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Regulatory Approvals Place Numinus Lab at the Forefront of Global Psychedelics Research

Numinus Bioscience adds Ketamine and LSD to licence to produce, assemble and sell a wide variety of psychedelic compounds

VANCOUVER (March 4, 2021) – Numinus Wellness Inc. (“Numinus” or the “Company”) (TSXV: NUMI), a global leader in supporting and expanding the safe, accessible and evidence-based use of psychedelic-assisted psychotherapies (PAP), has received new amendments under Canada’s Controlled Drugs and Substances Act that enhance the Company’s ability to lead psychedelics research and support the global psychedelics sector.

Numinus Bioscience, which operates a state-of-the-art research lab in British Columbia, Canada, recently received amendments to its federal licence to allow the possession, production, assembly, sale, export, and delivery for a wide variety of psychedelics including – for the first time – Ketamine and Lysergic acid diethylamide (LSD). The amendment also supports Numinus Bioscience’s role in these activities related to Mescaline, N,N-Dimethyltryptamine (DMT), N-Methyl-3,4, methylenedioxyamphetamine (MDMA), Psilocin and Psilocybin.

“These amendments are not just exciting for Numinus and our researchers, but also for our partners, clients and potentially academic collaborators in the psychedelics space,” said Sharan Sidhu, Science Officer and General Manager for Numinus Bioscience. “The amendments dramatically expand the work we can do with a far larger group of psychedelics, and open up market-leading and revenue-generating opportunities for Numinus in R&D, psychedelic formulations, research and analysis. Moreover, we can now develop and implement standardized psychedelics testing on top of our existing high throughput capabilities, and formulate and produce psychedelic compounds in finished packaged products for clinical trials, clinical use under exemption, and export.”

Among other valued-added services, the amendments enable Numinus Bioscience to pursue formulation and stability studies to assemble finished products for all approved psychedelics.

Previously, Numinus Bioscience conducted R&D and analytical testing on Psilocybe mushrooms. New amendments allow Numinus Bioscience to conduct all activities related to possession, production, sale, export, delivery and assembly for Psilocybe mushroom fruiting bodies, both whole ground and extracted, to stakeholders that possess a Section 56 exemption.

In addition, the new amendments allow Numinus Bioscience to increase the amount of Psilocin and Psilocybin produced at the lab from 505 grams to 1000 grams annually, consisting of 750 grams of Psilocybin and 250 grams of Psilocin. Health Canada has also acknowledged that the Company can continue to supply verified and validated Psilocybe mushroom spores and tissue culture that do not contain controlled substances to other licensed dealers and can be listed as a supplier. In coming quarters, Numinus Bioscience will prepare to offer the expanded suite of psychedelic products and services allowed by recent amendments.

“The approvals announced today mark a key milestone in advancing the integrated services model we are building to research and ultimately deliver quality therapies to people who may benefit, across the spectrum of mental health disorders,” said Payton Nyquvest, CEO, Numinus. “We know that currently available treatments for mental health disorders are often ineffective and can lead to major unwanted side effects. To date, clinical trials for professionally supervised psychedelic-assisted psychotherapies have shown safety and efficacy, with fewer and less severe side effects than conventional medicines.”

As the first public entity to legally cultivate and extract Psilocybe mushrooms under its dealers’ license, Numinus Bioscience is already a research leader in the psychedelics industry. The BC lab is licensed by Health Canada.

Note

The safety and efficacy of psychedelic-assisted psychotherapy is currently under investigation. It has not yet been approved by Health Canada or the U.S. 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 psychedelic-assisted psychotherapy. These statements necessarily involve known and unknown risks and uncertainties, which may cause actual outcomes to differ materially from projections.

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About Numinus

Numinus Wellness Inc. (TSXV:NUMI) is a health care and research company creating psychedelic-centred solutions to treat mental illness, substance abuse and trauma.

Numinus Health delivers treatments through clinics and virtual services, with clinics in Vancouver and Montreal.

Numinus R&D develops clinical and therapeutic protocols to use in treatments, in collaboration with research partners and regulators.

Numinus Bioscience develops formulations and methods for a safe supply, using Health Canada licences, scientific expertise and cutting-edge technology.

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, due to inconsistent public opinion, perception of the medical-use and adult-use marijuana industry, bureaucratic 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; and 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.

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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Numinus and Syreon Provide Psilocybin Compassionate Access Trial Update

Significant progress made as Numinus-sponsored PRIME study on psilocybin-assisted psychotherapy for opioid, stimulant and/or alcohol use disorders enters pre-implementation stage

VANCOUVER (March 2, 2021) – Numinus Wellness Inc. (“Numinus” or the “Company”) (TSXV: NUMI), a company creating an ecosystem of health solutions centered around developing and supporting the safe, evidence-based, accessible use of psychedelic-assisted psychotherapies (PAP), and Syreon Corporation (Syreon), a global contract research organization with expertise in conducting clinical trials across a broad range of diseases, are pleased to share that significant progress has been made in the single-arm, open-label compassionate access* trial of Psilocybin-Research Intervention with Motivational Enhancement (PRIME) for substance use disorders. Currently in the development stage, the PRIME study will assess the efficacy and safety of psilocybin-assisted motivational enhancement therapy.

The study will contribute to a growing body of research to inform larger randomized controlled trials for these indications. The study will take place in Vancouver and will enroll 30 individuals with opioid, stimulant and/or alcohol use disorders. Syreon is leading the trial as Clinical Research Organization (CRO) with Numinus as the trial sponsor.

Numinus is pleased to share that several key milestones have been met since the trial was announced in November. The protocol is now finalized, having gone through two rounds of external expert peer review by a leading psychedelic research foundation. The overall structure selected for this protocol is consistent with current best practices developed internationally for psilocybin-assisted treatment. The psilocybin administration will occur in the context of a behavioural intervention consisting of motivational enhancement therapy, which is a structured counseling approach based on principles of motivational psychology and is designed to produce rapid, internally motivated change.

