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OPTIMI HEALTH JOINS FIRST PSYCHEDELIC EXCHANGE TRADED FUND

VANCOUVER, BC (July 13, 2021) — Optimi Health Corp. (CSE: OPTI) (OTC: OPTHF) (FRA: 8BN) (“Optimi” or the “Company”), a vertically integrated developer of mushroom products is pleased to announce its inclusion in the first psychedelics Exchange Traded Fund (“ETF”) (NEO: PSYK). The ETF began trading on the Neo Exchange as of January 26, 2021.

The ETF invests in, and indirectly derive revenues from, companies in the psychedelics industry engaged in legal activities involving psychedelic drugs and substances.

Optimi Health is one of currently twenty-three companies to have met the requirements of listing within the ETF. The ETF seeks to replicate, to the extent possible and net of expenses, the performance of a market index that is designed to provide exposure to the performance of a basket of North American publicly listed life sciences companies having significant business activities in, or significant exposure to, the psychedelics industry. Currently, the ETF seeks to replicate the performance of the North American Psychedelics Index, net of expenses. Rebalancing of the North American Psychedelics Index occurs each calendar quarter. At those points, all stocks eligible for inclusion are generally re-weighted by their respective float market capitalization. Optimi Health received a 1.74% weighting at inclusion.

The ETF is managed by Horizons ETF Management an innovative financial services company offering one of the largest suites of exchange traded funds in Canada. The Horizons ETFs product family includes a broadly diversified range of solutions for investors of all experience levels to meet their investment objectives in a variety of market conditions. Horizons ETFs has over $19 billion of assets under management and 95 ETFs listed on major Canadian stock exchanges. Horizons also brought the first cannabis ETF to market in 2017 and continues to lead the industry with ETFs in emerging industries.

Optimi Health’s CEO Mike Stier states, “Inclusion into the ETF is a significant milestone for Optimi Health’s stakeholders. The recognition the Horizons ETF brings us is certainly advantageous to the Company and the increased visibility alone is a big plus, providing increased confidence and assurance to the newer investors. While the ETF brings additional exposure to potential new investors, it also generates value for existing shareholders. We are incredibly pleased to make this announcement today and look forward to capitalizing upon this outstanding opportunity as quickly as possible.”

On Behalf of the Board of Directors,
Optimi Health Corp.

Mike Stier
President, Chief Executive Officer and Director

ABOUT OPTIMI (CSE: OPTI) (OTC: OPTHF) (FRA: 8BN)

Optimi is developing a sophisticated mushroom brand that focuses on the health and wellness markets. With a vertically integrated approach, Optimi intends to cultivate, extract, process and distribute high quality functional mushroom products at its two facilities comprising a total of 20,000 square feet nearing completion in Princeton, British Columbia. To fully investigate the science of mushrooms, the Company has received a research exemption under Health Canada Food and Drug Regulations (FDR) for the use of Psilocybin and Psilocin for scientific purposes via its wholly owned subsidiary Optimi Labs Inc. Optimi has also applied for a dealer’s license under Canada’s Narcotic Control Regulations governing possession, distribution, sale, laboratory analysis of and research and development of Psilocybin and Psilocin formulations. Optimi is committed to expert cultivation and quality production subject to and in accordance with the terms of all applicable laws and governing regulations to ensure safe, superior Canadian fungi production.

Find out more at: https://optimihealth.ca/.

FOR FURTHER INFORMATION CONTACT:

Investor Relations
Email: investors@optimihealth.ca
Phone: +1 (778) 930-1321
Web: https://optimihealth.ca/

FORWARD‐LOOKING STATEMENTS

This news release contains forward‐looking statements and forward‐looking information within the meaning of Canadian securities legislation (collectively, “forward‐looking statements”) that relate to Optimi’s current expectations and views of future events. Any statements that express, or involve discussions as to, expectations, beliefs, plans, objectives, assumptions or future events or performance (often, but not always, through the use of words or phrases such as “will likely result,” “are expected to,” “expects,” “will continue,” “is anticipated,” “anticipates,” “believes,” “estimated,” “intends,” “plans,” “forecast,” “projection,” “strategy,” “objective,” and “outlook”) are not historical facts and may be forward‐looking statements and may involve estimates, assumptions and uncertainties which could cause actual results or outcomes to differ materially from those expressed in such forward‐looking statements. No assurance can be given that these expectations will prove to be correct and such forward‐looking statements included in this news release should not be unduly relied upon. These statements speak only as of the date of this news release. In particular and without limitation, this news release contains forward‐ looking statements pertaining to the Company’s potential Nasdaq listing, the dealer’s license application, activities proposed to be conducted under the Company’s research exemption and associated business related to Psilocybin and Psilocin and Optimi’s plans, focus and objectives.

Forward‐looking statements are based on a number of assumptions and are subject to a number of risks and uncertainties, many of which are beyond Optimi’s control, which could cause actual results and events to differ materially from those that are disclosed in or implied by such forward‐looking statements. Such risks and uncertainties include, but are not limited to, the impact and progression of the COVID‐19 pandemic and other factors set forth under “Forward‐Looking Statements” and “Risk Factors” in the Company’s Final Prospectus dated February 12, 2021. Optimi undertakes no obligation to update or revise any forward‐looking statements, whether as a result of new information, future events or otherwise, except as may be required by law. New factors emerge from time to time, and it is not possible for Optimi to predict all of them or assess the impact of each such factor or the extent to which any factor, or combination of factors, may cause results to differ materially from those contained in any forward‐looking statement. Any forward‐looking statements contained in this news release are expressly qualified in their entirety by this cautionary statement.

The CSE does not accept responsibility for the adequacy or accuracy of this release.

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Silo Wellness Announces Approval for Trading on the OTCQB Under Symbol “SILFF”

Silo Wellness Announces Approval for Trading on the OTCQB Under Symbol “SILFF”

TORONTO, July 13, 2021 (GLOBE NEWSWIRE) — Silo Wellness Inc. (“Silo Wellness” or the “Company”) (CSE: SILO) (OTCQB: SILFF) (FRA: 3K70), a leading global psychedelics company, announces that its common shares are now trading on the OTCQB® Venture Market under the symbol “SILFF”. The OTCQB® Venture Market is for entrepreneurial and development stage U.S. and international companies, and trading on the OTCQB will enhance the visibility and accessibility of Silo Wellness to U.S. investors. Silo Wellness’ common shares will continue to trade on the Canadian Securities Exchange under the symbol “SILO”.

“Silo Wellness is pleased to be joining the OTCQB and improving access to our American shareholders. Our team is focused on building and accelerating the growth of the Marley One line of functional mushrooms, our Jamaican and Oregon wellness retreats, the cultivation of psychedelic mushrooms and truffles in Jamaica, the development of our brick-and-mortar smart shop in Jamaica and the commercialization of our metered-dosing psilocybin nasal spray,” said Douglas Gordon, Chief Executive Officer of Silo Wellness.

ABOUT SILO WELLNESS

Silo Wellness is a growth-oriented holding company focused on functional mushroom and psychedelic opportunities that benefit from a unified ecosystem and exceptional leadership. Founded in 2018 and headquartered in Toronto, Silo Wellness has operations in Jamaica and Oregon. Silo Wellness is a publicly traded company on the Canadian (CSE: SILO) and Frankfurt (FRA: CK70) exchanges and trading on the OTCQB® Venture Market (OTCQB: SILFF).

Silo Wellness offers a diverse and growing portfolio of functional mushroom products, psychedelic wellness retreats in Jamaica and Oregon, cultivation of psychedelic mushrooms and truffles in Jamaica, development of a brick-and-mortar smart shop in Jamaica, and intellectual property, focused initially on the commercialization of its metered-dosing psilocybin nasal spray.

In March 2021, Silo Wellness announced a multi-year licensing agreement with the family of legendary musician Bob Marley for the exclusive worldwide rights to brand, market and sell a distinct product line of functional and psychedelic mushrooms. The Marley One line of functional mushrooms is available at www.marleyone.com.

For more information about Silo Wellness, please visit www.silowellness.com.

