BetterLife Pharma faces civil claim from Steven Sangha

Vancouver, British Columbia--(Newsfile Corp. - October 9, 2026) - BetterLife Pharma Inc. (CSE: BETR) (OTCQB: BETRF) (FSE: NPAU) ("BetterLife" or the "Company"), today issued a statement regarding a Notice of Civil Claim ("Claim") filed against the Company by Steven Sangha, an independent director of BetterLife, in the Supreme Court of British Columbia on October 8, 2026.

As disclosed in the Company's unaudited interim financial statements and management's discussion and analysis for July 2026, filed on SEDAR+ on September 29, 2026, a dispute arose between the Company and Dr. Sangha regarding the repayment of the principal amount of a convertible debenture issued to Dr. Sangha in June 2026. At the time of those filings, the parties were seeking to resolve the matter amicably.

The Claim seeks an order requiring the Company to convert the convertible debenture into 33,333,333 common shares and 33,333,333 share purchase warrants of the Company. BetterLife intends to vigorously defend its position through all appropriate channels.

About BetterLife Pharma

BetterLife Pharma Inc. is an emerging biotechnology company primarily focused on developing and commercializing BETR-001 to treat various neurological disorders. BETR-001 is a non-hallucinogenic derivative of 2-bromo-lysergic acid diethylamide (2-Br-LSD) in development for the preventive treatment of chronic cluster headache and chronic migraine. The Company holds a granted U.S. composition-of-matter patent covering BETR-001. BETR-001 is an investigational product and has not been approved by any regulatory authority.

BetterLife also owns a drug candidate for the treatment of viral infections and is in the process of seeking strategic alternatives for further development.

For further information, please visit BetterLife Pharma.

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