“Syreon is pleased to partner with Numinus to conduct this ground-breaking study in substance use disorders,” says Paul Keown, founder and CEO of Syreon. “These are among the most complex and challenging areas of modern healthcare, with enormous clinical and societal consequences. Psilocybin is a promising new therapy for personalized care in this field, and Numinus and Syreon combine the deep medical knowledge and broad trial expertise required for expert research in this expanding area of natural bioactive therapeutics.”

Numinus is also proud to announce the appointment of several key members to the study, including Dr. Lindsay Mackay, MD, CCFP, a clinician-scientist and addictions specialist who has been selected as Principal Investigator. Dr. Mackay is a graduate of the British Columbia Centre on Substance Use, NIDA-funded International Collaborative Addictions Medicine Research Fellowship, and has extensive experience in the exploration of psychedelics and novel therapies as treatments for mental health and addictions. Elena Argento, PhD, MPH, has been appointed Co-Principal Investigator. Argento works collaboratively with the BC Centre on Substance Use to conduct and lead innovative research and interventions in response to the overdose crisis and is a Postdoctoral Researcher at the University of British Columbia.

While psilocybin remains a restricted substance in Canada, the evolving regulatory landscape has shown the potential to enable greater accessibility to psilocybin-assisted psychotherapy, particularly in light of Health Canada’s recent announcement of its intention to revise the Special Access Programme (SAP). The PRIME trial is expected to contribute to the growing interest in expanding access to psilocybin-assisted treatments.

“We have made important progress to develop the framework and a team of experts to conduct this compassionate access trial that will contribute meaningful insights to treatment methods for individuals with opioid, stimulant and/or alcohol use disorders,” said Dr. Evan Wood, Chief Medical Officer, Numinus.

Several new objectives are underway in preparation for the implementation phase, with Syreon, as CRO, initiating study materials. Numinus will continue the ongoing establishment of physical, technical, and human resource infrastructure to support the Compassionate Access trial, with the aim of enabling wider delivery through the SAP, if approved.

*Health Canada recommends compassionate access open-label 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 Expanded Access program, sometimes referred to as “compassionate use” or the Breakthrough Therapy designation.

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About Numinus

Numinus Wellness Inc. (TSXV:NUMI) is a health care and research company creating psychedelic-centred solutions to treat mental illness, substance abuse and trauma.

Numinus Health delivers treatments through clinics and virtual services, with clinics in Vancouver and Montreal.

Numinus R&D develops clinical and therapeutic protocols to use in treatments, in collaboration with research partners and regulators.

Numinus Bioscience develops formulations and methods for a safe supply, using Health Canada licences, scientific expertise and cutting-edge technology.

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

About Syreon Corporation
Syreon provides a full suite of adaptive clinical trials, health economics and outcomes research ensuring safe, effective and value-driven clinical use of innovative therapies in more than 40 countries.

Syreon partners with an elite portfolio of global pharmaceutical corporations and early-stage biotech companies to speed the evaluation of new therapies and improve health outcomes. Its expert research services identify precise therapeutic needs, rapidly evaluate new health interventions, monitor clinical use and define optimal economic value in today’s competitive health environment.

Syreon scientists have contributed to many groundbreaking innovations, from the first blockbuster signal inhibitors, chimeric and humanized monoclonals, recombinant human proteins and companion diagnostics to the developing fields of immuno-oncology, stem cell therapeutics and other recent initiatives in precision medicine.

Syreon’s head offices in North America and Europe coordinate an international network of regional offices and expert research teams providing personal support and professional coordination to clients, investigators, providers, purchasers and payers. Our services through all phases of study planning, operation, analysis and reporting ensure safe, effective and value-driven clinical use.

www.syreon.com

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, due to inconsistent public opinion, perception of the medical-use and adult-use marijuana industry, bureaucratic 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; and the need to secure and maintain corporate alliances and partnerships, including with research and development institutions, customers and suppliers. 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.

For further information:

May Lee

Communications Manager

Numinus

may@numinus.ca

For media inquiries:

Catherine Snider

Kaiser & Partners

catherine.snider@kaiserpartners.com

Posted on

Numinus announces milestones in compassionate access trial for MDMA-assisted therapy in collaboration with MAPS Public Benefit Corporation

Trial enters pre-implementation stage having met several key milestones towards expanding access to patients with PTSD

VANCOUVER (February 17, 2021) – Numinus Wellness Inc. (“Numinus” or the “Company”) (TSXV: NUMI), a company creating an ecosystem of health solutions centered around developing and supporting the safe, evidence-based, accessible use of psychedelic-assisted psychotherapies, is pleased to share that the single-arm, open-label, compassionate access trial for MDMA-assisted therapy has made significant progress towards treating patients with posttraumatic stress disorder (PTSD). This trial 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 the treatment protocols, research and MDMA-assisted therapy training programs.

“We are excited to share an update on the progress of our MDMA compassionate access trial with the full recognition that existing therapies for PTSD are inadequate,” said Payton Nyquvest, CEO of Numinus. “At Numinus, we are pleased to help foster a promising regulatory landscape that will contribute to a better understanding that psychedelic-assisted psychotherapies are a viable, safe, and necessary avenue for expanding existing treatment options. We look forward to continued collaboration with MAPS PBC and will work together to provide those experiencing PTSD with more treatment options.”

This first-of-its-kind trial in Canada has advanced and successfully transitioned into the pre-implementation stage at Numinus’ Vancouver clinic. This follows the successful completion of several milestones, starting with the recruitment of therapists, physicians, and staff in preparation for participant enrolment and the ultimate analysis of therapy outcomes. The highly qualified cohort of medical staff will be responsible for collecting safety data for Health Canada to further implement key research that supports individuals living with PTSD who have not benefited from existing treatment options.

In November 2020, eight Numinus therapists graduated from Part B of the MAPS MDMA therapist training program. Through their roles within the trial, they will complete the supervision requirement for certification as fully qualified MDMA therapists.

