Mr. Michael Kydd reports

OPTIMI HEALTH PROVIDES CORPORATE UPDATE

Optimi Health Corp. intends to close the final tranche of its non-brokered private placement imminently.

The offering consists of units at 30 cents per Unit for gross proceeds of up to $1.5-million. Optimi has already raised $555,010 which closed Feb. 23, 2024. 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. The company intends to use the net proceeds from the offering to obtain its drug establishment licence, facilitate commercialization and for general working capital.

The offering will include additional participation from directors JJ Wilson and Dane Stevens and will constitute a related party transaction as defined in Multilateral Instrument 61-101 -- Protection of Minority Security Holders in Special Transactions. The company is relying on the exemptions from the valuation and minority shareholder approval requirements of MI 61-101 contained in sections 5.5(a) and 5.7(1)(a) of MI 61-101, as the fair market value of the participation in the offering by the insiders does not exceed 25 per cent of the market capitalization of the company, as determined in accordance with MI 61-101.

Optimi also announces it has entered into a services agreement with Very Polite Agency Inc. (V. Polite) to provide public and media relations services to the company, subject to approval by the Canadian Securities Exchange. V. Polite's scope of work will be for an initial period of three months for $12,000 per month. To the knowledge of the company, V. Polite does not currently hold a security position in Optimi.

The company further announces it has completed its drug establishment licence inspection from Health Canada for good manufacturing practice compliance.

About Optimi Health Corp.

Optimi is a leading Health Canada licensed psychedelics pharmaceutical manufacturer, specializing in controlled substances such as botanical psilocybin and MDMA (3,4-methylenedioxymethamphetamine), 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 psychedelic 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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