Agreement propels development of safe and effective proprietary products and formulations for the emerging psychedelic industry
VANCOUVER, British Columbia, March 02, 2021 (GLOBE NEWSWIRE) -- Optimi Health Corp. (CSE: OPTI) (“Optimi” or the “Company”), developers of a vertically integrated functional mushroom brand focused on the health and wellness sector, is pleased to announce that effective January 4, 2021, it entered into a lab services agreement with Numinus Wellness Inc. ("Numinus"). Recognized as an early leader in developing and supporting the safe, evidence-based, accessible use of psychedelic-assisted psychotherapies (PAP), Numinus is aiding Optimi’s mission to further the research and development of Canadian-grown psilocybin-producing mushrooms and related product formulations.
Through this foundational agreement, Optimi will utilize and leverage the services of Numinus and its laboratories, equipment, services, expertise, and specialized focus with the goal of developing products for the emerging psychedelic industry. Optimi applied for and has received a research exemption from Health Canada allowing it to conduct research activities involving psychedelic compounds, specifically psilocybin and psilocin. Optimi has further applied for and is awaiting approval of a dealer’s license necessary to undertake certain additional aspects of its research and development. The Company has elected to move ahead by undertaking several research and development projects with Numinus specifically related to Psilocybe mushrooms, psychedelic compounds, and formulations within their licensed facilities. All resulting intellectual property (IP) will be 100% owned by Optimi.
"While we finalize our facility construction, build-out, and dealers licensing approval, Numinus offered an ideal partnership to further our research and development of Psilocybe mushroom and associated derivatives-based products," said JJ Wilson, Chairman of the Board, Optimi. “Numinus’ operational state-of-the art laboratory, specialized equipment and significant expertise in psychedelic research will be critical to rapidly advancing the development of safe, effective, and all-natural formulations within the strategic criteria and timelines necessary to create what we envision as future sector leading made-in-Canada, pharmaceutical-grade psilocybin mushroom products.”
As set out in previous news releases, Optimi is pleased to further advise that upon the conclusion of its over $20M oversubscribed initial public offering and commencement of trading on the Canadian Securities Exchange (CSE, ticker OPTI), that strategic activities for 2021 are expected to move ahead rapidly. Noteworthy items include continued construction and build-out of its dual facility (combined 20,000 sq. ft.) operations in Princeton, British Columbia. Upon completion, integrated cultivation, advanced agronomy, genomic research, processing, manufacturing, and laboratory services will be housed on the property which includes additional space for expansion. In addition, several strategic relationships and manufacturing arrangements are advancing; we expect further details to be available shortly.
“The convergence of recent events here at Optimi are the result of the concerted efforts by a growing team of experienced, dedicated and enthusiastic individuals,” said Mike Stier, CEO, Optimi Health. “Our core executive leadership collectively share the vision, mission and goals that have coalesced into an executable strategic plan for sustainable growth. We have the advice, support and governance of highly experienced and talented business leaders on our advisory team, and an increasing number of stakeholders and partners who share our commitment to value generation based on sound principles and the desire to become leaders in this exciting segment of the health services sector.”
On Behalf of the Board of Directors, Optimi Health Corp.
Mike Stier
President, Chief Executive Officer and Director
ABOUT OPTIMI (CSE: OPTI)
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 Labs Inc. 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/.
ABOUT NUMINUS (TSXV: NUMI)
Numinus Wellness Inc. is a health care and research company creating psychedelic-centered 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 licenses, scientific expertise and cutting-edge technology.
Learn more at numinus.ca, and follow us on Facebook, Twitter, Instagram and LinkedIn.
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 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.