02:14:09 EDT Thu 02 May 2024
Enter Symbol
or Name
USA
CA



Optimi Health Corp
Symbol OPTI
Shares Issued 87,038,441
Close 2023-09-05 C$ 0.19
Market Cap C$ 16,537,304
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Optimi Health arranges $1-million debt financing

2023-09-05 14:34 ET - News Release

Mr. Michael Kydd reports

OPTIMI HEALTH ANNOUNCES SECOND TRANCHE OF CAD $1,000,000 SECURED FOR DEBT FINANCING

Optimi Health Corp. has entered into a non-dilutive debt financing agreement (DFA) and a general security agreement (GSA) for total proceeds of $1-million from two arm's-length parties.

Pursuant to the DFA and the GSA, the loan is secured against the assets of the company and will bear interest at a rate of 7.5 per cent per annum, payable by the company to the lender quarterly on the last business day of every fiscal quarter until full repayment. Upon maturity of the loan, all outstanding principal shall be payable on Aug. 29, 2026. The company may repay the loan at any time on notice to the lender, subject to a prepayment fee. As partial consideration for the advance of the loan from the lender, the company has granted a total of 100,000 common share purchase warrants, entitling the purchase of common shares in the company. The warrants are exercisable for three years from the date of issuance at 50 cents.

About Optimi Health Corp.

Optimi is an end-to-end Canadian-based drug researcher and formulator licensed by Health Canada to produce and supply psychedelic substances such as 3,4-Methylenedioxymethamphetamine (MDMA) and natural, GMP-grade (good manufacturing practice) psilocybin, as well as functional mushrooms that focus on the health and wellness markets. Built with the purpose of producing scalable psychedelic formulations for transformational human experiences, the company's goal is to be the No. 1 trusted, compassionate supplier of safe drug products throughout the world. Optimi's products are grown at its two facilities comprising a total of 20,000 square feet in Princeton, B.C., making it the largest psilocybin and MDMA producer in North America.

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