Mr. Neil Maresky reports

PSYENCE GROUP ANNOUNCES THE COMMENCEMENT OF ONLINE SALES AND DISTRIBUTION OF "GOODMIND" PRODUCTS

Psyence Group Inc. has commenced on-line sales and distribution of its premium range of functional mushroom products, Goodmind. The Goodmind formulas harness the power of adaptogens -- non-toxic, non-psychoactive fungi, used for centuries in traditional medicine for their stress-relieving benefits. Goodmind is designed to nourish the mind and elevate everyday life by enhancing mental capacity and the body's ability to adapt to stress.

Psyence has partnered with Goodleaf, a leading wellness and lifestyle brand with a premium range of products infused with African botanicals. Goodleaf's products exist to enhance emotional well-being through inspiring acts of self-care, routine and habit that can enhance quality of life, every day. Goodleaf has demonstrated great competence in launching new consumer goods in an emerging industry. Psyence is experienced in product development, scientific research, procurement, manufacturing and logistics. Both companies intend to leverage their knowledge and experience in the nutraceutical and supplement industry to create class-leading products in the functional mushroom space.

Neil Maresky, chief executive officer of Psyence Group, said: "We are delighted that our first nutraceutical product, Goodmind, is now available for sale on-line in South Africa. This is an important milestone for Psyence as we look to grow our over-the-counter nutraceutical wellness collection. Goodleaf has a proven track record of successfully launching and distributing high-quality products, and we believe they are an excellent partner to successfully launch Goodmind in this growing market."

"Our experience in developing and launching new consumer products will be invaluable as we make headway in the functional mushroom space. There is no doubt that there is a growing demand for wellness products, and we are extremely excited to collaborate with Psyence as we launch Goodmind and bring a range of functional mushroom products to market," said Warren Schewitz, founder and chief executive officer of Goodleaf.

Goodmind will begin on-line sales starting Aug. 18, 2021.

About Psyence Group Inc.

Psyence, a public life science biotechnology company listed on the Canadian Securities Exchange, sets the global standard for natural psychedelics. Psyence leads the way in natural psilocybin and other psychedelics for the healing of psychological trauma and its mental health consequences in the context of palliative care. The company's name, Psyence, combines the words psychedelic and science to affirm the company's commitment to producing psychedelic medicines developed through evidence-based research.

Informed by nature and guided by science, the company built and operates one of the world's first federally licensed commercial psilocybin mushroom cultivation and production facilities. The company's team brings international experience in both business and science and includes experts in mycology, neurology and drug development. The company works to develop advanced psilocybin products and other psychedelic breakthroughs for research institutes, clinics, therapeutic immersions and destination experiences for clinical research. The company is also developing a nutraceutical mental wellness collection that supports improved focus, calm and sleep.

The company's four key divisions (Psyence Production, Psyence Therapeutics, Psyence Function and Psyence Experience) anchor an international footprint with operations in Canada, the United States, the United Kingdom, Jamaica, South Africa and Australia.

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