Vancouver, British Columbia--(Newsfile Corp. - February 7, 2023) - PreveCeutical Medical Inc. (CSE: PREV) (OTCQB: PRVCF) (FSE: 18H) (the "Company" or "PreveCeutical"), is pleased to announce that on February 1, 2023, PreveCeutical has appointed ICON as the clinical research organization (CRO) to complete the following.

• Conduct a comprehensive gap analysis to both confirm current conclusions as well as identify any potential additional nonclinical studies (beyond those already underway or in the planning stage) that will be needed to support a successful initial IND and / or CTA submission.
• Construction of a clinical development plan for Phase 1 through pivotal Phase 3 studies.
• Authoring of the Investigational Brochure for the Client's lead peptide in the final indication of interest.
• Perform all three clinical trials.

PreveCeutical shall commence the clinical development with ICON in Q1 2023 and work with regulators to seek any potential fast track provisions as we believe that a non-addictive pain analgesic will meet the requirements due to the global abuse of painkillers currently available.

PreveCeutical's Chief Executive Officer, Mr. Stephen Van Deventer, commented, "Moving forward as PreveCeutical transitions from an R&D company into clinical development, it is our priority to select the best partner for this development. After many reviews of the best global CROs, we have selected ICON as we believe that they are one of the best in the world, with experience in all clinical matters and, more importantly, pain treatment therapies. ICON provides us with the ability to be flexible in which countries we will perform the clinical work as they are established to perform these worldwide."

ICON plc is a world-leading healthcare intelligence and clinical research organization. It provides outsourced services to pharmaceutical, biotechnology, medical device and government and public health organizations. ICON employs approximately 41,150 in over 50 countries.

About PreveCeutical

PreveCeutical is a health sciences company that develops innovative options for preventive and curative therapies utilizing organic and nature identical products. The Company aims to be a leader in preventive health sciences sector.

With the completion of three of its research programs, the Company is actively working on the development, clinical trials, and commercialization of its products; and has filed a number of provisional patent applications to protect the intellectual property from its research programs.

For more information about PreveCeutical, please visit our website www.PreveCeutical.com or follow us on Twitter and Facebook.

On behalf of the Board of Directors of PreveCeutical

Stephen Van Deventer, Chairman and Chief Executive Officer

For further information, please contact:

Stephen Van Deventer: +1 604 306 9669
Or Investor Relations This email address is being protected from spambots. You need JavaScript enabled to view it.

Forward-Looking Statements:

This news release contains forward-looking statements and forward-looking information (collectively, "forward-looking statements") within the meaning of applicable Canadian and US securities legislation, including the United States Private Securities Litigation Reform Act of 1995. All statements in this news release that are not purely historical are forward-looking statements and include statements regarding beliefs, plans, expectations and orientations regarding the future, including, without limitation, matters related to the Company's current and planned research and development programs, including the Analgesic Program, the Company's anticipated business plans and its prospect of success in executing its proposed plans. Often, but not always, forward-looking statements can be identified by words such as "will", "plans", "expects", "may", "intends", "anticipates", "believes", "proposes" or variations of such words including negative variations thereof and phrases that refer to certain actions, events or results that may, could, would, might or will occur or be taken or achieved. Forward-looking statements are based on certain assumptions regarding the Company, including expected growth, results of operations, including the Company's research and development activities, performance, industry trends, growth opportunities, and that the Company will be able to obtain the financing required to carry out its planned future activities, retain and attract qualified research personnel and obtain and/or maintain the necessary intellectual property rights it needs to carry out its future business activities.

Actual results could differ from those projected in any forward-looking statements due to numerous factors including, risks and uncertainties relating to the Analgesic Program, complexities and delays in connection with research and development activities and the actual results of research and development activities, and the inability of the Company, to, among other things, obtain any required governmental, regulatory or stock exchange approvals, permits, consents or authorizations required, including Canadian Securities Exchange acceptance of any planned future activities, commercialize therapeutic and diagnostic technologies, execute its proposed business plans, pursue business partnerships, complete its research and product development programs as planned, including the Analgesic Program, and obtain the financing required to carry out its planned future activities. Other factors such as general economic, market or business conditions or changes in laws, regulations and policies affecting the healthcare and cannabis industries in Canada may also adversely affect the future results or performance of the Company. These forward-looking statements are made as of the date of this news release and, unless required by applicable law, the Company assumes no obligation to update the forward-looking statements or to update the reasons why actual results could differ from those projected in these forward-looking statements. Although the Company believes that the statements, beliefs, plans, expectations, intentions, and assumptions contained in this news release are reasonable, there can be no assurance that those statements, beliefs, plans, expectations, intentions, or assumptions will prove to be accurate. Readers should consider all of the information set forth herein and should also refer to other periodic reports provided by the Company from time-to-time. These reports and the Company's filings are available at www.sedar.com.

Readers are cautioned that forward-looking statements are not guarantees of future performance or events and, accordingly, are cautioned not to put undue reliance on forward-looking statements due to the inherent uncertainty of such statements.