The patent describes the extraction and standardization of stable doses of psychedelic compounds

Filament Health Corp. (OTCQB:FLHLF) (NEO:FH) (FSE:7QS) ("Filament" or the "Company"), a clinical-stage natural psychedelic drug development company, today announced that it has been issued a fourth patent for the extraction and standardization of natural psilocybin and associated psychedelic compounds. Filament's latest patent was issued by the Canadian Intellectual Property Office (CIPO) and describes essential technology for transforming variable psychedelic raw materials into pharmaceutical-grade, standardized drug candidates.

"Adding a fourth patent to our portfolio demonstrates the calibre of Filament's intellectual property strategy and drug development platform," said Ryan Moss, Chief Science Officer at Filament Health. "Our ability to transform valuable natural substances into IP-protected pharmaceutical-grade drug candidates sets us apart as industry leaders."

Filament has developed innovative technology to extract and standardize stable doses of natural compounds from magic mushrooms. On August 3, 2021, Filament was issued the first-ever patent for the extraction and standardization of natural psilocybin, and since then the Company has been issued a further two patents by CIPO and one by the United States Patent and Trademark Office.

"Since Filament's founding, we have endeavoured to identify the most efficient means to extract naturally sourced fungal APIs," said Taran Grey, Director of Intellectual Property. "We are proud to add a patent that covers yet another novel process that we use to produce drug candidates."

Completion of Annual Third Party Audit

Filament Health subsidiary Psilo Scientific recently completed an annual third-party audit of its manufacturing facility by Eurofins against Canadian and European Union Good Manufacturing Practices (GMP). Following the audit, Filament received a letter of compliance from the auditor demonstrating that its facility meets the requirements for the GMP manufacturing of natural psychedelic drug candidates.

ABOUT FILAMENT HEALTH (OTCQB:FLHLF) (NEO:FH) (FSE:7QS)

Filament Health is a clinical-stage natural psychedelic drug development company. We believe that safe, standardized, naturally-derived psychedelic medicines can improve the lives of many, and our mission is to see them in the hands of everyone who needs them as soon as possible. Filament's platform of proprietary intellectual property enables the discovery, development, and delivery of natural psychedelic medicines. We are paving the way with the first-ever natural psychedelic drug candidates.

Learn more atwww.filament.health and on Twitter, Instagram and LinkedIn.

FORWARD LOOKING INFORMATION

Certain statements and information contained herein may constitute "forward-looking statements" and "forward-looking information," respectively, under Canadian securities legislation. Generally, forward-looking information can be identified by the use of forward-looking terminology such as, "expect", "anticipate", "continue", "estimate", "may", "will", "should", "believe", "intends", "forecast", "plans", "guidance" and similar expressions are intended to identify forward-looking statements or information. The forward-looking statements are not historical facts, but reflect the current expectations of management of Filament regarding future results or events and are based on information currently available to them. Certain material factors and assumptions were applied in providing these forward-looking statements. The forward-looking statements discussed in this press release may include, but are not limited to, information concerning the impact of the patent on the Company's business and the ability of the Company to secure future patents. Forward-looking statements regarding the Company are based on the Company's estimates and are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, levels of activity, performance or achievements of Filament to be materially different from those expressed or implied by such forward-looking statements or forward-looking information, including status of patent applications and the ability to secure patents. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. Filament will not update any forward-looking statements or forward-looking information that are incorporated by reference herein, except as required by applicable securities laws.