Dr. Ahmad Doroudian reports

BETTERLIFE PHARMA ANNOUNCES EXTENSION OF WARRANTS

Effective immediately, Betterlife Pharma Inc. has extended the expiry dates of certain outstanding share purchase warrants by a further one-year period.

Warrants, with original exercise price of 10 cents per unit, granted pursuant to conversions of convertible debentures, have been extended as follows:

• Expiry date of Aug. 31, 2026, for 350,000 warrants has been extended to Aug. 31, 2027;
• Expiry date of Sept. 27, 2026 for 7,743,342 warrants has been extended to Sept. 27, 2027;
• Expiry date of Oct. 1, 2026, for 4,090,904 warrants has been extended to Oct. 1, 2027;
• Expiry date of Oct. 29, 2026, for 416,712 warrants has been extended to Oct. 29, 2027.

In addition, 1.75 million warrants with an original exercise price of 13 cents per unit and expiry of July 1, 2026, granted pursuant to a private placement in July, 2024, have been extended to July 1, 2027.

The company will not issue new warrant certificates in connection with the forementioned amendment. Previously issued warrant certificates remain valid and enforceable until the amended expiry dates as noted above. Warrantholders may exercise their warrants by returning a completed subscription notice/form (included with the warrant certificate), the original warrant certificate and payment by bank draft (made payable to Betterlife Pharma Inc.) to the company at: Betterlife Pharma, 1275 West 6th Ave., Suite 300, Vancouver, B.C., V6H 1A6 (attention: Dr. Ahmad Doroudian). For warrant exercises that will be paid by wire transfer or any questions related to the warrants, please contact Info@BlifePharma.com.

Of the warrants with original expiry date of Sept. 27, 2026, being amended, 2,041,644 warrants are held by directors and an officer and therefore related parties of the company within the meaning of Multilateral Instrument 61-101, Protection of Minority Security Holders in Special Transactions. The amendment of the warrants held by the related parties constitutes a related party transaction for the purposes of MI 61-101. The company is relying on the exemptions from the formal valuation and minority shareholder approval requirements contained in sections 5.5(a) and 5.7(1)(a) of MI 61-101, respectively, as the fair market value of the warrants subject to the amendment insofar as it involves interested parties, do not exceed 25 per cent of the company's market capitalization, as determined in accordance with MI 61-101.

The company's board of directors reviewed and approved the warrant amendments. The related parties declared their interest in the transaction and abstained from voting on the resolution approving the amendment. The company did not file a material change report more than 21 days before the effective date of the amendment as the details of the transaction were not settled until shortly before closing and the company wished to complete the transaction on an expedited basis for sound business reasons.

About Betterlife Pharma Inc.

Betterlife Pharma is a biotechnology company developing compounds for the treatment of neurological and neuro-psychiatric disorders. Its lead candidate, BETR-001, is a non-hallucinogenic LSD-derivative (lysergic acid diethylamide) molecule in preclinical development.

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