BetterLife Announces Closing of a Private Placement

VANCOUVER, British Columbia, June 14, 2024 (GLOBE NEWSWIRE) — BetterLife Pharma Inc. (“BetterLife” or the “Company”) (CSE: BETR / OTCQB: BETRF / FRA: NPAU), an emerging biotech company focused on the development and commercialization of cutting-edge treatments for mental disorders, is pleased to announce that it has closed a non-brokered private placement, previously announced on May 3, 2024, pursuant to which the Company issued 5,300,000 units (“Units”) at a price of $0.10 per Unit for aggregate gross proceeds of $530,000 (the “Offering”). Each Unit is comprised of one common share and one warrant. Each warrant entitles the holder thereof to acquire one common share at an exercise price of $0.13 at any time up to 24 months from the closing of the Offering. The Units sold pursuant to the Offering will be subject to a four month hold period pursuant to applicable Canadian securities laws. Dr. Ahmad Doroudian, Chief Executive Officer of the Company, subscribed for a total of 500,000 Units under the Offering.