PharmAla Biotech adds David Purcell as Director of Sales

Purcell to Accelerate PharmAla's GMP MDMA Manufacturing and Sales Business

VANCOUVER, BC, March 14, 2022 /CNW/ - In order to better serve its clinical trial customers, PharmAla Biotech Holdings Inc. (CSE: MDMA) is pleased to announce the hiring of Mr. David Purcell as Director of Sales. As a seasoned executive with exceptional business development and clinical trial expertise, Mr. Purcell will be bringing the experience and knowledge garnered over two decades of business and product development in both the private and public sectors to PharmAla. The decision to add David Purcell to the team aligns with the company's continuous expansion to ensure better service delivery to clients.

"PharmAla is currently the only company in North America which has completed a full GMP value chain for MDMA. We're proud to be supplying scientific researchers globally," said Nick Kadysh, PharmAla's CEO. "David will be 100% focused on our customers. In his role as Director of Sales, David will not only grow our customer base, but develop enduring partnerships with institutions, clinical researchers, and our customers from the private sector."

Prior to joining the team, David was the Chief Commercial Officer of Shelter Cannabis, where he oversaw the Business Development, Sales, Marketing, and Client Care teams, and directed the successful expansion of select cannabis products to new markets throughout Canada. He also led the expansion of the Cannabis Career Training program at Kwantlen Polytechnic University by developing new programs, facilitating the expansion of lab, extraction and testing facilities, and built partnerships with key Canadian and international institutions and industry partners, which built a scalable network of educators for National and International markets.

"I'm excited to join PharmAla at this critical moment in its development," added David Purcell, incoming Director of Sales. "Supplying clinical-grade MDMA to trials globally is not just about the company's bottom line – it's also about ensuring that critical medical research gets done. I'm excited to contributed to that goal."

For more information, please visit www.PharmAla.ca, where you can sign up to receive regular news updates.

About PharmAla

PharmAla Biotech Holdings Inc. (CSE: MDMA) is a biotechnology company focused on the research, development, and manufacturing of MDXX class molecules, including MDMA. PharmAla was founded with a dual focus: alleviating the global backlog of generic, clinical-grade MDMA to enable clinical trials, and to develop novel drugs in the same class. PharmAla is a "regulatory first" organization, formed under the principle that true success in the psychedelics industry will only be achieved through excellent relationships with regulators. Our team of dedicated professionals includes regulatory experts, scientists, and biomanufacturing professionals. PharmAla has built what it believes to be North America's first cGMP MDMA value chain, encompassing GMP manufacturing of Active Pharmaceutical Ingredient (API), and drug product formulation. PharmAla's research and development unit has also begun preclinical research into two patented Novel Chemical Entities (NCEs) based on MDXX class molecules, with proof-of-concept research currently ongoing at the University of Arkansas School for Medical Sciences in the United States and at InterVivo Solutions in Canada. For more information, visit www.PharmAla.ca.

Neither the Canadian Securities Exchange nor its Regulation Services Provider have reviewed or accept responsibility for the adequacy or accuracy of this release.

Cautionary Statement

This press release contains 'forward-looking information' within the meaning of applicable Canadian securities legislation. These statements relate to future events or future performance. The use of any of the words "could", "intend", "expect", "believe", "will", "projected", "estimated" and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on PharmAla's current belief or assumptions as to the outcome and timing of such future events. Forward-looking information is based on reasonable assumptions that have been made by PharmAla at the date of the information and is subject to known and unknown risks, uncertainties, and other factors that may cause actual results or events to differ materially from those anticipated in the forward-looking information. The forward-looking information contained in this press release is made as of the date hereof, and PharmAla is not obligated to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. Factors that could cause actual results to differ materially from those anticipated in these forward-looking statements are described under the caption "Risk Factors" in PharmAla's management's discussion and analysis which is available on PharmAla's profile at www.sedar.com.

This news release does not constitute an offer to sell or the solicitation of an offer to buy, and shall not constitute an offer, solicitation or sale in any state, province, territory or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state, province, territory or jurisdiction.

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