Ensysce Biosciences Announces Closing of Merger

Ensysce Biosciences, Inc. ("Ensysce" or the "Company") (NASDAQ: ENSC) (OTC: ENSCW) today announced that it has closed its previously announced merger with Leisure Acquisition Corp. ("LACQ"). The combined company, Ensysce Biosciences, Inc., will commence trading its common stock and warrants under the ticker symbols "ENSC" and "ENSCW," respectively, on The Nasdaq Capital Market and OTC Market July 1, 2021. The merger was approved by LACQ's shareholders on June 28, 2021.

"The completion of our merger with LACQ is an extraordinary milestone for our company, our employees, and our shareholders," said Dr. Lynn Kirkpatrick, CEO of Ensysce. "We set out to stem the prescription drug abuse epidemic with our new class of agents and we're excited to build on our momentum as a public company by bringing our unique pipeline of products to patients in need. Crucially, we are led by our highly qualified and experienced board and leadership team that is committed to developing safer prescription drug options for both prescribers and patients. Our board and management team's experience, extensive relationships and access to the public capital markets position us well for the future and we look forward to creating long-term value for all stakeholders."

Bob Gower, Executive Chairman of Ensysce stated, "The merger with LACQ has provided Ensysce with the opportunity to progress our clinical programs rapidly, and to focus on expanding our pipelines of products in the pain, OUD and ADHD space."

LACQ's former Executive Chairman Lorne Weil and Chief Executive Officer Daniel Silvers jointly commented, "We are delighted to close our merger with the Ensysce team as it seeks to accelerate its growth and ultimately bring about highly novel science to improve the safety of prescription drugs, as a publicly listed company."

Proskauer Rose LLP acted as legal counsel to LACQ. Troutman Pepper LLP acted as legal counsel to Ensysce.

About Ensysce Biosciences: 

Ensysce Biosciences, San Diego, CA is a clinical-stage biotech company using its proprietary technology platforms to develop safer prescription drugs. Leveraging its Trypsin Activated Abuse Protection (TAAP™) and Multi-Pill Abuse Resistance (MPAR™) platforms, the Company is developing a new class of powerful, tamper-proof opioids that prevent both drug abuse and overdoses. Ensysce's products are anticipated to provide safer options to treat severe pain and assist in preventing deaths caused by opioid abuse, reducing the human and economic cost. The platforms are covered by an extensive worldwide intellectual property portfolio for a wide array of prescription drug compositions.