Institute of Biomedical Research Corp. (OTC PINK:MRES), a vanguard entity at the forefront of nutraceutical biotechnology, specializing in alternative plant-based cannabinoids, medical psilocybin, and cutting-edge mental health therapeutic research driven by artificial intelligence (AI), is delighted to share the following consequential update:

Regarding the M2Bio Sciences Press Release dated June 27, 2023, titled: MRES: M2Bio Sciences Enters into Letter of Intent to Acquire Crypto Exchange JDAX'. The company is pleased to announce the acquisition has been completed.

Please read the previous Press Release for an overview as to the platform, capabilities and future plans going forward. It can be found here.

Immediately, JDAX will be rebranded with a new name and jurisdiction. The name will be announced in the coming weeks, and the new domicile for the company and IP will be Dubai, United Arab Emirates.

"I'm excited to get this platform into Dubai and on the global stage. It's a one-of-a-kind. It's time that new and unique technology-driven ways to fund biotechnology are available for all to invest in and participate in. I'll be in Dubai in a few weeks. I'm sure the company will have some considerable updates to announce - who knows, maybe the first minting of an NFT?'' said M2Bio Sciences CEO Jeff Robinson.

Ze-ev Krein, Chairman, M2Bio Scientific Advisory Board said: "The JDAX vision is to democratize access to capital for commercially viable projects of beneficial and global impact. M2Bio provides both the resources to make this vision a reality. It is already well underway with the first set of globally impactful projects to tokenize, particularly the drug discovery program and the resultant lead compounds. Our novel approach to scientific discovery and commercial approaches place us as an exemplary template for the innovation process of the future.

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About Institute of Biomedical Research Corp./ DBA M2Bio Sciences

Institute of Biomedical Research Corp is a nutraceutical biotechnology company focused on alternative plant-based cannabinoids, medical psilocybin and mental health therapeutic research powered by artificial intelligence, and evidence-based sustainable products and solutions that develops and commercializes a range of CBD and mushrooms-based products under Dr. AnnaRx™, Medspresso™, Liviana™ brands as well as artificial intelligence-powered nutrition products and solutions under the M2Biome brand. In addition, our research and clinical trials with psilocybin are aimed at new therapies to help patients suffering from alcohol addiction, mental illness, and cardiovascular diseases. Our mission is to advance botanical-based medicine to the forefront by deploying best-practice science and medicine, clinical research, and emerging technologies such as artificial intelligence.

The Company is traded on the Over-the-Counter Bulletin Board of NASDAQ under the trading symbol "MRES".

Publicly traded Company (OTC Pink:MRES)

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Forward-Looking Statements

Safe Harbour Statement - In addition to historical information, this press release may contain statements that constitute forward-looking statements within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. Forward-looking statements contained in this press release include the intent, belief, or expectations of the Company and members of its management team with respect to the Company's future business operations and the assumptions upon which such statements are based. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance, involve risks and uncertainties and that actual results may differ materially from those contemplated by such forward-looking statements. Factors that could cause these differences to include, but are not limited to, failure to complete anticipated sales under negotiations, lack of revenue growth, client discontinuances, failure to realize improvements in performance, efficiency, and profitability, and adverse developments with respect to litigation or increased litigation costs, the operation or performance of the Company's business units or the market price of its common stock. Additional factors that could cause actual results to differ materially from those contemplated within this press release can also be found on the Company's website. The Company disclaims any responsibility to update any forward-looking statements.