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VANCOUVER, British Columbia, July 29, 2022 (GLOBE NEWSWIRE) — HAVN Life Sciences Inc. (CSE: HAVN) (OTC: HAVLF) (ESF: 5NP) (the “Company” or “HAVN Life”), a biotechnology company that pursues standardized extraction of psychoactive compounds and development of natural health products, is pleased to announce that it will complete a consolidation (“Consolidation”) of its issued and outstanding common shares on the basis of one (1) post-consolidation common share for every thirty (30) pre-consolidation common shares. No fractional shares will be issued following the Consolidation. Fractional interests of 0.5 or more will be rounded up to the next whole number of Common Shares and fractional interests of less than 0.5 will be rounded down to the next whole number of Common Shares. Following the consolidation, the outstanding common shares of the Company will be reduced to 5,109,665.

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The common shares will begin trading on a consolidated basis and with a new CUSIP number on August 3, 2022.‎

The Company’s name and trade symbol will not change.‎

A Letter of Transmittal has been mailed to registered shareholders and registered shareholders will be required to deposit their share certificate(s), together with the completed Letter of Transmittal, with Odyssey Trust Company , the registrar and transfer agent of the Company. Non-registered shareholders holding Common Shares through an intermediary (an investment dealer, broker, bank or financial institution) should be aware that the intermediary may have different procedures for handling the consolidation than those that will be put in place by the Company. for registered shareholders. If Shareholders hold their Common Shares through intermediaries and have any questions in this regard, they are encouraged to contact their intermediaries.

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Outstanding stock options and stock warrants will also be adjusted for the consolidation ratio and respective exercise prices of stock options and stock options in prices will be adjusted accordingly.

The decision to carry out the Consolidation was taken by the Company’s Board of Directors after careful consideration of a number of factors, including the significant decline in the Company’s share price over the past few months, the significant market values ​​of many other companies operating in the psychedelic sector, and the related challenges that companies in the sector face in securing financings, particularly equity financings. The Company believes that the completion of the Consolidation will be beneficial to the Company as it should, among other things, provide the Company with greater flexibility to attract potential financing.

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On behalf of the Board of Directors
Tim Moore
Chief executive officer

About HAVN Life Sciences Inc.

HAVN Life Sciences is a biotechnology company that pursues the standardized extraction of psychedelic compounds for the creation of APIs, the development of natural health products and innovative therapies to support brain health and enhance the capacities of the mind.

Through its research division, HAVN Labs, the company has developed an end-to-end supply chain of GMP naturally occurring psychedelic compounds for research that will define the future of modern medicine. With its new line of natural health products, HAVN Life offers a full line of high-quality mushroom and herbal extracts that help boost immune function, reduce inflammation, and support a healthy lifestyle.

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Buy our products and learn more about yourhavnlife.comand follow us on Facebook, Twitter, instagram and Youtube.

Investor Relations: [email protected]
Media: [email protected]

Forward-Looking Information: This press release contains “forward-looking information” within the meaning of applicable securities laws relating to statements regarding the Company’s subscription agreement, business, products and future business. Although the Company believes that the expectations reflected in the forward-looking information are reasonable, there can be no assurance that such expectations will prove to be correct. Readers are cautioned not to place undue reliance on forward-looking information. These forward-looking statements are subject to risks and uncertainties that may cause actual results, performance and developments to differ materially from those contemplated by these statements depending on, among other things: risks that the anticipated benefits of the Consolidation do not materialize as planned, or at all; the risk that the Company’s products and plan differ from those disclosed in this press release; and the venture company may not be able to carry out its business plans as planned. Except as required by law, the Company expressly disclaims any obligation and does not intend to update any forward-looking statements or forward-looking information contained in this press release. Although the Company believes that the expectations reflected in the forward-looking information are reasonable, there can be no assurance that such expectations will prove to be correct. The statements contained in this press release are made as of the date of this press release.

CSE has not reviewed, approved or disapproved of the contents of this press release.



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