Wellbeing Digital Sciences Inc. - KONEF STOCK NEWS

Wellbeing Digital Sciences Inc. (OTC: KONEF) announces the recruitment of participants for a pioneering clinical trial examining the effects of psilocybin on adults with fragile X syndrome (FXS). Conducted by its subsidiary KGK Sciences, the 28-day Phase IIA study is the first authorized by Health Canada allowing take-home psilocybin dosing. The study, set to treat its first participant in Q2 2023, aims to evaluate the safety and efficacy of Nova Mentis’ psilocybin drug (NM-1001) in a controlled environment, using advanced diagnostic technologies. Preliminary results are expected later this year, highlighting significant potential for psilocybin therapy in addressing unmet medical needs related to FXS.

Wellbeing Digital Sciences Inc. (KONEF, NMLSF) has announced that its subsidiary, KGK Sciences Inc., gained IRB approval in Canada to conduct a groundbreaking Phase IIA clinical trial. This study will test the efficacy of psilocybin on adults with fragile X syndrome (FXS), the leading genetic cause of autism spectrum disorder (ASD). The trial is part of a partnership with Nova Mentis Life Science Corp., aiming to assess psilocybin's impact on cognitive and behavioral symptoms. Patient recruitment is expected to begin this year. Notably, Health Canada has granted special permission for participants to take the drug home, marking a significant milestone in clinical research. This trial supports Nova's ongoing efforts to improve treatment options for FXS patients, following their FDA Orphan Drug designation received in 2021.

Wellbeing Digital Sciences Inc. (OTC: KONEF) has been issued a Failure-to-File Cease Trade Order (FFCTO) by the British Columbia Securities Commission due to its inability to file required financial documents, including interim and annual reports for 2022 and 2023. The Company attributes the delay to a change in accounting firms and the complexity of its operations. Wellbeing aims to resolve these issues and expects to file the necessary documents by approximately April 30, 2023. The FFCTO restricts trading of Wellbeing's securities across Canada, although certain securityholders may sell under specific conditions. There is no guarantee that the Company will remedy its filing issues in a timely fashion. As of now, Wellbeing is not undergoing insolvency proceedings and confirms no undisclosed material information exists.

Wellbeing Digital Sciences Inc. (NEO: MEDI, OTC: KONEF) has provided an update on its management cease trade order (MCTO) issued by the British Columbia Securities Commission on January 31, 2023. This MCTO relates to the pending filing of the Company's audited annual financial statements for the year ending October 31, 2022. The Company aims to finalize its Annual Filings by March 31, 2023, without any material changes since the Default Announcement. Trading of the Company’s shares continues for the general public, while the CEO and CFO are restricted from trading until the MCTO is revoked.

Wellbeing Digital Sciences Inc. (NEO: MEDI, OTC: KONEF) is set to participate in the Benzinga Psychedelic Capital Conference on April 13, 2023, in Miami, Florida. CEO Najla Guthrie will be featured on the 'Psychedelics 101' panel at 9:50 a.m. EST. This conference aims to educate investors on the psychedelics industry and offers networking opportunities with industry leaders. Wellbeing focuses on innovative mental healthcare solutions, including psychedelic medicine and digital therapeutics, backed by clinical research. For more information or to schedule meetings, interested parties can contact Natalie Dolphin at ndolphin@wellbeingdigital.co.

Wellbeing Digital Sciences Inc. (OTC: KONEF, NEO: MEDI) announced that CEO Najla Guthrie will join the Cantor Fitzgerald Psychedelic Clinics panel discussion on March 15, 2023, at 11:00 AM ET. The event, part of the "Weednesday with Pablo Series," highlights the Company's focus on evidence-based mental healthcare, particularly in psychedelic medicine and digital therapeutics. Wellbeing is committed to developing innovative clinical solutions, backed by research, through its network of clinics and contract research organization. For further inquiries, contact Natalie Dolphin at ndolphin@wellbeingdigital.co.