Posted on

Wellbeing Digital Sciences Announces the Appointment of Natalie Dolphin as VP of Marketing and Investment Relations

Wellbeing Digital Sciences Announces the Appointment of Natalie Dolphin as VP of Marketing and Investment Relations

Ms. Dolphin is a key strategic addition to the team, and will have an impact on the corporate strategy and growth opportunities of the company

Vancouver, British Columbia, June 21, 2022 / Globe Newswire / – WellbeingDigital Sciences Inc.  (“Wellbeing” or the “Company”)(NEO: MEDI) (OTC: KONEF) (FRA: SQ2), an evidence-based mental health care company focused on the development and implementation of innovative clinical solutions, including psychedelic medicine and digital therapeutics as supported by clinical research, is very pleased to announce the appointment ofMs. Natalie Dolphin as the Vice President of Marketing and InvestmentRelations.

As VP of Marketing and Investment Relations, Ms. Dolphin brings over 15 years of experience in marketing, business development and capital markets. Natalie held a managerial role at theCanadian Securities Exchange (CSE), enabling companies to go public, in addition to helping with series A and B funding opportunities. Prior to joining Wellbeing, she served as the Director of Marking at MagicMed Industries subsequently, acquired by Nasdaq listed Enveric Biosciences Inc., where she held the same title. As part of the executive leadership team,Natalie will be responsible for overseeing the planning and execution ofWellbeing’s North American marketing and investment relations strategy.

“Natalie is an outstanding addition to our Wellbeing team, having an exceptional record of leading successful marketing programs in her previous positions and will be able to focus attention on highlighting our high-quality assets and longer-term growth initiatives in the capital markets,” said Najla Guthrie, CEO of Wellbeing. “We are thrilled to welcome Natalie to the team as we continue to expand our clinical network, in addition to our contract research capabilities and digital therapeutics partnerships, to meet the evolving needs of the market. I’m confident Natalie’s experience and marketing leadership will enable us to bring meaningful and effective solutions to not only our partners in the industry looking to further develop their assets but to also create meaningful dialogue with an expanding patient base.”

“I am honoured to join the Wellbeing team and thrilled to build on the Company’s solid foundation as a leading evidence based mental health company focused on the development and implementation of innovative clinical solutions. The Company has a massive opportunity to fundamentally change the way we not only view mental health, but the way we treat mental health indications. Our team will be undertaking an extensive capital markets program over the coming months to highlight the great work that CEO Najla Guthrie and her team have accomplished so far in 2022and provide insight into our plans for the remainder of the year and beyond,” saidNatalie Dolphin, VP of Marketing and Investment Relations.

About Wellbeing Digital Science

Wellbeing Digital Sciences Inc. is an evidence-based mental healthcare company focused on the development and implementation of innovative clinical treatment solutions, including psychedelic medicine and digital therapeutics, as supported by clinical research. Its mission is supported by a network of North American clinics that provide forward-thinking therapies and other types of treatment to patients as well as through a contract research organization that offers clinical trials services to clients pursuing drug development. For additional information, please visit wellbeingdigital.co.

On behalf of:  

Najla Guthrie

Chief Executive Officer  

WELLBEING DIGITAL SCIENCES

For further information, please contact:  

Natalie Dolphin

VP of Marketing & Investment Relations  

Email: ir@wellbeingdigital.co  

Twitter: @Wellbeing_IR  

Notice Regarding Forward-Looking Information: 

This news release contains forward-looking statements including but not limited to statements regarding the Company’s business, assets or investments, as well other statements that are not historical facts. Readers are cautioned not to place undue reliance on forward-looking statements, as there can be no assurance that the plans, intentions or expectations upon which they are based will occur. By their nature, forward-looking statements involve numerous assumptions, known and unknown risks and uncertainties, both general and specific, that contribute to the possibility that the predictions, forecasts, projections and other forward-looking statements will not occur, which may cause actual performance and results in future periods to differ materially from any estimates or projections of future performance or results  expressed or implied by such forward-looking statements. These assumptions, risks and uncertainties include, among other things, the state of the economy in general and capital markets in particular,  investor interest in the business and prospects of theCompany.  

The forward-looking statements contained in this news release are made as of the date of this news release. Except as required by law, theCompany disclaims any intention and assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable securities law.Additionally, the Company undertakes no obligation to comment on the expectations of, or statements made, by third parties in respect of the matters discussed above.

Posted on

Wellbeing subsidiary KGK Science Announces Positive Clinical Trial Results of GJ 191 (JointAlive) Supplementation in treating OA

Wellbeing subsidiary KGK Science Announces Positive Clinical Trial Results of GJ 191 (JointAlive) Supplementation in treating OA

VANCOUVER, British Columbia, June 16, 2022 (GLOBE NEWSWIRE) — Wellbeing Digital Sciences Inc. (“Wellbeing” or the “Company”) (NEO: MEDI) (OTC: KONEF) (FRA: SQ2), an evidence-based mental healthcare company focused on the development and implementation of innovative clinical solutions, including psychedelic medicine and digital therapeutics as supported by clinical research, announces that a clinical study conducted by its wholly owned subsidiary KGK Science Inc. (“KGK”) has shown positive results of its GJ 191 supplementation (“JointAlive®”) in treating osteoarthritis (OA).

GJ 191 is a natural health product developed by Chenland Nutritionals, Inc. and is a formulation of three Traditional Chinese Medicinal ingredients including Epimedium, Salvia miltiorrhiza, and Dioscorea extracts. In the recent study conducted by KGK investigating GJ 191 supplementation, results showed it to be safe and efficacious in improving knee joint function in adults with knee osteoarthritis (OA) and self-reported knee pain who were otherwise healthy.

This randomized, double-blind, placebo-controlled intervention demonstrated that supplementation with GJ 191 provided reductions in current knee pain at 6 and 12 weeks, whereas those taking Placebo reported no improvements. Additionally, after 12 weeks, 53% of participants supplemented with GJ 191 reported a clinically important improvement in knee OA symptoms. Comparatively, only 28% of participants in the Placebo group reached the same threshold.

“This clinically meaningful change has impact on this population of patients with self-reported knee pain,” says Dr. Mal Evans, Chief Scientific Officer at KGK Science.

Chenland Nutritionals’ CTO, Dr. Zimin Liu, added, “JointAlive® is the first TCM based formulation which promotes joint health in as quickly as 7 days, improves joint flexibility and helps maintain healthy joints. In addition, it has been notified to the Food and Drug Administration (“FDA”), without objection, as a New Dietary Ingredient and on 3 structure function claims. This study is a critical step in providing consumers with scientifically based and safe alternatives for addressing aches and discomfort and bringing natural health products to market.”

Seventy-two males and females between 40-73 years were enrolled in this study. Participants consumed either GJ 191 or Placebo daily for 12 weeks.

More detailed results from this study will be available upon publication.

ABOUT KGK SCIENCE

Subsidiary of Wellbeing Digital Sciences, KGK is a leading North American contract research organization based in London, Ontario that primarily provides high-quality clinical research trials with a focus on nutraceutical and emerging health care products. Founded in 1997, the business has successfully helped hundreds of companies with custom designed clinical trials and claim substantiation strategies to move products into global markets. KGK’s other existing service lines include expert regulatory support and compliance solutions, participant recruitment, research support services and consulting services. Furthermore, the company has produced over 150 publications, executed over 400 clinical trials across more than 40 indications, amassed 25,000 participants in its database and collected 10 million data points. For additional information, please visit kgkscience.com.

