1^st July 2021

Apollon Formularies plc

Extension of Right to Purchase on Doc's Place International Inc.

Apollon Formularies plc (AQSE: APOL, "Apollon" or the "Company") announces that it has agreed to extend its existing Right to Purchase ("RPU") option to acquire up to 90% of Doc's Place International Inc. Wellness Center ("Doc's Place") in Negril, Jamaica which expires on 30^th June, 2021, for a further six months ending 31^st December, 2021.

The Company has extended the RPU on Doc's Place so that Apollon could focus on expanding its operations to Kingston, where it has signed long-term lease for its first International Cancer Institute in the Jamaican capital.

The Directors of the issuer accept responsibility for the contents of this announcement.

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For additional information, please visit www.apollon.org.uk or contact:

Apollon Formularies                                                     

Tel:                                         +44 207 907 9314

Stene Jacobs                      stene@apollon.org.uk 

Peterhouse Capital Limited (Corporate Adviser)             

Tel:                                         +44 207 220 9795

Guy Miller                           gm@peterhousecapital.com

Blytheweigh (Financial PR/IR-London)                 

Tel:                                         +44 207 138 3204

Tim Blythe                           tim.blythe@blytheweigh.com

Megan Ray                          megan.ray@blytheweigh.com

About Apollon and Apollon Jamaica

Apollon Formularies plc is an international medical cannabis company headquartered in the United Kingdom. Apollon Formularies Jamaica Limited is a pharmaceutical company incorporated and operating in the Commonwealth of Jamaica. Apollon Jamaica is licensed by the Jamaican government's Cannabis Licensing Authority (CLA) to cultivate, perform research and development, process, and sell medical cannabis therapeutic products that include legal medical cannabis in order to treat various illnesses under medical supervision. Apollon and Apollon Jamaica are parties to a Commitment Agreement whereby Apollon is entitled to 95% of Apollon Jamaica's Net Profits, and per a Stock Pledge Agreement that includes Stephen D. Barnhill, M.D., Apollon is to be assigned the entire 49% equity interest of Apollon Jamaica held by Dr. Barnhill, which is the maximum interest in a medical cannabis company allowed to be held by a non-Jamaican, upon the CLA approving the assignment.