Cancellation of Stock Options

929 Mainland Street

Vancouver, BC V6B 1S3

Phone

Fax

(604) 928-8913

(604) 628-0129

Email [email protected]

Website www.lexston.ca

For Immediate Release

Lexston Announces Non-Brokered Unit Private Placement

Vancouver, British Columbia, June 3, 2022 . Lexston Life Sciences Corp. (the “Company”) (CSE: LEXT)

(OTCQB: LEXTF) announces that it has cancelled an aggregate of 796,000 incentive stock options (the

“Cancelled Options”) previously held by certain directors, officers, employees, and consultants of the

Company. The Cancelled Options were comprised of the following:

Number of Cancelled

Options Original Date of Grant Expiry Date Exercise Price

400,000 January 18, 2021 January 18, 2026 $0.50

340,000 July 5, 2021 July 5, 2026 $0.875

56,000 September 8, 2021 September 8, 2026 $0.90

On Behalf of the Board of Directors

LEXSTON LIFE SCIENCES CORP.

Jagdip Bal Chief Executive Officer

Telephone: (604) 928-8913

The Canadian Securities Exchange has not reviewed and does not accept responsibility for the adequacy

or accuracy of the content of this news release.