ABOUT WELLBEING DIGITAL SCIENCES

Wellbeing Digital Sciences Inc. is an evidence-based mental healthcare company focused on the development and implementation of innovative clinical treatment solutions, including psychedelic medicine and digital therapeutics, as supported by clinical research. Its mission is supported by a network of North American clinics that provide forward-thinking therapies and other types of treatment to patients as well as through a contract research organization that offers clinical trials services to clients pursuing drug development. For additional information, please visit wellbeingdigital.co.

About Chenland Nutritionals

Chenland Nutritionals is a developer and manufacturer for branded ingredients. We develop the branded ingredients based on traditional Chinese medicine and validate their health benefit through in vitro tests, animal studies and human clinical trials.

On behalf of:

Najla Guthrie

Chief Executive Officer

WELLBEING DIGITAL SCIENCES

For further information, please contact:

Natalie Dolphin
VP of Marketing & Investment Relations
Email: ir@wellbeingdigital.co
Twitter: @Wellbeing_IR


Notice Regarding Forward-Looking Information:

This news release contains forward-looking statements including but not limited to statements regarding the Company’s business, assets or investments, as well other statements that are not historical facts. Readers are cautioned not to place undue reliance on forward-looking statements, as there can be no assurance that the plans, intentions or expectations upon which they are based will occur. By their nature, forward-looking statements involve numerous assumptions, known and unknown risks and uncertainties, both general and specific, that contribute to the possibility that the predictions, forecasts, projections and other forward-looking statements will not occur, which may cause actual performance and results in future periods to differ materially from any estimates or projections of future performance or results expressed or implied by such forward-looking statements. These assumptions, risks and uncertainties include, among other things, the state of the economy in general and capital markets in particular, investor interest in the business and prospects of the Company.

The forward-looking statements contained in this news release are made as of the date of this news release. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable securities law. Additionally, the Company undertakes no obligation to comment on the expectations of, or statements made, by third parties in respect of the matters discussed above.

Posted on

Wellbeing subsidiary KGK Science and the International Probiotics Association (“IPA”) applauds FDA’s Commitment to Release NDI Draft Guidance Documents in the Near Future

Wellbeing subsidiary KGK Science and the International Probiotics Association (“IPA”) applauds FDA’s Commitment to Release NDI Draft Guidance Documents in the Near Future

IPA to request a Probiotic FDA Town Hall

Vancouver, British Columbia, June 9, 2022 / Globe Newswire / – Wellbeing Digital Sciences Inc.  (“Wellbeing”or the “Company”) (NEO: MEDI) (OTC: KONEF) (FRA: SQ2), subsidiary KGK Science Inc. applauds the efforts on the part of U.S Food and Drug Administration (“FDA” or the “Agency”) to release the recent New Dietary Ingredient (“NDI”) enforcement draft guidance, which is part one of a multipart series of NDI guidance documents the FDA announced during a round table discussion at the IPA World Congress + Probiota Americas.

According to FDA, the recent enforcement discretion guidance on late submissions of NDI notifications, released on May 19, 2022, was in response to its commitment in the Fall of 2021 to update guidelines in 2022. Instead of releasing a single guidance document containing all issues for stakeholder notice and comment for a third time, FDA plans to release separate and smaller draft guidance with FDA’s thinking on each group of NDI topics.

IPA in conjunction with their U.S. Task Force Leader, Dr. Corey J. Hilmas, Chief Scientific Affairs and Regulatory Officer at KGK Science Inc., has initiated discussions with industry leaders to formally request a public meeting with the FDA to discuss issues that directly apply to probiotics. “Future draft guidance documents from the Agency on NDIs are critical to the probiotic industry and many of our KGK Science clients,” said Najla Guthrie, CEO of Wellbeing Digital Sciences.

“IPA has maintained a dialog with the Agency over the course of the prior two NDI draft guidance, and we anticipate many issues will remain unresolved in upcoming NDI guidance documents. Our issues and concerns are unique to probiotics, as we have stated in previous stakeholder comments, and IPA’s request for a formal probiotic public meeting is intended to ensure that FDA has all the information it needs to address these complex topics,” said George Paraskevakos, Executive Director of IPA.

“We believe a focused public meeting to address ongoing, unresolved issues related to probiotic NDIs, GMPs, labeling, and a host of other topics is long overdue. A public meeting would be a mutually beneficial process and dialog to have between the probiotic industry and the Agency over lingering issues that could not be resolved in any other format” stated Dr. Corey J. Hilmas, KGK’s Chief Scientific Affairs and Regulatory Officer.

“IPA looks forward to continuing our dialog with the various heads of FDA responsible oversight of probiotics in a more formal setting in College Park, Maryland,” said Solange Henoud, VP Regulatory and Compliance at Lallemand Health Solutions and Chair of IPA Regulatory Committee.

For more information on the FDA Release Draft Guidance on NDI Enforcement Discretion please visit the U.S. Food & Drug Administration page

ABOUT KGK SCIENCE  

Subsidiary of Wellbeing Digital Sciences, KGK is a leading North American contract research organization based in London, Ontario that primarily provides high-quality clinical research trials with a focus on nutraceutical and emerging health care products. Founded in 1997, the business has successfully helped hundreds of companies with custom designed clinical trials and claim substantiation strategies to move products into global markets. KGK’s other existing service lines include expert regulatory support and compliance solutions, participant recruitment, research support services and consulting services. Furthermore, the company has produced over 150 publications, executed over 400 clinical trials across more than 40 indications, amassed 25,000 participants in its database and collected 10 million data points.  For additional information, please visit kgkscience.com.

ABOUT WELLBEING DIGITAL SCIENCES

Wellbeing Digital Sciences Inc. is an evidence-based mental healthcare company focused on the development and implementation of innovative clinical treatment solutions, including psychedelic medicine and digital therapeutics, as supported by clinical research. Its mission is supported by a network of North American clinics that provide forward-thinking therapies and other types of treatment to patients as well as through a contract research organization that offers clinical trials services to clients pursuing drug development. For additional information, please visit wellbeingdigital.co.

ABOUT INTERNATIONAL PROBIOTICS ASSOCIATION

The International Probiotics Association (IPA) is a global non-profit organization bringing together through its membership, the probiotic sector’s stakeholders including but not limited to academia, scientists, health care professionals, consumers, industry and regulators. The IPA’s mission is promoting the safe and efficacious use of probiotics throughout the world. Holding NGO status before Codex Alimentarius, the IPA is also recognized as the unified “Global Voice of Probiotics®” around the world. To learn more about IPA, visit https://internationalprobiotics.org/.

On behalf of:  

Najla Guthrie

Chief Executive Officer  

WELLBEING DIGITAL SCIENCES

For further information, please contact:  

Natalie Dolphin

VP of Marketing & Investment Relations  

Email: ir@wellbeingdigital.co  

Twitter: @Wellbeing_IR  

Notice Regarding Forward-Looking Information:

This news release contains forward-looking statements including but not limited to statements regarding the Company’s business, assets or investments, as well other statements that are not historical facts.  Readers are cautioned not to place undue reliance on forward-looking statements, as there can be no assurance that the plans, intentions or expectations upon which they are based will occur. By their nature, forward-looking statements involve numerous assumptions, known and unknown risks and uncertainties, both general and specific, that contribute to the possibility that the predictions, forecasts, projections and other forward-looking statements will not occur, which may cause actual performance and results in future periods to differ materially from any estimates or projections of future performance or results expressed or implied by such forward-looking statements. These assumptions, risks and uncertainties include, among other things, the state of the economy in general and capital markets in particular, investor interest in the business and prospects of the Company.  

