Mr. Dana Harvey reports
NUMINUS SIGNS LAB SERVICES AGREEMENT WITH OPTIMI HEALTH TO ADVANCE RESEARCH AND DEVELOPMENT OF PSYCHEDELIC PRODUCTS
Numinus Wellness Inc. has signed a lab services agreement with Optimi Health Corp., developer of a vertically integrated functional mushroom brand focused on the health and wellness sector, to further the research and development of Canadian-grown psilocybin-producing mushrooms.
Through this first-of-its-kind agreement, Optimi will utilize and leverage Numinus Bioscience's laboratories, equipment, services and expertise, with the goal of developing products for the emerging psychedelic industry. Optimi has applied to Health Canada for a research exemption allowing it to conduct activities involving psychedelic compounds and, in advance of approval, will undertake a number of research and development projects with Numinus related to psilocybe mushrooms, psychedelic compounds and formulations.
"We're excited to partner with Optimi and its highly experienced and passionate team to advance psychedelic initiatives and develop safe and effective products," said Payton Nyquvest, chief executive officer, founder and chairman of Numinus. "Demand for natural products that optimize mental health and performance continues to grow and we see great potential in psilocybin-producing mushroom products to provide these benefits. We look forward to working with Optimi to advance development in this rapidly expanding marketplace."
"Numinus is an ideal partner to further our research and development of psilocybe mushroom and associated derivatives-based products," said Mike Stier, chief executive officer of Optimi Health. "Numinus's state-of-the art laboratory, specialized equipment and second-to-none expertise in psychedelic research will be critical to developing the safe, effective, all-natural products that we believe to be the flagship products in this space."
Under the terms of the agreement, Optimi will pay an initial retainer with fees for services determined and replenished on a project-by-project basis. Each project is expected to be a stand-alone project that is defined by a statement of work and, while certain projects may build upon previously completed ones, there may also be several projects undertaken at the same time. Optimi will further issue to Numinus 150,000 fully paid and non-assessable common shares in the capital of Optimi on Jan. 4, 2021, and 150,000 shares upon completing the first project that the parties enter into. All shares will be subject to resale restrictions expiring four months and one day from their date of issue.
Numinus Bioscience's laboratory provides services including cultivation, analytical testing, product research and development, and ancillary services in the area of psychedelics. The agreement with Optimi is effective Jan. 4, 2021, and constitutes one of the first opportunities for Numinus to generate revenue from independent parties utilizing its state-of-the-art laboratory facility, scientific expertise, and authorization to work with controlled drugs and substances.
About Numinus Wellness Inc.
Numinus Wellness is a mental health and wellness company creating an ecosystem of solutions centred around safe, evidence-based, accessible psychedelic-assisted psychotherapy to help people heal and be well.
Numinus Health is dedicated to delivering innovative treatments to address physical, mental and emotional health, through clinics and virtual services.
Numinus R&D is conducting implementation science and leveraging partnerships to beta test and refine optimal models of psychedelic-assisted psychotherapy delivery, setting the stage for approved routine use in mental health and wellness care.
Numinus Bioscience is focused on developing testing methods and effective formulas for the evolving psychedelics space. Health Canada licences, scientific expertise and new technologies facilitate continuing innovation and high-throughput contract services generate established revenue.
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