Lobe Sciences Clarifies Recent Promotional Activities at Request of OTC Markets

Vancouver, British Columbia--(Newsfile Corp. - July 2, 2021) - Lobe Sciences Ltd. (CSE: LOBE) (OTC Pink: GTSIF) ("Lobe" or the "Company") today announced that it became aware of certain promotional activities concerning its common stock on June 10, 2021. Issuer Services at OTC Markets Group (OTC Markets) notified the Company and supplied one (1) electronic newsletter (the "Newsletter") prepared by a third party - HotOtc as an example of such promotion. The Company was not aware of such Newsletter before receiving the copy from the OTC Markets.

The Company has no knowledge or opinion about whether the Newsletter affected trading activity. Specific claims in the Newsletter concerning the Company's stock and its upside are highly speculative and should be carefully evaluated based on the Company's latest filings on sedar.com^[1].

Based on the internal inquiry, neither the Company nor its management, directors, control persons, and any service providers, were involved, directly or indirectly, with the creation, distribution, or payment of the Newsletter, nor did they have notice of or editorial control over the content of the Newsletter.

To the best of the Company's knowledge, no other officers, directors, controlling shareholders, or existing third-party service providers have sold or purchased the Company's securities within the past 90 days. The Company routinely communicates with stockholders, potential investors, and investment analysts, and generates its own press releases. As such, the Company urges persons interested in the Company, whether or not they are currently stockholders of the Company, to review its filings at sedar.com and visit the Company's website and only to rely on information about the Company and about the industry sectors in which it operates that are released by the Company.

About Lobe Sciences Ltd.

Lobe Sciences is a life sciences company focused on psychedelic medicines. The Company, through collaborations with industry leading partners, is engaged in drug research and development using psychedelic compounds and the development of innovative devices and delivery mechanisms to improve mental health and wellness.

For further information please contact:

Lobe Sciences Ltd.Philip J Young, CEOinfo@lobesciences.com^[2]Tel: (949) 505-5623

THE CSE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ACCURACY OR ADEQUACY OF THIS RELEASE.

Disclaimer for Forward-Looking Statements

This news release contains forward-looking statements relating to the future operations of the Company and other statements that are not historical facts. Forward-looking statements are often identified by terms such as "will", "may", "should", "anticipate", "expects" and similar expressions. All statements other than statements of historical fact included in this release, including statements regarding the future plans and objectives of the Company, progression with nasal mist device engineering and commercialization, the pursuit of M&A initiatives, development of effective delivery methods and commercialization potential of the nasal mist device, research and development using NAC and psilocybin and growth of the business, are forward looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's expectations are risks detailed from time to time in the filings made by the Company with securities regulations. Readers are cautioned that assumptions used in the preparation of the forward-looking statements may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company, including changes to the regulatory environment; and that the current Board and management may not be able to attain the Company's corporate goals and objectives. As a result, the Company cannot guarantee that any forward-looking statement will materialize and the reader is cautioned not to place undue reliance on any forward-looking information. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made only as of the date of this news release and the Company does not intend to update any of the included forward-looking statements except as expressly required by applicable Canadian securities laws.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/89330^[3]

References

1. ^{^} sedar.com (www.newsfilecorp.com)
2. ^{^} info@lobesciences.com (www.newsfilecorp.com)
3. ^{^} https://www.newsfilecorp.com/release/89330 (www.newsfilecorp.com)