Christopher McElvany - Feb 13, 2023 Form 4 Insider Report for Lucy Scientific Discovery, Inc. (LSDI)

Role: President and CEO, Director
Signature: /s/ Brian Zasitko, Attorney-in-Fact
Stock symbol: LSDI
Transactions as of: Feb 13, 2023
Transactions value $: $1,163,016
Form type: 4
Date filed: 2/15/2023, 08:28 PM
Previous filing: Feb 9, 2023

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	LSDI	Common Shares	Other	$284K	+118K		$2.40	118K	Feb 13, 2023	By Supercritical Labs, LLC	F1, F2
transaction	LSDI	Common Shares	Conversion of derivative security	$879K	+366K		$2.40	366K	Feb 13, 2023	By Downwind Investments, LLC	F3, F4
holding	LSDI	Common Shares						991K	Feb 13, 2023	Direct

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
transaction	LSDI	8% Convertible Promissory Note	Conversion of derivative security	$0	-500K	-100%	$0.00^*	0	Feb 13, 2023	Common Shares	366K	$2.40	By: Downwind Investments, LLC	F4, F5, F6

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	These common shares were issued Supercritical Labs, LLC ("Supercritical") pursuant to a debt settlement with the Issuer in satisfaction of approximately $284,167 due to Supercritical in consulting fees
F2	The securities are held by Supercritical Labs, LLC ("Supercritical"). The reporting person is the sole member of Supercritical. The reporting person disclaims beneficial ownership of the reported securities except to the extent of his pecuniary interest therein.
F3	The common shares acquired in this transaction resulted from the conversion of a convertible note in the principal amount of $500,000, plus accrued and unpaid interest.
F4	The securities are held by Downwind Investments, LLC ("Downwind Investments"). The reporting person and his spouse are the sole members of Downwind Investments. The reporting person disclaims beneficial ownership of the reported securities except to the extent of his pecuniary interest therein
F5	Represents the principal amount of the convertible note and excludes accrued and unpaid interest.
F6	The outstanding principal amount and accrued and unpaid interest of the convertible note was converted into common shares upon the closing of the issuer's initial public offering.