The Newly Institute Announces Hiring of Chief Operating Officer, Chief Strategy Officer, and Announces Leadership Team

Calgary, Alberta--(Newsfile Corp. - April 15, 2021) - Aspen Island Therapeutics Inc. DBA The Newly Institute ("The Newly Institute" or the "Company") announces the executive team to lead its roll-out strategy of psychedelic assisted psychotherapy clinics across Canada.

Executive Team

The Newly Institute has assembled a world class team with the credentials and the track record to position itself as the institutional leader in revolutionizing mental health care delivery:

• Arthur H. Kwan, MBA, CFA, ICD.D - President and Chief Executive Officer

• Robert L. Tanguay, MD, FRCPC, CCSAM, CISAM - Vice President, Medical and Chief Medical Officer

• Colonel (Retired) Richard F. Pucci, OMM, CD, BSc, MDS - Vice President, Operations and Chief Operating Officer

• Marshall J. Ross, MD, FRCPC - Vice President, Science and Chief Scientific Officer

• Colonel (Retired) Rakesh Jetly, OMM, CD, MD, FRCPC - Vice President, Strategy and Chief Strategy Officer

• Nadine Weller, CA, CPA, FEA - Vice President, Finance and Chief Financial Officer

• Marney Riendeau, BScN, RN - Vice President, Clinical Operations

• David Wood, PhD, LLB - Senior Advisor, Regulatory and Intellectual Property

• Michael J. Saliken, BComm, LLB - Corporate Secretary

Executive Biographies

Arthur H. Kwan, MBA, CFA, ICD.D - President and Chief Executive Officer

Arthur brings over 20 years of investment banking, capital markets, and leadership experience. He began his investment career in 1997 with TD Asset Management and has held increasingly senior investment banking positions with Scotia Capital, PI Financial, and Paradigm Capital, where he was Managing Director, Investment Banking. Arthur was the Founder, President & CEO of CannaIncome Fund, whose management contract was acquired by Balancing Rock in 2021. He was also the Co-Founder, President & CEO of Seven Leaf Ventures, which was acquired by Stem Holdings in 2020, and Vice President and Equity Partner of Westwind Partners, which was acquired by Thomas Weisel Partners Group in 2008.

Robert L. Tanguay, MD, FRCPC, CCSAM, CISAM - Vice President, Medical and Chief Medical Officer

Dr. Tanguay is one of a few Psychiatrists who has completed two fellowships: one in Addiction Medicine and one in Pain Medicine. He is a clinical assistant professor with the departments of Psychiatry and Surgery at the Cumming School of Medicine, University of Calgary. Dr. Tanguay was the Medical Lead for Addiction Education for Alberta Health Services (AHS) where he helped develop award winning educational programs. He is the Regional Director for Alberta and North West Territories for the Canadian Society of Addiction Medicine (CSAM) where he sits as a board member, the President of the Pain Society of Alberta, and the co-chair of the internationally recognized Alberta Pain Strategy. He is the founder of innovative programs including the Opioid Deprescribing Program, the Rapid Access Addiction Medicine (RAAM) Community Clinic, and the Transitional Outpatient Pain Program for Spine (TOPPS). He also consults with the Carewest Operational Stress Injury Clinic treating veterans and RCMP for trauma psychological injuries. He is the University of Calgary representative for the Association of Faculties of Medicine of Canada response to the opioid crisis, working on the development of curricula for medical trainees. Academically, he is involved in research in trauma, addiction, chronic pain, opioids, cannabis and psychedelics and is a member of the Hotchkiss Brain Institute and the Mathison Centre for Mental Health Research and Education at the University of Calgary.

Colonel (Retired) Richard F. Pucci, OMM, CD, BSc, MDS - Vice President, Operations and Chief Operating Officer

Colonel (Retired) Pucci, OMM, CD, BSc, MDS, served as the Deputy Commander of the Canadian Forces Health Services, during which time he oversaw a team of approximately 6,400 active members and 500 contractors. During his tenure he was responsible for over watching via the chain of command 43 units and 82 detachments, including clinics, mobile medical units, field hospital, schools, research establishment and a medical equipment depot. He also held the position of Chief of Staff of the Health Services Group, with the overall responsibility for a financial and business planning cycle of $462 million, and an infrastructure budget of $600 million. Colonel (Retired) Pucci was invested into the Order of Military Merit in 2011.

Marshall J. Ross, MD, FRCPC - Vice President, Science and Chief Scientific Officer

Dr. Ross is an FRCPC Emergency Medicine physician, co-founder of ResolvMD, clinical lecturer at the University of Calgary, and a transport physician with STARS air ambulance. He created a new protocol that formed the basis of a province-wide program to treat opiate addiction in the emergency department and has guided treatment for over 3,000 Albertans. Dr Ross is an award-winning clinician, medical researcher, and a published author on a range of topics including the efficacy of sub-dissociative dose ketamine. In addition, he received a Top 40 Under 40 2019 award by Avenue Magazine Calgary.