A draft MDMA-assisted therapy protocol for PTSD has been adapted for the trial, including clear guidance surrounding necessary screening processes, patient health histories, and indications and potential contraindications before accepting participants. Initial regulatory meetings with Health Canada to define the trial’s implementation science strategy have been completed, and the next steps will include obtaining ethical and Health Canada approvals to allow the recruitment of participants according to COVID-19 public health protocols.

“Developing a skilled workforce is a key challenge for the safe delivery of psychedelic-assisted therapies, so we are pleased to engage with Numinus to train therapists in the MDMA-assisted therapy protocol for PTSD,” said Amy Emerson, CEO of MAPS PBC.

Numinus is also pleased to announce that its Medical and Therapeutic Services Director, Dr. Devon Christie, will serve as both the trial’s Principal Investigator, and as a therapist. Dr. Christie is a family physician with a focus in multidisciplinary pain management, is a certified Relational Somatic Therapist, and is already MAPS-trained in the delivery of the MAPS MDMA-assisted therapy for PTSD.

“I am thrilled to be involved in a long-awaited clinical program that will help pave the way towards wider use of MDMA-assisted psychotherapy for those experiencing PTSD,” said Dr. Christie. “The key milestones announced today are a true testament to our teams’ commitment to establishing the physical, technical, clinical and human resource infrastructure needed to swiftly move through the trial’s formal implementation stages and ultimately towards the recruitment of the first participant.”

NOTE

The safety and efficacy of MDMA-assisted psychotherapy 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 psychotherapy. These statements necessarily involve known and unknown risks and uncertainties, which may cause actual outcomes to differ materially from projections.

Health Canada recommends compassionate access open-label 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 Expanded Access program, sometimes referred to as “compassionate use” or the Breakthrough Therapy designation.

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About Numinus

Numinus Wellness Inc. (TSXV:NUMI) is a health care and research company creating psychedelic-centred solutions to treat mental illness, substance abuse and trauma.

Numinus Health delivers treatments through clinics and virtual services, with clinics in Vancouver and Montreal.

Numinus R&D develops clinical and therapeutic protocols to use in treatments, in collaboration with research partners and regulators.

Numinus Bioscience develops formulations and methods for a safe supply, using Health Canada licences, scientific expertise and cutting-edge technology.

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

About MAPS

Founded in 1986, MAPS is a 501(c)(3) non-profit research and educational organization that develops medical, legal, and cultural contexts for people to benefit from the careful uses of psychedelics and marijuana. Since its founding, MAPS has raised over $100 million for psychedelic therapy and medical marijuana research and education.

www.maps.org

ABOUT MAPS PUBLIC BENEFIT CORPORATION (MAPS PBC)

MAPS Public Benefit Corporation (MAPS PBC) catalyzes healing and well-being through psychedelic drug development, therapist training programs, and sales of prescription psychedelics while prioritizing public benefit above profit. Founded in 2014, MAPS PBC is a wholly owned subsidiary of the Multidisciplinary Association for Psychedelic Studies (MAPS), a 501(c)(3) non-profit organization

www.mapspublicbenefit.org

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, due to inconsistent public opinion, perception of the medical-use and adult-use marijuana industry, bureaucratic 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; and the need to secure and maintain corporate alliances and partnerships, including with research and development institutions, customers and suppliers. 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.

For further information:

May Lee
Communications Manager
Numinus
may@numinus.ca

Betty Aldworth
Interim Communications Director
MAPS
maps.org/mediarequest or media@maps.org
For media inquiries:

Catherine Snider
Kaiser & Partners
catherine.snider@kaiserpartners.com

Posted on

Numinus Wellness Completes Acquisition of Montreal-based Mindspace Wellbeing

Acquisition expands Numinus’ presence while improving psychedelic-assisted therapy landscape in Canada

VANCOUVER, BC – February 8, 2021 – Numinus Wellness Inc. (“Numinus” or the “Company”) (TSXV: NUMI) a company creating an ecosystem of health solutions centered around developing and supporting the safe, evidence-based, accessible use of psychedelic-assisted psychotherapies (PAP), has closed its acquisition of Mindspace Psychology Services Inc. (DBA Mindspace Wellbeing), a leader and pioneer in psychedelic programming. The purchase agreement was previously announced on December 15, 2020.

Founded in 2011 by Dr. Joe Flanders, Mindspace Wellbeing will operate as “Mindspace by Numinus” and continue under Dr. Flanders’ leadership. The acquisition expands Numinus’ presence into Quebec, building on its Vancouver office with two established locations and extensive virtual offices as well as insights garnered from a decade of successful clinic management.

Terms of the agreement:

Numinus paid the following consideration to complete the Transaction:

  1. $500,000 in cash upon closing of the Transaction
  2. A time-based payout of 441,176 common shares of Numinus issued over the course of 24 months
  3. $100,000 in Numinus shares, issued at Market Price, per year on each of the first three (3) anniversaries of the Closing Date
  4. A multi-year performance payout of $800,000 in Numinus shares, issued at Market Price

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About Numinus

Numinus Wellness Inc. (TSXV: NUMI) is a mental health and wellness company creating solutions centred around the development and delivery of safe, evidence-based, accessible psychedelic-assisted psychotherapy to help people heal and be well.

Numinus Health is delivering treatments to address physical, mental, and emotional health, through clinics and virtual services.

Numinus R&D is developing clinical and therapeutic models of psychedelic-assisted psychotherapy delivery in collaboration with partners and health regulators, setting the stage for approved and regulated use in mental health care.

Numinus Bioscience is developing methods and formulas for psychedelic science. Health Canada licences, scientific expertise, and new technologies facilitate internal research and third-party contract services for revenue generation.

