21:06:48 EDT Wed 01 May 2024
Enter Symbol
or Name
USA
CA



Optimi Health Corp
Symbol OPTI
Shares Issued 87,227,566
Close 2024-02-07 C$ 0.31
Market Cap C$ 27,040,545
Recent Sedar Documents

Optimi Health arranges $1.5-million financing

2024-02-08 11:32 ET - News Release

An anonymous director reports

OPTIMI ANNOUNCES NON-BROKERED PRIVATE PLACEMENT

Optimi Health Corp. intends to complete a non-brokered private placement of up to five million units at 30 cents per unit for gross proceeds of up to $1.5-million. Each unit comprises one common share in the capital of the company and one-half of one transferable common share purchase warrant. Each warrant entitles the holder to acquire one common share at 40 cents for two years from the date of issuance, subject to an accelerated expiry provision, whereby in the event the closing price of the company's common shares on the Canadian Securities Exchange exceeds 50 cents for a period of 20 consecutive trading days, at the company's election, the period within which the warrants are exercisable, will be reduced and the holders of the warrants will be entitled to exercise their warrants for a period of 30 days commencing on the day the company provides notice, any outstanding warrants not exercised during the 30-day period will expire.

It is anticipated that insiders of the company may participate in the offering for up to $605,000. The issuance of units to insiders will be considered a related party transaction within the meaning of Multilateral Instrument 61-101 -- Protection of Minority Security Holders in Special Transactions. The company is relying on exemptions from the formal valuation requirements of MI 61-101 pursuant to Section 5.5(a) and the minority shareholder approval requirements of MI 61-101 pursuant to Section 5.7(1)(a) in respect of such insider participation as the fair market value of the transaction, insofar as it involves interested parties, does not exceed 25 per cent of the company's market capitalization.

The company intends to use the net proceeds from the offering to obtain its drug establishment licence, for commercialization and for general working capital.

All securities issued under the offering, including securities issuable on exercise thereof, will be subject to a hold period expiring four months and one day after issuance, in accordance with the rules and policies of the exchange and applicable Canadian securities laws.

About Optimi Health Corp.

Optimi Health is an end-to-end drug researcher and formulator licensed by Health Canada to produce and supply, for clinical research purposes, psychedelic substances such as 3,4-methylenedioxymethamphetamine (MDMA), natural GMP-grade 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 candidates throughout the world. Optimi's products are grown and manufactured at its two facilities comprising a total of 20,000 square feet in Princeton, B.C.

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