PharmChem : Announces New Director and Comprehensive Review of Current Operations - June 2 2022

Announces Addition of Mr. Harris Perlman as Director and

The Board's Comprehensive Review of Current Operations

Fort Worth, TX (June 02, 2022) - PharmChem, Inc. ("PharmChem" or the "Company") (OTC: PCHM) today announces the appointment of Mr. Harris Perlman to the Board of Directors and a review of the Company's operations.

PharmChem is pleased to announce the appointment of Mr. Harris Perlman to its board of directors. Mr. Perlman is a private investor and an investment advisor. He is a member of MicroCapClub, a community of microcap investors. He was previously employed as an investment analyst at QVT Financial, a multi- strategy hedge fund. Prior to that, he was an analyst at BlackRock. Mr. Perlman holds a Bachelor of Science in Engineering degree in Operations Research and Financial Engineering from Princeton University, and is a CFA charterholder.

The Company also announced its decision to cancel an agreement with a material new distribution customer that was noted in the Company's April 22, 2022 press release because the customer failed to place any orders under the agreement. The cancellation decision has led to a decision by the Board of Directors to undertake a comprehensive review of the Company's operations before evaluating any potential financial transactions.

This press release is for informational purposes only and is not an offer to buy or the solicitation of an offer to sell any securities.

Cautionary Statement Regarding Forward-Looking Statements

Certain statements and information in this press release may constitute "forward-looking statements." The statements discussed in this press release that are not purely historical data are forward-looking statements. These forward-looking statements are based on our current expectations and beliefs concerning future developments and their potential effect on us. While management believes that these forward-looking statements are reasonable as and when made, there can be no assurance that future developments affecting us will be those that we anticipate. Our forward-looking statements involve significant risks and uncertainties (some of which are beyond our control) and assumptions that could cause our actual results to differ materially from our historical experience and our present expectations. For additional information regarding known material risks, uncertainties and other factors that can affect future results, please see our filings with OTC Markets from time to time (available at www.otcmarkets.com), including our latest Annual Report and Quarterly Reports. Except as required by law, we undertake no obligation to publicly update or revise any forward-looking statements after the date they are made, whether as a result of new information, future events or otherwise

About PharmChem, Inc.

PharmChem, Inc. ("PharmChem") (OTC: PCHM), headquartered in Fort Worth, TX, is the manufacturer and sole source provider of the PharmChek® Drugs of Abuse Sweat Patch.