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

About Mindspace Wellbeing

Founded in 2011, Mindspace Wellbeing is a Montreal-based full-service well-being organization that began as a state-of-the-art psychology clinic with a focus on evidence-based approaches to mental health. Mindspace boasts exclusively PhD-level psychotherapists and is focused on evidence-based approaches to mental health.

In 2019, Mindspace launched its Psychedelic Harm Reduction and Integration programming, pioneering first-of-its-kind training in Canada for clinicians helping their clients work safely with psychedelics. In 2020, the company expanded its psychedelic offering to administer ketamine-assisted psychotherapy for treatment-resistant depression.

Mindspace has two Montreal locations that support more than 1,400 clients, through in-person in-person and virtual services. Mindspace also hosts a podcast with more than 4,000 subscribers.

Mindspace has three Montreal locations that support more than 1,400 clients, through in-person and virtual services. Mindspace also hosts a podcast with more than 4,000 subscribers.

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, due to inconsistent public opinion, perception of the medical-use and adult-use marijuana industry, bureaucratic 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; and the need to secure and maintain corporate alliances and partnerships, including with research and development institutions, customers and suppliers. 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.

For further information: Dana Harvey, Chief Communications Officer, media@numinus.ca.

Posted on

Numinus Engages Native Ads Inc. for Digital Media Services

VANCOUVER (February 5, 2021) – Numinus Wellness Inc. (“Numinus” or the “Company”) (TSXV: NUMI), a company creating an ecosystem of health solutions centered around developing and supporting the safe, evidence-based, accessible use of psychedelic-assisted psychotherapies, is pleased to announce it has engaged the services of Native Ads Inc. (Native Ads) to provide strategic digital media services.

Under the terms of the agreement, Native Ads will provide a combination of content development, web development, media buying and distribution, and campaign reporting and optimization at a total cost of $250,000 USD over an expected twelve-month period.

Native Ads is a full-service advertising agency based in Vancouver, BC, that owns and operates a proprietary ad exchange with over 80 integrated supply side platforms resulting in access to three billion to seven billion daily North American ad impressions. Neither Native Ads nor any of its directors and officers owns any securities of the Company.

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Numinus Wellness Inc. (TSXV: NUMI) is a mental health and wellness company creating solutions centred around the development and delivery of safe, evidence-based, accessible psychedelic-assisted psychotherapy to help people heal and be well.

Numinus Health is delivering treatments to address physical, mental, and emotional health, through clinics and virtual services.

Numinus R&D is developing clinical and therapeutic models of psychedelic-assisted psychotherapy delivery in collaboration with partners and health regulators, setting the stage for approved and regulated use in mental health care.

Numinus Bioscience is developing methods and formulas for psychedelic science. Health Canada licences, scientific expertise, and new technologies facilitate internal research and third-party contract services for revenue generation.

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, due to inconsistent public opinion, perception of the medical-use and adult-use marijuana industry, bureaucratic 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; and the need to secure and maintain corporate alliances and partnerships, including with research and development institutions, customers and suppliers. 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.

For further information:

May Lee
Communications Manager
Numinus
may@numinus.ca

Posted on

Numinus Wellness Closes Q1 2021 with Strong Cash Position and Industry Firsts

Key milestones met in ongoing trials , expanding national footprint, and enhanced research capabilities ensure Numinus’ continued growth

VANCOUVER, BC – January 29, 2021 – Numinus Wellness Inc. (“Numinus” or the “Company”) (TSXV: NUMI), a health care and research company developing and delivering psychedelic-centred solutions to treat mental illness, substance abuse and trauma, today announced its financial results for the first quarter for the three months ended November 20, 2020 (“Q1 2021”). After achieving two industry firsts, launching new compassionate access trials, and augmenting its clinical and research activity, Numinus meaningfully expanded its industry presence in Q1 2021. All financial results are reported in Canadian dollars unless otherwise stated.

Q1 2021 Highlights:

  • Achieved cash balance of $4,915,209 as at November 30, 2020 through the $4,600,000 short form financing and $1,094,708 from the exercises of warrants and options
  • Achieved revenue of $229,188 for Q1 2021
  • Realized net loss and comprehensive loss of $(1,928,737) for Q1 2021
  • Completed a short form prospectus financing offering of $4,600,000 through the issuance of 18,400,000 units at a price of $0.25 per Unit
  • Cultivated and harvested the first legal flush of Psilocybe mushrooms in Canada under its Health Canada-issued Controlled Drugs and Substances Dealer’s Licence
  • Entered into a collaboration agreement with Syreon Corporation to undertake a compassionate access clinical trial of psilocybin-assisted psychotherapy for substance use disorders
  • Welcomed Jamie Wheal, Ben Nemtin, Dennis McKenna, Pamela Hadfield, and Nichol Bradford to its General Advisory Council
  • Continued to develop psychedelic assisted psychotherapy protocols for broader delivery once COVID-19 precautions are loosened and therapy can be safely provided in person

Highlights Subsequent to Quarter End:

  • Completed a bought deal financing offering of $17,250,138 through the issuance of 25,367,850 units at a price of $0.68 per Unit
  • Achieved available cash on hand of approximately $28,000,000 through the $17,250,138 bought deal financing and approximately $9,000,000 through the exercises of warrants and options
  • Entered into a collaboration agreement with the Multidisciplinary Association for Psychedelic Studies Public Benefit Corporation (MAPS PBC) to seek approval to deliver MDMA-assisted psychotherapy for posttraumatic stress disorder through a single-arm, open-label, compassionate access trial
  • Announced agreement to acquire Montreal-based Mindspace Wellbeing to continue national expansion
  • Continued research activities related to psilocybin extraction of Psilocybe mushrooms as part of the Company’s research and development program
  • Entered into a contract services agreement with Optimi Health to advance research and development of psychedelic products
  • Upgraded lab equipment, research, and testing capabilities with the purchase of the Orbitrap Exploris 120 mass spectrometer

 

CEO Commentary and Outlook

“We are pleased that our first quarter was characterized by significant growth across many aspects of our business,” said Payton Nyquvest, CEO of Numinus. “We achieved landmark industry firsts, including the first legal harvest and extraction of Psilocybe mushrooms by a public company in Canada, while also embarking on two compassionate access trials and expanding our national footprint. Supported by our strong cash position and balance sheet, Numinus is poised to take advantage of market opportunities that will further cement our leadership role in the psychedelics industry. At Numinus, we endeavour to develop and deliver psychedelic therapies to transform health care, and we remain committed to executing against our strategic plan while maximizing long-term value for our shareholders.”

