estimated at £2.4 million / CAD 4.2 million, with Awakn contributing £0.8 million / CAD 1.4 million. The trial is being conducted at eight National Health Service (NHS) sites across the UK.

About AWKN-001

AWKN-001 is an investigational, novel medication-assisted treatment for severe AUD, consisting of an N-methyl-D-aspartate receptor-modulating drug (ketamine) delivered intravenously (IV) in combination with manualized psycho-social support in the UK market only.

A phase 2 trial was successfully completed with efficacy proven, achieving 86% abstinence on average over the 6 months post-treatment versus 2% pre-trial and a 50% reduction in Heavy Drinking Days versus placebo.

A phase 3 clinical trial (“MORE KARE”) is being run by the University of Exeter. This trial is co-funded by the Efficacy and Mechanism Evaluation (EME) Programme - a partnership between the UK’s National Institute for Health Research (NIHR) and the Medical Research Council (MRC) - and Awakn Life Sciences Corp.

About Awakn Life Sciences Corp.

Awakn Life Sciences Corp. is a clinical-stage biotechnology company developing therapeutics targeting substance use and mental health disorders. Awakn has a near-term focus on AUD, a condition affecting approximately 29 million adults in the US and approximately 40 million in the US and key European markets for which the current standard of care is inadequate. Our goal is to provide breakthrough therapeutics to addiction sufferers in desperate need and our strategy is focused on commercialising our R&D pipeline across multiple channels.

www.awaknlifesciences.com | LinkedIn | X (formerly Twitter) 

About the University of Exeter

The University of Exeter is the sponsor of this clinical trial with overall trial management, data management and statistical analysis provided in collaboration with the Exeter Clinical Trials Unit (University of Exeter).  At the University of Exeter, we combine teaching excellence and high levels of student satisfaction with world class research at our campuses in Exeter and Cornwall. We are a member of the Russell Group of leading research-intensive universities.

About The National Institute for Health and Care Research (NIHR)

The mission of the National Institute for Health and Care Research (NIHR) is to improve the health and wealth of the nation through research. We do this by:

• Funding high quality, timely research that benefits the NHS, public health and social care;
• Investing in world-class expertise, facilities and a skilled delivery workforce to translate discoveries into improved treatments and services;
• Partnering with patients, service users, carers and communities, improving the relevance, quality and impact of our research;
• Attracting, training and supporting the best researchers to tackle complex health and social care challenges;
• Collaborating with other public funders, charities and industry to help shape a cohesive and globally competitive research system;
• Funding applied global health research and training to meet the needs of the poorest people in low and middle income countries.

NIHR is funded by the Department of Health and Social Care. Its work in low and middle income countries is principally funded through UK Aid from the UK government.

About the Medical Research Council

The UKRI Medical Research Council is at the forefront of scientific discovery to improve human health. Founded in 1913 to tackle tuberculosis, the MRC now invests taxpayers’ money in some of the best medical research in the world across every area of health. Thirty-three MRC-funded researchers have won Nobel prizes in a wide range of disciplines, and MRC scientists have been behind such diverse discoveries as vitamins, the structure of DNA and the link between smoking and cancer, as well as achievements such as pioneering the use of randomised controlled trials, the invention of MRI scanning, and the development of a group of antibodies used in the making of some of the most successful drugs ever developed.

Today, MRC-funded scientists tackle some of the greatest health problems facing humanity in the 21st century, from the rising tide of chronic diseases associated with ageing to the threats posed by rapidly mutating micro-organisms. The Medical Research Council is part of UK Research and Innovation. 

www.mrc.ukri.org

Notice Regarding Forward-Looking Information

This news release contains certain forward-looking information and forward-looking statements, as defined in applicable securities laws (collectively referred to herein as “forward-looking statements”). Forward-looking statements reflect current expectations or beliefs regarding future events or the Company’s future performance. All statements other than statements of historical fact are forward-looking statements. Often, but not always, forward-looking statements can be identified by the use of words such as “plans”, “expects”, “is expected”, “budget”, “scheduled”, “estimates”, “continues”, “forecasts”, “projects”, “predicts”, “intends”, “anticipates”, “targets” or “believes”, or variations of, or the negatives of, such words and phrases or state that certain actions, events or results "may", "could", ”would”, “should”, “might” or “will” be taken, occur or be achieved, including statements relating the business of the Company. All forward-looking statements, including those herein are qualified by this cautionary statement.

