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Nirvana Reports Progress with Health Canada Dealer's License Application and Facility Development

C.NIRV

Vancouver, British Columbia--(Newsfile Corp. - March 21, 2022) - Nirvana Life Sciences Inc., (CSE: NIRV) a Canadian based life sciences company aimed at developing non-addictive chronic pain and addiction treatment products is pleased to announce progress with licensing and development of its Vancouver research and development facility.

The Company applied for a Dealer's License from Health Canada in July of 2021. That application is currently in the final review stage, with approval expected within 270 days of application. The Dealer's License would permit research and development, manufacturing, import / export, sale to qualified investigators as well as sale to other Licensed Dealers in Canada for 29 different controlled substances, including novel compounds, consisting of different tryptamines, phenethylamines, ergolines and aryl-cyclohexylamines.

To support this stage of this application, the company has engaged CannDelta Inc., a scientific and regulatory consulting company based in Toronto, Canada to assist with the review currently under way by Health Canada's Controlled Substance Division.

The Company has also engaged Orion GMP Solutions to support the regulatory process with the design of a GMP compliant facility. Orion GMP is a leader in regulatory consulting for the controlled substances, cannabis and pharmaceutical sectors.

The two firms have collaborated to develop a regulatory plan, design and security plan for the proposed GMP compliant research and development facility, submitted along with the Dealer's License application.

Mr. Bruce Clark, Chief Executive Officer of Nirvana commented, "We are pleased to be in the late stages of the review process and are very confident that we will progress quickly with the assistance from CannDelta and Orion GMP Solutions."

"The projects that Nirvana has under way have the potential of making a meaningful difference for people and communities struggling because of addiction issues, the licensed facility will accelerate our research and development projects."

About Nirvana Life Sciences

Nirvana Life Sciences Inc. (CSE: NIRV) is an innovator in the emerging Psychedelic space. Its business model combines the development of novel formulations for drug development with the development of laboratory space to support ongoing development and manufacturing. At Nirvana, we believe that psylocibin derived medicines can play a leading role in reducing the impacts of the opioids crisis and build healthier communities. For more information visit https://nirvanalifescience.com/

For further information:

Bruce Clark CEO
info@nirvanalifescience.com
Phone: 604-401-8100

The Canadian Securities Exchange has neither approved nor disapproved the contents of this news release and accepts no responsibility for the adequacy or accuracy hereof.

Forward-Looking Statements

This news release contains certain forward-looking statements and forward-looking information (collectively referred to herein as "forward-looking statements") within the meaning of Canadian securities laws including, without limitation, statements with respect to the future investments by the Company. All statements other than statements of historical fact are forward-looking statements. Undue reliance should not be placed on forward-looking statements, which are inherently uncertain, are based on estimates and assumptions, and are subject to known and unknown risks and uncertainties (both general and specific) that contribute to the possibility that the future events or circumstances contemplated by the forward-looking statements will not occur. Although the Company believes that the expectations reflected in the forward-looking statements contained in this press release, and the assumptions on which such forward-looking statements are made, are reasonable, there can be no assurance that such expectations will prove to be correct. Readers are cautioned not to place undue reliance on forward-looking statements included in this document, as there can be no assurance that the plans, intentions or expectations upon which the forward-looking statements are based will occur. By their nature, forward-looking statements involve numerous assumptions, known and unknown risks and uncertainties that contribute to the possibility that the predictions, forecasts, projections and other forward-looking statements will not occur, which may cause the Company's actual performance and results in future periods to differ materially from any estimates or projections of future performance or results expressed or implied by such forward-looking statements. The forward-looking statements contained in this news release are made as of the date hereof and the Company does not undertake any obligation to update publicly or to revise any of the included forward-looking statements, except as required by applicable law. The forward-looking statements contained herein are expressly qualified by this cautionary statement

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/117542