Selected Financial Results for Q1 2021

For the three months ended November 30,
202 2019
Revenue $ 229,188 $ 134,415
Cost of Revenue (267,323) (68,198)
Gross Profit (38,135) 66,217
Expenses (1,909,929) (957,477)
Loss Before Other Items (1,948,064) (891,260)
Other items 19,327 (13,751)
Loss Before Income Taxes (1,928,737) (905,011)
Income tax – (6,240)
Loss and Comprehensive Loss for the Period $ (1,928,737) $ (911,251)
For the three months ended November 30,
2020 2019
Cash used in operating activities $ (1,899,655) $ (303,106)
Cash generated by (used in) investing activities 200,867 (27,853)
Cash generated by financing activities 4,986,668 250,932
Change in cash during the period 3,287,880 (80,027)
Cash, beginning of period 1,627,329 89,987
Cash, end of period $ 4,915,209 $ 9,960

Numinus’ condensed consolidated interim financial statements (“financial statements”) and management’s discussion and analysis (“MD&A”) are available on Numinus’ website at numinus.ca and on SEDAR at www.sedar.com.

About Numinus

Numinus Wellness Inc. (TSXV:NUMI) is a health care and research company developing and delivering psychedelic-centred solutions to treat mental illness, substance abuse and trauma.

Numinus Health delivers treatments through clinics and virtual services, with clinics in Vancouver and Montreal.

 

Numinus R&D develops clinical and therapeutic protocols to use in treatments, in collaboration with research partners and regulators.

 

Numinus Bioscience develops formulations and methods for a safe supply, using Health Canada licences, scientific expertise and cutting-edge technology.

Learn more at numinus.ca, and follow us on LinkedIn, 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, due to inconsistent public opinion, perception of the medical-use and adult-use marijuana industry, bureaucratic 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; and the need to secure and maintain corporate alliances and partnerships, including with research and development institutions, customers and suppliers. 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.

-30-

For further information: John Fong, Chief Financial Officer, Numinus Wellness Inc, ir@numinus.ca

For media inquiries: Maggie Hall, Kaiser & Partners, maggie.hall@kaiserpartners.com

Posted on

Numinus Wellness Forges Forward into Psychedelic Discovery Research with the Orbitrap Exploris 120 Mass Spectometer

Acquisition of industry-leading instrument by Thermo Fisher Scientific will significantly advance psychedelic research and accelerate third-party standardized testing capabilities

VANCOUVER, BC, January 13, 2021 – Numinus Wellness Inc. (“Numinus” or the “Company”) (TSXV: NUMI), a company creating an ecosystem of health solutions centered around developing and supporting the safe, evidence-based, accessible use of psychedelic-assisted psychotherapies (PAP), is excited to announce it has acquired the Orbitrap Exploris 120 mass spectrometer with Vanquish Flex Binary (“Orbitrap”) instrument for its continued research and development of Psilocybe mushroom related projects at Numinus Bioscience, the Company’s 7,000 square foot analytics and research laboratory.

Implementation of the Orbitrap, a state-of-the-art high resolution mass spectrometry instrument, will continue the accelerated trajectory of Numinus Bioscience’s research strategy to optimize cultivation, harvest, and extraction of Psilocybe mushrooms. This follows Numinus’ successful completion of the first legal extraction in Canada by a public company for research and development purposes in December.

“Numinus continues to break ground in the research and development of psychedelic-assisted psychotherapies, and the implementation of the Orbitrap Exploris 120 mass spectrometer with Vanquish Flex Binary cements our role as the centre of excellence for psychedelic research and development,” said Sharan Sidhu, Science Officer and General Manager, Numinus. “As an early psychedelic substances license holder, this announcement demonstrates our commitment to staying at the forefront of psychedelic initiatives. Acquiring the Orbitrap is a fundamental step forward in developing Numinus Bioscience’s first patent, significantly advancing Psilocybe Mushroom related psychedelic discovery research and accelerating our third-party psychedelic standardized testing capabilities.”

Numinus Bioscience is focused on developing analytical methods and formulations for the evolving psychedelics space by establishing itself at the forefront of analytical testing for psychedelics. Use of the Orbitrap Exploris 120 will allow Numinus to accelerate psychedelic standardized testing, research and development activities for third-party clients and strategic partners, as well as high throughput testing for amenable compounds.

As well, the Orbitrap will be instrumental in ensuring that dried Psilocybe Mushrooms provided for special access are safe and that the therapeutic compounds consistently meet all required specifications. This follows Health Canada’s groundbreaking announcement of its intention to revise the Special Access Programme (SAP) to permit access to MDMA and psilocybin-assisted psychotherapy in the same way other investigational medications are accessed in Canada.

Health Canada’s Notice of Intent regarding the SAP will be open for public consultation and comments for the next 60 days, and Numinus strongly encourages the community to weigh in on the benefits of the revision. View the notice here: http://www.gazette.gc.ca/rp-pr/p1/2020/2020-12-12/html/notice-avis-eng.html#nb2.

To share comments and thoughts related to the SAP, please email hc.csd.regulatory.policy-politique.reglementaire.dsc.sc@canada.ca.

About Psychedelic-Assisted Psychotherapy

Psychedelic-assisted psychotherapy has gained a great deal of interest within the medical community and general public as research results demonstrate its superior effectiveness for a range of mental health conditions. These results are contributing to a paradigm shift in both the understanding and treatment of mental health conditions.

