Dr. Ahmad Doroudian reports

BETTERLIFE ANNOUNCES CLOSING OF PRIVATE PLACEMENT

Betterlife Pharma Inc. has closed a non-brokered private placement, previously announced on April 8, 2026, pursuant to which the company issued 7,137,143 units at a price of seven cents per unit for aggregate gross proceeds of $499,600. Each unit comprises one common share and one full warrant. Each warrant entitles the holder thereof to acquire one common share at an exercise price of 10 cents at any time up to 24 months from the closing of the offering. The units sold pursuant to the offering will be subject to a four-month hold period pursuant to applicable Canadian securities laws.

Dr. Ahmad Doroudian, chief executive officer of the company, subscribed for a total of 1.25 million units under the offering. The participation of Dr. Doroudian in the private placement constituted a related party transaction as defined under Multilateral Instrument 61-101. The issuance to the insider was exempt from the formal valuation requirements of MI 61-101 by virtue of the exemption contained in Section 5.5(b) as none of the securities of the company are listed on a specified stock exchange. The transaction is exempt from the minority shareholder approval requirements of MI 61-101 by virtue of exemption contained in Section 5.7(a) of MI 61-101. At the time the transaction was agreed to, neither the fair market value of nor the fair market value of the consideration for the transaction, insofar as it involves interested parties, exceeded 25 per cent of the company's market capitalization. The company did not file a material change report at least 21 days prior to the expected closing of the offering as Dr. Doroudian's participation was not determined at that time.

About Betterlife Pharma Inc.

Betterlife Pharma is an emerging biotechnology company primarily focused on developing and commercializing BETR-001 to treat various neurological disorders. BETR-001, which is in preclinical and IND-enabling (investigational new drug) studies, is a non-hallucinogenic and non-controlled LSD (lysergic acid diethylamide) derivative in development and it is unique in that it is unregulated and therefore can be self-administered. Betterlife's synthesis patent for BETR-001 eliminates regulatory hurdles and its pending patent, for composition and method of use, covers treatment of various neurological disorders, until around 2042.

Betterlife also owns a drug candidate for the treatment of viral infections and is in the process of seeking strategic alternatives for further development.

We seek Safe Harbor.