For further information, please contact:

Silo Wellness Media Relations:
hello@trailblaze.co

Silo Wellness Investor Relations:
(778) 383-6740
ir@silowellness.com

CAUTIONARY NOTE REGARDING FORWARD-LOOKING INFORMATION:

This news release contains “forward-looking information” and “forward-looking statements” (collectively, “forward-looking statements”) within the meaning of the applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates, and projections as at the date of this news release. Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as “expects”, or “does not expect”, “is expected”, “anticipates” or “does not anticipate”, “plans”, “budget”, “scheduled”, “forecasts”, “estimates”, “believes” or “intends” or variations of such words and phrases or stating that certain actions, events or results “may” or “could”, “would”, “might” or “will” be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements. In this news release, forward-looking statements relate, among other things, to: the trading of Silo Wellness’ common shares on the OTCQB® Venture Market, the partnership with the Marley brand, the effects of Silo Wellness’ products and the business plans of Silo Wellness. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to: general business, economic, competitive, political and social uncertainties and the potential impact of COVID-19. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements.

Readers should not place undue reliance on the forward-looking statements and information contained in this news release. Silo Wellness assumes no obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change, except as required by law.

NEITHER THE CANADIAN SECURITIES EXCHANGE NOR ITS REGULATION SERVICES PROVIDER ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

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Numinus Announces Health Canada Approval of MAPS-Sponsored Open Label Study for MDMA-Assisted Therapy for PTSD

Real-world study expands access to MDMA-assisted therapy for patients with PTSD and concurrent disorders and will provide data on a regulated model for MDMA-assisted therapy

MDMA for PTSD study with MAPSVANCOUVER (July 12, 2021) – Numinus Wellness Inc. (“Numinus” or the “Company”) (TSXV: NUMI), a mental health care company advancing innovative treatments and safe, evidence-based psychedelic-assisted therapies, is pleased to announce that Health Canada has cleared the MAPS-sponsored single-arm, open-label safety and feasibility study evaluating MDMA-assisted therapy for post-traumatic stress disorder (PTSD). This study is being pursued in collaboration with MAPS Public Benefit Corporation (MAPS PBC), a wholly-owned subsidiary of the Multidisciplinary Association for Psychedelic Studies (MAPS), the leading developer of MDMA-assisted therapy training programs, treatment protocols and research.

“We are thrilled that Health Canada has issued its No Objection Letter allowing this important study to proceed and, in doing so, potentially advance Canada toward a legal, regulated system for MDMA-assisted therapy,” said Payton Nyquvest, CEO of Numinus. “At Numinus, we are focused on expanding patient access to psychedelic-assisted therapies such as MDMA for PTSD, and we are gratified that our study will provide safety and outcome data to regulators to support integration of this treatment into mainstream mental health care.”

This study has advanced through the pre-implementation stage at Numinus’ Vancouver clinic and has now received the required federal regulatory approval. Study preparations are now transitioning into the final stages of training staff, importing medication and obtaining ethical approval to allow the recruitment of participants according to COVID-19 public health protocols. During the study, research, medical and therapist staff at Numinus will collect data on the safety and effectiveness of MDMA-assisted therapy to inform Health Canada and support making MDMA-assisted therapy available to individuals living with PTSD in Canada.

Through the collaboration and study activities, Numinus seeks to create access for patients with no other treatment options and establish the physical, human resource and other infrastructure required to scale up access to MDMA-assisted therapy if federal approvals are ultimately in place.

“As research into MDMA-assisted therapy grows, it is critical that we develop data on outcomes from a diverse, real-world array of clinical environments,” said Amy Emerson, CEO of MAPS PBC. ”Clinical studies conducted for the purpose of regulatory approval often address research questions focusing on safety and efficacy of the treatment. This collaborative demonstration study with Numinus will build upon MAPS-sponsored multi-site studies which enrolled some Canadian participants and will provide new and comprehensive information about the effectiveness of MDMA-assisted therapy for populations with PTSD and concurrent disorders.”

Dr. Devon Christie, Numinus Medical and Therapeutic Services Director, will serve as the study’s Qualified Investigator and as a study therapist. Dr. Christie is a family physician with a focus in multidisciplinary pain management and a certified Relational Somatic Therapist. She is MAPS-trained in the delivery of MDMA-assisted therapy for PTSD.

“Health Canada should be recognized for its ongoing leadership through its support of this study,” said Dr. Christie. “At our Vancouver clinic, we have spent months establishing the physical, technical, clinical and human resource infrastructure needed to move the study forward and ultimately foster greater access to MDMA-assisted therapy.“

New trial builds on strong MAPS Phase 3 results

In May 2021, MAPS announced results from its Phase 3 randomized clinical trial that confirmed the substantial efficacy and safety of MDMA-assisted therapy for PTSD under the MAPS protocol. The trial demonstrated that 88% of participants who received three controlled and supervised MDMA-assisted therapy sessions experienced a clinically significant reduction in symptoms, with 67% no longer qualifying for PTSD diagnosis in comparison to 32% of participants randomized to placebo. Study participants had PTSD diagnoses from a range of causes, including combat-related events, accidents, abuse, sexual harm and developmental trauma.

Note

The safety and efficacy of MDMA-assisted therapy is currently under investigation. It has not yet been approved by Health Canada or the FDA, does not work for everyone, and carries risks even in therapeutic settings. These statements are no guarantee of future Health Canada or FDA approval or availability of MDMA-assisted therapy. These statements necessarily involve known and unknown risks and uncertainties, which may cause actual outcomes to differ materially from projections.

Health Canada recommends open-label pragmatic clinical trials when drug manufacturers anticipate exceptional demand for a drug, “to meet the needs of patients not eligible for enrollment in other pivotal trials” (Special Access Program for Drugs: Guidance document for industry and practitioners, Published 2020-10-14). This program is not related to the U.S. FDA’s Breakthrough Therapy designation nor the Expanded Access Program, sometimes referred to as “compassionate use.”

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About Numinus

Numinus Wellness (TSX-V: NUMI) helps people to heal and be well through the development and delivery of innovative mental health care and access to safe, evidence-based psychedelic-assisted therapies. The Numinus Wellness model – including psychedelic production, research and clinic care – is at the forefront of a transformation aimed at healing rather than managing symptoms for depression, anxiety, trauma, pain and substance abuse. At Numinus, we are leading the integration of psychedelic-assisted therapies into mainstream clinical practice, and building the foundation for a healthier society.

Learn more at numinus.ca, and follow us on Facebook, Twitter, and Instagram.

Forward-Looking Statements
This news release contains forward-looking statements within the meaning of applicable securities laws. All statements that are not historical facts, including without limitation, statements regarding future estimates, plans, programs, forecasts, projections, objectives, assumptions, expectations or beliefs of future performance, are “forward-looking statements”. Forward-looking statements can be identified by the use of words such as “plans”, “expects” or “does not expect”, “is expected”, “estimates”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results, events or developments to be materially different from any future results, events or developments expressed or implied by such forward-looking statements. Such risks and uncertainties include, among others, dependence on obtaining and maintaining regulatory approvals, including acquiring and renewing federal, provincial, municipal, local or other licences and any inability to obtain all necessary governmental approvals, licences and permits to operate and expand the Company’s facilities; regulatory or political change such as changes in applicable laws and regulations, including federal and provincial legalization of psychedelic therapies, due to inconsistent public opinion, perception of the medical-use of psychedelics, delays or inefficiencies or any other reasons; any other factors or developments which may hinder market growth; the Company’s limited operating history and lack of historical profits; reliance on management; the Company’s requirements for additional financing, and the effect of capital market conditions and other factors on capital availability; competition, including from more established or better financed competitors; the need to secure and maintain corporate alliances and partnerships, including with research and development institutions, customers and suppliers; the development and implementation of medical protocols and treatment standard operating procedures for the use of psychedelic therapies; the Company’s goals to develop and implement partnerships with research organizations and other key players in the integrative mental health industry; the Company’s ability to successfully withstand the economic impact of COVID-19; the medical benefits, safety, efficacy, dosing and social acceptance of psychedelics; the approval and/or success of compassionate access clinical trials; the cultivation and harvest of Psilocybe mushrooms; and the availability of trained personnel and medical professionals. These factors should be considered carefully, and readers are cautioned not to place undue reliance on such forward-looking statements. Although the Company has attempted to identify important risk factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other risk factors that cause actions, events or results to differ from those anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in forward-looking statements. The Company has no obligation to update any forward-looking statement, even if new information becomes available as a result of future events, new information or for any other reason except as required by law.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

For further information:

May Lee

Communications Manager

Numinus

may@numinus.ca

For media inquiries:

Catherine Snider

Kaiser & Partners

catherine.snider@kaiserpartners.com

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Psychedelic Finance Interview with Damon Michaels, Director, COO, & Co-Founder

Damon Michaels is the Chief Operations Officer of Mydecine Innovations Group. Prior to joining MIG, Mr. Michaels was consulting for various hemp businesses through his company, Emerald Baron. Before that, he served as GM for the leading multi-platform cannabinoid research and technology firm based in Colorado called ebbu. In November of 2018, ebbu was acquired for CAD $429m by Canopy Growth for being the cutting edge leader in cannabinoid science. Over the last decade, Mr. Michaels has been in leading roles with multiple large brands throughout the cannabis vertical in Colorado and California. Outside of the cannabis industry, he developed a national snowboard brand with his team, was one of four entrepreneurs who created Colorado’s first-ever glass recycling company, and was on the business development team for a Google Ventures Company.

