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Optimi Health Corp
Symbol OPTI
Shares Issued 90,550,058
Close 2024-05-30 C$ 0.44
Market Cap C$ 39,842,026
Recent Sedar Documents

Optimi Health closes $544,990 final financing tranche

2024-05-31 10:35 ET - News Release

Mr. Michael Kydd reports

OPTIMI HEALTH ANNOUNCES CLOSING OF FULLY SUBSCRIBED $1,500,000 FINANCING

Optimi Health Corp. has closed a third and final tranche of its non-brokered private placement. The offering consisted of units at 30 cents per unit for gross proceeds of $1.5-million. Optimi raised $544,990 in the third tranche closed May 29, 2024, $400,000 in the second tranche closed May 10, 2024, and $555,010 in the first tranche which closed Feb. 23, 2024.

Each unit under the offering comprises one common share in the capital of the company and one-half of a 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.

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

In connection with the final tranche, the company paid finders' fees of $2,400, equal to 8 per cent of the total proceeds raised by eligible finders.

About Optimi Health Corp.

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