The forward-looking statements contained in this news release are made as of the date of this news release. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable securities law. Additionally, the Company undertakes no obligation to comment on the expectations of, or statements made, by third parties in respect of the matters discussed above.

Posted on

Wellbeing Digital Sciences’ Dr. Corey Hilmas Invited to Participate as a Regulatory Panelist at Probiota Americas Event

Wellbeing Digital Sciences’ Dr. Corey Hilmas Invited to Participate as a Regulatory Panelist at Probiota Americas Event

Dr. Hilmas will Represent the Company at the IPA World Congress and Probiota Americas Event Organized by William Reed Ltd. and Taking Place from June 1-3,  2022, Where he is will Comment on Key Concerns, Advances and Understandings Surrounding the Latest Developments in Prebiotics and Probiotics  

Vancouver, British Columbia, June 1, 2022 / Globe Newswire / – Wellbeing Digital Sciences Inc.  (“Wellbeing” or the “Company”) (NEO: MEDI) (OTC: KONEF) (FRA: SQ2), an evidence-based mental  healthcare company focused on the development and implementation of innovative clinical solutions,  including psychedelic medicine and digital therapeutics, as supported by clinical research is pleased to  announce that Dr. Corey Hilmas MD, PhD, a member of the Company’s Medical Advisory Board, will be  participating as part of a regulatory panel (the “Panel”) at the 2022 IPA World Congress and Probiota  Americas Event (“Probiota Americas” or the “Event”).  

The Event will be held in Washington D.C. from June 1-3, 2022 and the panelists are expected to discuss  the pressing issues in the probiotics field regarding labelling, ensuring safe usage, expanding health  indications for probiotics and New Dietary Ingredient (“NDI”) notifications.1 The Panel has been  announced as consisting of four subject matter experts including Dr. Hilmas; Solange Henoud, Vice  President Regulatory and Compliance at Lallemand Health Solutions Inc.; Serna Viswanathan, JD, of the  Federal Trade Commission; and Betsy Jean Yakes, PhD, of the Food and Drug Administration.1 The Panel  will begin with short presentations and be followed by an open discussion.  

Dr. Hilmas also currently serves as the Chief Regulatory Officer of the Company’s wholly owned subsidiary,  KGK Science Inc. (“KGK”). He is a respected scientist, medical doctor, and former federal food regulator in  the United States (“US”). After having completed his medical degree and a doctorate in toxicology,  working as a principal investigator for many years, and serving on behalf of the US government at the  Food and Drug Administration (“FDA”), Dr. Hilmas combines his unique medical and scientific skillset with  extensive US regulatory training. He served as an NDI notification reviewer and as a branch chief within  the Division of Dietary Supplement Programs at the FDA. In addition to working on enforcement matters  related to supplement labelling, claims, good manufacturing practices and fraud, he also served as an 

expert witness for the FDA and Department of Justice, resulting in an FDA Award of Merit from former  FDA Commissioner Margaret Hamburg.  

IPA World Congress and Probiota Americas, a collaborative annual event that is considered the leading  occurrence for prebiotic, probiotic and the microbiota-focused food and pharmaceutical industries, is  scheduled to be held at the Crystal Gateway Marriot Hotel in Washington, DC. The Event is offered by  Nutraingredients-USA.com, also known as William Reed Ltd., a media, business intelligence and events  group dedicated to helping businesses succeed. Probiota Americas features world-leading experts who  present the latest scientific, technical, and market insights in the industry, and provides networking  opportunities for individuals and companies alike. The Event also includes the Scientific Frontiers, Probiota  Pioneers and Wellness Program sessions during the weekend.2 More information about the Event can be  found on its website: https://probiotaamericas.com/live/en/page/home.  

Management Commentary  

“We are pleased that Dr. Hilmas has been invited to speak on the Panel at the Probiota Americas event,”  said Najla Guthrie, CEO of Wellbeing. “Aside from his day-to-day role at KGK, he has enriched the  Company’s Medical Advisory Board and I believe that he will add great value to the Panel and Event as  well. We also excited for Dr. Hilmas to bring new information back to the Company after the Event. An  event like Probiota America is important to our industry as it focuses on the wellbeing of consumers,  which aligns well with our goals and beliefs,” added Ms. Guthrie.  

RSU Grant  

The Company also announces that its Board of Directors has approved a grant of 1,260,000 restricted  share units (the “RSUs”) in aggregate to an affiliate of an arm’s length consultant, pursuant to the  Company’s RSU plan. The RSUs vested immediately on the date of issuance and each RSU entitles the  holder to receive one common share of the Company in exchange.  

ABOUT KGK SCIENCE  

Founded in 1997, KGK is a leading North American contract research organization based in London,  Ontario that primarily provides high-quality clinical research trials with a focus on nutraceutical and  emerging health care products. The business has successfully helped hundreds of companies with custom designed clinical trials and claim substantiation strategies to move products into global markets. KGK’s  other existing service lines include expert regulatory support and compliance solutions, participant  recruitment, research support services and consulting services. On an approximate basis, the business to  date has produced 150 publications, executed over 400 clinical trials across more than 40 indications,  amassed 25,000 participants in its database and collected 10 million data points.  

ABOUT WELLBEING DIGITAL SCIENCES 

Wellbeing Digital Sciences Inc. is an evidence-based mental healthcare company focused on the  development and implementation of innovative clinical solutions, including psychedelic medicine and  digital therapeutics, as supported by clinical research. Its mission is supported by a network of North  American clinics that provide forward-thinking therapies and other types of treatment to patients as well  as through a contract research organization that offers clinical trials services to clients pursuing drug 

development. In essence, the Company exists to make breakthrough treatments more accessible and to  offer patients transformational experiences.  

On behalf of:  

WELLBEING DIGITAL SCIENCES INC. 

“Najla Guthrie”  

Najla Guthrie, Chief Executive Officer  

For further information, please contact:  

Nick Kuzyk, Investor Relations  

Tel: 1-844-746-6351  

Email: ir@wellbeingdigital.co  

Web: www.wellbeingdigital.co 

Twitter: @Wellbeing_IR  

Kirsten Krose, President  

SWON Public Affairs  

Tel: 613-558-9210 

Email: Kirsten@swonpublicaffairs.com 

Notice Regarding Forward-Looking Information: 

This news release contains forward-looking statements including but not limited to statements regarding  the Company’s business, assets or investments, as well other statements that are not historical facts.  Readers are cautioned not to place undue reliance on forward-looking statements, as there can be no  assurance that the plans, intentions or expectations upon which they are based will occur. By their nature,  forward-looking statements involve numerous assumptions, known and unknown risks and uncertainties,  both general and specific, that contribute to the possibility that the predictions, forecasts, projections and  other forward-looking statements will not occur, which may cause actual performance and results in  future periods to differ materially from any estimates or projections of future performance or results  expressed or implied by such forward-looking statements. These assumptions, risks and uncertainties  include, among other things, the state of the economy in general and capital markets in particular,  investor interest in the business and prospects of the Company.  

