Filament cultivates 20th Psychedelic Mushroom Variety and Provides Propagation Update

Vancouver,  British  Columbia,  June  9,  2021 - Filament  Ventures  Corp.,  doing  business  as  Filament  Health  ("Filament"  or  the  "Company"),  an  exclusively-natural  psychedelic  drug  discovery and extraction technology company, today announced it has grown its 20th cultivar of  psilocybin-containing mushrooms at its GMP  facility in Metro Vancouver. Filament also shared  updates on its propagation research, including the discovery of a potent cultivar of psilocybin 

containing fungus. 

“We are excited  to  share  that we’ve  recently identified a  cultivar  that  contains  four  times  the  psilocybin  content  of  more  commonly-known  cultivars.  In  addition,  we  have  identified  eight  additional psychoactive alkaloids present within  fungal biomass, highlighting  the potential  for  developing proprietary extract formulations,” said Ryan Moss, Director of Research at Filament.  “Findings  such as  these emphasize  the  need  for  further  research  on  these  cultivars and  other  psychedelic  organisms,  especially  given  the  need  for  a  strictly  standardized  dose  in  clinical  settings. Filament is dedicated to providing safe and effective natural psychedelic extracts.” 

In  order  to  identify  the  highest-potency  cultivars,  Filament  has  grown  and  analyzed  twenty  varieties  of  psychoactive  mushrooms,  and has  75  further  cultivars  undergoing  screening. Filament is  currently  using three  high-content,  high-efficiency  primary  strains  for  production,  and will be entering one of the non-psilocybin compounds identified into a Phase a clinical trial in  partnership  with  the  TRpR  Program  at  UCSF.  Filament’s  in-house  operations  include  propagation,  extraction,  research,  and  manufacturing  using  its  patent-pending  technologies.  Current  production  at  the  Company’s  3,500  square  foot  facility  yields  the  equivalent  of  over  25,000 therapeutic doses of psilocybin per year. 

“Our research program infrastructure comprises a critical part of our strategic roadmap, and we  are delighted with the resulting progress in advancing the field of natural psychedelic research,”  said Filament CEO, Benjamin Lightburn. “Rather than developing synthetically-prepared versions  of natural compounds, we view nature as the most potent source for new and effective therapies.  Furthermore, we are encouraged by regulatory advancements such as Oregon Measure 109 and  California  Senate  Bill  519,  which  advance  non-pharmaceutical  psychedelic-assisted  therapy  where naturally-derived psychedelic products will likely be preferred.” 

These  natural  compounds  are  best  unlocked  through  rigorous  research  and  skilfully applied  extraction techniques. Filament is well-poised to tackle this challenge with a management team  that has decades of experience in natural extraction, purification, and standardization, as well as  patent-pending versions of these processes that it leans on to produce safe and consistent product  formulations. 

ABOUT FILAMENT HEALTH 

Filament  is  an  exclusively-natural psychedelic  drug  discovery  and  extraction  technology  company. Its mission is to see safe, approved, natural psychedelics in the hands of everyone who  needs them as soon as possible. Filament believes measurable and efficacious medicines will be  a  catalyst to  addressing  many  of  the  world’s  mental  health  problems  and  that  natural  psychedelics provide an optimal option for widespread adoption of these substances. Filament  engages  in  natural  extraction  technology  commercialization,  utilizing  its  intellectual  property  portfolio,  in-house  GMP  facility,  and  Health  Canada  psilocybin  Dealer’s  License.  Filament  is  headquartered in Vancouver, British Columbia. 

Learn more at www.filament.health and get the latest updates via Filament’s newsletter and   LinkedIn page. 

FORWARD LOOKING INFORMATION 

Certain  statements  and  information  contained  herein  may  constitute  “forward-looking  statements” and “forward-looking information,” respectively, under Canadian securities legislation.  Generally, forward-looking information can be identified by the use of forward-looking terminology  such  as,  “expect”,  “anticipate”, “continue”,  “estimate”,  “may”,  “will”,  “should”,  “believe”,  “intends”,  “forecast”,  “plans”,  “guidance”  and  similar  expressions  are  intended  to  identify  forward-looking  statements or information. The forward-looking statements are not historical facts, but reflect the  current expectations of management of Filament regarding future results or events and are based  on information currently available to them. Certain material factors and assumptions were applied  in  providing  these forward-looking  statements. The forward-looking  statements  discussed in  this  press release may include, but are not limited to, information concerning the number of therapeutic  doses of psilocybin  yielded from the Company’s facility and the impact of Oregon Measure 109 and  California  Senate  Bill  519,  including  the  impact  on    non-pharmaceutical  psychedelic-assisted  therapy. Forward-looking statements regarding the Company are based on the Company’s estimates  and are subject to known and unknown risks, uncertainties and other factors that may cause the  actual results, levels of activity, performance or achievements of Filament to be materially different  from  those  expressed  or  implied  by  such  forward-looking  statements  or  forward-looking  information, including capital expenditures and other costs. There can be no assurance that such  statements will prove to be accurate, as actual results and future events could differ materially from  those  anticipated  in  such  statements.  Accordingly,  readers  should  not  place  undue  reliance  on  forward-looking  statements  and  forward-looking  information.  Filament  will  not  update  any  forward-looking  statements  or  forward-looking  information  that  are  incorporated  by  reference  herein, except as required by applicable securities laws.