NeonMind Biosciences Inc. announced that has made changes to its Management, Board of Directors, and Advisory Board to support the Company's strategic plans. Effective May 30, 2022, Rob Tessarolo has been appointed as Chairman of the Board of NeonMind and has resigned from his role as President. Ms. White continues as a member of the Board of Directors.

Also on May 30, 2022, Kari Richardson and Jeff B Smith resigned as Directors of the Board of Directors. Kari Richardson has been appointed to serve on the Company's advisory board. Cole Drezdoff and Rob Tessarolo have been appointed to the Company's Board of Directors to fill the vacancies.

The Company's Board of Directors now consists of Rob Tessarolo, Penny White, and Cole Drezdoff, and each of them is a member of the Audit Committee, with Rob Tessarolo appointed as Audit Committee Chair. Ms. White continues as a member of the Board of Directors. Robert Tessarolo has 26 years of experience in the pharmaceutical industry.

Most recently, he held the position of President and Chief Executive Officer of NeonMind from January 2021 to May 2022. Prior to that, he acted as President and Chief Executive Officer of Mind Medicine (Mindmed) Inc., a psychedelic drug discovery and drug development company now traded on the NEO exchange, from September 2019 to January 2020. Prior, Mr. Tessarolo was President and Chief Executive Officer of Cipher Pharmaceuticals Inc., a diversified specialty pharmaceutical company listed on the Toronto Stock Exchange.

Mr. Tessarolo has extensive strategic experience and an impressive operational record of scaling high growth organizations in the pharmaceutical industry through product innovation and M&A. Cipher Pharmaceuticals Inc., which focuses on acquisitions, inlicensing, and selective investments in drug development, under his leadership, was restored to positive EBITDA with the execution of seven business development transactions in less than 18 months. He was the first employee of Watson Pharmaceuticals in Canada. Under his leadership revenue grew from zero to $190 million and he led the Canadian integration of major M&A transactions including Watson integration of Warner Chilcott (~$5 billion global acquisition), Forest Laboratories (~$28 billion global acquisition) and Allergan (~$66 billion global acquisition) in less than 18 months.

He has secured tens of millions in financing and hundreds of millions in revenue for companies under his leadership. Cole Drezdoff has been a Director and member of the Audit Committee of Better Plant Sciences Inc. since July 2020. He recently completed four years of fulltime accounting and marketing courses at Toronto Metropolitan University at the Ted Rogers School of Management.

Mr. Drezdoff developed experience over the past five years as a consultant in social media, sales, investor relations and business development.