Although the Company believes that the expectations expressed in such statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the statements. There are certain factors that could cause actual results to differ materially from those in the forward-looking information. These include, but are not limited to: fluctuations in general macroeconomic conditions; the business plans and strategies of the Company; the ability of the Company to comply with all applicable governmental regulations in a highly regulated business; the inherent risks in investing in target companies or projects which have limited or no operating history and are engaged in activities currently considered illegal in some jurisdictions; changes in laws; limited operating history; reliance on management; requirements for additional financing; competition; fluctuations in securities markets; inconsistent public opinion and perception regarding the medical-use of psychedelic drugs; expectations regarding the size of the addiction market; and regulatory or political change. Readers are cautioned that the foregoing list of factors is not exhaustive of the factors that may affect forward-looking statements. Accordingly, readers should not place undue reliance on forward-looking statements. The forward-looking statements in this news release speak only as of the date of this news release or as of the date or dates specified in such statements.

Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking information. For more information on the Company, investors are encouraged to review the Company’s public filings on SEDAR at www.sedar.com. The Company disclaims any intention or obligation to update or revise any forward- looking information, whether as a result of new information, future events or otherwise, other than as required by law.

Investor Enquiries:

Anthony Tennyson, CEO, Awakn Life Sciences

anthony.tennyson@awaknlifesciences.com

416-270-9566

Toronto, Canada – October 15, 2024 – Awakn Life Sciences Corp. (CSE: AWKN, OTCQB: AWKNF, FSE: 954) (“Awakn” or the “Company”), a clinical-stage biotechnology company developing therapeutics for substance use and mental health disorders, announces a new research partnership with the University of Nottingham, UK. This collaboration focuses on evaluating Awakn’s co-lead aminoindane series and its potential to enhance social cognition and pro-social behaviors.

The study will be led by Dr Madeleine King, Assistant Professor in the School of Life Sciences in the Faculty of Medicine & Health Sciences at the University of Nottingham, a globally recognized institution for its cutting-edge neuroscience research. Dr King, an expert in behavioral neuroscience with over 20 years of experience, is renowned for her contributions to translational research in psychiatric disorders. The study will use the Social Transmission of Food Preferences (STFP) test in rodent models. Conducted over a two-month period, the preclinical trials will explore varying dosages, with results expected by the end of 2024.

Awakn’s aminoindane NCE program, developed in collaboration with Graft Polymer (UK) Plc, focuses on creating new therapeutic options for trauma-related mental health disorders, particularly PTSD. PTSD affects approximately 13 million adults in the U.S. and 20 million individuals across the U.S., UK, and Europe. This partnership, originally announced on July 18, 2024, builds on Awakn's commitment to addressing these urgent medical needs.

This progress follows Awakn's recent partnership with Eurofins Discovery for in vitro pharmacology testing of the same aminoindane series. The selection of Eurofins marked a critical milestone, and this next phase with the University of Nottingham underscores Awakn's rapid advancements in developing next-generation treatments for mental health disorders.

Anthony Tennyson, CEO of Awakn Life Sciences, stated: “This is a pivotal step forward in our Aminoindane NCE program. We believe this novel aminoindane has the potential to revolutionize mental health treatment, offering a safer alternative for trauma-related mental health disorders such as PTSD. Our collaboration with the University of Nottingham reinforces our commitment to advancing science-backed, life-changing therapies.”

Dr King, from the School of Life Sciences at the University of Nottingham added: “I'm delighted that Awakn Life Sciences have chosen to collaborate with the University of Nottingham.  I'm excited to be involved in this research, which has real potential to improve patient health.”

About Awakn Life Sciences Corp.

Awakn Life Sciences Corp. is a clinical-stage biotechnology company developing therapeutics targeting substance use and mental health disorders. Awakn has a near-term focus on AUD, a condition affecting approximately 29 million adults in the US and approximately 40 million in the US and key European markets for which the current standard of care is inadequate. Our goal is to provide breakthrough therapeutics to addiction sufferers in desperate need and our strategy is focused on commercialising our R&D pipeline across multiple channels.

www.awaknlifesciences.com | LinkedIn | X (formerly Twitter) 

About the University of Nottingham

Ranked 32 in Europe and 16th in the UK by the QS World University Rankings: Europe 2024, the University of Nottingham is a founding member of Russell Group of research-intensive universities. Studying at the University of Nottingham is a life-changing experience, and we pride ourselves on unlocking the potential of our students. We have a pioneering spirit, expressed in the vision of our founder Sir Jesse Boot, which has seen us lead the way in establishing campuses in China and Malaysia - part of a globally connected network of education, research and industrial engagement. 

