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Nirvana Announces First Production of Psilocybin and Psilocin

Vancouver, British Columbia--(Newsfile Corp. - April 21, 2022) - Nirvana Life Sciences Inc. (CSE: NIRV) ("Nirvana" or the "Company") is pleased to announce that its supply agreement with Symeres B.V. has produced its first 20 grams of Psilocybin and 20 grams of Psilocin. These materials will support the Company's ongoing research and development projects.

Dr. Sazzad Hossain, Chief Scientific Officer of Nirvana commented, "We are very pleased to have these materials available as we enter the next phase of research and development.," "Symeres has the capacity to produce and supply many of the compounds that are essential to our research".

About Symeres

Symeres is one of the largest European small molecule CRO & CDMOs, providing R&D services and manufacturing to major pharmaceutical and biotechnology companies around the globe. Its highly specialized services include integrated small molecule optimization efforts, complex synthetic chemistry, route scouting & drug synthesis up to GMP production, solid state chemistry and ADME-Tox services.

About Nirvana Life Sciences

Nirvana Life Sciences Inc. (CSE:NIRV) is an innovator in the emerging Psychedelics 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 psylocibins derived medicines can play a leading role in reducing the impacts of the opioids crisis and build healthier communities. For more information visit https://www.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/121164