Lucy Scientific Discovery Inc. Announces Sponsorship at the Psychedelic Science Conference June 19-25, 2023

VANCOUVER, British Columbia, May 19, 2023 (GLOBE NEWSWIRE) — Lucy Scientific Discovery Inc. (“Lucy” or “the Company”) (NASDAQ: LSDI), a Nasdaq-listed licensed producer of compounds for medicinal products, today announced that it will be a sponsor at the Multidisciplinary Association for Psychedelic Studies (MAPS) Psychedelic Science Conference taking place June 19-25, 2023 in Denver, Colorado.

Psychedelic Science 2023, the breakthrough psychedelic conference with an estimated 10,000 attendees, will feature five days of panels, workshops, and lectures from leaders and visionaries in psychedelic research, education, policy, business, culture, and communities. Conference tracks will be complemented by pre- and post-conference workshops; an exhibit hall; and an interactive installation space featuring artists, musicians, and other vendors from around the world. More details will be announced as the event continues to be finalized.

About Lucy Scientific Discovery Inc.

Lucy Scientific Discovery Inc. (NASDAQ: LSDI) is a Nasdaq-listed company and a licensed producer of compounds for medicinal products. Holding a Controlled Drugs and Substances Dealer’s License granted by Health Canada’s Office of Controlled Substances, Lucy Scientific Discovery Inc. and its wholly-owned subsidiary, LSDI Manufacturing Inc., operate under Part J of the Food and Drug Regulations promulgated under the Food and Drugs Act (Canada). This specialized license authorizes LSDI to develop, sell, deliver, and manufacture pharmaceutical-grade active pharmaceutical ingredients (APIs) used in controlled substances and their raw material precursors. Lucy does not sell psilocybin products to the general public. With a focus on pioneering innovative therapies for patients in need, Lucy Scientific Discovery Inc. is dedicated to advancing the understanding and applications of psychedelic medicine, improving mental health outcomes, and enhancing well-being for individuals worldwide.

About MAPS

Founded in 1986, MAPS is a 501(c)(3) non-profit research and educational organization that develops medical, legal, and cultural contexts for people to benefit from the careful uses of psychedelics and marijuana. MAPS is sponsoring the most advanced psychedelic therapy research in the world: Phase 3 clinical trials of MDMA-assisted therapy for PTSD. Since its founding, MAPS has raised over $140 million for psychedelic and marijuana research and education and has earned both the Guidestar Platinum Seal of Transparency and a 4-Star Rating from Charity Navigator.

Cautionary Note Regarding Forward-Looking Statements

This press release may contain forward-looking statements. Forward-looking statements give our current expectations or forecasts of future events. You can identify these statements by the fact that they do not relate strictly to historical or current facts. Forward-looking statements involve risks and uncertainties and include statements regarding, among other things, our projected revenue growth and profitability, our growth strategies and opportunity, anticipated trends in our market and our anticipated needs for working capital. They are generally identifiable by use of the words “may,” “will,” “should,” “anticipate,” “estimate,” “plans,” “potential,” “projects,” “continuing,” “ongoing,” “expects,” “management believes,” “we believe,” “we intend” or the negative of these words or other variations on these words or comparable terminology. In particular, these include statements relating to future actions, prospective products, market acceptance, future performance, results of current and anticipated products, sales efforts, expenses, and the outcome. Most of these factors are outside Lucy’s and TheraPsil’s control and are difficult to predict. Factors that may cause actual future events to differ materially from the expected results, include, but are not limited to: (i) the occurrence of any event, change or other circumstance that could give rise to the termination of our partnership with TheraPsil, (ii) the inability to recognize the anticipated benefits of the partnership, which may be affected by, among other things, competition and the ability of the post-combination company to grow and manage growth profitability, (iii) costs related to the collaboration, (iv) the ability to implement business plans, forecasts, and other expectations of the partnership, as well as identify and realize additional opportunities, (v) the outcome of any legal proceedings that may be instituted against Lucy or TheraPsil following the announcement of the collaboration, and (vi) other risks and uncertainties indicated in the filings that are made from time to time with the SEC by Lucy (including those under the “Risk Factors” sections therein).

These statements are based on our management’s expectations, beliefs and assumptions concerning future events affecting us, which in turn are based on currently available information. These assumptions could prove inaccurate. Although we believe that the estimates and projections reflected in the forward-looking statements are reasonable, our expectations may prove to be incorrect.

Media Contact:

NisonCo Public Relations
Michelle Melton
michelle@nisonco.com

Investor Contact:
Addo Investor Relations, Inc.
lucyscientific@addo.com