FTRP Field Trip Health Ltd

Field Trip Health Ltd. (CSE: FTRP, OTCBB: FTRPF) ("Field Trip"), a global leader in the development and delivery of technology-enabled psychedelic therapies, announced today that it has entered into a lease and plans to open a Field Trip Health Center in Amsterdam, Netherlands. Located at Piet Heinkade 55 overlooking the IJhaven River, the 665 sqm (7158 sqft) Amsterdam location will be the first Field Trip Health center focused on therapeutic use of psychedelics using legal truffles. Field Trip expects to begin accepting people interested in participating in its truffle programs in December 2020, and the Netherlands location of Field Trip Health is expected to open in March 2021.

"Globally, we are in the midst of a mental health crisis, and The Netherlands is no exception. The prevalence of mental health issues is at all time highs and is being exacerbated by the COVID-19 pandemic. It is estimated that 30% of the Dutch population is experiencing some form of stress-related mental health challenge due to the pandemic,” said Prof. Dr. Jan J.L. Derksen, an advisor to Field Trip in The Netherlands. “Whereas big pharma has fallen short in terms of driving breakthroughs and innovation in mental health, innovative companies like Field Trip are filling the gap. With its truffle-based program embedded in science, therapy and guidance, Field Trip is advancing treatment options with healing psychedelic experiences, while at the same time investing heavily in its own R&D to advance new and exciting molecules to treat mental health issues."

Studies from institutions such as Johns Hopkins, New York University and Imperial College London have demonstrated that psilocybin therapy, when performed by qualified professionals, can have profoundly positive effects on treating mental and emotional health challenges such as depression, anxiety, end of life distress and addiction. Similar studies have demonstrated that psychedelic therapies may also increase a person’s creativity, empathy, openness to others’ viewpoints and regard for the environment and planet.

“People from around the world have already travelled to The Netherlands to visit retreats providing ceremonial psychedelic experiences with truffles containing psilocybin,” said Onur Yildirim, PhD, Field Trip’s Director of Clinical Operations in The Netherlands. “But in order for these treatments to create the most significant impact and generate broader medical acceptance, they need to be professionalized. And that’s exactly what we are doing with our Field Trip Health Center in Amsterdam. All of our treatment programs with truffles will be administered by accredited and licensed therapists and psychologists and overseen by a licensed psychiatrist to provide the best possible experiences and effects on positive measures of health.”

The Field Trip Health Netherlands location will offer a variety of therapeutic programs using truffles containing psilocybin. Based on the desired experience, the center will offer several program options for individuals as well as couples.

The planned opening of The Netherlands location follows on the announcement in early November of Field Trip’s plans to establish operations in the State of Oregon following the passage of Measure 109 which will effectively create the first legal market for psilocybin therapies in North America.

“An essential part of our strategy is to constantly learn and innovate with all forms of legal psychedelic therapies,” said Ronan Levy, Field Trip’s Executive Chairman. “With this new location, we are going to leverage the experience, data and know-how developed by our clinical staff in our ketamine-enhanced therapy locations in Toronto, New York, Los Angeles and Chicago. We will translate that knowledge-base to the programs being offered in our Field Trip Health Center in Amsterdam. We will then use the collective experience to establish protocols for Oregon and beyond as new psychedelic therapies get legalized and approved.”

About Field Trip Health Ltd.

Field Trip is the global leader in the development and delivery of psychedelic therapies. With our Field Trip Discovery division leading the development of the next generation of psychedelic molecules and conducting advanced research on plant-based psychedelics, including psilocybin-producing fungi, and our Field Trip Health division building centers for psychedelic therapies opening across North America and Europe, along with the digital and technological tools that will enable massive scale, we help people, from those in treatment to those seeking accelerated personal growth, with a simple, evidence-based way to heal and heighten engagement with the world.

Learn more at https://www.fieldtriphealth.nl, https://www.fieldtriphealth.com and https://www.meetfieldtrip.com.

Follow us on Twitter and Instagram: @fieldtriphealth

People interested in learning more about Field Trip Health’s Netherlands location and its truffle programs can do so by email (info.nl@fieldtriphealth.com) or online at www.fieldtriphealth.nl.

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For further information, contact Ronan Levy, Executive Chairman and a Director at Field Trip, at 1 (833) 833-1967.

Cautionary Note Regarding Forward-Looking Information. This release includes forward-looking information within the meaning of Canadian securities laws regarding Field Trip and its business, which may include, but are not limited to, statements with respect to the listing of the common shares of Field Trip on the Canadian Securities Exchange, and the timing of such events. Often but not always, forward-looking information can be identified by the use of words such as "expect", "intends", "anticipated", "believes" or variations (including negative variations) of such words and phrases, or state that certain actions, events or results "may", "could", "would" or "will" be taken, occur or be achieved. Such statements are based on the current expectations and views of future events of the management of Field Trip, and are based on assumptions and subject to risks and uncertainties. Although the management of Field Trip believes that the assumptions underlying these statements are reasonable, they may prove to be incorrect. The forward-looking events and circumstances discussed in this release may not occur and could differ materially as a result of known and unknown risk factors and uncertainties affecting the companies, including risks regarding the COVID-19 epidemic, the medical clinic industry, market conditions, economic factors, management's ability to manage and to operate the business and the equity markets generally. Although Field Trip has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. Accordingly, readers should not place undue reliance on any forward-looking statements or information. No forward-looking statement can be guaranteed. Except as required by applicable securities laws, forward-looking statements speak only as of the date on which they are made and Field Trip does not undertake any obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise.

The CSE has neither approved nor disapproved the contents of this news release.

Media contacts:Paige TatulliAutumn Communications212-206-9780paiget@autumncommunications.com / fieldtrip@autumncommunications.com

Investor contacts:Elizabeth BarkerKCSA Strategic Communications212-896-1203ebarker@kcsa.com

SOURCE Field Trip Health Ltd.