The forward-looking statements contained in this news release are made as of the date of this news  release. Except as required by law, the Company disclaims any intention and assumes no obligation to  update or revise any forward-looking statements, whether as a result of new information, future events  or otherwise, except as required by applicable securities law. Additionally, the Company undertakes no  obligation to comment on the expectations of, or statements made, by third parties in respect of the  matters discussed above.  

ENDNOTES 

1. “Probiota Americas panel to delve into NDI guidance, labeling, additional issues”, by Hank Schultz,  NURTAingredients-USA.com, May 19, 2022, https://www.nutraingredients usa.com/Article/2022/05/19/probiota-americas-panel-to-delve-into-ndi-guidance-labeling additional-issues 

2. “Probiota Americas 2022”, Probiota Americas, 2022,  https://probiotaamericas.com/live/en/page/home 

SOURCE: WELLBEING DIGITAL SCIENCES INC.

‍

Posted on

Wellbeing Digital Sciences Announces Resignation of Chief Financial Officer

Wellbeing Digital Sciences Announces Resignation of Chief Financial Officer

Vancouver, British Columbia, May 27, 2022 / Globe Newswire / – Wellbeing Digital Sciences Inc.  (“Wellbeing” or the “Company”) (NEO: MEDI) (OTC: KONEF) (FRA: SQ2), an evidence-based mental  healthcare company focused on the development and implementation of innovative clinical solutions,  including psychedelic medicine and digital therapeutics as supported by clinical research, announces the  resignation of its Chief Financial Officer, Joseph Ramelli. The Board of Directors thanks Mr. Ramelli for his  contributions to Wellbeing since accepting the role in late 2021. The Company expects to announce the  appointment of a new Chief Financial Officer in the near future.  

ABOUT WELLBEING DIGITAL SCIENCES 

Wellbeing Digital Sciences Inc. is an evidence-based mental healthcare company focused on the  development and implementation of innovative clinical solutions, including psychedelic medicine and  digital therapeutics, as supported by clinical research. Its mission is supported by a network of North  American clinics that provide forward-thinking therapies and other types of treatment to patients as well  as through a contract research organization that offers clinical trials services to clients pursuing drug  development. In essence, the Company exists to make breakthrough treatments more accessible and to  offer patients transformational experiences.  

On behalf of:  

WELLBEING DIGITAL SCIENCES INC. 

“Najla Guthrie”  

Najla Guthrie, CEO  

For further information, please contact:  

Nick Kuzyk, Investor Relations  

Tel: 1-844-746-6351  

Email: ir@wellbeingdigital.co  

Web: www.wellbeingdigital.co 

Twitter: @Wellbeing_IR 

Notice Regarding Forward-Looking Information: 

This news release contains forward-looking statements including but not limited to statements regarding  the Company’s business, assets or investments, as well other statements that are not historical facts.  Readers are cautioned not to place undue reliance on forward-looking statements, as there can be no  assurance that the plans, intentions or expectations upon which they are based will occur. By their nature,  forward-looking statements involve numerous assumptions, known and unknown risks and uncertainties,  both general and specific, that contribute to the possibility that the predictions, forecasts, projections and  other forward-looking statements will not occur, which may cause actual performance and results in  future periods to differ materially from any estimates or projections of future performance or results  expressed or implied by such forward-looking statements. These assumptions, risks and uncertainties  include, among other things, the state of the economy in general and capital markets in particular,  investor interest in the business and prospects of the Company.  

The forward-looking statements contained in this news release are made as of the date of this news release. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable securities law. Additionally, the Company undertakes no obligation to comment on the expectations of, or statements made, by third parties in respect of the matters discussed above.

Posted on

Wellbeing Digital Sciences Becomes a Founding Sponsor of the Women in Psychedelics Network

Wellbeing Digital Sciences Becomes a Founding Sponsor of the Women in Psychedelics Network

The Company’s Chief Executive Officer, Najla Guthrie, has Agreed to Play an Instrumental Role in Establishing the WIP Network to Heighten the Role of Women in the Emerging Industry 

Vancouver, British Columbia, May 10, 2022 / Globe Newswire / – Wellbeing Digital Sciences Inc. (“Wellbeing” or the “Company”) (NEO: MEDI) (OTC: KONEF) (FRA: SQ2), an evidence-based mental healthcare company focused on the development and implementation of innovative clinical solutions, including psychedelic medicine and digital therapeutics, as supported by clinical research is pleased to announce that it has become a founding sponsor of the Women in Psychedelics Network (the “WIP” or the ”WIP”). Both Wellbeing and its subsidiary, KGK Science Inc. (“KGK”), are founding supporters of the WIP, as led by Najla Guthrie. WIP was created to bring women together in the psychedelic industry, of every discipline, and build a community based on education, support, growth, and experience. More information about WIP can be found on its website via the following URL: https://womeninpsychedelicsnetwork.com/. 

The formation of WIP is to make a long-term impact on the psychedelic space, by bringing together a diverse group of women in this space and to be a voice for all women going forward regarding their developments, achievements and challenges. Information sharing, expertise and collaboration are a few of the many elements that the founders of WIP believe will help advocate and represent the women who are part of the psychedelic medicine industry. Although times are changing and women in all fields are beginning to be recognized and valued, as they should be, the formation of the WIP is being developed to bring brilliant female minds together and have them be represented in the psychedelics sector. WIP will look to recruit healthcare representatives, scientists, and company leaders, as well as sponsorships from companies that may not be led by women but are support WIP.

Najla Guthrie, Chief Executive Officer of Wellbeing, and now the founder of WIP, has demonstrated a strong desire to mentor and lead, as an advocate for psychedelic compounds as medicine for mental health. Ms. Guthrie has played a major role in growing KGK into a leading North American contract research organization that provides high quality clinical trials with a focus on emerging psychedelic industries. She has published over 50 peer-reviewed papers and has given multiple presentations at both national and international levels. Najla is also the President and Chief Executive Officer of KGK and is currently recognized as a global leader and coveted spokesperson in the nutraceutical trade. She is also lobbying for the advancement of policy changes in the supplement and cannabis industries.

Management Commentary

“I am excited for WIP and the value that it is expected to bring to women and the industry. As a founder, I am honoured to lead a wonderful group that supports women and promotes growth within the psychedelic and research communities. Women in this industry have so much to offer, and I am optimistic that WIP will foster an open, educational and collaborative atmosphere for women all around the world in which to share and create,” said Najla Guthrie, CEO of Wellbeing. “The main goal of the Wellbeing’s management team is to improve mental health and create innovative solutions. We believe that WIP will help the industry accomplish that as well,” added Ms. Guthrie. 

Consultant Share Payment 

The Company also announced that it has issued 5,000,000 common shares (the “Shares”) to an arm’s length agent at a deemed price per share of $0.25 for the identification, negotiation, and strategic advice in respect of joint ventures, partnerships, and clinic acquisition opportunities. The Shares are subject to a hold period of four months and one day from the date of issuance in accordance with applicable Canadian securities laws.

RSU Grant

The Company also announces that its Board of Directors has approved a grant of 210,000 restricted share units (the “RSUs“) in aggregate to an affiliate of an arm’s length consultant, pursuant to the Company’s RSU plan. The RSUs vested immediately on the date of issuance and each RSU entitles the holder to receive one common share of the Company in exchange.