Numinus has announced plans to embark upon open-label compassionate access clinical trials of psilocybin-assisted psychotherapy for substance use disorders and MDMA-assisted psychotherapy for PTSD, enabling it to implement, test and refine optimal protocols for delivery before these therapies are widely accessible. This includes developing physical and human resource infrastructure more broadly to deliver psychedelic-assisted psychotherapy including for Special Access Programme patients.

Numinus is uniquely positioned to provide patients with MDMA and psilocybin-assisted psychotherapy under the expanded SAP revision based on its international partnerships and extensive work completed on developing safe and evidence-based protocols for psychedelic-assisted psychotherapy. The Company is also a leader in the industry as the first public entity in Canada to receive a licence to produce and extract psilocybin from mushrooms, the first to complete a legal harvest and extraction of Psilocybe mushrooms using this licence and the holder of a Health Canada dealer’s licence to import, export, possess, test and distribute MDMA, psilocybin and other psychedelics.

Applications for Numinus’s compassionate access trials and for access under the SAP, pending approval, are not yet open. To be advised of the status and procedures for applications when available, register for Numinus’s newsletter.

###

About Numinus

Numinus Wellness Inc. (TSXV: NUMI) is a mental health and wellness company creating an ecosystem of solutions centred around safe, evidence-based, accessible psychedelic-assisted psychotherapy to help people heal and be well.

Numinus Health is dedicated to delivering innovative treatments to address physical, mental, and emotional health, through clinics and virtual services.

Numinus R&D is conducting implementation science and leveraging partnerships to beta-test and refine optimal models of psychedelic-assisted psychotherapy delivery, setting the stage for approved routine use in mental health and wellness care.

Numinus Bioscience is focused on developing testing methods and effective formulas for the evolving psychedelics space. Health Canada licences, scientific expertise, and new technologies facilitate ongoing innovation, and high-throughput contract services generate established revenue.

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, due to inconsistent public opinion, perception of the medical-use and adult-use marijuana industry, bureaucratic 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; and the need to secure and maintain corporate alliances and partnerships, including with research and development institutions, customers and suppliers. 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.

For further information:

Dana Harvey,

Chief Communications Officer,

Numinus Wellness Inc

media@numinus.ca

Posted on

Numinus Signs Lab Services Agreement with Optimi Health to Advance Research and Development of Psychedelic Products

The agreement will focus on developing safe, effective, all-natural products for the emerging psychedelic industry

VANCOUVER, BC, January 6, 2021 – Numinus Wellness Inc. (“Numinus” or the “Company”) (TSXV: NUMI), a company creating an ecosystem of health solutions centered around developing and supporting the safe, evidence-based, accessible use of psychedelic-assisted psychotherapies (PAP), announced today that it has signed a lab services agreement with Optimi Health Corp. (“Optimi”), developers of a vertically integrated functional mushroom brand focused on the health and wellness sector, to further the research and development of Canadian-grown psilocybin-producing mushrooms.

Through this first-of-its-kind agreement, Optimi will utilize and leverage Numinus Bioscience’s laboratories, equipment, services and expertise, with the goal of developing products for the emerging psychedelic industry. Optimi has applied to Health Canada for a research exemption allowing it to conduct activities involving psychedelic compounds and, in advance of approval, will undertake a number of research and development projects with Numinus related to Psilocybe mushrooms, psychedelic compounds, and formulations.

“We’re excited to partner with Optimi and its highly experienced and passionate team to advance psychedelic initiatives and develop safe and effective products,” said Payton Nyquvest, CEO, Founder and Chairman, Numinus. “Demand for natural products that optimize mental health and performance continues to grow, and we see great potential in psilocybin-producing mushroom products to provide these benefits. We look forward to working with Optimi to advance development in this rapidly expanding marketplace.”

“Numinus is an ideal partner to further our research and development of Psilocybe mushroom and associated derivatives-based products,” said Mike Stier, CEO, Optimi Health Corp. “Numinus’ state-of-the art laboratory, specialized equipment and second-to-none expertise in psychedelic research will be critical to developing the safe, effective, all-natural products that we believe to be the flagship products in this space.”

Under the terms of the agreement, Optimi will pay an initial retainer with fees for services determined and replenished on a project-by-project basis. Each project is expected to be a stand-alone project that is defined by a Statement of Work, and while certain projects may build upon previously completed ones, there may also be several projects undertaken at the same time. Optimi will further issue to Numinus 150,000 fully paid and non-assessable common shares in the capital of Optimi (each a “Share”) on January 4, 2021 and 150,000 Shares upon completing the first project that the parties enter into. All shares will be subject to resale restrictions expiring four months and one day from their date of issue.

Numinus Bioscience’s laboratory provides services including cultivation, analytical testing, product research and development, and ancillary services in the area of psychedelics. The agreement with Optimi, is effective January 4, 2021 and constitutes one of the first opportunities for Numinus to generate revenue from independent parties utilizing our state of the art laboratory facility, scientific expertise and authorization to work with controlled drugs and substances.

###

 

About Numinus

Numinus Wellness Inc. (TSXV: NUMI) is a mental health and wellness company creating an ecosystem of solutions centred around safe, evidence-based, accessible psychedelic-assisted psychotherapy to help people heal and be well.

Numinus Health is dedicated to delivering innovative treatments to address physical, mental, and emotional health, through clinics and virtual services.

Numinus R&D is conducting implementation science and leveraging partnerships to beta-test and refine optimal models of psychedelic-assisted psychotherapy delivery, setting the stage for approved routine use in mental health and wellness care.

Numinus Bioscience is focused on developing testing methods and effective formulas for the evolving psychedelics space. Health Canada licences, scientific expertise, and new technologies facilitate ongoing innovation, and high-throughput contract services generate established revenue.