Nottingham was crowned Sports University of the Year by The Times and Sunday Times Good University Guide 2024 – the third time is has been given the honour since 2018 – and by the Daily Mail University Guide 2024. 

The University is among the best universities in the UK for the strength of our research, positioned seventh for research power in the UK according to REF 2021. The birthplace of discoveries such as MRI and ibuprofen, our innovations transform lives and tackle global problems such as sustainable food supplies, ending modern slavery, developing greener transport, and reducing reliance on fossil fuels. 

The University is a major employer and industry partner - locally and globally - and our graduates are the second most targeted by the UK's top employers, according to The Graduate Market in 2022 report by High Fliers Research.

We lead the Universities for Nottingham initiative, in partnership with Nottingham Trent University, a pioneering collaboration between the city’s two world-class institutions to improve levels of prosperity, opportunity, sustainability, health and wellbeing for residents in the city and region we are proud to call home.

Notice Regarding Forward-Looking Information

This news release contains certain forward-looking information and forward-looking statements, as defined in applicable securities laws (collectively referred to herein as “forward-looking statements”). Forward-looking statements reflect current expectations or beliefs regarding future events or the Company’s future performance. All statements other than statements of historical fact are forward-looking statements. Often, but not always, forward-looking statements can be identified by the use of words such as “plans”, “expects”, “is expected”, “budget”, “scheduled”, “estimates”, “continues”, “forecasts”, “projects”, “predicts”, “intends”, “anticipates”, “targets” or “believes”, or variations of, or the negatives of, such words and phrases or state that certain actions, events or results "may", "could", ”would”, “should”, “might” or “will” be taken, occur or be achieved, including statements relating the business of the Company. All forward-looking statements, including those herein are qualified by this cautionary statement.

Although the Company believes that the expectations expressed in such statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the statements. There are certain factors that could cause actual results to differ materially from those in the forward-looking information. These include, but are not limited to: fluctuations in general macroeconomic conditions; the business plans and strategies of the Company; the ability of the Company to comply with all applicable governmental regulations in a highly regulated business; the inherent risks in investing in target companies or projects which have limited or no operating history and are engaged in activities currently considered illegal in some jurisdictions; changes in laws; limited operating history; reliance on management; requirements for additional financing; competition; fluctuations in securities markets; inconsistent public opinion and perception regarding the medical-use of psychedelic drugs; expectations regarding the size of the addiction market; and regulatory or political change. Readers are cautioned that the foregoing list of factors is not exhaustive of the factors that may affect forward-looking statements. Accordingly, readers should not place undue reliance on forward-looking statements. The forward-looking statements in this news release speak only as of the date of this news release or as of the date or dates specified in such statements.

Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking information. For more information on the Company, investors are encouraged to review the Company’s public filings on SEDAR at www.sedar.com. The Company disclaims any intention or obligation to update or revise any forward- looking information, whether as a result of new information, future events or otherwise, other than as required by law.

Investor Enquiries:

Anthony Tennyson, CEO, Awakn Life Sciences

anthony.tennyson@awaknlifesciences.com

416-270-9566

Toronto, Canada – October, 04, 2024 – Awakn Life Sciences Corp. (CSE: AWKN, OTCQB: AWKNF, FSE: 954) (“Awakn” or the “Company”), a clinical-stage biotechnology company focused on developing therapeutics for substance use and mental health disorders, with a near-term focus on Alcohol Use Disorder (“AUD”), today announced the selection of Eurofins Discovery to conduct initial pharmacology testing for its co-lead aminoindane series as part of Awakn's New Chemical Entity (NCE) pre-clinical program.

Eurofins Discovery, an industry-leading provider of products and services for drug discovery research, will play a pivotal role in advancing Awakn’s pre-clinical research efforts. This testing phase marks a critical milestone in the Company’s mission to develop next-generation therapeutics, with the potential to revolutionize treatments for addiction and mental health conditions.

