• Dr. Robin Carhart-Harris has signed a new agreement to serve as Scientific Advisor to Rhelion Life Sciences and its wholly owned subsidiary Filament Health.

Toronto, Ontario--(Newsfile Corp. - October 14, 2026) - Rhelion Life Sciences Corp. (CSE: RHEL) (FSE: 4YX) (OTCQB: TRUFF) ("Rhelion" or the "Company"), an Ontario-based organization advancing innovation and research within the legal psychedelic sector. Through its wholly owned subsidiary Filament Health Corp. ("Filament"), the Company develops, manufactures and supplies PEX010, its patented, standardized, GMP manufactured botanical psilocybin drug candidate, to clinical research and compassionate access programs at leading institutions worldwide.

The Company is pleased to announce that Dr. Robin Carhart-Harris has signed a new agreement to serve as Scientific Advisor to the Company. Dr. Carhart-Harris first joined the Company as Scientific Advisor in June 2025.

Dr. Carhart-Harris will meet regularly with the Company's management, give scientific and strategic input on the Company's research programs, and make introductions to researchers, clinicians and academic institutions. Dr. Carhart-Harris is the Ralph Metzner Distinguished Professor of Neurology and Psychiatry at the University of California, San Francisco, and previously founded the Centre for Psychedelic Research at Imperial College London. He advises the Company in a personal capacity.

"Psychedelic science is at an exciting point," said Dr. Carhart-Harris. "I look forward to helping the team progress their own research and support researchers around the world."

"Robin has been a trusted voice for us since he first joined, and we are very happy to have him with us again," said Todd Shapiro, CEO and Director of Rhelion. "With Filament now part of Rhelion, his guidance and network will help us support more researchers with standardized natural psilocybin and potentially help us with our own clinical trial development."

PEX010, Filament Health'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 1, 5 and 25 mg 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 Health Corp., including its lead drug candidate, PEX010, and its portfolio of 78 issued patents across 13 patent families.

Proposed Debt Settlement

The Company also announces that it has agreed to settle indebtedness of approximately $100,000 owed to an arm's length creditor (the "Creditor") in connection with a prior obligation of Filament, through the issuance of 3,333,333 common shares of the Company (the "Settlement Shares") to the Creditor at a deemed price of $0.03 per Settlement Share (the "Debt Settlement").

The Company intends to complete the Debt Settlement on the first date permitted under the policies of the Canadian Securities Exchange (the "CSE") following the dissemination of this news release.

The Debt Settlement remains subject to the final approval of the CSE. All securities issued in connection with the Debt Settlement will be subject to a statutory hold period of four months and one day from the date of issuance in accordance with applicable securities laws and CSE policies.

Grant of Options

The Company further announces that it has granted an aggregate of 2,300,000 stock options (the "Options") to certain employees and consultants of the Company and its subsidiaries pursuant to the Company's equity incentive plan. Each Option is exercisable at a price of $0.05 into one common share of the Company for a period of five years from the date of grant. The Options vest in four equal installments on the dates that are three, six, nine and twelve months following the date of grant.

About Rhelion Life Sciences:

Rhelion Life Sciences is a science and research led company advancing the natural psychedelic drug discovery and development sector. Through its wholly owned subsidiary Filament Health Corp., 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.

Cautionary Statement Regarding Forward-Looking Statements

This press release contains certain "forward-looking information" within the meaning of applicable Canadian securities legislation. Such forward-looking information and forward-looking statements are not representative of historical facts or information or current conditions but instead represent only the Company's beliefs regarding future events, plans or objectives, many of which, by their nature, are inherently uncertain and outside of the Company's control. Often, but not always, forward-looking statements and information can be identified by the use of words such as "plans", "expects" or "does not expect", "is expected", "estimates", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved. Examples of such information include statements with respect to: the advisory relationship with Dr. Carhart-Harris and its expected benefits to the Company; the potential development by the Company of its own clinical trials; the Company's research programs and its academic, clinical, regulatory and commercial relationships; the continued supply of PEX010 to research studies; demand for standardized natural psilocybin; the anticipated future availability of a 0.5 mg dose alongside the existing 1, 5 and 25 mg doses; the expected integration of Filament's clinical infrastructure and intellectual property; the future development, commercialization and regulatory approval of PEX010; the Company's intention to complete the Debt Settlement, including the issuance of the Settlement Shares to the Creditor and the terms thereof; the timing of completion of the Debt Settlement; and the receipt of final CSE approval for the Debt Settlement.

Forward-looking information in this news release is based on certain assumptions and expected future events, namely: the continuation of the advisory relationship with Dr. Carhart-Harris; the Company's ability to benefit from his scientific input and introductions; the Company's ability to fund and advance its own clinical trial development; the continued ability of Filament and Psilo Scientific Ltd. to manufacture and supply PEX010; the completion of development of the 0.5 mg dose of PEX010 on the anticipated basis; the ability to obtain and maintain any required regulatory permits and approvals, including clinical trial, ethics, import and export authorizations; the successful integration of Filament Health following the completed acquisition; the receipt of final CSE approval of the Debt Settlement on the terms set out herein; the performance by the Company and the Creditor of their respective obligations in connection with the Debt Settlement, including the issuance and delivery of the Settlement Shares by the Company within the time contemplated; and general business, market and economic conditions. Risks, uncertainties and other factors involved with forward-looking information could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information, namely: the risk that the advisory relationship ends or changes; the risk that the Company does not realize the expected benefits of the advisory relationship, including new research or commercial relationships; the risk that the Company does not pursue, or is unable to fund or advance, its own clinical trial development; delays in regulatory permitting, including clinical trial, ethics, import and export authorizations; regulatory or enforcement developments affecting the legal framework for psilocybin supply and research; the risk that the 0.5 mg dose does not become available as anticipated; the risk that integration of Filament Health is not completed as anticipated; the risk that the CSE does not provide its final approval of the Debt Settlement or requires changes to its terms; the risk that the Company is unable to issue the Settlement Shares on the terms set out herein, within the time contemplated or at all; the risk that the Creditor does not perform its obligations in connection with the Debt Settlement; and adverse changes in the regulatory or political landscape affecting psychedelic research and access, together with the other risk factors described in the Company's continuous disclosure documents available under the Company's profile on SEDAR+ at www.sedarplus.ca. Readers are cautioned that the foregoing list is not exhaustive.

Although the Company believes that the assumptions and factors used in preparing, and the expectations contained in, the forward-looking information and statements are reasonable, undue reliance should not be placed on such information and statements, and no assurance or guarantee can be given that such forward-looking information and statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information and statements. The forward-looking information and forward-looking statements contained in this press release are made as of the date of this press release, and the Company does not undertake to update any forward-looking information and/or forward-looking statements that are contained or referenced herein, except in accordance with applicable securities laws.

Neither the Canadian Securities Exchange nor its Regulation Services Provider have reviewed or accept responsibility for the adequacy or accuracy of this release.

Source: Rhelion Life Sciences Corp.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/318914