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

About Optimi Health

Optimi Health is developing a vertically integrated Canadian functional mushroom brand that focuses on the health and wellness sector. The Company intends to cultivate, extract, process and distribute high quality strains of fungi products in its facility located in Princeton, British Columbia. Optimi intends to grow and process functional mushrooms in order to develop and sell its mushrooms and related health food products directly to consumers, and to other health food brands and distributors.

Find out more at optimihealth.ca

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, due to inconsistent public opinion, perception of the medical-use and adult-use marijuana industry, bureaucratic 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; and the need to secure and maintain corporate alliances and partnerships, including with research and development institutions, customers and suppliers. 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.

For further information:

Dana Harvey,

Chief Communications Officer,

Numinus Wellness Inc

media@numinus.ca

Posted on

Numinus Announces Closing of $17 Million Bought Deal Offering Including Full Exercise of Over-Allotment Option

Proceeds add to recently executed warrants and options of $8.9 million

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES

Vancouver, British Columbia, December 29, 2020, Numinus Wellness Inc. (“Numinus” or the “Company”) (TSXV: NUMI), a company creating an ecosystem of health solutions centered around developing and supporting the safe, evidence-based, accessible use of psychedelic-assisted psychotherapies, is pleased to announce that it has closed its previously announced bought deal public offering (the “Offering“) of units (the “Units”) through Canaccord Genuity Corp. and Eight Capital (the “Underwriters”) pursuant to a short form prospectus dated December 21, 2020.

Pursuant to the Offering, the Company issued 25,367,850 Units, on an underwritten basis, at the purchase price of $0.68 per Unit (the “Offering Price”), for aggregate gross proceeds to the Company of $17,250,138, which includes the exercise, in full, by the Underwriters of the over-allotment option (the “Over-Allotment Option”) granted by the Company to purchase an additional 3,308,850 Units at the Offering Price.

Each Unit consists of one common share of the Company (a “Common Share“) and one-half of one common share purchase warrant of the Company (each whole warrant, a “Warrant”). Each Warrant is exercisable to acquire one Common Share until December 29, 2022 at an exercise price of $0.90 per Common Share.

In consideration for their services, the Company paid to the Underwriters a cash commission equal to 6% of the aggregate gross proceeds of the Offering in the amount of $1,035,008.28, including gross process raised on exercise of the Over-Allotment Option, and issued to the Underwriters 1,522,071 compensation warrants (the “Compensation Warrants”). Each Compensation Warrant may be exercised to acquire one Common Share (each, a “Compensation Share”) at an exercise price of $0.68 per Compensation Share until December 29, 2022.

In addition, the Company paid a corporate finance fee (the “Corporate Finance Fee”) in the amount of $250,000 with 50% of the Corporate Finance Fee paid in cash and 50% of the Corporate Finance Fee paid in Common Shares (the “Corporate Finance Fee Shares”) at a deemed price of $0.68 per Corporate Finance Fee Share for a total of 183,824 Corporate Finance Fee Shares.

The Company intends to use the net proceeds of the Offering for clinic upgrades to prepare for clinical trials, laboratory upgrades, clinic acquisitions, research and development of medical protocols, and general working capital.

The securities being offered have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States or to, or for the account or benefit of, U.S. persons absent registration or an applicable exemption from the registration requirements. This news release will not constitute an offer to sell or the solicitation of an offer to buy nor will there be any sale of the securities in any state in which such offer, solicitation or sale would be unlawful.

In addition to the bought deal public offering, over the past 12 weeks, Numinus has received approximately $8.9 million in gross proceeds from the exercise of warrants and stock options.

“This over-subscribed financing, along with the exercised warrants and options, not only strengthens our cash position, but clearly demonstrates confidence in our business model, our progress, and our growth prospects,” said Payton Nyquvest, Founder, CEO, and Chair, Numinus. “We are closing off 2020 in a strong position with the financing topping off our recent exclusive Psilocybe harvest and extraction, our planned compassionate access trial of psilocybin, our partnership with MAPS for an MDMA compassionate access trial, our national expansion with the acquisition of Mindspace, and our successful lobbying of Health Canada resulting in its notice of intent to amend the Special Access Programme to include accessibility to psilocybin and MDMA. We are ready for a fast-paced year ahead, and I would like to use this opportunity to sincerely thank our supporters and to wish you all a healthy, safe and happy New Year.”

 

About Numinus

Numinus Wellness Inc. (TSXV: NUMI) is a mental health and wellness company creating an ecosystem of solutions centred around safe, evidence-based, accessible psychedelic-assisted psychotherapy to help people heal and be well.

Numinus Health is dedicated to delivering innovative treatments to address physical, mental, and emotional health, through clinics and virtual services.

Numinus R&D is conducting implementation science and leveraging partnerships to beta-test and refine optimal models of psychedelic-assisted psychotherapy delivery, setting the stage for approved routine use in mental health and wellness care.

Numinus Bioscience is focused on developing testing methods and effective formulas for the evolving psychedelics space. Health Canada licences, scientific expertise, and new technologies facilitate ongoing innovation, and high-throughput contract services generate established revenue.

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

Forward-Looking Statements

This news release contains “forward-looking information” within the meaning of applicable securities laws, including but not limited to statements relating to the use of proceeds from the Offering. Although the Company believes, in light of the experience of its officers and directors, current conditions and expected future developments and other factors that have been considered appropriate, that the expectations reflected in this forward-looking information are reasonable, undue reliance should not be placed on them because the Company can give no assurance that they will prove to be correct. Actual results and developments may differ materially from those contemplated by these statements. The statements in this press release are made as of the date of this release and the Company assumes no responsibility to update them or revise them to reflect new events or circumstances other than as required by applicable securities laws. The Company undertakes no obligation to comment on analyses, expectations or statements made by third-parties in respect of the Company, its subsidiaries, their securities, or their respective financial or operating results (as applicable).

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.

ON BEHALF OF THE BOARD OF NUMINUS WELLNESS INC.

