BetterLife Pharma Inc. announce that it has closed a non-brokered private placement of 2,000,000 units at an issue price of CAD 0.10 per Unit for aggregate gross proceeds of CAD 200,000 on December 18, 2023. 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 CAD 0.10 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. The transaction included participation from Dr. Ahmad Doroudian, Chief Executive Officer of the Company who subscribed a total of 1,000,000 Units under the Offering.