Investor Alert

April 11, 2022, 9:00 a.m. EDT

Lexston Life Sciences funds whole genome sequencing project for Psilocybe allenii, an understudied psychedelic mushroom native to the Pacific Northwest

Apr 11, 2022 (TheNewswire.ca via COMTEX) -- (via TheNewswire)

Vancouver, British Columbia - TheNewswire - April 11, 2022 - Lexston Life Sciences Corp. (the "Company" or "Lexston") (CSE:LEXT) (OTC:LEXTF) a biotechnology company focused on the development of analytical services and production of botanically derived psychedelics, is pleased to announce that, on April 4, 2022, its wholly-owned subsidiary, Egret Bioscience Ltd., sponsored the whole genome sequencing, open access archiving and biobanking of the Pacific Northwest wood-rotting psychedelic mushroom, Psilocybe allenii.

The "Allenii project" is a joint effort with the Entheome Foundation to sequence this species of psychedelic mushroom which was identified by modern science less than a decade ago in the Pacific Northwest ( https://www.cabdirect.org/cabdirect/abstract/20133089027 ). Psilocybe allenii is found on the Pacific Northwest Coast ranging from northern California to British Columbia. It shares many morphological characteristics with other Psilocybe species, in particular P. cyanescens, and has the particularity of having a convex to plane cap that lacks the wavy margins of P. cyanescens (also known as "wavy caps"). The species is thought to contain both psilocybin and psilocin in concentrations of less than 1%.

"In addition to making the data open access for others to study, our team intends to utilise the sequence information to resolve the relationship with other Psilocybe mushrooms as well as to understand the biosynthetic differences between Psilocybe mushroom species and their chemical constituents. We have a particular interest in the expression of aeruginascin and bufotenine, minor tryptamines potentially involved in wood-lovers paralysis (WLP), an understudied phenomenon that has led some regulators to establish restrictions to the access of species other than P. cubensis." Stated Philippe Henry PhD, Director and Chief Science Officer of Lexston.

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Psilocybe allenii. USA, CA, Oakland, 5 January 2006. Peter G. Werner.

About the Entheome Foundation

The Entheogen Genome Project is an initiative partaken by the Entheome Foundation with the mission to preserve and understand all entheogenic flora, fauna and funga. As part of this endeavor, the Entheome Foundation collaborates with sponsors who provide the monetary resources for the procurement, genomic sequencing and biobanking of specific specimens, with the intention to make the information publicly accessible. The Entheome Foundation is an open-science platform for psychedelics research. www.entheome.org

About Lexston Life Sciences Corp.

Lexston Life Sciences Corp. is a Canadian biotechnology company providing cannabis testing and research services. Lexston has recently secured licensing under the exemptions prescribed by section 56 of the Controlled Drugs and Substances Act (Canada) to enable the expansion of its services into the psychedelic industry with an initial focus on the detection and quantification of psychedelic molecules in the lab and point of care. Lexston intends to develop and validate methods for standardized manufacturing of plant derived psychedelics in support of burgeoning trials in the field of mental health and wellness.

On Behalf of the Board of Directors


Jagdip Bal Chief Executive Officer

Telephone: (604) 928-8913

Forward-Looking Statements

This news release contains forward-looking statements and information within the meaning of applicable securities legislation. Often, but not always, forward-looking statements and information 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 state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved. Forward looking statements or information involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance, or achievements of LEXT to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements or information contained in this news release.

Risks, uncertainties, and other factors involved with forward-looking information could cause actual events, results, performance, prospects, and opportunities to differ materially from those expressed or implied by such forward-looking information. The Canadian Securities Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this news release.

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