ABOUT KGK SCIENCE

Founded in 1997, KGK is a leading North American contract research organization based in London, Ontario that primarily provides high-quality clinical research trials with a focus on nutraceutical and emerging health care products. The business has successfully helped hundreds of companies with custom-designed clinical trials and claim substantiation strategies to move products into global markets. KGK’s other existing service lines include expert regulatory support and compliance solutions, participant recruitment, research support services and consulting services. On an approximate basis, the business to date has produced 150 publications, executed over 400 clinical trials across more than 40 indications, amassed 25,000 participants in its database and collected 10 million data points.

ABOUT WELLBEING DIGITAL SCIENCES

Wellbeing Digital Sciences Inc. is an evidence-based mental healthcare company focused on the development and implementation of innovative clinical solutions, including psychedelic medicine and digital therapeutics, as supported by clinical research. Its mission is supported by a network of North American clinics that provide forward-thinking therapies and other types of treatment to patients as well as through a contract research organization that offers clinical trials services to clients pursuing drug development. In essence, the Company exists to make breakthrough treatments more accessible and to offer patients transformational experiences.

On behalf of:

WELLBEING DIGITAL SCIENCES INC.

“Najla Guthrie“

Najla Guthrie, CEO 

For further information, please contact:

Nick Kuzyk, Investor Relations

Tel: 1-844-746-6351

Email: ir@wellbeingdigital.co 

Web: www.wellbeingdigital.co

Twitter: @Wellbeing_IR

Kirsten Krose, President

SWON Public Affairs

Tel: 613-558-9210

Email: Kirsten@swonpublicaffairs.com

Notice Regarding Forward-Looking Information:

This news release contains forward-looking statements including but not limited to statements regarding the Company’s business, assets or investments, as well other statements that are not historical facts. Readers are cautioned not to place undue reliance on forward-looking statements, as there can be no assurance that the plans, intentions or expectations upon which they are based will occur. By their nature, forward-looking statements involve numerous assumptions, known and unknown risks and uncertainties, both general and specific, that contribute to the possibility that the predictions, forecasts, projections and other forward-looking statements will not occur, which may cause actual performance and results in future periods to differ materially from any estimates or projections of future performance or results expressed or implied by such forward-looking statements. These assumptions, risks and uncertainties include, among other things, the state of the economy in general and capital markets in particular, investor interest in the business and prospects of the Company.

The forward-looking statements contained in this news release are made as of the date of this news release. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable securities law. Additionally, the Company undertakes no obligation to comment on the expectations of, or statements made, by third parties in respect of the matters discussed above.

‍

Posted on

Wellbeing Digital Sciences Welcomes Dr. Michael Ho as New Medical Director of MindScape Clinic in Houston

Wellbeing Digital Sciences Welcomes Dr. Michael Ho as New Medical Director of MindScape Clinic in Houston

The MindScape Clinic Has Completed Over 600 Low-Dose Ketamine Infusions Since Being Purchased by the Company in April of 2021‍

Vancouver, British Columbia, May 3, 2022 / Globe Newswire / – Wellbeing Digital Sciences Inc. (“Wellbeing” or the “Company”) (NEO: MEDI) (OTC: KONEF) (FRA: SQ2), an evidence-based mental healthcare company focused on the development and implementation of innovative clinical solutions, such as psychedelic medicine and digital therapeutics supported by clinical research, is pleased to announce the appointment of Dr. Michael Ho as the new Medical Director of the MindScape Ketamine & Infusion Therapy Clinic (“MindScape” or the “Clinic”) in Houston, Texas, effective May 2, 2022. MindScape’s former medical director, Dr. Quang Henderson, is retiring after his tenure since founding the Clinic in 2018.  

Dr. Michael Ho serves as the director of Safe Sleep Anesthesia in Houston, Texas. He is also the course director of Anesthesiology Consultants in Houston, Texas, with an accumulation of over 20,000 hours of anesthesia instruction to his credit. Dr. Ho was Staff Physician at the University of Texas in the Department of Anesthesiology at Memorial-Hermann Hospital for 10 years and has over 20 years of teaching and working as an anesthesiologist. He has received many awards for excellence in teaching at the Baylor College of Medicine and The University of Texas Medical Branch. Dr. Ho graduated from Cornell University with B.A. in Biochemistry and went on to attain an M.D. at Washington University School of Medicine, with his postgraduate training in pediatrics and anesthesiology. Adding to his impressive resume of education, teaching, and medical practice of anesthesiology, Dr. Ho also has amassed 15 publications, 7 onsite courses and 17 webinars. 

Since MindScape was purchased by Wellbeing on April 21, 2021, the Clinic has administered over 600 low-dose ketamine infusions to patients, which the Company views as a significant milestone.  Wellbeing is in the process of evaluating the addition of complementary mental health services being provided to patients at the Clinic. The Company has also recently implemented a new marketing strategy and intends to grow the local patient base by establishing connections with mental health practitioners in the area that have recognized the potential of the off-label use of ketamine in the treatment of mood disorders. Ketamine appears to have anti-depressant and anti-suicidal effects and, according to recent studies, the possibility of ketamine treating mood disorders like bipolar is thought to be quite promising.1

‍

Management Commentary

“We are excited to welcome Dr. Ho to the Mindscape facility and to Wellbeing overall, especially based on his impressive set of qualifications. I would like to thank Dr. Henderson for establishing Mindscape and for his service to the Company over the past year. I wish him well in his retirement and that he enjoys the next chapter of his life knowing that the Clinic is in Dr. Ho’s good hands,” said Najla Guthrie, Chief Executive Officer of Wellbeing.

ABOUT MINDSCAPE 

Mindscape Ketamine & Infusions Therapy, PLLC is a clinic in Houston, Texas, offering affordable delivery of concierge IV ketamine therapy for treatment-resistant mood disorders, mental health disorders, and chronic pain conditions. Operated by Dr. Quang Henderson, a licensed Board-Certified Emergency Physician with over 20 years of experience with ketamine, Mindscape assists people dealing with depression, anxiety, PTSD, chronic pain, and other mood disorders using the medical procedure of IV ketamine treatments in low dose, high dose, or private sessions. Mindscape Ketamine & Infusion Therapy, PLLC is the only IV ketamine clinic in Houston to offer virtual reality-based guided meditation to complement IV ketamine infusions in the treatment of depression, bipolar disorder, anxiety, PTSD, OCD, and other mood disorders. For more information on MindScape and its service offerings, please visit: https://www.mindscapeketamine.com

ABOUT WELLBEING DIGITAL SCIENCES

Wellbeing Digital Sciences Inc. is an evidence-based mental healthcare company focused on the development and implementation of innovative clinical solutions, including psychedelic medicine and digital therapeutics, as supported by clinical research. Its mission is supported by a network of North American clinics that provide forward-thinking therapies and other types of treatment to patients as well as through a contract research organization that offers clinical trials services to clients pursuing drug development. In essence, the Company exists to make breakthrough treatments more accessible and to offer patients transformational experiences.

On behalf of: 

WELLBEING DIGITAL SCIENCES INC.

