VANCOUVER, BC, Feb. 14,
2025 /CNW/ - Numinus Wellness Inc. ("Numinus" or
the "Company") (TSX: NUMI) (OTCQX: NUMIF) (FSE: LR23), a mental
healthcare company advancing traditional and innovative behavioral
health treatments including safe, evidence-based
psychedelic-assisted therapies, today announced that its Board of
Directors has approved the wind-down of certain non-operating
subsidiaries as part of the Company's efforts to simplify its
corporate structure and concentrate resources on its core business
areas. This initiative is intended to enhance operational
efficiency and financial sustainability.
The subsidiaries affected and their respective wind-down methods
are as follows:
- Mindspace Services Inc. (Canada) – Bankruptcy
- Neurology Centre of Toronto Inc. (Ontario) – Bankruptcy
- Numinus Bioscience Inc. (British
Columbia) – Bankruptcy
- Salvation Bioscience Inc. (Canada) – Bankruptcy
- Numinus Health Corp. (British
Columbia) – Bankruptcy
These actions do not affect Numinus Wellness Inc.'s ability to
continue operations. The Company remains focused on its research
and training businesses, which form the foundation of its mission
to advance mental health solutions and psychedelic-assisted
therapies. By streamlining its corporate structure, Numinus is
ensuring a more sustainable and efficient path forward.
"This initiative allows us to allocate resources more
effectively and maintain focus on our core operations," said
Michael Tan, CEO of Numinus Wellness
Inc.
The Company has engaged Dodick Landau Inc. to oversee the
bankruptcy proceedings. Additionally, Numinus will ensure that all
required Canada Revenue Agency (CRA) filings for the affected
entities are completed prior to the finalization of the wind-down
process.
This announcement is being made in accordance with TSX and
securities disclosure requirements. Further details regarding this
matter will be included in the Company's forthcoming Material
Change Report, to be filed within 10 days on SEDAR+.
The Company is continuing to prepare its Annual and Interim
financial statements and MD&A, which will be filed as soon as
possible.
About Numinus
Numinus Wellness Inc. (TSX: NUMI) helps
people to heal and be well through the development and delivery of
innovative mental health care and access to safe, evidence-based
psychedelic-assisted therapies. The Numinus model –
technology-driven clinic support, clinical trial research and
comprehensive practitioner training – is at the forefront of a
transformation aimed at healing rather than managing symptoms of
depression, anxiety, trauma, pain and substance use. At Numinus, we
are leading the integration of psychedelic-assisted therapies into
mainstream clinical practice and building the foundation for a
healthier society.
Learn more at www.numinus.com and follow us
on LinkedIn, Facebook, and Instagram.
Forward-looking statements
Statements and other
information contained in this press release about anticipated
future events constitute forward-looking statements.
Forward-looking statements are often, but not always, identified by
the use of words such as "seek", "anticipate", "believe", "plan",
"estimate", "expect", and "intend" and statements that an event
"may", "will", "should", "could" or "might" occur or other similar
expressions. Forward-looking statements are subject to risks and
uncertainties and other factors that could cause actual results to
differ materially from those contained in the forward-looking
statements, and other risks that are set forth in our annual
information form dated November 29,
2023, and available on SEDAR at
www.sedarplus.ca. Forward-looking statements
are based on estimates and opinions of management at the date the
statements are made. Numinus does not undertake any obligation to
update forward-looking statements even if circumstances or
management's estimates or opinions should change except as required
by applicable laws. Investors should not place undue reliance on
forward-looking statements.
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SOURCE Numinus Wellness Inc.