 

What made you personally want to get involved in psychedelics?

Ever been to a really good awe-inspiring magic show that left you walking out of the auditorium questioning reality? I always knew that there was more to life than what meets the eye, but sometimes there’s more than seeing with believing. After you’ve undergone a real psychedelic experience, it kills your ego. You establish greater empathy for others, and come to the realization that all things are connected. You also realize that there is so much more to life, consciousness, and healing, than we ever thought possible and I knew I wanted to find a way to one day take it mainstream to help awaken and heal others.

Why is Mydecine focused on building for both psychedelic medicines and psychedelic assisted therapies?

Our dedicated clinical research team has been studying psychedelic therapeutics for decades. We strongly believe there is a two-part equation to help solve the mental and social disorders that people may be suffering from prior to their psychedelic therapy. Simply think of consuming psilocybin, the psychedelic precursor chemical found in “magic mushrooms”, as a reset switch for your brain to help physically get the brain back on track. After the psychedelic experience, the back-end therapy is designed to walk you through the second stage of the healing process to make sure you don’t fall back into old habits or routines that could retrigger the original disorder. Mydecine is initially targeting PTSD and combating smoking addiction with a two-stage combination of medicine and therapy.

How did you develop your state-of-the-art mycology laboratory?

After we scouted multiple locations around the Denver area, we landed on the perfect environment for our mycology lab we call MYCOM (Mydecine Center of Mycology), which is also our US headquarters. It was once an FDA approved lab for probiotic research, so it had a great built-in layout for what we needed. After shaking hands with the landlord and locking down the lease, we brought in our elite group of staff who have extensive backgrounds in mycology research, genetics, and chemical analytics, to help us outfit the lab with our own design and equipment needed to conduct our ongoing studies around non-psychedelic medicinal functional mushrooms. Additionally, we have also started the process to get this lab under a DEA license to research and analyze psychedelic mushrooms as well.

What types of research are you currently focused on?

We are an emerging research driven biotech company, developing a vast IP portfolio, so we’re dedicated to all types of necessary research. Our company’s primary R&D focuses around our novel drug discovery and design of entheogenic, empathogenic, and nootropic compounds, therapeutic protocols, clinical trials, genetic experiments, artificial intelligence, patent design, and chemical analysis from fungal sources.

What kind of difficulties do you face in balancing international regulations and working within regulatory frameworks in the US, Canada, and Jamaica? How have you been able to legally export psilocybin and how will that evolve moving forward?

It’s always a balancing act to develop systems and operate between multiple regulated government bodies, but that is partly what our expert team of attorneys are on retainer for. They make sure that we do everything by-the-book in the eyes of the law. Months ago, we successfully and legally completed the first-ever international shipment of psilocybin containing mushrooms from Jamaica to Canada. This was facilitated under a Health Canada Schedule I Dealer’s License that is possessed by our R&D lab in Alberta. Currently, we are only supporting the feedstock of our own drug design and clinical trials. However, as things evolve, we hope to be able to commercially supply to a regulated market once we get FDA approval. After that, we can open up the doors further to collaboration and begin exporting to third party clinical trials, research groups, government entities and other licensed facilities that may be in need of our top tier product supply on a global scale.

How do you manage the different areas of focus at Mydecine and cohesively bring them all together?

Very carefully while putting work in many long hours of the day! Honestly, we probably couldn’t have pulled it off the way we did and as fast as we did it, if we weren’t a remotely structured company with access to modern day technologies that we all knowingly take for granted. Mydecine was founded at the height of Covid-19 in March of 2020, so we were forced to build the company remotely and put very strong telecommunication skills in place. Being mostly remote has opened up the doors much wider to human capital which allowed us to handpick the best team of constituents from around the world. If we could only hire locally from a designated city, it’s doubtful that we would have been able to put together the team we did. Everyone on the team jives really well together and are all hardworking passionate individuals that are as loyal as they come. This helps quite a lot when we’re all focused and working together to accomplish common goals.

How will your recent partnership with Applied Pharmaceutical Innovation allow you to further develop your novel compounds?

API’s exclusive partnership with us gives Mydecine carte blanche access to a research facility worth over $100M in assets along with access to an incredible group of world-class scientists. This has helped Mydecine to further our research and expand at a faster pace than we ever could have if we tried to build out a CGMP pharmaceutical grade research lab on our own. The lab has all of the technical, fundamental, and experimental capabilities needed to legally import, extract, process, research, analyze, produce, manufacture, sell, distribute, and export psychedelic Schedule I substances such as psilocybin, psilocin, and MDMA. The lab at API is the ultimate pharmaceutical environment we needed to discover and characterize countless molecules found in mushrooms and to also have the ability to take our novel drugs from pre-clinical trials all the way through to phase 4 clinical studies.

What is the biggest misconception that people have about psychedelics?

I can at least speak for psilocybin/psilocin, because that is what we’re primarily focused on. I think the biggest misconception is that these compounds are harmful, toxic, unsafe for use, and have zero medicinal value. This is completely untrue as psilocybin alone is safer than caffeine, and there is zero risk of dependency and abuse. There is ample historical data from many of the world’s top universities to show that psilocybin/psilocin have plenty of legitimate medical uses.

How did Mydecine choose what areas to focus on for clinical trials and why did you ultimately land on PTSD and smoking cessation?

From the get-go, we focused our efforts on PTSD and eventually added smoking cessation, because they are both indications that we personally hold close to our hearts. Unfortunately, many of our team members have had to deal with the traumatic repercussions of a friend, colleague, or loved one taking their own life as a result of suffering from severe PTSD. Understanding the potential healing power of psychedelic medicine and wanting to target this indication is what prompted Mydecine to fully acquire NeuroPharm, a dedicated psychedelic industry entity geared towards PTSD relief in veterans and frontline workers using psychedelic-assisted psychotherapy. One of the amazing team members that came along with the acquisition is Dr. Rakesh Jetly (Mydecine’s Chief Medical Officer) who we fully admire and respect from what he’s accomplished in his career already. As of February of this year, Dr. Jetly has fully retired from a 31-year career with the Canadian Armed Forces with the last decade holding the position as Head of Psychiatry. He knows all too well the devastating effects of PTSD more than anyone we know and knew there had to be a better solution than what currently exists within the limited options of Western medicine. This led Dr. Jetly to spend many years studying psychedelic medicine and it’s safe and effective uses with treatment resistant patients. Neuropharm’s clinical trial developments and its patients are now fully under Mydecine’s care and we couldn’t be more thankful to be working alongside Dr. Jetly as we continue to expand the efforts he and his team initially started. Currently, there are no prescribed medications in the market specifically designed for PTSD.

As for smoking cessation, we know based on historical data, which recently has been developed out of Johns Hopkins University, led by Dr. Matthew Johnson (who we’re huge fans of), showed major promise to help people kill their addiction to deadly nicotine. There is over a 60% success rate using psychedelic therapy for smoking cessation. Other products that are currently on the market have a much lower rate. CHANTIX has been the leading prescribed drug for nicotine addiction, but with only a 20% one-year success rate. CHANTIX was also just recalled a few weeks ago due to the discovery of carcinogens found within it.

What trend do you think is emerging in the world of psychedelics and what impact do you see that having?

One trend that is catching on quickly in the medical field and throughout the media, is that we are all starting to see an increasing number of people who are accepting and willing to try psychedelic-assisted psychotherapy as more education and research is revealed. For mental health treatment, it’s safe, effective, what more could you ask for?. It finally gives people an alternative rather than having to take a pill the rest of their life that may do more harm than good. Kind of a no-brainer (pun intended)! Once these novel drugs go through the traditional path of FDA approval (hoping to achieve breakthrough status) and eventually get approval, doctors can prescribe this medicine to their patients and we will see a new wave of healing on a global scale that we’ve never seen before in modern history. It’s time to normalize psychedelic medicine and therapy and open up mainstream accessibility.

Can you tell us more about Mydecine’s digital health platform?