“Najla Guthrie”

Najla Guthrie, CEO

For further information, please contact:

Nick Kuzyk, Investor Relations

Tel: 1-844-746-6351

Email: ir@wellbeingdigital.co 

Web: www.wellbeingdigital.co

Twitter: @Wellbeing_IR

Notice Regarding Forward-Looking Information: 

This news release contains forward-looking statements including but not limited to statements regarding the Company’s business, assets or investments, as well other statements that are not historical facts. Readers are cautioned not to place undue reliance on forward-looking statements, as there can be no assurance that the plans, intentions or expectations upon which they are based will occur. By their nature, forward-looking statements involve numerous assumptions, known and unknown risks and uncertainties, both general and specific, that contribute to the possibility that the predictions, forecasts, projections and other forward-looking statements will not occur, which may cause actual performance and results in future periods to differ materially from any estimates or projections of future performance or results expressed or implied by such forward-looking statements. These assumptions, risks and uncertainties include, among other things, the state of the economy in general and capital markets in particular, investor interest in the business and prospects of the Company.

The forward-looking statements contained in this news release are made as of the date of this news release. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable securities law. Additionally, the Company undertakes no obligation to comment on the expectations of, or statements made, by third parties in respect of the matters discussed above.

‍

ENDNOTES

  1. “Ketamine in Bipolar Disorder: A Review”, Alina Wilkowska et al, National Library of Medicine: National Center for Biotechnology Information, November 12, 2020, https://www.ncbi.nlm.nih.gov/pmc/articles/PMC7670087/
Posted on

Wellbeing Digital Sciences Subsidiary IRP Health Approved as Part of Coveted Chronic Pain Centre of Excellence for Canadian Veterans Network

Wellbeing Digital Sciences Subsidiary IRP Health Approved as Part of Coveted Chronic Pain Centre of Excellence for Canadian Veterans Network

The Company’s Ottawa-Based IRP Health Clinic has Also Been Approved by Veterans Affairs Canada for its Reactivation Program  

Vancouver, British Columbia, April 28, 2022 / Globe Newswire / – Wellbeing Digital Sciences Inc.  (“Wellbeing” or the “Company”) (NEO: MEDI) (OTC: KONEF) (FRA: SQ2), an evidence-based  mental healthcare company focused on the development and implementation of innovative clinical  solutions such as psychedelic medicine and digital therapeutics supported by clinical research, is pleased to  announce that its subsidiary, IRP Health Ltd. (“IRP Health” or the “Subsidiary”), has been approved as  part of the Chronic Pain Centre of Excellence for Canadian veterans (“CPCoE”). Additionally, IRP  Health’s clinic in Ottawa, Ontario (the “Ottawa Clinic”) has been approved by Veterans Affair Canada  (“VAC”) for its multidisciplinary Reactivation-branded therapy program (“Reactivation”).  

CPCoE  

After meeting strict criteria, IRP Health’s four Canadian locations will now be listed and recommended as  part of the national network of clinics. The clinics will contribute towards the national collection of data to  help further research and innovation with respect to the treatment of military veterans. The CPCoE provides  national leadership for research co-designed with veterans and their families and supports the  implementation of this research with a national network of clinics to help veterans and their families manage  their pain and reconnect with life.  

Thanks to CAD 20 million in funding from VAC over five years, the CPCoE strives to be a leader in  veteran-first chronic pain research and improving care.. The CPCoE is already the national leader in  researching chronic pain inveterans. Its guiding principles for research include national and international  collaborations, building upon its existing strengths in Canada, and capitalizing on the investments made by  VAC. With the goal of improving veterans’ wellbeing, the CPCoE’s research findings will be used to  promote evidence-based best practices to inform a network of pain clinics, researchers, case managers and  the public. More information can be found by visiting the following website:  https://www.veteranschronicpain.ca/  

Ottawa Clinic 

IRP Health’s Ottawa Clinic has been approved by VAC to begin offering the Reactivation therapy program  at the location. Reactivation is a 12-week, physician-supervised, interdisciplinary pain management  program that assists veterans with chronic musculoskeletal injuries and pain. It aims to help veterans return  to behaviours that are consistent with being well, rather than behaviours that are consistent with suffering.  The goals of Reactivation are to decrease distressing symptoms, increase engagement in the community  and increase the ability to complete daily tasks and also strives to reduce patient disability in both the short  and long term, while giving veterans better control and understanding of their pain and health challenges.  The therapy program combines psychiatry, psychology, occupational therapy, physiotherapy, kinesiology,  and dietetics to provide an interdisciplinary approach and a cutting-edge treatment.  

VAC is a government organization for current and former members of the Canadian Armed Forces, Royal  Canadian Mounted Police and their family members which strives to provide services and benefits intended  to improve the well-being of the veterans and their kin. The approval of the Reactivation program in the  Ottawa Clinic has the potential to make a difference in the lives of many veterans who are coping with  mental and physical illnesses. More information about VAC can be found on its website:  https://www.veterans.gc.ca/eng 

Management Commentary  

“Being recognised by Canada’s leader in chronic pain research and services for military veterans is both a  privilege and an honour. The support and guidance we have received through the CPCoE to this point has  been integral in developing our foundation for growth and we look forward to supporting them through  furthering their national data collection,” said Steven Inglefield, Chief Executive Officer of IRP Health and  Chief Operating Officer of Wellbeing.  

“We are pleased that IRP Health continues to make strides toward improving the lives of veterans and first  responders through the Reactivation program. To be recognized as being a national network of clinics that  works with Canadian veterans, IRP Health is evolving in positive ways. We are proud of the Subsidiary for  becoming part of the CPCoE and helping veterans and their families. As part of Wellbeing, IRP Health is  focused on enriching the lives of its patients and raising the bar for outstanding mental healthcare,” said  Najla Guthrie, Chief Executive Officer of Wellbeing.  

ABOUT IRP HEALTH  

Founded in 2016, IRP began as a rehabilitation and performance centre offering exercise therapy and  rehabilitation programs in Victoria, British Columbia. IRP builds safe and supportive environments while  demonstrating modern, evidence-based physical rehabilitation programs designed specifically for the needs  of veterans and first responders. Building on the success of over 15,000 treatments in the flagship Victoria  location. IRP is adding new locations and programs to improve access to much needed treatments. More  information about IRP Health can be found on its website: https://www.irphealth.ca 

ABOUT WELLBEING DIGITAL SCIENCES  

Wellbeing Digital Sciences Inc. is an evidence-based mental healthcare company focused on the  development and implementation of innovative clinical solutions, including psychedelic medicine and  digital therapeutics, as supported by clinical research. Its mission is supported by a network of North  American clinics that provide forward-thinking therapies and other types of treatment to patients as well as  through a contract research organization that offers clinical trials services to clients pursuing drug  development. In essence, the Company exists to make breakthrough treatments more accessible and to offer  patients transformational experiences. 

On behalf of:  

WELLBEING DIGITAL SCIENCES INC. 

“Najla Guthrie” 

Najla Guthrie, CEO  

For further information, please contact:  

Nick Kuzyk, Investor Relations  

Tel: 1-844-746-6351  

Email: ir@wellbeingdigital.co  

Web: www.wellbeingdigital.co 

Twitter: @Wellbeing_IR  

Notice Regarding Forward-Looking Information: 

This news release contains forward-looking statements including but not limited to statements regarding  the Company’s business, assets or investments, as well other statements that are not historical facts. Readers  are cautioned not to place undue reliance on forward-looking statements, as there can be no assurance that  the plans, intentions or expectations upon which they are based will occur. By their nature, forward-looking  statements involve numerous assumptions, known and unknown risks and uncertainties, both general and  specific, that contribute to the possibility that the predictions, forecasts, projections and other forward 

looking statements will not occur, which may cause actual performance and results in future periods to  differ materially from any estimates or projections of future performance or results expressed or implied by  such forward-looking statements. These assumptions, risks and uncertainties include, among other things,  the state of the economy in general and capital markets in particular, investor interest in the business and  prospects of the Company.  