Payton Nyquvest

President, Chief Executive Officer and Chair

For further information: Dana Harvey, Chief Communications Officer, media@numinus.ca

Posted on

Numinus Completes First Extraction of its Psilocybe Mushrooms

Canada’s first legal extraction by a public company is a landmark moment for the global psychedelic-assisted psychotherapies landscape

VANCOUVER, BC, December 17, 2020 – Numinus Wellness Inc. (“Numinus” or the “Company”) (TSXV: NUMI), a company creating an ecosystem of solutions centred on the research, development, and delivery of safe, evidence-based, accessible psychedelic-assisted psychotherapies, has completed the first legal extraction of Psilocybe mushrooms in Canada by a public company for research and development purposes. This follows Numinus’ successful completion of the cultivation and harvest of the first legal flush of Psilocybe mushrooms at Numinus Bioscience, the Company’s 7,000 square foot analytics and research laboratory.

“Completing the first legal extraction of Psilocybe mushrooms in Canada is a critical next step to providing a natural product for safe, evidence-based psilocybin-assisted psychotherapies to those in need,” said Payton Nyquvest, CEO, Founder, and Chairman. “Numinus continues to be a vanguard of positive change for the industry, and this announcement demonstrates our ability to deliver yet another first.”

Numinus Bioscience is establishing itself at the forefront of analytical testing for psychedelic substances, as a centre of excellence for psychedelic product research and development, and as an ancillary for psychedelic therapy clinical trials. Health Canada licences, scientific expertise, and state-of-the-art technologies facilitate ongoing innovation, while revenue from high-throughput contract cannabis testing is reinvested to further its psychedelic initiatives.

“This is an important milestone in our comprehensive research strategy, following our successful harvest announced in October,” said Sharan Sidhu, Science Officer and General Manager. “In the extraction process, Numinus Bioscience’s goal is to optimize Psilocybe mushrooms to standardize psilocybin and multiple therapeutically important components, increasing the efficacy of the extract. To further our position as a centre of excellence in the space, we are in the process of submitting amendments to supply the extract for use in clinical trials and the Special Access Programme, which, when accepted, will mark a significant move forward in scaling the delivery of psychedelic-assisted therapies.”

“While direct comparisons cannot be made, there is a clear recognition in the cannabis space that synthetic cannabinoids are far less attractive than naturally occurring cannabinoids,” indicated Dr. Evan Wood, Numinus’ Chief Medical Officer. “Numinus is of the view that, ultimately, nature knows best, and we’re excited to be at the forefront of exploring the fascinating world of working with Psilocybe mushrooms as part of a focused drug development program.”

This announcement follows Numinus’ advocacy work that contributed to Health Canada’s groundbreaking announcement of its intention to revise the Special Access Programme (SAP) to permit access to MDMA and psilocybin-assisted psychotherapy in the same way other investigational medications are accessed in Canada. In addition, Numinus also recently announced the exciting acquisition of Montreal -based Mindspace Psychology Services Inc (DBA Mindspace Wellbeing) earlier this week, bringing together the capabilities of two leading Canadian organizations to develop and scale delivery of evidence-based psychedelic-assisted psychotherapy.

Health Canada’s Notice of Intent regarding the SAP will be open for public consultation and comments for the next 60 days, and Numinus strongly encourages the community to weigh in on the benefits of the revision. View the notice here: http://www.gazette.gc.ca/rp-pr/p1/2020/2020-12-12/html/notice-avis-eng.html#nb2.

To share comments and thoughts related to the SAP, please email hc.csd.regulatory.policy-politique.reglementaire.dsc.sc@canada.ca.

About Psychedelic-Assisted Psychotherapy

Psychedelic-assisted psychotherapy has gained a great deal of interest within the medical community and general public as research results demonstrate its superior effectiveness for a range of mental health conditions. These results are contributing to a paradigm shift in both the understanding and treatment of mental health conditions.

Numinus has announced plans to embark upon open-label compassionate access clinical trials of psilocybin-assisted psychotherapy for substance use disorders and MDMA-assisted psychotherapy for PTSD, enabling it to implement, test and refine optimal protocols for delivery before these therapies are widely accessible. This includes developing physical and human resource infrastructure more broadly to deliver psychedelic-assisted psychotherapy including for Special Access Programme patients.

Numinus is uniquely positioned to provide patients with MDMA and psilocybin-assisted psychotherapy under the expanded SAP revision based on its international partnerships and extensive work completed on developing safe and evidence-based protocols for psychedelic-assisted psychotherapy. The Company is also a leader in the industry as the first public entity in Canada to receive a licence to produce and extract psilocybin from mushrooms, the first to complete a legal harvest of psilocybe mushrooms using this licence and the holder of a Health Canada dealer’s licence to import, export, possess, test and distribute MDMA, psilocybin and other psychedelics.

Applications for Numinus’s compassionate access trials and for access under the SAP, pending approval, are not yet open. To be advised of the status and procedures for applications when available, register for Numinus’s newsletter.

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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 Inc. (TSXV: NUMI) is a mental health and wellness company creating an ecosystem of solutions centred around safe, evidence-based, accessible psychedelic-assisted psychotherapy to help people heal and be well.

Numinus Health is dedicated to delivering innovative treatments to address physical, mental, and emotional health, through clinics and virtual services.

Numinus R&D is conducting implementation science and leveraging partnerships to beta-test and refine optimal models of psychedelic-assisted psychotherapy delivery, setting the stage for approved routine use in mental health and wellness care.

Numinus Bioscience is focused on developing testing methods and effective formulas for the evolving psychedelics space. Health Canada licences, scientific expertise, and new technologies facilitate ongoing innovation, and high-throughput contract services generate established revenue.

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, due to inconsistent public opinion, perception of the medical-use and adult-use marijuana industry, bureaucratic 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; and the need to secure and maintain corporate alliances and partnerships, including with research and development institutions, customers and suppliers. 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.

SOURCE Numinus Wellness Inc.

For further information:
Dana Harvey, Chief Communications Officer
media@numinus.ca