NEWS RELEASE

DR. ROGER MCINTYRE ANNOUNCES CHANGES TO THE BOARD OF CHAMPIGNON BRANDS INC.

Feb 4, 2021

VANCOUVER, BRITISH COLUMBIA, February 4, 2021 – Dr. Roger McIntyre, Chairman of the Board of Directors of Champignon Brands Inc. today announces changes to the Champignon Board of Directors (“Champignon” or the “Company”) (CSE: SHRM) (FWB: 496) (OTCQB: SHRMF).

Bill Wilkerson, LL. D. (Hon), appointed to the Board of Directors of Champignon on May 22, 2020, and elected Vice-Chair of the Board on September 14, 2020, after completing his six-month commitment to Champignon, has retired from the Board. “We thank Dr. Wilkerson for the guidance and the expertise that he brought to Champignon,” said Dr. Roger McIntyre. “His sage counsel has served us well and we appreciate his dedication and active participation in preparing Champignon for its successful future.”

Joining the Champignon Board is Olga M. Cwiek. Olga is an experienced and effective practitioner of good governance. She served as a senior television executive at CBC and CTV specializing in television program acquisitions, labour and performer contract negotiations and design/administration of human resources policies and practices including human rights protections and enforcement.

Upon leaving the broadcast industry, Ms. Cwiek turned to governance in the health sector, serving for more than a decade as a member of the Board of Directors of the Homewood which oversaw its subsidiaries including Homewood Health Centre, internationally recognized provider of mental health care. Ms. Cwiek served both as a member of the Finance and the HR and Governance Committees of the Board.

Dr. McIntyre continued, “We are very pleased to welcome Ms. Olga Cwiek to our Board. She is known for her focus on decision-making modes, governance systems and procedures, the role of board committees, written guidelines for ethics in management including conflicts of interests, harassment, confidentiality, budgeting and guidelines for future acquisitions. Champignon will be well-served with this expertise.”

Most recently Ms. Cwiek has served as a Chairperson of the Board of Directors and President of Port Hope’s Capitol Theatre For The Performing Arts, designated a National Historic Site during her tenure. In other governance roles Ms. Cwiek served on the board of Ontario Heart and Stroke Foundation and volunteered as HR adviser to Kid’s Help Phone.

Champignon Brands Inc. (https://braxiascientific.com) is a research-driven company specializing in breakthrough ketamine treatment for depression and other mental health conditions. The Company works closely with subsidiaries including AltMed Capital Corp. (“AltMed”). The Canadian Rapid Treatment Center of Excellence is wholly owned by AltMed.

ON BEHALF OF THE BOARD

Dr. Roger S. McIntyre

Dr. Roger S. McIntyre, Chairman & CEO 

FOR FURTHER INFORMATION PLEASE CONTACT: Champignon Brands Inc. (416) 762-2138

Email: [email protected] Website: www.champignonbrands.com

Media: Victoria Ollers, victoriaollers@braxiascientific.com,  416 822-2288

Call emergency medical services immediately if you believe you are experiencing a medical emergency. Do not rely on communication through the Champignon Brands website of the emails/telephone numbers above for urgent medical needs. Champignon Brands Inc. does not provide medical advice. If you have any specific medical questions or are seeking advice, please consult with your health care provider.

The CSE has not reviewed and does not accept responsibility for the accuracy or adequacy of this release.

Forward-looking Information Cautionary Statement

This news release contains forward-looking statements within the meaning of applicable securities laws. All statements that are not historical facts, future estimates, plans, programs, forecasts, projections, objectives, assumptions, expectations, or beliefs of future performance are “forward-looking statements.” Forward-looking statements can be identified by the use of words such as “plans”, “expects” or “does not expect”, “is expected”, “estimates”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results, events, or developments to be materially different from any future results, events or developments expressed or implied by such forward-looking statements. Such risks and uncertainties include, among others, the Company’s requirements for additional financing, and the effect of capital market conditions and other factors on capital availability, the Company’s limited operating history and lack of historical profits; competition; failure of treatments to provide the expected health benefits; unanticipated side effects; dependence on obtaining and maintaining regulatory approvals, including acquiring and renewing federal, provincial, state, municipal, local or other licenses; developments and changes in laws and regulations, including increased regulation of the Company’s industries and the capital markets; economic and financial conditions; volatility in the capital markets; engaging in activities that could be later determined to be illegal under domestic or international laws; failure to obtain the necessary shareholder, government or regulatory approvals, including that of the CSE; and failure to retain, secure and maintain key personnel and strategic partnerships including but not limited to executives, researchers, clinicians, customers and suppliers. These factors should be considered carefully, and readers are cautioned not to place undue reliance on such forward-looking statements. Although the Company has attempted to identify important risk factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other risk factors that cause actions, events or results to differ from those anticipated, estimated or intended. Additional information identifying risks and uncertainties that could affect financial results is contained in the Company’s filings with Canadian securities regulators, which are available at www.sedar.com. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in forward-looking statements. The Company has no obligation to update any forward-looking statement, even if new information becomes available.