Psych Capital PLC - Board Changes and Shortwave Pharma Completion

FOR IMMEDIATE RELEASE

PSYCH CAPITAL PLC

("Psych", "Psych Capital", or "the Company")

Psych Capital Plc Announces Completion of 100% Acquisition of Shortwave Pharma with focus now on Clinical Development to Address Growing Market for Eating Disorders

Board Changes

London, 7 November 2023 - Psych Capital Plc, a leading global investment firm specialising in the healthcare sector, is pleased to announce the completion of its acquisition of life science company Shortwave Pharma Inc. ("Shortwave Pharma").

Shortwave Pharma is developing breakthrough therapies to address unmet medical needs in mental health, particularly in the field of eating disorders.

Shortwave Pharma is developing a transformative clinical solution for anorexia nervosa, the most fatal eating disorder, and a complex and often underserved area of healthcare. The Company has developed a novel delivery method and drug combination with an expanded mechanism of action specifically designed to address the requirements of this vulnerable population.

William Potts, Chief Investment Officer of Psych Capital Plc, emphasised the importance of this acquisition, stating: "Shortwave Pharma has the potential to positively impact millions of patients all over the world who have very serious unmet needs and we're thrilled to start a very exciting journey together."

Incoming CEO, Rivki Stern said: "With the team at Psych Capital, we have found the right partners to rapidly advance our clinical programmes, develop our innovative IP and progress towards finding a better solution for eating disorders and mental health."

The acquisition of Shortwave Pharma by Psych Capital Plc positions the combined entity as a leading player in the field of eating disorder treatments.

Under the terms of the Acquisition, CEO of Shortwave Pharma, Rivki Stern Youdkevich will now join Psych Capital as the new CEO and board member along with Roy Kait who will be joining as Non-executive Director. The information required pursuant to Rule 4.9 of the Aquis Growth Market Access Rulebook, has been disclosed in the announcement of 19 June 2023, in respect of Rivki Stern's appointment.

Roy has over 18 years of entrepreneurial, corporate finance and strategy experience working in Israel, Europe and LATAM markets. Roy serves as Managing Partner of Mindly Capital, a Canadian investment company investing in Israeli technology companies, prior to which Mr. Kait served as head of strategy and M&A at IMC (NASDAQ: IMCC, CSE: IMCC) with total fundraising and M&A activity of over $180m. He served as director of Israel operation in MSW Capital a Rio based investment boutique and previously as senior consultant at Israel KPMG corporate finance.

The board would also like to announce the immediate resignation of Non-Executive Chairman, Joseph Colliver. The Company would like to thank Joseph for his significant contribution to Psych Capital since joining the company.

Further information on Roy Kait (born 18 January 1976):

Except as set out above, there is no further information regarding Roy Kait, that is required to be disclosed pursuant to Rule 4.9 of the AQSE Growth Market Access Rulebook.

Upon the issue of the initial consideration shares, Roy Kait will hold 7,308,830 Ordinary Shares of the Company, representing 2.0% of the enlarged issued share capital, and no options in the Company.

Total Voting Rights

Following the issue of the 71,170,132 new Ordinary Shares pursuant to the initial consideration (further information in announcement 19 June 2023), the Company will have 361,203,467 Ordinary Shares in issue, which also represents the total number of voting rights in the Company. The Company does not hold any ordinary shares in treasury. This figure should be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest.

It is expected the Consideration Shares will be admitted to the Aquis Growth Market on or about 13 November 2023.

Lock-In Agreements

The 71,170,132 consideration shares are subject to a 12-month lock-In Agreement from 7 November 2023.

About Psych Capital Plc

Psych Capital Plc identifies, funds and aims to support the building of leading companies across three core pillars: next-gen drug development, integrated therapeutics and digital and data ancillary services. Its mission is to support and operate a new wave of scientific innovations that challenge the status quo and revolutionise how society deals with mental health conditions.

About Shortwave Pharma:

Short Wave Pharma Inc. is an Israeli-based biopharmaceutical company developing novel formulations of psilocybin and additional APIs, as well as customised delivery methods, to effect significant therapeutic benefits for patients suffering from mental health disorders, with an initial focus on eating disorders. The Company is conducting pre-clinical studies related to its anorexia nervosa product comprised of a novel formulation and a buccal film delivery system and plans to be ready for phase I/IIa trials in Q1 2024. Shortwave's leadership team combines years of experience in drug development and clinical research, accelerated regulatory pathways and pharmaceutical industry expertise. By leveraging advanced technologies and a commitment to scientific excellence, Shortwave Pharma aims to make a lasting impact on global mental healthcare.

The directors of the Company accept responsibility for the contents of this announcement.

Enquiries:

Company:

William Potts: info@psych.capital | +442038387621

Peterhouse Capital Limited:

Corporate Adviser:

Guy Miller /Narisha Ragoonanthun: + 44 (0) 20 7469 0930

Corporate Broker

Lucy Williams: +44 (0) 20 7469 0930

Duncan Vasey: +44 (0) 20 7220 9797 (Direct)