On September 16, 2021, pursuant to the previously announced Amalgamation Agreement, dated May 24, 2021 (the ‘Amalgamation Agreement’), by and among Enveric Biosciences, Inc. 1306432 B.C. Unlimited Liability Company, an unlimited liability company existing under the laws of the Province of British Columbia and a wholly-owned subsidiary of Parent, 1306436 B.C. Ltd., a corporation existing under the laws of the Province of British Columbia and a wholly-owned subsidiary of HoldCo (‘Purchaser’), and MagicMed Industries Inc., a corporation existing under the laws of the Province of British Columbia (‘MagicMed’), Purchaser and MagicMed were amalgamated pursuant to section 269 of the British Columbia Business Corporations Act, upon the terms and conditions set forth in the Amalgamation Agreement, with the amalgamated corporation, Enveric Biosciences Canada Inc. (‘Amalco’) surviving as an indirect wholly-owned subsidiary of the Company (the ‘Amalgamation’). Pursuant to the Amalgamation Agreement, effective immediately following the Effective Time, the Company appointed each of (i) Dr. Joseph Tucker, who served as president and chief executive officer, and as a director, of MagicMed immediately prior to the Effective Time and (ii) Brad Thompson, who served as a director of MagicMed immediately prior to the Effective Time, to the Company’s board of directors (the “Board”), each to serve for a term expiring at the Company’s next annual meeting of stockholders or until his successor is duly elected and qualified, or his earlier death, resignation or removal. In connection with these appointments, the Board adopted resolutions to increase the size of the Board from five directors to seven directors to be effective at the Effective Time. Also pursuant to the Amalgamation Agreement, effective immediately following the Effective Time, the Company appointed each of (i) Dr. Tucker, 53, (ii) Dr. Peter Facchini, 58 and (iii) Dr. Jillian Hagel, 43, to be Chief Executive Officer, Chief Scientific Officer and Chief Technology Officer, respectively, and assigned David Johnson, 63, the title of Executive Chairman of the Company, and removed the title of Chief Executive Officer. Dr. Tucker has served as chief executive officer and president of MagicMed since May 2020. From 2019 until 2020, Dr. Tucker acted as the Executive Chairman and Chief Operating Officer of Willow Biosciences Inc. (TSX:WLLW) until leaving to join MagicMed in May 2020. From 2015 to 2019, his principal employment was acting as CEO, President, Director and Founder of Epimeron Inc., which merged with BioCan Technologies Inc. in 2018 and then listed by reverse-takeover with Makena Resources Inc. in 2019 as Willow Biosciences Inc. Dr. Tucker earned a Ph.D. in Biochemistry and Molecular Biology from the University of Calgary. Dr. Facchini has served as chief scientific officer of MagicMed since April 2020. From 2019 until 2020, he held the role of Chief Scientific Officer at Willow Biosciences Inc. until leaving to co-found MagicMed. From 2013 until 2019, Dr. Facchini held the role of Chief Scientific Officer, Director and Founder of Epimeron Inc. Dr. Facchini has also been a Professor of Plant Biochemistry in the Department of Biological Sciences at the University of Calgary for 25 years. Mr. Johnson served as Chairman and Chief Executive Officer of the Company from December 30, 2020 until the Effective Time of the Amalgamation. Mr. Johnson also has served on the board of directors and as the Chief Executive Officer of Aquamed Technologies, Inc. since April 2019. Mr. Johnson formerly served on the board of directors and as the President and Chief Executive Officer of Alliqua BioMedical, Inc. from November 2012 until April 2019. Mr. Johnson’s extensive experience in the pharmaceutical and biotechnology fields, as well as his executive leadership experience, make him an asset that will serve as a bridge between the board of directors and executive officers.