The forward-looking statements contained in this news release are made as of the date of this news release.  Except as required by law, the Company disclaims any intention and assumes no obligation to update or  revise any forward-looking statements, whether as a result of new information, future events or otherwise,  except as required by applicable securities law. Additionally, the Company undertakes no obligation to  comment on the expectations of, or statements made, by third parties in respect of the matters discussed  above.  

Posted on

Wellbeing Digital Sciences Forms Special Committee to Explore Advances in Digital Therapeutics for Mental Health

Wellbeing Digital Sciences Forms Special Committee to Explore Advances in Digital Therapeutics for Mental Health

  • The Company’s Special Committee, led by Najla Guthrie, Will Seek to Uncover New Opportunities in the Use of Digital Therapeutics for Mental Health as the Company Forges Ahead With its Recently Refreshed Competitive Strategy
  • The Global Digital Therapeutics Market is Projected to Reach USD 13.1 Billion by 2026 from USD 3.4 Billion in 2021, Which Equates to a CAGR of 31.4% During the Forecast Period

VANCOUVER, British Columbia, April 25, 2022 (GLOBE NEWSWIRE) — Wellbeing Digital Sciences Inc. (“Wellbeing” or the “Company”) (NEO: MEDI) (OTC: KONEF) (FRA: SQ2), an evidence-based mental healthcare company focused on the development and implementation of innovative clinical solutions, such as psychedelic medicine and digital therapeutics supported by clinical research, is pleased to announce the formation of a special committee led by Najla Guthrie, Chief Executive Officer of Wellbeing, to explore advances in digital therapeutics regarding mental health (the “Special Committee”). Digital therapeutics is one of Wellbeing’s core strategic pillars, along with contract research and psychedelic medical treatments. With the recent announcement of an evolved competitive strategy for the Company, the formation of the Special Committee aligns with Wellbeing and its plans to establish next-generation mental health clinics, contemporize existing clinic facilities and launch best-in-class adjunct programs to improve patient treatment outcomes.

The global digital therapeutics market is projected to reach USD 13.1 billion by 2026 from USD 3.4 billion in 2021, which equates to a CAGR of 31.4% during the forecast period.1 The relevance of digital therapeutics in mental health has increased over the years, as there were more than 500 clinical trials conducted between January 2010 and December 2019, 40% of these trials were related to mental health in the areas of psychiatry, addiction, neurology, and sleep medicine.2 Over the past decade, digital therapeutics products have demonstrated substantial benefits in the management of patients with a variety of complex and challenging diseases, including and especially in the mental health realm. Digital therapeutics are generally delivered through smartphones or computers and tablets, which makes their application more convenient and private for patients. Amidst the global mental health crisis, Wellbeing has determined digital therapeutics advancements to be the top priority for the Special Committee to explore.

Overall, digital therapeutics is an evidence-based therapeutic intervention that can be used independently or in collaboration with medications, devices, and other therapies to optimize patient care and health outcomes. Digital therapeutic products aim to produce a medical intervention that is software-driven, is based on evidence, incorporates privacy and security for patients, and ultimately provides patients with an alternative solution for traditional medical practices.2 Also, digital therapeutics can be available in multiple languages, which increases the accessibility of treatment for many populations with language barriers within the healthcare system.3

Empowering patients and clinicians with intelligent and accessible tools for addressing a wide range of conditions through high quality, safe, and effective data-driven interventions, is the main goal of digital therapeutics and aligns with the Company’s recently updated mission and values:

To enrich lives through mental healthcare services;

  • To transform lives, improve patient experience, through a contemporary, global and comprehensive mental healthcare model of service;
  • To equip clinicians with new tools to complement existing pharmacotherapeutic approaches;
  • To re-conceptualize the way mental health services are delivered to the community; and
  • To make a positive impact on the lives of patients, create an active network of collaborating mental health experts, foster future innovation, and re-engineer the way present-day mental healthcare services are delivered to create change and improve patient outcomes.

Management Commentary

“We at Wellbeing are excited to form the Special Committee regarding digital therapeutics to learn more about opportunities that may potentially exist and be worth exploring from a commercial perspective. I look forward to adding key staff members and other advisors to the Special Committee in the near future, so the Company can be best positioned to capitalize on this growing market opportunity and ultimately help more people improve their mental health,” said Najla Guthrie, Chief Executive Officer of Wellbeing. “Our goal has always been to enrich peoples’ lives through mental health services and I am keen to see how the Special Committee can discover revolutionary, comprehensive and collaborative healthcare opportunities,” added Ms. Guthrie.

ABOUT WELLBEING DIGITAL SCIENCES

Wellbeing Digital Sciences Inc. is an evidence-based mental healthcare company focused on the development and implementation of innovative clinical solutions, including psychedelic medicine and digital therapeutics, as supported by clinical research. Its mission is supported by a network of North American clinics that provide forward-thinking therapies and other types of treatment to patients as well as through a contract research organization that offers clinical trials services to clients pursuing drug development. In essence, the Company exists to make breakthrough treatments more accessible and to offer patients transformational experiences.

On behalf of:

WELLBEING DIGITAL SCIENCES INC.

“Najla Guthrie”
Najla Guthrie, CEO

For further information, please contact:

Nick Kuzyk, Investor Relations
Tel: 1-844-746-6351
Email: ir@wellbeingdigital.co

Web: www.wellbeingdigital.co
Twitter: @Wellbeing_IR

Notice Regarding Forward-Looking Information:

This news release contains forward-looking statements including but not limited to statements regarding the Company’s business, assets or investments, as well other statements that are not historical facts. Readers are cautioned not to place undue reliance on forward-looking statements, as there can be no assurance that the plans, intentions or expectations upon which they are based will occur. By their nature, forward-looking statements involve numerous assumptions, known and unknown risks and uncertainties, both general and specific, that contribute to the possibility that the predictions, forecasts, projections and other forward-looking statements will not occur, which may cause actual performance and results in future periods to differ materially from any estimates or projections of future performance or results expressed or implied by such forward-looking statements. These assumptions, risks and uncertainties include, among other things, the state of the economy in general and capital markets in particular, investor interest in the business and prospects of the Company.

The forward-looking statements contained in this news release are made as of the date of this news release. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable securities law. Additionally, the Company undertakes no obligation to comment on the expectations of, or statements made, by third parties in respect of the matters discussed above.

