Mr. Mariusz Olejniczak reports

WPD PHARMACEUTICALS ANNOUNCES CLOSING OF CONVERTIBLE DEBENTURE PRIVATE PLACEMENT

WPD Pharmaceuticals Inc. has closed its previously announced private placement of unsecured convertible debentures pursuant to which the company raised an aggregate principal amount of $300,000.

Each Debenture is convertible into units of the Company (each, a "Unit") at a conversion price of $0.05 per Unit. Each Unit will consist of one common share and one share purchase warrant exercisable to purchase one additional common share at a price of $0.05 for three years from the date of issuance of the Unit. The Debentures bear interest at the rate of 18% per annum compounded monthly until maturity and after default. The Debentures will mature on June 2, 2026.

The proceeds of the Private Placement will be used to complete and file the Company's outstanding audited and interim financial statements and other continous disclosure documents (the "Continuous Disclosure Documents"), to pay legal fees, filing fees and certain accounts payable, and for general working capital. Once the Continuous Disclosure Documents have been completed and filed, the Company expects to apply for a full revocation of the cease trade order issued against the Company by the BC Securities Commission on July 22, 2022.

There were no finder's fees paid in connection with the Private Placement. All securities issued in the Private Placement will be subject to a four-month hold period commencing on the closing date of the Private Placement.

Additional details regarding the Private Placement, and the securities issuable pursuant to the Private Placement, are included in the Company's news release dated May 1, 2023 available on the Company's SEDAR profile at www.sedar.ca.

During May 2023, the Issuer's subsidiary in Poland was advanced a loan of US$195,000 which bears interest of 10% and matures on December 31, 2023. The loan is secured by the license granted by CNS Pharmaceuticals, Inc. to the Issuer's Polish subsidiary.

The Company announces the submission by WPD Poland for a new application for co- financing of a research and development project focused on developing treatment for glioblastoma.

The Company also announces the departure of Mike Malana as Chief Financial Officer.

We seek Safe Harbor.