Honokiol

VANCOUVER, British Columbia, May 22, 2025 (GLOBE NEWSWIRE) -- BetterLife Pharma Inc. (“BetterLife” or the “Company”) (CSE: BETR / OTCQB : BETRF / FRA: NPAU), an emerging biotech company focused on the development of BETR-001, a non-hallucinogenic neuroplastogen in the treatment of psychiatric and neurological disorders, is issuing the following press release in response to British Columbia Securities Commission’s (“BCSC”) May 21, 2025 news release. BetterLife announced on July 16, 2024, that it had amended its past Management Information Circulars (“MIC”) to correct disclosures of beneficial ownership by its Chief Executive Officer, Dr. Ahmad Doroudian. The July 16, 2024, press release corrected Mr. Doroudian’s beneficial ownership as follows: Dates of MIC andRelated RecordDatesSection in MICAmount of BeneficialOwnership andPercentage of Class (ifapplicable) asDisclosed in MICAmended Amount ofBeneficial Ownershipand Percentage ofClass (if applicable)February 28 andFebruary 10, 2023Proposal No. 2 – Election ofDirectors5,506,367 common5,863,786 common November 23 andNovember 5, 2021Proposal No. 2 – Election ofDirectors5,155,162 common5,529,887 common November 20 andNovember 9, 2020Voting Securities andPrincipal Holders of VotingSecurities5,155,162 common13.9%5,251,637 common14.2% February 15 andFebruary 13, 2019Principal Stockholders andSecurity Ownership ofManagement9,161,929 common9.455%21,330,518 common22.01% Since early 2023, through direct investment of $675,000 and settlement of his annual salary with BetterLife shares, Dr. Doroudian has increased his ownership from approximately 5.8 million shares to 16 million shares. “I am disappointed by the recent BCSC penalty, but extremely proud of my contributions to BetterLife and the Company’s achievements thus far. I am truly excited about the prospects of BetterLife and its lead asset BETR-001,” said Dr. Doroudian. About BetterLife Pharma BetterLife Pharma Inc. is an emerging biotechnology company primarily focused on developing and commercializing two compounds, BETR-001 and BETR-002, to treat neuro-psychiatric and neurological disorders. BETR-001, which is in preclinical and IND-enabling studies, is a non-hallucinogenic neuroplastogen. BETR-001 is a non-controlled substance. BETR-001 will be developed for the treatment of various psychiatric and neurological disorders. BETR-001 pending patent, for composition and method of use, covers treatment of major depressive disorder, anxiety disorder and neuropathic pain and other neuro-psychiatric and neurological disorders. BETR-002, which is in preclinical and IND-enabling studies, is based on honokiol, the active anxiolytic ingredient of magnolia bark. BetterLife’s pending method of use and formulations patent covers treatment of anxiety-related disorders including benzodiazepine dependency. BetterLife also owns a drug candidate for the treatment of viral infections and is in the process of seeking strategic alternatives for further development. For further information, please visit BetterLife Pharma. ContactDavid Melles, Investor Relations Manager Email: David.Melles@blifepharma.comPhone: 1-778-887-1928 Cautionary Note Regarding Forward-Looking Statements No securities exchange has reviewed nor accepts responsibility for the adequacy or accuracy of the content of this news release. This news release contains forward-looking statements relating to product development, licensing, commercialization and regulatory compliance issues 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 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 include the failure to satisfy the conditions of the relevant securities exchange(s) and other risks detailed from time to time in the filings made by the Company with securities regulations. The reader is cautioned that assumptions used in the preparation of any forward-looking information 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. The reader is cautioned not to place undue reliance on any forward-looking information. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. 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 as of the date of this news release and the Company will update or revise publicly any of the included forward-looking statements as expressly required by applicable law.