Enveric Biosciences Announces Proposed Public Offering

Biosciences Announces Proposed Public Offering

Fla., Feb. 10, 2022 /PRNewswire/ - Enveric Biosciences (NASDAQ: ENVB) ("Enveric" or the "Company"), a

neuroscience company developing next-generation, psychedelic-inspired mental health, and oncology treatments, today announced that it

intends to offer shares of its common stock (or common stock equivalents in lieu thereof) and warrants to purchase common stock for sale,

subject to market and other conditions, in an underwritten public offering. All of the securities to be sold in the offering are to be

offered by Enveric. The Company intends to use the net proceeds from this offering for working capital and to fund other general corporate

purposes. The offering is subject to market conditions, and there can be no assurance as to whether or when the offering may be completed,

or as to the actual size or terms of the offering.

Global Partners is acting as sole book-running manager for the offering.

offering is being made pursuant to an effective shelf registration statement on Form S-3 (No. 333-257690) previously filed with the U.S.

Securities and Exchange Commission (the "SEC") that was declared effective by the SEC on July 9, 2021. The offering will

be made only by means of a prospectus supplement and accompanying base prospectus, as may be further supplemented by any free writing

prospectus and/or pricing supplement that Enveric may file with the SEC. The preliminary prospectus supplement and accompanying prospectus

describing the terms of the proposed offering will be filed with the SEC and will be available on the SEC's website located at

http://www.sec.gov. Electronic copies of the preliminary prospectus supplement may be obtained, when available, from A.G.P./Alliance

Global Partners, 590 Madison Avenue, 28th Floor, New York, NY 10022 or via telephone at 212-624-2060 or email: prospectus@allianceg.com.

Before investing in this offering, interested parties should read in their entirety the prospectus supplement and the accompanying prospectus

and the other documents that Enveric has filed with the SEC that are incorporated by reference in such prospectus supplement and the

accompanying prospectus, which provide more information about Enveric and such offering.

press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities

in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under

the securities laws of any such state or jurisdiction.

Biosciences (NASDAQ: ENVB) is an innovative biotechnology company developing next-generation mental health and oncology treatments and

clinical discovery platform, leveraging psychedelic-derived molecules for the mind and synthetic cannabinoids for the body. Enveric's

robust pipeline supports drug discovery efforts and clinical development programs to enable the potential commercialization of effective

treatments for millions of patients in need around the world. For more information, please visit www.enveric.com.

Statement Regarding Forward-Looking Statements

press release contains forward-looking statements that are made pursuant to the safe harbor provisions within the meaning of Section

27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements

are any statements that express the current beliefs and expectations of management, including but not limited to statements related to

the proposed public offering, the satisfaction of customary closing conditions related to the proposed public offering and the intended

use of proceeds therefrom and expected clinical development of Enveric's drug product candidates. Any statements contained herein

that do not describe historical facts are forward-looking statements that are subject to risks and uncertainties, market and other conditions,

that could cause actual results, performance and achievements to differ materially from those discussed in such forward-looking statements.

These and other risks are discussed in Enveric's filings with the SEC, including, without limitation, its Annual Report on Form

10-K, filed on April 1, 2021, and its periodic reports on Form 10-Q and Current Reports on Form 8-K. Enveric cautions readers not to

place undue reliance on any forward-looking statements, which speak only as of the date they were made. Enveric undertakes no obligation

to update or revise forward-looking statements, except as otherwise required by law, whether as a result of new information, future events