Mr. Philip Young reports

LOBE SCIENCES CONGRATULATES AUSTRALIA FOR BECOMING THE FIRST NATION TO APPROVE THE MEDICINAL USE OF PSILOCYBIN AND MDMA

Lobe Sciences Ltd. has congratulated the people of Australia for the decision by the TGA (Therapeutic Goods Administration) to reschedule psilocybin and MDMA (3,4-methylenedioxy-N-methamphetamine) so that trained physicians may prescribe the psychedelics for patients across the country.

Philip J. Young, chairman and chief executive officer of the company, stated: "This is such an important step by a national government recognizing the value of these compounds in treating certain mental health conditions. As we prepare for a phase 2 study in Australia in conjunction with iNGENu CRO in chronic cluster headaches, it's heartening to know that there is already significant support for psychedelic compounds such as L-130, our proprietary psilocin product."

The Australian TGA commented on their website, "There is a need for access to new therapies for treatment-resistant conditions such as treatment-resistant depression and posttraumatic stress disorder."

About Lobe Sciences Ltd.

Lobe Sciences is a life sciences company focused on developing patient-friendly, practical psychedelic medicines. The company, through collaborations with industry-leading partners, is engaged in drug research and development using subhallucinatory doses of psychedelic compounds and the development of innovative devices and delivery mechanisms to improve mental health and wellness.

We seek Safe Harbor.