Mydecine saw the huge upside opportunity with Mindleap Health, which is why we decided to acquire it early on. With everything going remote due to Covid, it couldn’t have been better timing to resurrect Mindleap and give users the convenient ability to connect with a mental health specialist wherever they are in the world at any time of the day. Mindleap is very unique as it is the first mental health application to bring psychedelic treatment and inner wellness together. We’re very excited for Mindleap right now, because 2.0 is about to launch on iOS and Android platforms this month, which will give the user a lot more options to reach their mental health success by adding other integrations into the Mindleap platform (i.e. yoga, breathwork, nutrition, etc.). Mindleap also collects data from wearables such as watches to help the specialists understand the user more than ever before. This in turn helps the specialists develop the best path for the user to achieve their mental health goals. All data is secure and is managed strictly by the user, Mindleap does not sell any of the data, and the platform itself is HIPAA compliant. Mindleap will also be a great medical tool for Mydecine and other research organizations to better manage clinical trials in regards to psychedelic integration therapy.

Who is someone doing important work in the world of psychedelics? Who you think more people should be aware of and what companies do you see that are also on the path to succeed?

There is absolutely no way I can just narrow that down to one person. First off, I want to start off by saying our amazing staff and Mydecine’s Scientific Advisory Board Members are absolute rock stars. Outside of our direct team, a handful of others I commend in psychedelics are people like Dr. Matthew Johnson – who I mentioned earlier, Rick Doblin, David Nichols, Dennis McKenna, Rachel Yehuda, Daniel Carcillo and Paul Stamets just to name a few, but there are plenty of others. The leading industry companies that I personally see doing real work out there next to Mydecine are (in no particular order): MAPS; Cybin; Entheotech; Numinus; MagicMed; CaamTech; Gilgamesh; The Beckly Foundation. I’m sure there are other companies doing significant work as well, but these are the companies that come to mind.

Overall, we truly hope this industry breaks the mold of classic dog-eat-dog scenarios of other major industries and finally finds a way to create a strong network of collaboration, so that we all rise together in this renaissance.

 

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Always do your own research and make your own investment decisions. This is not a solicitation to purchase or sell securities. Psychedelic Finance is not a registered investment advisor and does not purport to provide investment advice, whether implied or otherwise. Psychedelic Finance does not independently verify the accuracy or the truth of the statements or representations made by issuers. This message is meant for information and educational purposes only and Psychedelic Finance does not intend for this information to be used to inform an investment decision.

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The Next Step for Legal Mushrooms—Losing the Trip

The latest push in the burgeoning psychedelic industry is to lose the whole pesky “psychedelic” element, and it has a surprise backer in the late Bob Marley.

The shroom industry is calling them “functional mushrooms”—a tip of the spear marketing move attempting to legitimize the image of fungi as medicine, without promising far-out, potentially transformative trips that most people associate with psychedelics.

Just what are “functional mushrooms”? They’re basically legal fungi supplements boasting various health benefits, none of which are hallucinatory, mind-expanding, or especially psychedelic in nature.

But Silo Wellness, a Canadian-based company that currently offers a range of guided magic mushroom retreats in the coastal resort mecca of Montego Bay, Jamaica (where many psychedelic drugs are legal), is hoping these shroomy supplements can help capture the emerging psychedelic market, valued at roughly US$4.5 billion as of 2020. And they’re doing this with celebrity brand recognition.

Silo has partnered with the family of the late reggae pioneer Bob Marley to launch Marley One, a functional mushroom line—tinctures incorporating mushrooms such as lion’s mane, chaga, and reishi—while eyeing an eventual, legal, psychedelic product. As Silo CEO Douglas K. Gordon describes it, in terms consistent with Marley’s own Rastafarian beliefs, “It goes more to plant medicine; it goes more to mindfulness. It goes more to embracing the fact that the Earth has its own capacity for healing.”

Rita Marley (who prefers to be addressed as Mrs. Marley), widow of the late Bob, echoes these sentiments in a statement. “Bob and I followed a strict natural diet that included mushrooms of all kinds,” Ms. Marley said. “We were always mindful of what we consumed and held a deep respect for nature’s bounty—knowing that what we take from the Earth and put into our bodies affects our minds and spirits, too.”

Mindful eating and respect for nature: that’s all well and good. But where do the psychedelics fit in? Excepting, of course, the worshipful use of cannabis (or ganja) as a sacrament, Rastafarianism generally abhors the consumption of other drugs. The only reference I could track down to Bob Marley himself speaking about psychedelics was in a September 1976 issue of High Times magazine. Asked if he has ever taken LSD, Marley responded: “Me hear ‘bout people who do it. No, me meet people who do it, an’ dem tell me.”

But attitudes around psychedelics are changing rapidly. And so, it follows, some Rastafarian attitudes may well be changing with them.

“Modern science is slow,” Mrs. Marley wrote. “Only now is it catching up with what Indigenous communities and practitioners have known to be true for millennia… From a Rastafarian perspective, I don’t discriminate. We honor and respect all of nature’s bounty that Jah has blessed us with and whether through ganja or fungi, we seek, above all, a greater oneness with the world around us.”

The Silo-Marley partnership speaks to ways in which the ongoing “shroom boom” seems to be following from the cannabis playbook. In many ways, comparisons between psilocybin and cannabis are, at a chemical level, largely useless. They’re different drugs, with wildly different effects and applications. Still, in the (still largely hypothetical) marketplace of legal shrooms, it helps to think of functional mushrooms as the CBD to psilocybin’s THC: a kissing cousin, with (alleged) medical and therapeutic benefits, useful largely as a way of destigmatizing the use of a more potent compound.

Gordon, himself a veteran of medicinal CBD, draws the comparison. “We looked at the lessons from the cannabis and CBD landscape,” he said. “We have that final mile to the consumer; we have a brand that they can understand, they can believe in, and they’re curious to find out more.”

On the one hand, functional mushrooms can seem like training wheels, acclimating users to the very idea of consuming fungi, and fostering curiosity about the effects profile of psychedelic mushrooms. On another, they can feel a bit like they’re stealing psychedelic valour: benefitting from the ever-building buzz around the benefits of psychedelics, while offering none of those same benefits. Really, these fungi supplements aren’t much different from medicinal mushrooms one might find at Asian supermarkets or herbal supplements stores. Just, you know, trippier. Or at least trippier-seeming. And it remains unclear just how much demand there is for such products from consumers.

The Marleys—who currently lend their name and iconic branding to a cannabis line, a coffee company, and a range of BlueTooth speakers and earbud headphones, and who, in 2017, appointed Rohan Marley as family’s own “brand ambassador”—aren’t the only ones moving into the “functional mushroom” space. Rapper and weed entrepreneur Berner, the guy behind the U.S.-based cannabis brand Cookies, recently launched Caps By Cookies, a CBD/functional mushroom with distinctly psychedelic branding, despite its lack of psychedelic outcomes.

Denver-based Mydecine, another player attempting to capitalize on the increased legitimacy afforded psychedelics, is developing function mushroom products as another potentially lucrative skew. Last week, Vancouver-based NeonMind unveiled a line of branded functional mushroom-infused coffee products.

It’s an interesting play, suggesting the widespread beshrooming of a whole sector of the health and wellness industries. But anyone hoping for a proper, psychedelic, totally legal, Marley-approved trip will have to wait for actual psilocybin mushrooms to enter the legal market, still some time away even in drug progressive places like Canada (and some U.S. states). For the super eager, there’s always those swanky Montego Bay retreats, replete with guided psychedelic sessions. Bob Marley claimed that “herb is the healing of the nation.”  For his family, fungus now seems to work that same magic.

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The Next Step for Legal Mushrooms—Losing the Trip

The latest push in the burgeoning psychedelic industry is to lose the whole pesky “psychedelic” element, and it has a surprise backer in the late Bob Marley.

The shroom industry is calling them “functional mushrooms”—a tip of the spear marketing move attempting to legitimize the image of fungi as medicine, without promising far-out, potentially transformative trips that most people associate with psychedelics.

Just what are “functional mushrooms”? They’re basically legal fungi supplements boasting various health benefits, none of which are hallucinatory, mind-expanding, or especially psychedelic in nature.

But Silo Wellness, a Canadian-based company that currently offers a range of guided magic mushroom retreats in the coastal resort mecca of Montego Bay, Jamaica (where many psychedelic drugs are legal), is hoping these shroomy supplements can help capture the emerging psychedelic market, valued at roughly US$4.5 billion as of 2020. And they’re doing this with celebrity brand recognition.

