Field Trip Health & Wellness Announces Posting on the OTC Market

Trading on the OTCQB Effective February 2, 2023, under the Symbol “FTHWF”

TORONTO, Feb. 03, 2023 (GLOBE NEWSWIRE) — Field Trip Health & Wellness Ltd. (TSXV: FTHW) (the “Company” or “Field Trip”), global leader in the delivery of psychedelic therapies, is pleased to announce that the Company has received approval from the Financial Regulatory Authority (“FINRA”) for its shares to commence trading on the OTCQB Market (“the OTCQB”) in the United States under the symbol “FTHWF” effective February 2, 2023. Field Trip will continue to trade on the TSX Venture Exchange under its existing symbol “FTHW”.

Ronan Levy, Chairman and Chief Executive Officer of Field Trip Health & Wellness, stated, “Being posted on the OTCQB is a key milestone in our evolution as one of today’s leading providers of psychedelic therapy. As we enhance our efforts to bring a more holistic treatment program to the forefront of the mental health industry that combines technology, medicine, well-being, and community, it is of key importance that our progress is shared with a broad investor base. By trading on the OTCQB, we can achieve increased visibility of Field Trip to U.S. investors and improve our overall liquidity as we grow our global shareholder base.”

The Company also announced that as a result, in part, of the announcement by the US government of its intention to end the Public Health Emergency related to the COVID-19 Pandemic (the “PHE”), it is re-evaluating its Freedom by Field Trip program. The Freedom by Field Trip program relies on an exception to the Ryan Haight Act that permitted prescribing of controlled substances such as ketamine by telemedicine during the PHE. With the end of the PHE occurring in the first half of 2023, the Company is evaluating its strategy around the Freedom by Field Trip program and, as a result, has stopped enrolling new clients in the program.

About Field Trip Health & Wellness Ltd.

With a large global community of psychedelic-interested people, proprietary psychedelic therapies that generate transformative results for people in the treatment of mental health conditions and a brand and share of voice that is reaching millions of people, Field Trip is a center of gravity for the psychedelic renaissance.

Learn more at https://www.meetfieldtrip.com, https://www.fieldtriphealth.com and https://www.fieldtriphealth.nl.

Follow us on Twitter and Instagram: @fieldtriphealth

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Download Field Trip’s app here.

About the OTCQB

The OTCQB is a U.S. trading platform operated by the OTC Markets Group and is the leading marketplace of early-stage and developing U.S. and international companies. To be eligible, companies must be current in their financial reporting, undergo an annual company verification and management certification process, and meet a minimum bid price test. The OTCQB provides key benefits for investors with efficient market standards, transparency, and visibility of companies on the OTCQB market. Streamlined market standards enable Canadian companies to provide a strong baseline of transparency to inform and engage U.S. investors. To learn more, visit www.otcmarkets.com.

Cautionary Note Regarding Forward-Looking Information.

This release includes forward-looking information (within the meaning of Canadian securities laws) regarding the Company and its business. Often but not always, forward-looking information can be identified by the use of words such as “expect”, “intends”, “anticipated”, “believes” or variations (including negative variations) of such words and phrases, or state that certain actions, events or results “may”, “could”, “would” or “will” be taken, occur or be achieved. Such statements are based on the current expectations and views of future events of the management of the Company and are based on assumptions and subject to risks and uncertainties. Although management believes that the assumptions underlying these statements are reasonable, they may prove to be incorrect. The forward-looking events and circumstances discussed in this release may not occur and could differ materially as a result of known and unknown risk factors and uncertainties affecting the companies, including sign-ups, downloads, engagement, reviews, ability of Field Trip to realize its business plan, grow its client base or app user base, use of the Field Trip application by users, uptake in existing or new programs by clinicians or patients, if any, acceptance of psychedelic treatments by clinicians, patients, and regulators, ability or effect of any clinical restructuring, future changes in regulatory regimes which govern Field Trip’s business, and/or the ability of Field Trip to realize on its business plan for broadened, holistic approach to mental health and wellbeing. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. Accordingly, readers should not place undue reliance on any forward-looking statements or information. No forward-looking statement 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 the Company does not undertake any obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise. Additional information relating to the Company, can be located on the SEDAR website at www.sedar.com .

This press release does not constitute an offer to sell or the solicitation of an offer to buy securities.

Neither the TSX Venture Exchange nor its Regulation Services Provider, have approved the contents of this release or accept responsibility for the adequacy or accuracy of this release.

CONTACTS:

Field Trip Health & Wellness:
Ronan Levy
Chairman & CEO
(416) 505-0929
ronan@fieldtriphealth.com

Investor contacts:
Phil Carlson / Sophia Bashford 
KCSA Strategic Communications
(646) 573-0776 / (929) 246-7307
fieldtripIR@kcsa.com

SOURCE Field Trip Health & Wellness Ltd.