Vancouver, British Columbia – TheNewswire - October 28, 2021 – Cava Healthcare Inc. (“Cava”) is pleased to announce that it has entered into an agreement to sell its right, title and interest in and the intellectual property rights for use of psychedelics to treat dementia to Mynd Life Sciences Inc. (CSE:MYND) (OTC:MYNDF).  Mynd is a Kelowna, BC based medical biotech drug research and development company focused on neuro‑pharmaceutical and novel psilocybin drug development, diagnostics and vaccines. The agreement includes all future worldwide rights relating to use of psychedelics to treat Alzheimer's disease and other dementias.

Under the agreement, the consideration to be paid by Mynd to Cava for the acquired assets shall be 450,000 common shares of the buyer at a deemed price of 85 cents per share and $120,000. In addition, Mynd shall pay to Cava an annual royalty equal to the greater of: (i) $240,000; or (ii) 4 per cent of the net sales of any product or service which directly or indirectly incorporates the acquired assets to any third party. The closing of the purchase and sale of the acquired assets is conditional upon Mynd obtaining conditional approval of Canadian Securities Exchange for the listing of the shares.

Dementia is a devastating neurodegenerative condition that leads to severe cognitive decay in older populations and worsens with age. The World Health Organization estimates that between 44 and 50 million people worldwide suffer from dementia. The estimated cost of caring for people with dementia, including Alzheimer's disease, in the United States alone, was a staggering $305 billion in 2020, and is expected to reach $1.1 trillion by 2050. The number of Americans living with Alzheimer's disease is predicted to nearly triple by 2050 unless improvements in medical care are made.

Theo Warkentin, Cava’s Chief Executive Officer, stated, "Mynd is an innovative industry leader in psychedelic psychotherapy, therapeutics and diagnostics. The company is uniquely positioned to pursue the effectiveness of psilocybin and other psychedelics for treating dementias. This agreement demonstrates positive results from the Company’s business approach of testing, patenting, and licencing/selling advances in healthcare and medicine."

For Further Information:
Please contact Theo Warkentin at theo@cavahealthcare.ca or (604) 370‑1757.

On Behalf of the Board of Directors

Theo Warkentin
CEO and Director

CAVA IS FOCUSED ON ENHANCING OPTIMAL HEALTH BY PREDICTING, PREVENTING AND ALLEVIATING DISEASE

Chronic and acute inflammation and poor immune function are at the core of developing disease.  Cava is addressing this unmet healthcare challenge through isolation and characterization of novel compounds from medicinal plant extraction, creation of novel biomarkers for disease, and application of cutting-edge technologies to reverse inflammation and restore immune function to achieve optimal health.

Cautionary Note Regarding Forward-Looking Statements

This press release contains forward-looking statements and forward-looking information (collectively, “forward-looking statements”) within the meaning of applicable Canadian and U.S. securities legislation, including the United States Private Securities Litigation Reform Act of 1995.  All statements in this press 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 in respect of the prosecution and maintenance of the patent portfolio, and the Company's 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, without limitation, expected growth, results of operations and research and development activities (including in respect of the patent portfolio), results of operations, performance, industry trends, growth opportunities, and that the Company will be able to obtain the financing required to carry out its planned future business 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 actual results of research and development programs, the inability of the Company, to, among other things, protect its intellectual property, obtain any required governmental, regulatory or stock exchange approvals, permits, consents or authorizations required, commercialize any therapeutic and diagnostic technologies, execute its proposed business plans, pursue business partnerships, complete its research and development programs as planned, 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 Company's industries may also adversely affect the future results or performance of the Company.  These forward-looking statements are made as of the date of this press 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 press 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.