Silo has partnered with the family of the late reggae pioneer Bob Marley to launch Marley One, a functional mushroom line—tinctures incorporating mushrooms such as lion’s mane, chaga, and reishi—while eyeing an eventual, legal, psychedelic product. As Silo CEO Douglas K. Gordon describes it, in terms consistent with Marley’s own Rastafarian beliefs, “It goes more to plant medicine; it goes more to mindfulness. It goes more to embracing the fact that the Earth has its own capacity for healing.”

Rita Marley (who prefers to be addressed as Mrs. Marley), widow of the late Bob, echoes these sentiments in a statement. “Bob and I followed a strict natural diet that included mushrooms of all kinds,” Ms. Marley said. “We were always mindful of what we consumed and held a deep respect for nature’s bounty—knowing that what we take from the Earth and put into our bodies affects our minds and spirits, too.”

Mindful eating and respect for nature: that’s all well and good. But where do the psychedelics fit in? Excepting, of course, the worshipful use of cannabis (or ganja) as a sacrament, Rastafarianism generally abhors the consumption of other drugs. The only reference I could track down to Bob Marley himself speaking about psychedelics was in a September 1976 issue of High Times magazine. Asked if he has ever taken LSD, Marley responded: “Me hear ‘bout people who do it. No, me meet people who do it, an’ dem tell me.”

But attitudes around psychedelics are changing rapidly. And so, it follows, some Rastafarian attitudes may well be changing with them.

“Modern science is slow,” Mrs. Marley wrote. “Only now is it catching up with what Indigenous communities and practitioners have known to be true for millennia… From a Rastafarian perspective, I don’t discriminate. We honor and respect all of nature’s bounty that Jah has blessed us with and whether through ganja or fungi, we seek, above all, a greater oneness with the world around us.”

The Silo-Marley partnership speaks to ways in which the ongoing “shroom boom” seems to be following from the cannabis playbook. In many ways, comparisons between psilocybin and cannabis are, at a chemical level, largely useless. They’re different drugs, with wildly different effects and applications. Still, in the (still largely hypothetical) marketplace of legal shrooms, it helps to think of functional mushrooms as the CBD to psilocybin’s THC: a kissing cousin, with (alleged) medical and therapeutic benefits, useful largely as a way of destigmatizing the use of a more potent compound.

Gordon, himself a veteran of medicinal CBD, draws the comparison. “We looked at the lessons from the cannabis and CBD landscape,” he said. “We have that final mile to the consumer; we have a brand that they can understand, they can believe in, and they’re curious to find out more.”

On the one hand, functional mushrooms can seem like training wheels, acclimating users to the very idea of consuming fungi, and fostering curiosity about the effects profile of psychedelic mushrooms. On another, they can feel a bit like they’re stealing psychedelic valour: benefitting from the ever-building buzz around the benefits of psychedelics, while offering none of those same benefits. Really, these fungi supplements aren’t much different from medicinal mushrooms one might find at Asian supermarkets or herbal supplements stores. Just, you know, trippier. Or at least trippier-seeming. And it remains unclear just how much demand there is for such products from consumers.

The Marleys—who currently lend their name and iconic branding to a cannabis line, a coffee company, and a range of BlueTooth speakers and earbud headphones, and who, in 2017, appointed Rohan Marley as family’s own “brand ambassador”—aren’t the only ones moving into the “functional mushroom” space. Rapper and weed entrepreneur Berner, the guy behind the U.S.-based cannabis brand Cookies, recently launched Caps By Cookies, a CBD/functional mushroom with distinctly psychedelic branding, despite its lack of psychedelic outcomes.

Denver-based Mydecine, another player attempting to capitalize on the increased legitimacy afforded psychedelics, is developing function mushroom products as another potentially lucrative skew. Last week, Vancouver-based NeonMind unveiled a line of branded functional mushroom-infused coffee products.

It’s an interesting play, suggesting the widespread beshrooming of a whole sector of the health and wellness industries. But anyone hoping for a proper, psychedelic, totally legal, Marley-approved trip will have to wait for actual psilocybin mushrooms to enter the legal market, still some time away even in drug progressive places like Canada (and some U.S. states). For the super eager, there’s always those swanky Montego Bay retreats, replete with guided psychedelic sessions. Bob Marley claimed that “herb is the healing of the nation.”  For his family, fungus now seems to work that same magic.

Follow John Semley on Twitter.

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Psyence Group and UK Psychedelic CRO Partners to Conduct UK Palliative Care Clinical Trial

TORONTO, ON: July , 2021 – Psyence Group Inc. (CSE: PSYG) (“Psyence” or the “Company”), a life science biotechnology company pioneering the use of natural psychedelics in mental health and well-being, is pleased to announce it has signed a partnership agreement with Clerkenwell Health (“Clerkenwell”). Clerkenwell is a leading psychedelic Contract Research Organisation (CRO) based in the United Kingdom.

Psyence is developing market leading clinical trials in the field of palliative care and has partnered with Clerkenwell, which will be responsible for jointly designing and delivering the UK clinical trial. Palliative care is the treatment and alleviation of suffering for those facing a serious acute or persistent medical issue, whether the prognosis is deemed terminal or chronic and ongoing. European Director Xan Morgan, based in the United Kingdom, will work closely with Clerkenwell to ensure the successful delivery of the project.

Psyence’s palliative care clinical trials are being designed by Dr. Dingle Spence, a Palliative Care Specialist and Psyence’s Medical Advisor. “There is an historic opportunity for psychedelics such as psilocybin to play a significant role in Palliative Care. We are interested in helping alleviate the many symptoms and conditions experienced by people dealing with serious illness including anxiety and depression, existential distress, quality of life concerns, and issues around grief and bereavement, using a Palliative Care lens that will provide a more holistic approach to their therapy,” says Dr. Spence.

Psyence recently strengthened its executive team with the appointment of biopharmaceutical stalwart Dr Neil Maresky, M.B, B.Ch. as Chief Executive Officer. Dr. Maresky has been instrumental in the launch, commercialization, and uptake of many ground-breaking medical innovations in North America.

“As we embark on our journey to commence a clinical trial we are excited to see the promising results from other early-stage clinical trials, which show the efficacy of psychedelic therapies across a multitude of mental health conditions,” says Dr Maresky, “Clerkenwell’s expertise, depth of knowledge and progressive thinking made them the ideal partner to collaborate with.”

“The United Kingdom is increasingly becoming a destination for medical psychedelic trials and a number of listed companies have successfully established and completed their Phase 1 and Phase 2 clinical trials in the market. However, these companies have typically focused their research on synthetic compounds, while Psyence’s trial will use natural psilocybin produced at our federally licensed facility in Lesotho in Southern Africa,” Maresky says.

Psyence’s federally licensed commercial psilocybin cultivation and production facility produces certified, high-quality psilocybin yielding mushrooms for research and development purposes for research centres and universities. Designed and constructed to The British Standards Institute (BSI) and Good Manufacturing Practice (GMP) standards, the facility is equipped with specialised equipment to ensure optimum growing conditions and efficient harvesting and packaging.

“Having designed our own trial examining different doses of psilocybin and digitally-supported therapy for the treatment of depression, we are delighted to draw on our experience and provide advisory and operational support to Psyence. We will help them establish the procedures and protocols required to successfully run a clinical trial in order to gain regulatory approval for their products,” says CEO of Clerkenwell Health, Tom McDonald.

Psyence will apply for the necessary approvals in order to commence its clinical trial. The trial will be conducted in the United Kingdom and will be aligned with European, Canadian and US clinical trial guidelines.

About Psyence

Psyence, a public life science biotechnology company listed on the Canadian Securities Exchange (CSE: PSYG), sets the global standard for natural psychedelics. Psyence leads the way in natural psilocybin and other psychedelics for the healing of psychological trauma and its mental health consequences in the context of palliative care. Our name “Psyence” combines the words psychedelic and science to affirm our commitment to producing psychedelic medicines developed through evidence-based research.

Informed by nature and guided by science, we built and operate one of the world’s first federally licensed commercial psilocybin mushroom cultivation and production facilities. Our team brings international experience in both business and science and includes experts in mycology, neurology, and drug development.  We work to develop advanced psilocybin products and other psychedelic breakthroughs for research institutes, clinics, therapeutic immersions, and destination experiences for clinical research. We are also developing a nutraceutical mental wellness collection that supports improved focus, calm, and sleep.

