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Wellbeing Digital Sciences Becomes a Founding Sponsor of the Women in Psychedelics Network

N.MEDI

The Company’s Chief Executive Officer, Najla Guthrie, has Agreed to Play an Instrumental Role in Establishing the WIP Network to Heighten the Role of Women in the Emerging Industry

VANCOUVER, British Columbia, May 10, 2022 (GLOBE NEWSWIRE) -- Wellbeing Digital Sciences Inc. (“Wellbeing” or the “Company”) (NEO: MEDI) (OTC: KONEF) (FRA: SQ2), an evidence-based mental healthcare company focused on the development and implementation of innovative clinical solutions, including psychedelic medicine and digital therapeutics, as supported by clinical research is pleased to announce that it has become a founding sponsor of the Women in Psychedelics Network (the “WIP” or the ”WIP”). Both Wellbeing and its subsidiary, KGK Science Inc. (“KGK”), are founding supporters of the WIP, as led by Najla Guthrie. WIP was created to bring women together in the psychedelic industry, of every discipline, and build a community based on education, support, growth, and experience. More information about WIP can be found on its website via the following URL: https://womeninpsychedelicsnetwork.com/.

The formation of WIP is to make a long-term impact on the psychedelic space, by bringing together a diverse group of women in this space and to be a voice for all women going forward regarding their developments, achievements and challenges. Information sharing, expertise and collaboration are a few of the many elements that the founders of WIP believe will help advocate and represent the women who are part of the psychedelic medicine industry. Although times are changing and women in all fields are beginning to be recognized and valued, as they should be, the formation of the WIP is being developed to bring brilliant female minds together and have them be represented in the psychedelics sector. WIP will look to recruit healthcare representatives, scientists, and company leaders, as well as sponsorships from companies that may not be led by women but are support WIP.

Najla Guthrie, Chief Executive Officer of Wellbeing, and now the founder of WIP, has demonstrated a strong desire to mentor and lead, as an advocate for psychedelic compounds as medicine for mental health. Ms. Guthrie has played a major role in growing KGK into a leading North American contract research organization that provides high quality clinical trials with a focus on emerging psychedelic industries. She has published over 50 peer-reviewed papers and has given multiple presentations at both national and international levels. Najla is also the President and Chief Executive Officer of KGK and is currently recognized as a global leader and coveted spokesperson in the nutraceutical trade. She is also lobbying for the advancement of policy changes in the supplement and cannabis industries.

Management Commentary

“I am excited for WIP and the value that it is expected to bring to women and the industry. As a founder, I am honoured to lead a wonderful group that supports women and promotes growth within the psychedelic and research communities. Women in this industry have so much to offer, and I am optimistic that WIP will foster an open, educational and collaborative atmosphere for women all around the world in which to share and create,” said Najla Guthrie, CEO of Wellbeing. “The main goal of the Wellbeing’s management team is to improve mental health and create innovative solutions. We believe that WIP will help the industry accomplish that as well,” added Ms. Guthrie.

Consultant Share Payment

The Company also announced that it has issued 5,000,000 common shares (the “Shares”) to an arm’s length agent at a deemed price per share of $0.25 for the identification, negotiation, and strategic advice in respect of joint ventures, partnerships, and clinic acquisition opportunities. The Shares are subject to a hold period of four months and one day from the date of issuance in accordance with applicable Canadian securities laws.

RSU Grant

The Company also announces that its Board of Directors has approved a grant of 210,000 restricted share units (the "RSUs") in aggregate to an affiliate of an arm’s length consultant, pursuant to the Company's RSU plan. The RSUs vested immediately on the date of issuance and each RSU entitles the holder to receive one common share of the Company in exchange.

ABOUT KGK SCIENCE

Founded in 1997, KGK is a leading North American contract research organization based in London, Ontario that primarily provides high-quality clinical research trials with a focus on nutraceutical and emerging health care products. The business has successfully helped hundreds of companies with custom-designed clinical trials and claim substantiation strategies to move products into global markets. KGK’s other existing service lines include expert regulatory support and compliance solutions, participant recruitment, research support services and consulting services. On an approximate basis, the business to date has produced 150 publications, executed over 400 clinical trials across more than 40 indications, amassed 25,000 participants in its database and collected 10 million data points.

ABOUT WELLBEING DIGITAL SCIENCES

Wellbeing Digital Sciences Inc. is an evidence-based mental healthcare company focused on the development and implementation of innovative clinical solutions, including psychedelic medicine and digital therapeutics, as supported by clinical research. Its mission is supported by a network of North American clinics that provide forward-thinking therapies and other types of treatment to patients as well as through a contract research organization that offers clinical trials services to clients pursuing drug development. In essence, the Company exists to make breakthrough treatments more accessible and to offer patients transformational experiences.

On behalf of:

WELLBEING DIGITAL SCIENCES INC.

"Najla Guthrie"
Najla Guthrie, CEO

For further information, please contact:

Nick Kuzyk, Investor Relations
Tel: 1-844-746-6351
Email: ir@wellbeingdigital.co
Web: www.wellbeingdigital.co
Twitter: @Wellbeing_IR

Kirsten Krose, President
SWON Public Affairs
Tel: 613-558-9210
Email: Kirsten@swonpublicaffairs.com

Notice Regarding Forward-Looking Information:

This news release contains forward-looking statements including but not limited to statements regarding the Company’s business, assets or investments, as well other statements that are not historical facts. Readers are cautioned not to place undue reliance on forward-looking statements, as there can be no assurance that the plans, intentions or expectations upon which they are based will occur. By their nature, forward-looking statements involve numerous assumptions, known and unknown risks and uncertainties, both general and specific, that contribute to the possibility that the predictions, forecasts, projections and other forward-looking statements will not occur, which may cause 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. These assumptions, risks and uncertainties include, among other things, the state of the economy in general and capital markets in particular, investor interest in the business and prospects of the Company.

The forward-looking statements contained in this news release are made as of the date of this news release. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable securities law. Additionally, the Company undertakes no obligation to comment on the expectations of, or statements made, by third parties in respect of the matters discussed above.

SOURCE: WELLBEING DIGITAL SCIENCES INC.


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