• Filament has completed a new extraction of IBEX011
• The Company expects Filament to begin stability testing on the new extract shortly

Toronto, Ontario--(Newsfile Corp. - November 2, 2026) - Rhelion Life Sciences Corp. (CSE: RHEL) (FSE: 4YX0) (OTCQB: TRUFF) ("Rhelion" or the "Company"), an Ontario-based organization advancing innovation and research within the legal psychedelic sector. Through its wholly owned subsidiary Filament Health Corp. ("Filament"), the Company develops, manufactures and supplies PEX010, its patented, standardized, GMP-manufactured botanical psilocybin drug candidate, to clinical research and compassionate access programs at leading institutions worldwide.

The Company is pleased to announce that Filament has completed a new extraction of IBEX011, its naturally derived ibogaine drug candidate. The Company has begun the next stages for stability testing on the new extract.

This follows the Company's September 10, 2026 announcement that Filament had begun planning a stability program for IBEX011. Stability testing is intended to support a shelf life and specification for IBEX011 and its potential future supply to regulated clinical research. IBEX011 is a total alkaloid iboga extract produced using Filament's proprietary extraction, purification and stabilization methods, the same platform used to produce PEX010.

These developments come amid increasing U.S. federal support for psychedelic research. An April 2026 executive order specifically identified ibogaine compounds as investigational therapies of interest and directed federal agencies to accelerate psychedelic research and facilitate access pathways for eligible patients. In October 2026, the FDA further advanced these efforts by seeking public input on the design and safety considerations of early-phase ibogaine clinical trials.

Ibogaine is a Schedule I controlled substance in the United States and is not approved by the U.S. Food and Drug Administration, Health Canada or any other regulatory authority for any indication. IBEX011 is an investigational drug candidate and has not been authorized for use in any clinical trial.

PEX010, Filament's botanical psilocybin drug candidate, underscores Filament's position as a leading supplier of pharmaceutical grade natural psilocybin, supporting more than 80 academic and philanthropic research studies worldwide. PEX010 is available in a standardized dosing range of 1, 5 and 25 mg from a single drug candidate, with a 0.5 mg dose to follow, produced using Filament's proprietary and patented extraction, purification and stabilization methods, giving investigators consistent composition across every dose, every study and every research site. On April 30, 2026, the Company completed its previously announced acquisition of Filament, including its lead drug candidate, PEX010, and its portfolio of 78 issued patents across 13 patent families.

The Company also announces that, effective October 26, 2026, it completed its previously announced settlement of $100,000 of indebtedness owed to an arm's length creditor (the "Creditor") in connection with a prior obligation of Filament, through the issuance of 3,333,333 common shares of the Company (the "Settlement Shares") to the Creditor at a deemed price of $0.03 per Settlement Share.

The Settlement Shares are subject to a statutory hold period of four months and one day from the date of issuance.

About Rhelion:

Rhelion is a science and research led company advancing the natural psychedelic drug discovery and development sector. Through its wholly owned subsidiary Filament, the Company is developing naturally derived psilocybin drug candidates, including its patented PEX010, and supporting clinical research and compassionate use programs with leading institutions around the world.

Cautionary Statement Regarding Forward-Looking Statements

This press release contains forward-looking information within the meaning of applicable Canadian securities laws. Forward-looking information is generally, but not always, identified by words such as "expects", "intends", "plans", "anticipates", "believes", "may", "could", "would", "will" and similar expressions. Forward-looking information in this press release includes statements regarding: the expected initiation, timing, scope and completion of stability testing on the new IBEX011 extract; the potential use of stability-testing results to support a shelf life and specification for IBEX011; the potential future supply of IBEX011 for regulated clinical research; the continued development of IBEX011 and PEX010; and the anticipated future availability of a 0.5 mg dose of PEX010.

Forward-looking information is based on management's current expectations and assumptions, including that the new IBEX011 extract will be suitable for stability testing; that Filament will have sufficient personnel, capital, materials and other resources to initiate and complete the proposed testing; that Filament will continue to be able to source compliant raw material and manufacture IBEX011; and that all required regulatory, ethics, import, export and other permits and authorizations will be obtained and maintained. Forward-looking information is subject to risks and uncertainties that may cause actual results to differ materially, including the risk that stability testing is delayed, not completed or does not support the intended shelf life, specification or potential research use of IBEX011; known safety risks associated with ibogaine; changes in applicable laws or regulatory requirements; delays or failures in obtaining or maintaining required permits or authorizations; manufacturing or supply interruptions; insufficient financing or other resources; and the risk that the 0.5 mg dose of PEX010 does not become available as anticipated.

Although the Company believes that the expectations and assumptions reflected in the forward-looking information are reasonable, no assurance can be given that they will prove to be correct. Readers should not place undue reliance on forward-looking information. The forward-looking information in this press release is made as of the date hereof, and the Company undertakes no obligation to update or revise it except as required by applicable securities laws.

Neither the Canadian Securities Exchange nor its Regulation Services Provider have reviewed or accept responsibility for the adequacy or accuracy of this release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/322020

Source: Rhelion Life Sciences Corp.