Our four key divisions (Psyence Production, Psyence Therapeutics, Psyence Function, and Psyence Experience) anchor an international footprint with operations in Canada, United States, United Kingdom, Jamaica, Brazil, South Africa, and Australia.  www.psyence.com

About Clerkenwell Health

Clerkenwell Health is an innovative, UK-based mental health start-up building a platform to accelerate patients’ access to a range of psychedelic-assisted therapies over the coming years. Clerkenwell is focused on generating the clinical data required to mainstream these exciting treatment methodologies with doctors and regulators alike. The team is led by CEO Tom McDonald, a former Accenture pharmaceutical specialist with a focus on patient-centric care and CSO Dr Henry Fisher, a chemist and drug policy expert. Patient therapy is led by Dr Sara Tai, a clinical psychologist, a Senior Lecturer in Clinical Psychology at the University of Manchester and an expert in psychotherapy in clinical trials of psychedelic medicine.  www.clerkenwellhealth.com

For more information

Lisa-Marie Iannitelli

Investor Relations

ir@psyence.com

Media Inquiries: media@psyence.com

General Information: info@psyence.com

Certain statements in this news release related to Psyence Group Inc and its subsidiaries (collectively “the Company“) are forward-looking statements and are prospective in nature. Forward-looking statements are not based on historical facts, but rather on current expectations and projections about future events and are therefore subject to risks and uncertainties which could cause actual results to differ materially from the future results expressed or implied by the forward-looking statements. These statements generally can be identified by the use of forward-looking words such as “may”, “should”, “could”, “intend”, “estimate”, “plan”, “anticipate”, “expect”, “believe” or “continue”, or the negative thereof or similar variations. Forward-looking statements in this news release include statements regarding the future operations of the Company and future product development and commercialization which shall be dependent on  the obtaining of all such licenses, registrations and consents as may be required from regulatory and governmental authorities regulating such products and activities referred to in this news release. There are numerous risks and uncertainties that could cause actual results and the Company’s plans and objectives to differ materially from those expressed in the forward-looking information. Actual results and future events could differ materially from those anticipated in such information. These and all subsequent written and oral forward-looking information are based on estimates and opinions of management on the dates they are made and are expressly qualified in their entirety by this notice. Except as required by law, the Company does not intend to update these forward-looking statements.

The Company makes no medical, treatment or health benefit claims about the Company’s proposed products. The U.S. Food and Drug Administration, Health Canada or other similar regulatory authorities have not evaluated claims regarding psilocybin, psilocybin analogues, or other psychedelic compounds or nutraceutical products. The efficacy of such products has not been confirmed by approved research. There is no assurance that the use of psilocybin, psilocybin analogues, or other psychedelic compounds or nutraceuticals can diagnose, treat, cure or prevent any disease or condition. Vigorous scientific research and clinical trials are needed. The Company has not conducted clinical trials for the use of its proposed products. Any references to quality, consistency, efficacy, and safety of potential products do not imply that the Company verified such in clinical trials or that the Company will complete such trials. If the Company cannot obtain the approvals or research necessary to commercialize its business, it may have a material adverse effect on the Company’s performance and operations.

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OPTIMI HEALTH INITIATES PATHWAY TO NASDAQ LISTING

VANCOUVER, BC (July 7, 2021) — Optimi Health Corp. (CSE: OPTI) (OTC: OPTHF) (FRA: 8BN) (“Optimi” or the “Company”), a vertically integrated developer of mushroom products announced today that it has engaged the consulting services of Donohoe Advisory Associates LLC (“Donohoe Advisory”) to explore strategies to advance towards a potential Nasdaq listing.

Donohoe Advisory (www.donohoeadvisory.com), which provides listing related consulting services to public companies and law firms, was formed in 2004 by David A. Donohoe, Jr., former Chief Counsel for the Listing Qualifications Department of The Nasdaq Stock Market. Mr. Donohoe is joined by four ex-Nasdaq and NYSE staff members.

“We welcome the opportunity to work with Optimi,” notes Mr. Donohoe. “It’s a new, exciting and active sector and there are several industry peers which have achieved senior exchange listing with notable success. We believe Optimi’s fundamental approach, business model and early-stage success can pave the way forward to achieve their market ambitions.”

Optimi Health’s CEO Mike Stier states, “We have long felt that Optimi presents a business combination that could achieve a senior listing. With today’s announcement we have begun the next major step towards that goal and are excited by the possibilities ahead.”

On Behalf of the Board of Directors, Optimi Health Corp.

Mike Stier
President, Chief Executive Officer and Director

ABOUT OPTIMI (CSE: OPTI) (OTC: OPTHF) (FRA: 8BN)
Optimi is developing a sophisticated mushroom brand that focuses on the health and wellness markets. With a vertically integrated approach, Optimi intends to cultivate, extract, process and distribute high quality functional mushroom products at its two facilities comprising a total of 20,000 square feet nearing completion in Princeton, British Columbia. To fully investigate the science of mushrooms, the Company has received a research exemption under Health Canada Food and Drug Regulations (FDR) for the use of Psilocybin and Psilocin for scientific purposes via its wholly owned subsidiary Optimi Labs Inc. Optimi has also applied for a dealer’s license under Canada’s Narcotic Control Regulations governing possession, distribution, sale, laboratory analysis of and research and development of Psilocybin and Psilocin formulations. Optimi is committed to expert cultivation and quality production subject to and in accordance with the terms of all applicable laws and governing regulations to ensure safe, superior Canadian fungi production. Find out more at: https://optimihealth.ca/.

FOR FURTHER INFORMATION CONTACT:
Investor Relations
Email: investors@optimihealth.ca
Phone: +1 (778) 930-1321
Web: https://optimihealth.ca/

FORWARD‐LOOKING STATEMENTS
This news release contains forward‐looking statements and forward‐looking information within the meaning of Canadian securities legislation (collectively, “forward‐looking statements”) that relate to Optimi’s current expectations and views of future events. Any statements that express, or involve discussions as to, expectations, beliefs, plans, objectives, assumptions or future events or performance (often, but not always, through the use of words or phrases such as “will likely result,” “are expected to,” “expects,” “will continue,” “is anticipated,” “anticipates,” “believes,” “estimated,” “intends,” “plans,” “forecast,” “projection,” “strategy,” “objective,” and “outlook”) are not historical facts and may be forward‐looking statements and may involve estimates, assumptions and uncertainties which could cause actual results or outcomes to differ materially from those expressed in such forward‐looking statements. No assurance can be given that these expectations will prove to be correct and such forward‐looking statements included in this news release should not be unduly relied upon. These statements speak only as of the date of this news release. In particular and without limitation, this news release contains forward‐ looking statements pertaining to the Company’s potential Nasdaq listing, the dealer’s license application, activities proposed to be conducted under the Company’s research exemption and associated business related to Psilocybin and Psilocin and Optimi’s plans, focus and objectives.

Forward‐looking statements are based on a number of assumptions and are subject to a number of risks and uncertainties, many of which are beyond Optimi’s control, which could cause actual results and events to differ materially from those that are disclosed in or implied by such forward‐looking statements. Such risks and uncertainties include, but are not limited to, the impact and progression of the COVID‐19 pandemic and other factors set forth under “Forward‐Looking Statements” and “Risk Factors” in the Company’s Final Prospectus dated February 12, 2021. Optimi undertakes no obligation to update or revise any forward‐looking statements, whether as a result of new information, future events or otherwise, except as may be required by law. New factors emerge from time to time, and it is not possible for Optimi to predict all of them or assess the impact of each such factor or the extent to which any factor, or combination of factors, may cause results to differ materially from those contained in any forward‐looking statement. Any forward‐looking statements contained in this news release are expressly qualified in their entirety by this cautionary statement.

The CSE does not accept responsibility for the adequacy or accuracy of this release.

 

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Delic Completes Acquisition Of Ketamine Infusion Center Clinics

Closing of Acquisition Expands Delic’s Self-Sustaining Ecosystem with Existing Media/Education Platforms and Product Development Lab

VANCOUVER, BC, July 6, 2021 /PRNewswire/ – Delic Holdings, Inc. (“DELIC” or the “Company“) (CSE: DELC) (OTCQB: DELCF), the leading psychedelic wellness platform has completed its acquisition (the “Acquisition“) of Ketamine Infusion Centers LLC (“KIC“). KIC is a limited liability corporation formed under the laws of Arizona, which owns and operates two ketamine infusion treatment clinics, one in Phoenix, Arizona and the other in Bakersfield, California (the “Transaction“). Supported by clinical trials and peer reviewed studies, ketamine infusions have emerged as a promising treatment option for chronic diseases and pain disorders. The successful completion of the transaction brings a physical retail footprint of health clinics to the DELIC ecosystem where it can leverage its IP, product development and audience capture through its various leading media properties.

