Lobe Sciences Announces Formation of Wholly Owned Subsidiary, Alera Pharma, Inc. Page 1

Lobe Sciences, Ltd (“Lobe Sciences” or the “Company”) (CSE: LOBE), (OTCQB: LOBEF)Alera Pharma, Inc., a biopharmaceutical company focused on developing products to treat diseases with unmet medical needs, today announced that it has established a wholly owned U.S. subsidiary called Alera Pharma, Inc. (Alera). Alera will be assigned intellectual property rights focused on the company’s neurological assets and its new chemical entity Psilocin Mucate.

Mr. Rick Goulburn has been appointed Chief Executive Officer of Alera. Dr. Fred D. Sancilio will serve as Chairman of the Board and will be joined on the Board by Dr. Harry Jacobson, Mr. Wesley Ramjeet and Mr. Goulburn. Alera will become the operating company within the Lobe Sciences group focused on neurology and will join Altemia, LLC as Lobe Sciences’ second operating subsidiary. It is expected that the Company’s Australian subsidiary, Lobe Sciences Australia Pty Ltd., will become a subsidiary of Alera. Mr. Ilan Hayman will join Alera’s executive management team.