Press Release: Lobe Sciences Board of Directors Elects to Receive Shares in Lieu of Cash for All Board Fees

Vancouver, British Columbia–(Newsfile Corp. – January 23, 2023) – Lobe Sciences Ltd. (CSE: LOBE) (OTCQB: LOBEF) (“Lobe” or the “Company”), a North American biopharmaceutical company committed to discovering and developing psychedelic derived medicines for neurologic and brain disease today announced its Board of Directors voted to receive shares in Lobe in lieu of the traditional cash renumeration.

Philip J. Young, Chairman and Chief Executive Officer of the Company stated, “This is a tremendous endorsement of our progress and industry leading clinical development plans for 2023 and beyond. Lobe Sciences is proud of our transition into a fully integrated Biotechnology company that has developed the end-to-end capabilities to discover and produce pharmaceutical products. We have the capabilities for cGMP manufacturing, product development combined with industry leading expertise in the regulatory and clinical development of our proprietary psilocin drugs, L-130 and L-131.”

“Lobe’s leadership in neurological conditions and brain disease continues to grow as evidenced by its proprietary platform of differentiated tryptamine-based analogues. The Board looks forward to seeing the advancement of these novel compounds in clinical trials in the first half of 2023. Collectively, we will continue to offer our industry expertise and strategic support to Lobe as the Company emerges into a leader in neurologic conditions on a global scale.”

About Lobe Sciences Ltd.

Lobe Sciences is a life sciences company focused on developing patient friendly practical psychedelic medicines. The Company, through collaborations with industry-leading partners, is engaged in drug research and development using sub hallucinatory doses of psychedelic compounds and the development of innovative devices and delivery mechanisms to improve mental health and wellness.

For further information please contact:

Lobe Sciences Ltd.
Philip J Young, CEO
info@lobesciences.com
Tel: (949) 505-5623

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