Early Warning Press Release in Respect of Cybin Inc.

This press release is issued pursuant to Multilateral Instrument 62-104 – Take-Over Bids and Issuer Bids and National Instruments 62-103 – The Early Warning System and Related Take-Over Bid and Insider Reporting Issues

TORONTO, Nov. 26, 2021 /CNW/ - November 26, 2021 – John Kanakis ("Mr. Kanakis") announced that, on November 26, 2021, Mr. Kanakis completed a transaction through the facilities of the Neo Exchange Inc. to acquire 29,900 common shares ("Common Shares") of Cybin Inc. (the "Company") at an average price of $1.68 per Common Share for an aggregate purchase price of $50,227 (the "Transaction"), representing approximately 0.02% of the issued and outstanding Common Shares on a partially diluted basis.

As a result of the Transaction, Mr. Kanakis has beneficial ownership of, or control or direction over, an aggregate of 10,745,310 Common Shares, which represents approximately 6.63% of the issued and outstanding Common Shares on a non-diluted basis and 16,445,310 Common Shares and other securities exercisable into Common Shares within 60 days, representing approximately 9.80% of the issued and outstanding Common Shares on a partially-diluted basis

Immediately prior to the Transaction, Mr. Kanakis had beneficial ownership of, or control or direction over, an aggregate of 10,715,410 Common Shares representing approximately 6.61% of the issued and outstanding Common Shares on a non-diluted basis, and 16,415,410 Common Shares and other securities exercisable into Common Shares within 60 days, representing approximately 9.78% of the issued and outstanding Common Shares on a partially-diluted basis.

Prior to completion of the Transaction, the Acquiror's security holding percentage decreased below 10% of the issued and outstanding Common Shares on a partially diluted basis as a result of issuer actions which increased the number of outstanding Common Shares through treasury issuances. This press release and the corresponding early warning report is being filed pursuant to subsection 6.1(3) of National Instrument 62-103 – The Early Warning System and Related Take-Over Bid and Insider Reporting Issues.

The Common Shares were acquired for investment purposes. Mr. Kanakis may in the future take such actions in respect of his holdings in Cybin as he may deem appropriate in light of the circumstances then existing, including the purchase of additional Common Shares or other securities of Cybin through open market purchases or privately negotiated transactions or the sale of all or a portion of his holdings in the open market or in privately negotiated transactions to one or more purchasers, subject in each case to applicable securities laws.

Mr. Kanakis's office and the Company's head office is located at 100 King Street West, Suite 5600, Toronto, Ontario, M5X 1C9.

A copy of the report relating to the Transaction will be available on the Company's profile at www.SEDAR.com or may be obtained from Mr. Kanakis at 1-866-292-4601 extension 718.

SOURCE John Kanakis