Acquisition Highlights

  • The closing establishes DELIC as a diversified psychedelics organization. KIC has been growing steadily with revenues in ‎excess of USD$1.5 million since 2019
  • KIC will be one of the largest ketamine clinics, pending upcoming expansion. KIC will double its footprint to four (4) physical locations in California and Arizona.
  • KIC will be strategically positioned to leverage DELIC platform and brand: DELIC expects to drive patients to KIC through its media platform and become a national leader
  • Established history of providing ketamine infusion services. The management team at KIC has administered more than 4,000 treatments, and over 3 years has expanded services throughout the United States
  • Management expertise. The acquisition of KIC adds a team of 6 medical professionals and ‎employees bringing a wealth of industry ‎experience and knowledge to DELIC

“When we announced the KIC transaction it was to under the premise of adding cash-flowing, scalable companies to round out the rest of the ecosystem on our platform, and that is what this closing will realize,” said Matt Stang, Founder and CEO of DELIC. “The DELIC team is committed to making psychedelic wellness accessible to the masses and with this chain of clinics we are making that vision possible.”

“Today’s closing ensures we can execute on our growth strategy of leveraging DELIC’s media properties to drive patient acquisition,” Sonny Diaz, Co-Founder of KIC stated. “This closed ecosystem of media properties, a lab to produce high-quality and innovative products, and a national chain of health clinics at the center is a game changer for scaling psychedelic wellness. KIC’s history of profitability and our management team with decades of experience in the health sector and successful exits of over two dozen clinics and hospitals will enable DELIC to be the national leader in legal psychedelic treatment.”

With the KIC closing, DELIC expands from its hub of psychedelic education, media, and information properties and licensed lab and IP company (DELIC Labs) to the ability to provide patients with psychedelic therapy. DELIC is uniquely positioned to bring digital awareness to its various holdings under the DELIC umbrella, and drive online users to brick and mortar clinics.

Over the last 3 years, the team at KIC has expanded from Arizona to California, while overseeing 4,000 treatments delivered to date, and generating over USD$1.5MM in revenue. KIC will operate under the DELIC umbrella, under the direction and guidance of Dr. Christopher Ray, Sonny Diaz, Rogelio Monzon, and Ganesh Acharya.

Summary of Transaction

Delic acquired all of the issued and outstanding securities of KIC from its members in a reverse triangular merger for a purchase price of up to USD$3,050,000 (the “Purchase Price”) paid as follows: (i) USD$2,250,000 in consideration shares issued on the closing date representing 89,130 multiple voting shares of Delic (or the equivalent of 8,913,000 subordinate voting shares) (the “Closing Date Payment”); and  (ii) USD$800,000 in consideration shares to be issued on the date KIC’s Bakersfield, California clinic achieves a net profit in three consecutive months in the twelve months following the closing date, while achieving minimum revenues of USD$125,000 in the same three month period (the “Bakersfield Milestone Payment”) plus certain amounts, ‎if any, to be earned by each of Sonny Diaz, Rogelio Monzon, and Ganesh Acharya, pursuant to a respective Milestone Agreement (as defined ‎below). The Closing ‎Date Payment was satisfied by DELIC through the issuance to KIC members of the ‎number of consideration shares equal in value to the Closing Date Payment amount, ‎issued at a price per share equal to the ten (10) trading day volume ‎weighted average price (“VWAP”) of such consideration shares on the Canadian ‎Securities Exchange (the “Exchange”) on the trading day immediately prior to the ‎closing date (representing a price of $0.3114 per share).‎

Each of Sonny Diaz, Rogelio Monzon, and Ganesh Acharya also entered into a milestone agreement (the “Milestone Agreement”) ‎whereby they may each receive their pro rata proportion of an amount equal to USD$150,000 for each new clinic opened by KIC that is cash flow positive for three consecutive months after opening while achieving minimum revenues of USD$175,000 in those three consecutive months (each a “New Clinic Milestone”) subject to certain conditions of continued employment or engagement with KIC. Such additional consideration is satisfied by DELIC’s issuance of ‎additional consideration shares at a price per share equal to the ten (10) trading day ‎VWAP of the consideration shares on the Exchange on the trading day prior to the ‎date the Milestone is reached. ‎

About DELIC Corp.

DELIC is the leading psychedelic wellness platform, committed to bringing science-backed benefits to all and reframing the psychedelic conversation. The company owns and operates an umbrella of related businesses, including trusted media and e-commerce platforms like Reality Sandwich and DELIC Radio,DELIC Labs, the only licensed entity by Health Canada to exclusively focus on research and development of psilocybin vaporization technology, Meet DELIC the premiere psychedelic wellness event, and Ketamine Infusion Centers, one of the largest ketamine clinics in the country. DELIC is backed by a team of industry and cannabis veterans and a diverse network, whose mission is to provide education, research, high-quality products, and treatment options to the masses.

The Canadian Securities Exchange ‎has neither approved nor disapproved the contents of this news release and does not accept responsibility ‎for the adequacy or accuracy of this release.‎

This news release does not constitute an offer to sell, or a solicitation of an offer to buy, any securities ‎in the United States. The securities have not been and will not be registered ‎under the United States ‎Securities Act of 1933, as amended (the “U.S. Securities Act“), or any state ‎securities laws and may not be offered or ‎sold within the United States unless registered under the U.S. ‎Securities Act and applicable state securities laws or an ‎exemption from such registration is available.‎

Forward-Looking Information and Statements

This press release contains certain “forward-looking information” within the meaning of applicable ‎Canadian securities ‎legislation and may also contain statements that may constitute “forward-looking ‎statements” within the meaning of ‎the safe harbor provisions of the United States Private Securities ‎Litigation Reform Act of 1995. Such forward-looking ‎information and forward-looking statements are not ‎representative of historical facts or information or current ‎condition, but instead represent only the ‎Company’s beliefs regarding future events, plans or objectives, many of ‎which, by their nature, are ‎inherently uncertain and outside of DELIC’s control. Generally, such forward-looking ‎information or ‎forward-looking statements can be identified by the use of forward-looking terminology such as ‎‎”plans”, ‎‎”expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, ‎‎‎”anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or may ‎contain ‎statements that certain actions, events or results “may”, “could”, “would”, “might” or “will be ‎taken”, “will continue”, ‎‎”will occur” or “will be achieved”. The forward-looking information and forward-‎looking statements contained herein ‎may include, but are not limited to, information concerning listing on the Canadian Securities Exchange, anticipated continued growth in the health and wellness sector (and, in particular, related to psychedelics), the continued emergence of psychedelics from stigmas, the ability of the Company to maintain sensible messaging, the ability of the Company to avoid dogmatic practices and binary rhetoric‎, the ability of DELIC to successfully achieve business ‎objectives, ‎and expectations ‎for other economic, ‎business, and/or competitive factors.‎

By identifying such information and statements in this manner, DELIC is alerting the reader that ‎such ‎information and statements are subject to known and unknown risks, uncertainties and other factors ‎that may cause ‎the actual results, level of activity, performance or achievements of DELIC to be ‎materially different from those ‎expressed or implied by such information and statements. In addition, in connection with the forward-looking ‎information and forward-looking statements contained in this press ‎release, DELIC has made certain ‎assumptions. Among the key factors that could cause actual ‎results to differ materially from those projected in the ‎forward-looking information and statements are the ‎following: the ability to consummate the Transaction; ‎ the potential consummation of any milestone events and the completion of the Transaction on ‎relationships, ‎including with regulatory bodies, employees, suppliers, customers and competitors; ‎changes in general economic, ‎business and political conditions, including changes in the financial ‎markets; changes in applicable laws; compliance ‎with extensive government regulation; and the diversion ‎of management time on the Transaction.‎

Should one or more of these risks, uncertainties or other factors materialize, or should assumptions ‎underlying the ‎forward-looking information or statements prove incorrect, actual results may vary ‎materially from those described ‎herein as intended, planned, anticipated, believed, estimated or ‎expected.‎

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Numinus Wellness To Acquire Neurology Centre of Toronto, Plans to Create Centre for Psychedelic Neurology

NCT’s treatment of neurological disorders combined with Numinus’ leadership in psychedelic-assisted therapy will offer opportunity to treat a range of chronic neurological conditions and common concurrent mental health challenges

VANCOUVER (July 6, 2021) – Numinus Wellness Inc. (“Numinus” or the “Company”) (TSXV: NUMI), a mental health care company advancing innovative treatments and safe, evidence-based psychedelic-assisted therapies, is pleased to announce that the Company has agreed to acquire the Neurology Centre of Toronto (“NCT”) pursuant to a purchase agreement dated July 2, 2021. Numinus and NCT founder Dr. Evan Lewis plan to expand NCT into a comprehensive clinical neurology treatment centre with a unique specialization in the application of psychedelics in the field of neurology.

