Awakn Life Sciences Corp. (NEO: AWKN) (OTCQB: AWKNF) (FSE: 954) ('Awakn' or the 'Company'), a biotechnology company developing and delivering psychedelic therapeutics (medicines and therapies) to treat addiction, announced today the execution of an agreement to appoint Kate Butler as new Chief Financial Officer ("CFO"), and Jonathan Held, current Chief Financial Officer, to transition to Awakn's Chief Business Officer. Under the terms of the agreement, Kate has joined Awakn effective immediately, however, Jonathan Held shall remain as the CFO for a transition period of up to three months (or such shorter period as may be agreed by the parties), upon which Kate and Jonathan shall each assume their new roles.

Kate Butler is a highly skilled finance leader with extensive experience in the biotechnology industry. Ms. Butler joins Awakn from Vectura Group plc, where she was the Group Financial Controller leading the team's strategic, finance and M&A activity. Prior to that she was Head of Finance for EMEA Cell Therapy (Kite Europe) and EMEA Controller for Gilead Sciences Inc from April 2016 to December 2019. Previously, she also spent four years at Anglo American plc and nine years at Ernst & Young LLP.

"Kate is a seasoned senior leader with wide-ranging experience leading large international finance teams having held leadership positions at Gilead Sciences Inc and Vectura Group plc," said Anthony Tennyson, Awakn's CEO. "Kate will bring a valuable perspective to Awakn during this critical growth phase as we execute on our strategy to develop and deliver psychedelic therapeutics to better treat addiction. We are delighted to welcome another skilled executive to our leadership team."

Kate Butler, newly appointed CFO commented, "I am very excited to be joining an already talented and impressive senior leadership team and board at Awakn. I look forward to being a key contributor to help the Company continue down its path of treating the global unmet medical need of addiction."

About Awakn Life Sciences Corp.

Awakn Life Sciences is a biotechnology company developing and delivering psychedelic therapeutics (medicines and therapies) to better treat addiction. Awakn's team consists of world leading chemists, scientists, psychiatrists, and psychologists who are developing and advancing the next generation of psychedelic drugs, therapies, and enabling technologies to treat addiction. Awakn will deliver these evidence backed psychedelic therapies in clinics in the UK and Europe and through licensing partnerships globally.

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Notice Regarding Forward Looking Information

This news release contains certain forward-looking information and forward-looking statements, as defined in applicable securities laws (collectively referred to herein as "forward-looking statements"). Forward-looking statements reflect current expectations or beliefs regarding future events or the Company's future performance. All statements other than statements of historical fact are forward-looking statements. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "continues", "forecasts", "projects", "predicts", "intends", "anticipates", "targets" or "believes", or variations of, or the negatives of, such words and phrases or state that certain actions, events or results "may", "could", "would", "should", "might" or "will" be taken, occur or be achieved, including statements relating to the proposed future changes in management, and the general development of the Company's business. All forward-looking statements, including those herein are qualified by this cautionary statement.

Although the Company believes that the expectations expressed in such statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the statements. There are certain factors that could cause actual results to differ materially from those in the forward-looking information. These include: the business plans and strategies of the Company, the ability of the Company to comply with all applicable governmental regulations in a highly regulated business; the inherent risks in investing in target companies or projects which have limited or no operating history and are engaged in activities currently considered illegal in some jurisdictions; changes in laws; limited operating history; reliance on management; requirements for additional financing; competition; inconsistent public opinion and perception regarding the medical-use of psychedelic drugs; and regulatory or political change. Readers are cautioned that the foregoing list of factors is not exhaustive of the factors that may affect forward-looking statements. Accordingly, readers should not place undue reliance on forward-looking statements. The forward-looking statements in this news release speak only as of the date of this news release or as of the date or dates specified in such statements.

Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking information. For more information on the Company, investors are encouraged to review the Company's public filings on SEDAR at www.sedar.com. The Company disclaims any intention or obligation to update or revise any forward- looking information, whether as a result of new information, future events or otherwise, other than as required by law.

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