Lobe Sciences Ltd. and Clearway Global LLC Enter into a Development Agreement to Manage Lobe Sciences Ltd.'s Global Regulatory and Development Strategy and its Implementation

Vancouver, British Columbia--(Newsfile Corp. - June 21, 2022) - Lobe Sciences Ltd. (CSE: LOBE) (OTCQB: LOBED) ("Lobe" or the "Company"), a Canadian Biopsychedelics company committed to discovering and developing psychedelic inspired medicines for the improvement of neurologic, brain and mental health disorders, today announced an exclusive agreement with Clearway Global LLC ("Clearway").

Philip Young, CEO of Lobe stated, "We are pleased to have the opportunity to team up with the Clearway network and in particular with Dr. Fred Sancilio, a global expert in drug development and strategic planning. Dr. Sancilio brings over 40 years of pharmaceutical experience to our program and has a track record of success that is unmatched".

Dr. Fred D. Sancilio, Founder and CEO of Clearway commented "We are excited to be part of this evolving new area of pharmaceutical research that is demonstrating incredible potential to treat brain disorders that were previously believed to be untreatable. Biopsychedelics, such as those being developed at Lobe, present entirely new mechanisms of action that may change the way we treat post-traumatic stress disorder (PTSD) and other neurologic diseases. Mental illness is a wide-open field of research, and I am optimistic that Lobe is on the right path toward helping patients who suffer from these diseases".

In recent preclinical studies, treatment with Lobe's unique platform technology combining N-acetyl cysteine (NAC) with the bio psychedelic psilocybin, showed statistically significant positive results in a model of PTSD when compared to either moiety alone. In association with Clearway the Company plans to develop proprietary new chemical entities (NCEs) that improve upon naturally derived psychedelic molecules which can be unstable as pharmaceutical drugs. These NCEs are being studied as potentially low dose therapeutics without the psychedelic effect to allow patients to be treated at home or by their family physician.

About Lobe Sciences Ltd.

Lobe Sciences is a life sciences company focused on psychedelic medicines. The Company, through collaborations with industry-leading partners, is engaged in drug research and development using psychedelic compounds and the development of innovative devices and delivery mechanisms to improve mental health and wellness.

About Clearway Global LLC

Clearway Global, LLC, a wholly owned subsidiary of Sancilio & Company, provides early and mid-stage biopharmaceutical companies a world class network of development partners including international experts in regulatory affairs, business development, pre-clinical & clinical development, formulations, analytical chemistry, manufacturing, and controls. Clearway's founder, Dr. Fred Sancilio, MS, PHD is a recognized leader in drug development, analytical chemistry, corporate strategy and regulatory affairs. He is a serial entrepreneur and has contributed to dozens of successful start-ups that are now industry leaders.

For further information please contact:

Lobe Sciences Ltd.
Philip J Young, CEO
info@lobesciences.com
Tel: (949) 505-5623

NEITHER THE CSE NOR ITS REGULATION SERVICES PROVIDER HAVE REVIEWED OR ACCEPT RESPONSIBILITY FOR THE ACCURACY OR ADEQUACY OF THIS RELEASE.

This does not constitute an offer to sell or a solicitation of offers to buy any securities.

Disclaimer for Forward Looking Statements

This news release contains forward-looking statements relating to the future operations of the Company and other statements that are not historical facts. Forward-looking statements are often identified by terms such as "will", "may", "should", "anticipate", "expects" and similar expressions. All statements other than statements of historical fact included in this release, including statements regarding the future plans and objectives of the Company, research and development using psychedelic compounds, and the development of innovative devices and delivery mechanisms to improve mental health and wellness, are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Readers are cautioned that assumptions used in the preparation of the forward-looking statements may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company, including changes to the regulatory environment;, that the Company's drug research and development activities may be unsuccessful; that drugs and medical devices produced by, or on behalf of, the Company, may not work in the manner intended or at all, and may subject the Company to product liability or other liability claims; that the Company may not be able to attain the Company's corporate goals and objectives; and other risk factors detailed in the Company's continuous disclosure filings from time to time, as available under the Company's profile at www.sedar.com. As a result, the Company cannot guarantee that any forward-looking statement will materialize and the reader is cautioned not to place undue reliance on any forward-looking information. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made only as of the date of this news release and the Company does not intend to update any of the included forward-looking statements except as expressly required by applicable Canadian securities laws.

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