Numinus will pay $300,000 in cash and $200,000 in Numinus shares upon closing and future performance-based payments totaling up to $500,000 in Numinus shares to complete the transaction. The transaction is subject to a number of conditions, including the approval of the TSX Venture Exchange. As of the date hereof, Numinus and NCT management have completed their due diligence. The Company anticipates that the acquisition of NCT will be completed by the end of August 2021.

Transaction Highlights:

  • Numinus to acquire a fully operational neurology centre with 13 doctors, 8 allied health staff, nurse practitioners and physician assistants. Gross revenues for the centre grew more than 25% to approximately $1 million for the year ended December 31, 2020, while net revenue grew 25% to $454,000 for the same period.
  • NCT offers experience managing patients with common neurological conditions and associated chronic psychological disorders for whom there is potential to benefit from psychedelic-assisted psychotherapy.
  • NCT’s expertise in clinical neurology and associated mental health disorders will be integrated with Numinus’ leadership in psychedelic-assisted psychotherapy to establish the field of psychedelic neurology, to develop strategies and treatments for those with select neurological and concurrent disorders.
  • NCT and Numinus plan to establish the first centre for excellence in psychedelic neurology, comprising highly specialized neurology experts with an understanding of how psychedelics can safely and positively impact patients with neurologic illnesses and associated mental health challenges.
  • Numinus to leverage and grow NCT’s information technology-based virtual rapid access care model to streamline and scale pathways for patients to access psychedelic-assisted psychotherapies.
  • Dr. Lewis, recognized for advancing the use of medical cannabis to treat complex neurologic disorders, will join Numinus as VP, Psychedelic Neurology Services upon completion of the acquisition.

“Our collaboration with Numinus represents an important evolution in patient care for individuals suffering from common neurological illnesses and challenges that are often associated with chronic mental health conditions,” said Dr. Lewis, a neurologist and clinical neurophysiologist who founded NCT in 2017. “While today’s treatments help many patients, a significant number continue to suffer and, we believe, may be helped by psychedelic-assisted psychotherapy.”

Currently, therapies for common neurological disorders such as concussion, migraine and cluster headache, neuropathic pain syndromes and chronic epilepsy have limitations, especially when these disorders are associated with chronic psychological challenges. The need to develop novel therapies that address both medical and psychological components of neurological diseases may be substantial and the potential impact could be significant.

Numinus and NCT are coming together to explore and develop applications of psychedelic-assisted therapies to reduce patient suffering and enable greater opportunities for healing. Current research shows that psychedelic medications such as psilocybin and MDMA open new pathways in the brain that, in conjunction with professional therapy, can treat a host of mental health disorders.

“This acquisition represents an exciting opportunity for NCT and Numinus to combine medical, clinical and academic expertise to help create a new discipline and ultimately a centre for excellence in psychedelic neurology,” said Dr. Evan Wood, Chief Medical Officer, Numinus. “In doing so, this collaborative discipline could potentially make a transformative difference for many patients.”

In addition, NCT has developed a virtual rapid access model for patient intake and evaluation that is efficient, team-based and readily modifiable to support specialized programs across various disciplines. The rapid access model is cost-effective, supports and streamlines patient care, reduces wait lists, addresses some barriers to care, and has scale potential. NCT and Numinus will explore how this innovative model can support the development and delivery of efficient, patient-centered psychedelic-assisted psychotherapy.

“I continue to be humbled by the quality of people joining Numinus and acting with us on our ambition to help people heal and be well,” said Payton Nyquvest, Numinus CEO and Chair. “The acquisition of NCT reflects our thoughtful expansion strategy to add clinics that offer revenue-generating services, accretive assets and innovative leadership that maintains our position at the forefront of client care and psychedelic-assisted therapy.”

All of NCT’s staff – including medical doctors, nurses, physician assistants, occupational therapists, psychotherapists, physiotherapists, nutritionists and administrative staff – are expected to remain with Numinus post transaction closing.

For more on the acquisition from Numinus CEO Payton Nyquvest, Dr. Evan Wood and Dr. Evan Lewis, please review this short video:

About Dr. Evan Lewis

Dr. Evan Cole Lewis, MD, FRCPC, CSCN EEG Diplomate, is a pediatric neurologist and clinical neurophysiologist with expertise in epilepsy, epilepsy surgery, electroencephalography and virtual medicine. He is considered an innovative leader in the use of cannabinoids for neurological disorders in adults and children.

Dr. Lewis is an Adjunct Assistant Professor at the University of Toronto and a Fellow of the Royal College of Physicians of Canada. He obtained his MD from the University of Ottawa and trained as a pediatric neurologist at the Children’s Hospital of Eastern Ontario. He completed fellowships in both clinical neurophysiology and epilepsy at Nicklaus Children’s Hospital and Toronto’s Hospital for Sick Children. Dr. Lewis was a staff neurologist, clinical neurophysiologist and the Director of the Epilepsy Fellowship Training Program at the Hospital for Sick Children between 2015 and 2016.

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On behalf of the board of Numinus Wellness Inc.

Payton Nyquvest

President, Chief Executive Officer and Chair

About Numinus

Numinus Wellness (TSX-V: NUMI) helps people to heal and be well through the development and delivery of innovative mental health care and access to safe, evidence-based psychedelic-assisted therapies. The Numinus Wellness model – including psychedelic production, research and clinic care – is at the forefront of a transformation aimed at healing rather than managing symptoms for depression, anxiety, trauma, pain and substance abuse. At Numinus, we are leading the integration of psychedelic-assisted therapies into mainstream clinical practice, and building the foundation for a healthier society.

Learn more at numinus.ca, and follow us on Facebook, Twitter, and Instagram.

About NCT

NCT is a multi-disciplinary, community-based neurology clinic centrally located in midtown Toronto. NCT utilizes a model of care that brings together neurologists, neurology-related specialists and allied health practitioners to address the complex conditions that affect patients’ health and well-being. Our team assesses a wide range of neurologic conditions and provides specialty care in the areas of epilepsy, concussion, brain injury, multiple sclerosis, headache & migraine and the treatment of neurologic disorders with medical cannabis. NCT strives to deliver comprehensive neurologic care organized around its core values of patient-centred care, collaboration, community, health equity and innovation that focuses on transforming the lives of our patients.

Forward-Looking Statements
This news release contains forward-looking statements within the meaning of applicable securities laws. All statements that are not historical facts, including without limitation, statements regarding future estimates, plans, programs, forecasts, projections, objectives, assumptions, expectations or beliefs of future performance, are “forward-looking statements”. Forward-looking statements can be identified by the use of words such as “plans”, “expects” or “does not expect”, “is expected”, “estimates”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results, events or developments to be materially different from any future results, events or developments expressed or implied by such forward looking statements. Such risks and uncertainties include, among others, dependence on obtaining and maintaining regulatory approvals, including acquiring and renewing federal, provincial, municipal, local or other licences and any inability to obtain all necessary governmental approvals, licences and permits to operate and expand the Company’s facilities; regulatory or political change such as changes in applicable laws and regulations, including federal and provincial legalization of psychedelic therapies, due to inconsistent public opinion, perception of the medical-use of psychedelics, delays or inefficiencies or any other reasons; any other factors or developments which may hinder market growth; the Company’s limited operating history and lack of historical profits; reliance on management; the Company’s requirements for additional financing, and the effect of capital market conditions and other factors on capital availability; competition, including from more established or better financed competitors; the need to secure and maintain corporate alliances and partnerships, including with research and development institutions, customers and suppliers; the development and implementation of medical protocols and treatment standard operating procedures for the use of psychedelic therapies; the Company’s goals to develop and implement partnerships with research organizations and other key players in the integrative mental health industry; the Company’s ability to successfully withstand the economic impact of COVID-19; the medical benefits, safety, efficacy, dosing and social acceptance of psychedelics; the approval and/or success of compassionate access clinical trials; the cultivation and harvest of Psilocybe mushrooms; and the availability of trained personnel and medical professionals. These factors should be considered carefully, and readers are cautioned not to place undue reliance on such forward-looking statements. Although the Company has attempted to identify important risk factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other risk factors that cause actions, events or results to differ from those anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in forward-looking statements. The Company has no obligation to update any forward-looking statement, even if new information becomes available as a result of future events, new information or for any other reason except as required by law.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

For further information:

May Lee

Communications Manager

Numinus

may@numinus.ca

For media inquiries:

Catherine Snider

Kaiser & Partners

catherine.snider@kaiserpartners.com