Awakn’s NCE program is being developed in partnership with Graft Polymer (UK) Plc (“Graft”), an innovative biotechnology company that specializes in co-developing therapeutics for mental health disorders. This collaboration, initially announced on July 18, 2024, focuses on developing a new class of therapeutics for the potential treatment of trauma-related mental health disorders, such as Post-Traumatic Stress Disorder (“PTSD”), which affects approximately 13 million adults in the U.S. and 20 million collectively in the US, UK and key European markets.

Today’s announcement follows Awakn’s recent program update from August 28, 2024, and reflects the continued progress and momentum of the NCE program. The initiation of pharmacology testing with Eurofins Discovery underscores Awakn’s commitment to advancing its therapeutic pipeline rapidly and efficiently.

Prof. David Nutt, Awakn’s Chief Research Officer, commented, “The selection of Eurofins Discovery for this crucial stage of pharmacology testing is a significant step forward in our pre-clinical program. We are confident that this collaboration will accelerate our path to delivering groundbreaking treatments for mental health and addiction disorders.”

Anthony Tennyson, CEO of Awakn, added, “Our partnership with Eurofins Discovery is a testament to the progress we’re making in developing innovative solutions for AUD and other mental health challenges. We are excited about the potential impact our NCE program could have for patients in need across North America and beyond.”

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About Awakn Life Sciences Corp.

Awakn Life Sciences Corp. is a clinical-stage biotechnology company developing therapeutics targeting substance use and mental health disorders. Awakn has a near-term focus on AUD, a condition affecting approximately 29 million adults in the US and approximately 40 million in the US and key European markets for which the current standard of care is inadequate. Our goal is to provide breakthrough therapeutics to addiction sufferers in desperate need and our strategy is focused on commercialising our R&D pipeline across multiple channels.

www.awaknlifesciences.com | LinkedIn | X (formerly Twitter) 

About Eurofins Discovery
Eurofins Discovery supports drug discovery research with over 23,000 products and services developed in 40+ years of industry leadership. Benefit from the strength of our solutions that revolutionize your drug discovery.

Notice Regarding Forward-Looking Information

This news release contains certain forward-looking information and forward-looking statements, as defined in applicable securities laws (collectively referred to herein as “forward-looking statements”). Forward-looking statements reflect current expectations or beliefs regarding future events or the Company’s future performance. All statements other than statements of historical fact are forward-looking statements. Often, but not always, forward-looking statements can be identified by the use of words such as “plans”, “expects”, “is expected”, “budget”, “scheduled”, “estimates”, “continues”, “forecasts”, “projects”, “predicts”, “intends”, “anticipates”, “targets” or “believes”, or variations of, or the negatives of, such words and phrases or state that certain actions, events or results "may", "could", ”would”, “should”, “might” or “will” be taken, occur or be achieved, including statements relating the business of the Company. All forward-looking statements, including those herein are qualified by this cautionary statement.

Although the Company believes that the expectations expressed in such statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the statements. There are certain factors that could cause actual results to differ materially from those in the forward-looking information. These include, but are not limited to: fluctuations in general macroeconomic conditions; the business plans and strategies of the Company; the ability of the Company to comply with all applicable governmental regulations in a highly regulated business; the inherent risks in investing in target companies or projects which have limited or no operating history and are engaged in activities currently considered illegal in some jurisdictions; changes in laws; limited operating history; reliance on management; requirements for additional financing; competition; fluctuations in securities markets; inconsistent public opinion and perception regarding the medical-use of psychedelic drugs; expectations regarding the size of the addiction market; and regulatory or political change. Readers are cautioned that the foregoing list of factors is not exhaustive of the factors that may affect forward-looking statements. Accordingly, readers should not place undue reliance on forward-looking statements. The forward-looking statements in this news release speak only as of the date of this news release or as of the date or dates specified in such statements.

Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking information. For more information on the Company, investors are encouraged to review the Company’s public filings on SEDAR at www.sedar.com. The Company disclaims any intention or obligation to update or revise any forward- looking information, whether as a result of new information, future events or otherwise, other than as required by law.

Investor Enquiries:

Anthony Tennyson, CEO, Awakn Life Sciences

anthony.tennyson@awaknlifesciences.com

416-270-9566