Mr. Todd Shapiro reports

RHELION LIFE SCIENCES' WHOLLY OWNED SUBSIDIARY FILAMENT HEALTH COMPLETES NEW EXTRACTION OF IBEX011, ITS NATURALLY DERIVED IBOGAINE DRUG CANDIDATE, AND COMMENCES STABILITY TESTING

Rhelion Life Sciences Corp.'s wholly owned subsidiary Filament Health Corp. has completed a new extraction of IBEX011, its naturally derived ibogaine drug candidate. The company has begun the next stages for stability testing on the new extract.

This follows the company's Sept. 10, 2026, announcement that Filament had begun planning a stability program for IBEX011. Stability testing is intended to support a shelf life and specification for IBEX011 and its potential future supply to regulated clinical research. IBEX011 is a total alkaloid iboga extract produced using Filament's proprietary extraction, purification and stabilization methods, the same platform used to produce PEX010.

These developments come amid increasing U.S. federal support for psychedelic research. An April, 2026, executive order specifically identified ibogaine compounds as investigational therapies of interest and directed federal agencies to accelerate psychedelic research and facilitate access pathways for eligible patients. In October, 2026, the U.S. Food and Drug Administration further advanced these efforts by seeking public input on the design and safety considerations of early-phase ibogaine clinical trials.

Ibogaine is a Schedule I controlled substance in the United States and is not approved by the FDA, Health Canada or any other regulatory authority for any indication. IBEX011 is an investigational drug candidate and has not been authorized for use in any clinical trial.

PEX010, Filament's botanical psilocybin drug candidate, underscores Filament's position as a leading supplier of pharmaceutical grade natural psilocybin, supporting more than 80 academic and philanthropic research studies worldwide. PEX010 is available in a standardized dosing range of one, five and 25 milligrams from a single drug candidate, with a 0.5 mg dose to follow, produced using Filament's proprietary and patented extraction, purification and stabilization methods, giving investigators consistent composition across every dose, every study and every research site. On April 30, 2026, the company completed its previously announced acquisition of Filament, including its lead drug candidate, PEX010, and its portfolio of 78 issued patents across 13 patent families.

The company also announces that, effective Oct. 26, 2026, it completed its previously announced settlement of $100,000 of indebtedness owed to an arm's-length creditor in connection with a prior obligation of Filament, through the issuance of 3,333,333 common shares of the company to the creditor at a deemed price of three cents per settlement share.

The settlement shares are subject to a statutory hold period of four months and one day from the date of issuance.

About Rhelion Life Sciences Corp.

Rhelion is a science and research led company advancing the natural psychedelic drug discovery and development sector. Through its wholly owned subsidiary Filament, the company is developing naturally derived psilocybin drug candidates, including its patented PEX010, and supporting clinical research and compassionate use programs with leading institutions around the world.

We seek Safe Harbor.