Neural Therapeutics Announces RSU and Options Grant

Toronto, Ontario--(Newsfile Corp. - May 13, 2025) - Neural Therapeutics Inc. (CSE: NURL) (FSE: HANF) ("Neural" or the "Company"), an ethnobotanical drug discovery company focused on developing therapeutic drugs for mental illnesses related to substance use disorders, announces that the Board of Directors approved the grant of 2,720,000 restricted share units ("RSUs") and 725,000 stock options ("Options").

RSUs were granted to directors and consultants of Neural in accordance with the provisions of the RSU Plan that is available on the Company's SEDAR+ profile. All of 2,720,000 RSUs vest immediately and expire on December 31, 2028. 367,000 RSUs may be exercised into common shares of Neural after September 30, 2025 and the balance 2,353,000 RSUs may be exercised immediately upon grant. Each RSU is exercisable into one (1) common share in the capital of Neural ("Neural Shares").

Options were granted to certain officers of Neural, consultants and members of Neural's Scientific Impact and Advisory Board in accordance with the provisions of Neural's Stock Option Plan that is available on the Company's SEDAR+ profile. All of 725,000 Options vest immediately and are exercisable into Neural Shares at a price of $0.05 per Neural Share until May 13, 2028.

The foregoing grants are subject to the approval of the Canadian Securities Exchange.

About Neural Therapeutics

Neural Therapeutics is a leader in ethnobotanical drug discovery, focusing on the development of therapeutic drugs for mental illnesses related to substance use disorders, including alcohol and opioid dependence. The Company's innovative approach to drug development involves the strategic use of sub-hallucinogenic doses of mescaline extract, enhancing safety and scalability while maintaining therapeutic efficacy.

CAUTIONARY DISCLAIMER STATEMENT

No securities regulatory authority has reviewed or accepted responsibility for the adequacy or accuracy of the content of this news release. This news release contains forward-looking statements ("FLS") relating to the outlook for psychedelic markets and related industries, the achievement, and the timing of, certain development milestones and the successful execution of Neural's business strategy, anticipated ability to secure the required intellectual property protection, and the future board and management team composition of Neural. FLS also include statements concerning anticipated financing, the timing and ability to secure necessary permits required to carry out is research and development activities, the anticipated entry into definitive agreement with CWE European Holding Inc. (dba Hanf.com), anticipated benefits of the transaction with CWE and completion of any related transactions, and statements related to the continued overall advancement of Neural's business and other statements that are not historical facts. FLS are often identified by terms such as "will", "may", "should", "anticipate", "expect", "plan" and similar expressions. These statements are not statements of historical fact, but rather predictions about future events, which are inherently subject to risks and uncertainties. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Key factors that could cause actual results to differ materially from the Company's expectations include the inability to raise sufficient funds to execute Neural's business plan; failure to satisfy the conditions imposed by relevant regulators, regulatory restrictions and approvals related to psychedelic-based drug research and development, unforeseen delays in securing intellectual property protections, changes in government regulations and policies impacting Neural's operations; and general economic, market, or industry conditions. Readers are cautioned that assumptions used in preparing any forward-looking information may prove to be incorrect. Future events or circumstances could cause actual results to differ materially from those projected due to numerous known and unknown risks, uncertainties, and other factors, many of which are beyond Neural's control. Reader should not place undue reliance on any forward-looking information. Although management considers such information to be reasonable at the time of preparation, may prove to be incorrect and actual outcomes may differ significantly. FLS contained in this news release are expressly qualified by this cautionary statement. The forward-looking information contained in this press release represents the expectations of the Company as of the date hereof and is subject to change. The Company expressly disclaims any intention or obligation to update or revise such statements. A description of additional risk factors that may cause actual results to differ materially from FLS in Neural's disclosure documents posted on www.sedarplus.ca.

The securities of Neural have not been registered under the U.S. Securities Act of 1933, as amended (the "U.S. Securities Act"), or applicable state securities laws. The securities may not be offered or sold to, or for the account or benefit of, persons in the United States or "U.S. Persons" (as defined in Regulation S under the U.S. Securities Act), unless registered or exempt from registration under the U.S. Securities Act and applicable state securities laws. This press release does not constitute an offer to sell or the solicitation of an offer to buy Neural's securities in the United States or any other jurisdiction where such an offer or sale would be unlawful.

Neither the CSE nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.

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