Colonel (Retired) Rakesh Jetly, OMM, CD, MD, FRCPC - Vice President, Strategy and Chief Strategy Officer

Colonel (Retired) has recently retired from the Canadian Armed Forces after 31 years of service. During his career he occupied various positions culminating in Chief of Psychiatry, which involved being the national practice leader of over 400 mental health professionals as well as the Mental Health Advisor to the Canadian Forces' Surgeon General. Dr. Jetly has been a driver behind the innovation and enhancements within the military mental health system in Canada as well as playing a significant role within the NATO research community. He was additionally appointed "The Canadian Forces Brigadier Jonathan C. Meakins, CBE, RCAMC Chair in Military Mental Health". He has published numerous articles in professional journals and has presented nationally and internationally on such topics as PTSD and operational psychiatry.

Nadine Weller, CA, CPA, FEA - Vice President, Finance and Chief Financial Officer

Nadine has been working in accounting since 2007 and currently holds her CPA and FEA designations. She was formerly with MNP and has over 14 years of accounting, auditing, and taxation experience. Nadine also volunteers in the community, acting as a Treasurer for two private schools and working with the CPA volunteer tax program.

Marney Riendeau, BScN, RN - Vice President, Clinical Operations

Marney has over 30 years of clinical, nursing, and management experience. She was the Program Manager for the Operational Stress Injury ("OSI") Clinic, operated by Carewest Innovative Health Care. She built the Calgary OSI clinic from 8 to 40 employees to be one of the largest in the country. She has been invited to speak nationally and internationally about the innovation that she brought to the clinic. Previously, she was the Program Manager for the suburban mental health clinics operated by Capital Health, where she provided community based services in mental health.

David Wood, PhD, LLB - Senior Advisor, Regulatory and Intellectual Property

Psychedelics, entheogens, entactogens and dissociative anaesthetics, and cannabis are the sole focus of Dr. Wood's intellectual property, regulatory and commercial practice at Borden Ladner Gervais LLP ("BLG"), Canada's largest law firm. Dr. Wood holds a PhD in biochemistry where his graduate-level education in structural biochemistry, synthetic organic chemistry, physical chemistry, plant biochemistry and natural products chemistry provides a strong technical background for advising clients working with psychedelics and clients working in Canada's cannabis industry in relation to both intellectual property and regulatory law. He is co-chair of BLG's National Psychedelics and Cannabis Focus Group.

Michael J. Saliken, BComm, LLB - Corporate Secretary

Michael is a Partner at Borden Ladner Gervais LLP, Canada's largest law firm, and represents public and private issuers and financers in public and private debt and equity financings, mergers and acquisitions, and corporate governance matters. Michael is a member of the steering committee of BLG's Psychedelics and Cannabis focus group. Michael is a board member and committee chair for various companies and has worked in BLG's securities and capital markets group for 12 years.

Over the next several weeks, The Newly Institute will unveil its best-in-class board of advisors in the medical, psychiatric, and veteran sectors.

About The Newly Institute

The Newly Institute believes that mental health treatment is in drastic need of a paradigm shift, and our practice was founded to provide long-lasting change within this industry, our community, and with our clients. By fusing a bio-psycho-social-spiritual treatment model with psychedelic-assisted therapies, patients can overcome deeply embedded traumas that prevent them from living fully in their everyday lives. Our programs are based on evidence and data, but our approach is personal because we know it is vital that people feel safe to be vulnerable during this process.

With locations opening in Calgary, AB and Fredericton, NB, as well as several more Canadian cities, The Newly Institute's goal is to become Canada's largest and premier operator of psychedelic assisted psychotherapy clinics.

Forward Looking Statements

This news release contains forward-looking statements within the meaning of applicable securities laws. All statements that are not historical facts, including without limitation, statements regarding the opening of psychotherapy clinics in Canada, are "forward-looking statements." Forward-looking statements can be identified by the use of words such as "plans", "expects" or "does not expect", "is expected", "estimates", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results, events or developments to be materially different from any future results, events or developments expressed or implied by such forward looking statements. Such risks and uncertainties include, among others, timing to complete renovations, hire staff and open psychotherapy clinics in Canada; the Company's limited operating history and lack of historical profits; reliance on management; the Company's requirements for additional financing, and the effect of capital market conditions and other factors on capital availability, including closing of future financings. These factors should be considered carefully, and readers are cautioned not to place undue reliance on such forward-looking statements. Although the Company has attempted to identify important risk factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other risk factors that cause actions, events or results to differ from those anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in forward-looking statements. The Company has no obligation to update any forward-looking statement, even if new information becomes available as a result of future events, new information or for any other reason except as required by law.

SOURCE: The Newly Institute

For further information: Investor, Media, and General Inquiries: ir@thenewly.ca

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www.thenewly.ca

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