VANCOUVER, British Columbia, Sept. 29, 2020 (GLOBE NEWSWIRE) -- Optimi Health Corp. (“Optimi” or the “Company”) is pleased to announce that it has closed an oversubscribed non-brokered private placement (the “Private Placement”) of 17,963,005 special warrants (each, a “Special Warrant”) at a price of $0.25 per Special Warrant for aggregate gross proceeds of $4,490,751.25 Million.
Each Special Warrant entitles the holder thereof to automatically receive, without additional payment, one unit (a “Unit”) in the capital of the Company upon the earlier of (i) January 12, 2020, and (ii) the second business day after the Company receives a receipt for a final long form prospectus qualifying the distribution of the Units. Each Unit consists of one common share (a “Share”) and one common share purchase warrant (a “Warrant”). Each Warrant entitles the holder thereof to acquire one Share at a price of $0.40 for a period of two years from the closing of the Private Placement.
The net proceeds of the Private Placement will be used to advance the Company’s functional mushroom growth and R&D facilities in Princeton, British Columbia, to progress the Company’s product line of functional mushroom supplements and to pursue its development of its pharmaceutical grade facility.
About Optimi Health Corp.
A vertically integrated Cultivation to Consumer (CTC) business, Optimi aims to cultivate and extract the finest strains of mushrooms inside two purpose built GMP certified facilities, strategically located in Princeton, British Columbia, and to leverage existing supply chain efficiencies to deliver a comprehensive line of nutraceutical products directly to consumers. Optimi is building multiple revenue generating assets, setting the foundation to scale, diversify, and capitalize on the immense opportunity within the rapidly expanding business of fungi.
ON BEHALF OF THE BOARD OF OPTIMI HEALTH CORP.
Mike Stier
President and CEO
For further information contact:
Mike Stier
President and CEO
+1 778-930-1321
mike@greendropcapital.com
Further information about the Company is available on its website www.optimihealth.ca.
Forward-Looking Statements
This news release contains “forward-looking information” within the meaning of applicable Canadian securities laws relating to the Private Placement. Forward‐looking statements include, but are not limited to, statements with respect to the expected use of proceeds of the Private Placement. 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 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 securities, or its financial or operating results (as applicable).