NeonMind Announces Creation of Medical Clinics Advisory Board to Guide Planning and Operation of Company-Branded Clinics Across Canada

Vancouver, British Columbia--(Newsfile Corp. - May 26, 2021) - NeonMind Biosciences Inc. (CSE: NEON) (OTC Pink: NMDBF) (FSE: 6UF) ("NeonMind"), an integrated drug development and wellness company focused on the potential therapeutic uses of psilocybin for treating obesity and weight management conditions, is pleased to announce the formation of a Medical Clinic Advisory Board to guide the planning and operation of NeonMind branded clinics across Canada. Members of the advisory board will be comprised of experts on provincial and local health care access and advocacy, ketamine treatment and psychotherapy protocols, and clinical operations, strategy, and growth.

NeonMind Announces Creation of Medical Clinics Advisory Board

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"The formation of our Medical Clinic Advisory Board is a critical next step in the creation of our clinics and treatment models. By incorporating a team of experts specializing in mental healthcare, interventional psychiatric treatment, psychedelics, and clinical deployment, operations, and advocacy, we are achieving the next step in our strategic plan to increase treatment access in local markets across Canada," said Robert Tessarolo, President & CEO of NeonMind.

Currently, ketamine and esketamine may legally be prescribed and administered in Canadian medical clinics, however there is a need for these clinics and treatments to be tailored to community and local health needs. As psychedelic drug development and treatment programs evolve to include additional psychedelic-enhanced therapies with substances like psilocybin, NeonMind will be positioned to have the infrastructure in place to safely and effectively administer these treatments.

"Our Medical Clinic Advisory Board will ensure that NeonMind is able to develop protocols and treatment programs at the cutting edge of mental health research and ensure that we are prioritizing value, access and advocacy for those who need them," added Rob Tessarolo.

About NeonMind Biosciences Inc.

NeonMind is engaged in preclinical research to develop potential clinical treatments and wellness products to address obesity and weight management conditions and to promote health and wellness. The Company operates three divisions: (i) a pharmaceutical division engaged in drug development of psychedelic compounds with two lead psilocybin-based drug candidates targeting obesity; (ii) a medical services division focused on launching specialty mental health clinics that integrate psychedelic therapeutics into traditional psychotherapy settings; and (iii) a consumer products division that currently sells mushroom-infused products to promote health and wellness.

In its pharmaceutical division, NeonMind has two distinct psilocybin drug development programs targeting obesity. In its pharmaceutical division, NeonMind has two distinct psilocybin drug development programs targeting obesity. NeonMind's first drug candidate employs psilocybin as an agonist to the serotonin receptor 5- HT2A, which is involved in the hallucinogenic effect of psychedelics. The Company's second drug candidate employs low-dose psilocybin as an agonist to the 5-HT2C receptor, which controls appetite.

NeonMind established a medical services division with the goal of launching NeonMind-branded specialty mental health clinics in Canada that incorporate evidence-backed innovative treatments to address a variety of mental health needs.

NeonMind's consumer division currently sells NeonMind branded coffee products in Canada through NeonMind's direct to consumer e-commerce platform, and it has plans to launch dietary supplements in the United States in the near future.

For more information on NeonMind, go to www.NeonMindBiosciences.com.

Rob Tessarolo, President & Chief Executive Officer, NeonMind Biosciences Inc.
rob@neonmind.com
Tel: 416-750-3101

Investor Relations:
Edge Communications
invest@neonmind.com
Tel: 1-866-318-6874

KCSA Strategic Communications
Scott Eckstein/Tim Regan
neonmind@kcsa.com
Tel: 212-896-1210

Renmark Financial Communications Inc.
Melanie Barbeau
mbarbeau@renmarkfinancial.com
Tel: 416-644-2020 or 212-812-7680

Media Inquiries:
KCSA Strategic Communications
Annie Graf
agraf@kcsa.com
Tel: 786-390-2644

The Canadian Securities Exchange has not reviewed, approved nor disapproved the contents of this news release.

Cautionary Statement Regarding Forward-Looking Statements

Certain statements contained in this press release constitute forward-looking information. These statements relate to future events or NeonMind's future performance. The use of any of the words "could", "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 NeonMind's current belief or assumptions as to the outcome and timing of such future events. Actual future results may differ materially. In particular, NeonMind's drug development plans, its ability to retain key personnel, and its expectation as to the development of its intellectual property and other steps in its preclinical and clinical drug development constitute forward-looking information. Actual results and developments may differ materially from those contemplated by forward-looking information. Readers are cautioned not to place undue reliance on forward-looking information. The statements made in this press release are made as of the date hereof. NeonMind disclaims any intention or obligation to publicly update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as may be expressly required by applicable securities laws.

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