Scythian Biosciences Corp. (the “Company” or “Scythian“) (TSX VENTURE:SCYB)(FRANKFURT:9SB)(OTCQB:SCCYF) is pleased to announce that it has today entered into an agreement with a syndicate of underwriters led by Clarus Securities Inc. (the “Underwriters“), pursuant to which the Underwriters have agreed to purchase, on a bought deal basis, up to 537,700 units (the “Units“) of the Company at a price of C$18.60 per Unit (the “Offering Price“) for gross proceeds of C$10,001,220. Each Unit will be comprised of one common share of the Company (a “Unit Share“) and one common share purchase warrant (a “Warrant“). Each Warrant will entitle the holder thereof to purchase one common share of the Company at a price of C$22.00 for a period of 24 months following the Closing Date (as defined below).