ENDNOTES

  1. “Digital Therapeutics (DTx) Market by Application (Prediabetes, Nutrition, Care, Diabetes, CVD, CNS, CRD, MSD, GI, Substance Abuse, Rehabilitation), Sales Channel (B2C, Patient, Caregiver, B2B, Providers, Payer, Employer, Pharma) – Global Forecasts to 2026”, Markets and Markets, accessed on April 21, 2022, https://www.marketsandmarkets.com/Market-Reports/digital-therapeutics-market-51646724.html?gclid=Cj0KCQjwgYSTBhDKARIsAB8KuksDuYPH_PFilO7XaV9g2-Ll2S-0rmPsfgr25AhhsaYwLnmjcP1XxcMaAnL8EALw_wcB
  2. “The Expanding Role of Digital Therapeutics in Mental Health”, Gregory P. Licholai, Psychiatric Times, August 13, 2021, https://www.psychiatrictimes.com/view/the-expanding-role-of-digital-therapeutics-in-mental-health
  3. “Digital Therapeutics Definition and Core Principles: Digital therapeutics definition”, Digital Therapeutics Alliance, November 2019, https://dtxalliance.org/wp-content/uploads/2021/01/DTA_DTx-Definition-and-Core-Principles.pdf

‍

Posted on

Wellbeing Digital Sciences Signs MOU with Pathway Health Regarding the Potential Sale of Certain Assets

Wellbeing Digital Sciences Signs MOU with Pathway Health Regarding the Potential Sale of Certain Assets

The Company is Working to Crystalize the MOU into a Set of Definitive Agreements in the Near Future, with Closings Expected to Occur within the Next 75 Days

Vancouver, British Columbia, April 21, 2022 / Globe Newswire / – Wellbeing Digital Sciences Inc. (“Wellbeing” or the “Company”) (NEO: MEDI) (OTC: KONEF) (FRA: SQ2), an evidence-based mental healthcare company focused on the development and implementation of innovative clinical solutions, such as psychedelic medicine and digital therapeutics supported by clinical research, is pleased to announce that it has signed a memorandum of understanding (“MOU”) with Pathway Health Corp. (“Pathway”) (TSXV: PHC) pursuant to which Pathway would acquire certain Canadian assets of Wellbeing. The contemplated transaction is expected to be completed in two stages, all concluding on or before June 30, 2022, and the consideration for the assets is yet to be determined. Pathway is one of the major providers of out-patient pain management services in Canada that owns and operates eleven community-based clinics across four provinces. Health professionals at Pathway work together to help patients by using a variety of evidence-based approaches.

Pursuant to the terms and conditions of the MOU, Pathway would acquire a license for the pain management program of the Company’s wholly owned subsidiary, IRP Health Ltd. (“IRP”), and the intellectual property (“IP”) associated with the provision of intravenous ketamine services (“IVK”) to treat mental health conditions, among other assets. The MOU also outlines a fractional franchise model for IRP and related fee structure. The first closing is contemplated to include IRP and IVK on or before April 30, 2022, while the second closing is contemplated to include the remaining assets documented in the MOU on or before June 30, 2022.

IRP provides multi-disciplinary rehabilitation services to military veterans, RCMP and first responders. Under the contemplated transaction, IRP would provide IP and support services related to staff training, branding, licensing, and program development including verification of Pathway locations with Veterans Affairs Canada to serve more patients. CGM provides medical cannabis services for patients across Canada via telemedicine and in-person clinics. The completion of the completed transaction is subject to terms and conditions which include but are not limited to the execution of a set of definitive agreements, completion of satisfactory due diligence, the delivery and satisfactory review of the financial statements and the approval of the transaction by the boards of directors of all applicable entities.

Management Commentary

“We are excited to have executed this MOU and are working hard with Pathway to crystalize it into a set of definitive agreements. The contemplated transaction would enable Wellbeing to continue on the path of evolving its competitive strategy focused on evidence-based mental healthcare through contract research and digital therapeutics,” said Najla Guthrie, Chief Executive Officer of Wellbeing.

“This is a significant step in rapidly expanding the accessibility for military veterans, RCMP and first responders of IRP’s Veterans Affairs Canada-approved interdisciplinary pain management program. Path and Wellbeing share the same passion and value to help provide needed services for these heroes. We look forward to solidifying this agreement,” added Steven Inglefield, Chief Operating Officer of Wellbeing and Chief Executive Officer of IRP.

“We’re very pleased to be entering into this agreement with Wellbeing and IRP as we expand our pain and mental health services to our military veterans, RCMP and other first responders,” said Ken Yoon, CEO at Pathway Health. According to a 2021 research paper published by the Journal of Military, Veteran, and Family Health1, veterans appear to be particularly vulnerable to experiencing chronic pain, with rates that are two to three times higher than in the general population. More specifically, recent studies of Canadian Air Force Veterans have noted prevalence between 41% and 64%. “With our experience in chronic pain management and our aim in growing presence in mental health services, we believe Pathway Health is ideally suited to provide valuable clinical services to this most deserving group of Canadians. We feel very honoured to be taking on this role,” added Mr. Yoon.

ABOUT PATHWAY HEALTH

Pathway Health is an integrated healthcare company that provides products and services to patients suffering from chronic pain and related conditions. The Company owns and operates eleven community based clinics across four provinces where its team of health professionals work together to help patients through a variety of evidence-based approaches and products, including medical cannabis. Pathway Health’s patient care programs utilize an interdisciplinary approach that is guided by trained pain specialists, physical and occupational therapists, psychologists, nurses, and other healthcare providers. Pathway is also the leading provider of medical cannabis services in Canada and has established itself as the leading partner with national and regional pharmacy companies for the delivery of medical cannabis services to their customers. The Company is working with several pharmacy companies on the development of Cannabis Health Products (CHPs) for OTC product distribution through retail pharmacy locations across the country following anticipated changes to the Cannabis Act.

For more information, visit Pathway Health’s website: www.pathwayhealth.ca

ABOUT WELLBEING DIGITAL SCIENCES

Wellbeing Digital Sciences Inc. is an evidence-based mental healthcare company focused on the development and implementation of innovative clinical solutions, including psychedelic medicine and digital therapeutics, as supported by clinical research. Its mission is supported by a network of North American clinics that provide forward-thinking therapies and other types of treatment to patients as well as through a contract research organization that offers clinical trials services to clients pursuing drug development. In essence, the Company exists to make breakthrough treatments more accessible and to offer patients transformational experiences.

On behalf of:

WELLBEING DIGITAL SCIENCES INC.

“Najla Guthrie”

Najla Guthrie, CEO

For further information, please contact:

Nick Kuzyk, Investor Relations

Tel: 1-844-746-6351

Email: ir@wellbeingdigital.co

Web: www.wellbeingdigital.co

Twitter: @Wellbeing_IR

Notice Regarding Forward-Looking Information:

This news release contains forward-looking statements including but not limited to statements regarding the Company’s business, assets or investments, as well other statements that are not historical facts. Readers are cautioned not to place undue reliance on forward-looking statements, as there can be no assurance that the plans, intentions or expectations upon which they are based will occur. By their nature, forward-looking statements involve numerous assumptions, known and unknown risks and uncertainties, both general and specific, that contribute to the possibility that the predictions, forecasts, projections and other forward

looking statements will not occur, which may cause actual performance and results in future periods to differ materially from any estimates or projections of future performance or results expressed or implied by such forward-looking statements. These assumptions, risks and uncertainties include, among other things, the state of the economy in general and capital markets in particular, investor interest in the business and prospects of the Company.

The forward-looking statements contained in this news release are made as of the date of this news release. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable securities law. Additionally, the Company undertakes no obligation to comment on the expectations of, or statements made, by third parties in respect of the matters discussed above.

ENDNOTES

  1. “Chronic pain: The Canadian Armed Forces members and Veterans mental health follow-up survey”, Journal of Military, Veteran and Family Health, accessed on April 19, 2022, https://jmvfh.utpjournals.press/doi/full/10.3138/jmvfh-2021-

0051#:~:text=Veterans%20appear%20to%20be%20particularly,than%20in%20the%20general% 20population.&text=Specifically%2C%20recent%20studies%20of%20CAF,between%2041%25 %20and%2064%25.