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LEXT.CN ·

Lexston Life Sciences funds whole genome sequencing project for Psilocybe allenii, an understudied psychedelic mushroom native to the Pacific Northwest

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NEWS RELEASE

Lexston Life Sciences funds whole genome sequencing project for Psilocybe allenii, an understudied

psychedelic mushroom native to the Pacific Northwest

Vancouver, British Columbia, April 11, 2022. Lexston Life Sciences Corp. (the “Company” or “Lexston”)

(CSE: LEXT) (OTCQB: LEXTF) a biotechnology company focused on the development of analytical services

and production of botanically derived psychedelics , is pleased to announce that, on April 4, 2022, its

wholly-owned subsidiary, Egret Bioscience Ltd. , sponsored the whole genome sequencing , open access

archiving and biobanking of the Pacific Northwest wood-rotting psychedelic mushroom, Psilocybe allenii.

The “Allenii project” is a joint effort with the Entheome Foundation to sequence this species of

psychedelic mushroom which was identified by modern science less than a decade ago in the Pacific Nor

thwest (https://www.cabdirect.org/cabdirect/abstract/20133089027). Psilocybe allenii is found on the

Pacific Northwest Coast ranging from northern California to British Columbia. It shares many

morphological characteristics with other Psilocybe species, in particu lar P. cyanescens , and has the

particularity of having a convex to plane cap that lacks the wavy margins of P. cyanescens (also known as

“wavy caps”). The species is thought to contain both psilocybin and psilocin in concentrations of less than

1%.

“In addition to making the data open access for others to study, our team intends to utilise the sequence

information to resolve the relationship with other Psilocybe mushrooms as well as to understand the

biosynthetic differences between Psilocybe mushroom species and their chemical constituents. We have

a particular interest in the expression of aeruginascin and bufotenine, minor tryptamines potentially

involved in wood-lovers paralysis (WLP), an understudied phenomenon that has led some regulators to

establish restrictions to the access of species other than P. cubensis.” Stated Philippe Henry PhD, Director

and Chief Science Officer of Lexston.

Psilocybe allenii. USA, CA, Oakland, 5 January 2006. Peter G. Werner.

Page | 2

About the Entheome Foundation

The Entheogen Genome Project is an initiative partaken by the Entheome Foundation with the mission to

preserve and understand all entheogenic flora, fauna and funga. As part of this endeavor, the Entheome

Foundation collaborates with sponsors who provide t he monetary resources for the procurement,

genomic sequencing and biobanking of specific specimens, with the intention to make the information

publicly accessible. The Entheome Foundation is an open -science platform for psychedelics research.

www.entheome.org

About Lexston Life Sciences Corp.

Lexston Life Sciences Corp. is a Canadian biotechnology company providing cannabis testing and research

services. Lexston has recently secured licensing under the exemptions prescribed by section 56 of the

Controlled Drugs and Substances Act (Canada) to enable the expansion of its services into the psychedelic

industry with an initial focus on the detection and quantification of psychedelic molecules in the lab and

point of care. Lexston intends to develop and validate methods for standardized manufacturin g of plant

derived psychedelics in support of burgeoning trials in the field of mental health and wellness.

On Behalf of the Board of Directors

LEXSTON LIFE SCIENCES CORP.

Jagdip Bal Chief Executive Officer

Telephone: (604) 928-8913

Forward-Looking Statements

This news release contains forward-looking statements and information within the meaning of applicable

securities legislation. Often, but not always, forward-looking statements and information can be identified

by the use of words such as “plans”, “expects” or “does not expect”, “is expected”, “estimates”, “intends”,

“anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or state that

certain actions, events or results “may”, “could”, “would ”, “might” or “will” be taken, occur or be

achieved. Forward looking statements or information involve known and unknown risks, uncertainties

and other factors which may cause the actual results, performance, or achievements of LEXT to be

materially different from any future results, performance or achievements expressed or implied by the

forward-looking statements or information contained in this news release.

Risks, uncertainties , and other factors involved with forward -looking information could cause actual

events, results, performance, prospects, and opportunities to differ materially from those expressed or

implied by such forward -looking information. The Canadian Securities Exc hange has not reviewed and

does not accept responsibility for the adequacy or accuracy of the content of this news release.