MINDCURE Launches Second Stage of Manufacturing Synthetic Ibogaine for Use in Psychedelic Clinical Research

MINDCURE's pharmaceutical grade ibogaine would provide researchers access to a
sustainable, high-quality, reliable, and consistent supply of the psychedelic drug.

VANCOUVER, BC, July 27, 2021 /PRNewswire/ - Mind Cure Health Inc. (CSE: MCUR) (OTCQB: MCURF) (FRA: 6MH) ("MINDCURE" or the "Company"), a leader in advanced proprietary technology and research for psychedelics, is pleased to announce it has launched the second stage of manufacturing pharmaceutical grade ibogaine to be used in clinical research. During this stage, the Company will be assessing the quality of the synthetic ibogaine when produced at scale to determine the timing and cost for commercial-scale manufacturing.

As first announced on July 13, 2021, MINDCURE has also filed patent applications for two routes of chemical synthesis of ibogaine. Both routes may provide advantages of improved isomeric purity, increased chiral purity, and more easily isolated intermediate compounds. These two routes are currently under assessment to determine which will be the preferred method for further development.

Ibogaine is a psychoactive substance that can be found naturally in the roots of the iboga tree, which grows in Africa. Due to the psychoactive properties, ibogaine has traditionally been used for spiritual and ritual purposes among the Bwiti tribe in Gabon. Research has shown that ibogaine effects receptors known to have activity in pain, addiction, and neurodegenerative conditions, and it has also shown potential and is being studied for addictive disorders.¹

MINDCURE's synthetic production of ibogaine could provide access to a research and medicinal supply of pharmaceutical grade ibogaine. Successfully scaling up production of ibogaine would also create the opportunity for the drug to be used by MINDCURE's research team, by other researchers conducting clinical trials, and eventually by clinicians providing psychedelic-assisted psychotherapy around the world.

"We are now one step closer towards our goal of manufacturing synthetic ibogaine at a commercial scale for research purposes," said Kelsey Ramsden, President and CEO of MINDCURE. "We are currently working on proving the ability to scale up the production, and our next step will be to test the ibogaine to ensure it meets the highest standards of pharmaceutical grade product."

"Ibogaine has the therapeutic potential to treat addiction and it shows promise in addressing other brain injuries as well," said Joel Raskin, MINDCURE's Chief Medical Officer. "Researchers need access to a standardized, high-quality supply of ibogaine that ensures consistent dosing and reliable results. Our goal is to be the company that provides this supply."

About Mind Cure Health Inc.
MINDCURE is a life sciences company focused on innovating and commercializing new ways to promote healing and improve mental health. The company is developing digital therapeutics technology and researching psychedelic compounds to support access to safe, evidence-based psychedelic-assisted therapies globally. Learn more at mindcure.com, and follow us on Facebook, Twitter, and Instagram.

Forward-Looking Information

Certain information presented in this news release may constitute "forward-looking information" within the meaning of applicable securities laws regarding MINDCURE and its business. Forward-looking information inherently entails known and unknown risks and uncertainties about the future and actual results, performance or achievements contemplated by forward-looking statements made may be materially different from the results anticipated or implied by such forward-looking information. Forward-looking information generally can be identified by the use of terms and phrases such as "anticipate", "believe", "could", "estimate", "expect", "feel", "intend", "may", "plan", "predict", "project", "subject to", "will", "would", and similar terms and phrases.

Forward-looking information is based on a number of key expectations and assumptions made by management of MINDCURE, including, without limitation: the COVID-19 pandemic impact on the Canadian economy and MINDCURE's business, and the extent and duration of such impact; no change to laws or regulations that negatively affect MINDCURE's business; there will be a demand for MINDCURE's products in the future; no unanticipated expenses or costs arise; MINDCURE will be able to continue to identify products that make them ideal candidates for providing solutions for treating mental health; that the functional mushroom industry will continue to grow; that iSTRYM will be developed, optimized and operate as contemplated within the psychedelics industry; or that the Company will be successful in obtaining the patents applied for synthesizing ibogaine, or will be successful in synthesizing ibogaine or developing synthesized ibogaine for research, medical or commercial use.

Although MINDCURE has attempted to identify important factors that could cause actual results, performance or achievements to differ materially from those described in forward-looking information presented, there may be other factors that cause results, performance or achievements to differ from those anticipated, estimated or intended. Accordingly, readers should not place undue reliance on any forward-looking statements as no forward-looking information can be guaranteed.

Except as required by applicable securities laws, forward-looking statements speak only as of the date on which they are made and MINDCURE does not undertake any obligation to publicly update or revise any forward-looking information, whether as a result of new information, future events, or otherwise.

SOURCE Mind Cure Health Inc.