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Field Trip Health Ltd. Obtains Conditional Approval to List on Nasdaq Under the Symbol “FTRP”

TORONTO, July 23, 2021 (GLOBE NEWSWIRE) — Field Trip Health Ltd. (TSX: FTRP; FTRP.WT; OTCQX: FTRPF) (“Field Trip” or the “Company”), a global leader in the development and delivery of psychedelic therapies, announced today that it has received conditional approval from The NASDAQ Stock Market LLC (“NASDAQ”) to list its issued and outstanding common shares on the NASDAQ Global Select Market. Final approval of the listing is subject to the Company fulfilling any remaining conditions as required by NASDAQ. The Company expects to satisfy all of the requirements and will issue a statement once a trading date has been confirmed by NASDAQ. The Company’s common stock will continue to trade in Canada on the TSX Exchange under its current symbol FTRP; and until the NASDAQ listing, in the U.S. on the OTCQX under its current symbol, FTRPF. Concurrent with the listing of Field Trip’s common shares on NASDAQ, they will cease to be quoted on the OTCQX.

“The anticipated listing of our stock on the Nasdaq is a key milestone in our evolution as a publicly-traded company,” said Joseph del Moral, Field Trip’s CEO. “We believe this anticipated listing will improve liquidity by enabling more investors to participate in our growth, and ultimately enhance long-term shareholder value. This is a critical time for us to increase our visibility in the marketplace, as we continue our work building a world-class and disruptive company at the forefront of the psychedelics industry.”

Mujeeb Jafferi, Field Trip’s COO added, “Psychedelics are experiencing a once-in-a-lifetime renaissance, as evidenced by the increasing support the industry is garnering from scientists, regulators and investors alike. We are proud to have established a leadership position in the industry at this exciting time and remain laser-focused on our drug development program advancing work on FT-104, our next generation psychedelic molecule, and the continued rollout of our Field Trip Health clinics business, which is bringing much-needed psychedelic therapies to those in need.”

The Company’s listing on NASDAQ remains subject to satisfaction of all applicable listing and regulatory requirements, including, but not limited to, the declaration of effectiveness of the Company’s Form 40-F Registration Statement registering the Common Shares with the United States Securities and Exchange Commission (SEC). The Company has already completed the process to ensure its Shares are eligible for electronic clearing and settlement through the Depository Trust Company (DTC).

About Field Trip Health Ltd.

Field Trip is a global leader in the development and delivery of psychedelic therapies. With our Field Trip Discovery division leading the development of the next generation of psychedelic molecules and conducting advanced research on plant-based psychedelics and our Field Trip Health division building centers for psychedelic therapies opening across North America and Europe along with the digital and technological tools that will enable massive scale, we help people in need with a simple, evidence-based way to heal and heighten engagement with the world.

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For further information, contact Ronan Levy, Executive Chairman and a Director at Field Trip, at 1 (833) 833-1967.

Cautionary Note Regarding Forward-Looking Information.

This release includes forward-looking information within the meaning of Canadian securities laws regarding Field Trip and its business. Often but not always, forward-looking information can be identified by the use of words such as “expect”, “intends”, “anticipated”, “believes” or variations (including negative variations) of such words and phrases, or state that certain actions, events or results “may”, “could”, “would” or “will” be taken, occur or be achieved. Such statements are based on the current expectations and views of future events of the management of Field Trip, and are based on assumptions and subject to risks and uncertainties. Although the management of Field Trip believes that the assumptions underlying these statements are reasonable, they may prove to be incorrect. The forward-looking events and circumstances discussed in this release may not occur and could differ materially as a result of known and unknown risk factors and uncertainties affecting the companies, including risks regarding the SEC’s declaration of effectiveness of the registration statement and the related listing of our common shares on NASDAQ, the timing and results of its research and development programs, approval of phase 1 human trials, if any, the risk that future clinical studies may not proceed as expected or may produce unfavorable results, the opening of additional clinics, the COVID-19 epidemic, the medical clinic industry, market conditions, economic factors, management’s ability to manage and to operate the business and the equity markets generally. Although Field Trip has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. Accordingly, readers should not place undue reliance on any forward-looking statements or information. No forward-looking statement can be guaranteed. Except as required by applicable securities laws, forward-looking statements speak only as of the date on which they are made and Field Trip does not undertake any obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise.Neither the Toronto Stock Exchange, nor its Regulation Services Provider, nor the OTC Markets have approved the contents of this release or accept responsibility for the adequacy or accuracy of this release.