/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR
DISSEMINATION IN THE UNITED
STATES/
VANCOUVER, BC, Sept. 10, 2020 /CNW/ - Numinus Wellness Inc.
("Numinus" or the "Company") (TSXV: NUMI), is pleased
to announce that it has closed its previously announced short form
prospectus offering, on a best efforts basis, including the
exercise of the agent's option in its entirety in the form of units
of the Company (each, a "Unit"). A total of 18,400,000 Units
of the Company at a price per Unit of $0.25 were sold for aggregate gross proceeds of
$4,600,000 (the
"Offering"). The Offering was conducted by Mackie Research
Capital Corp. (the "Agent").
Each Unit is comprised of one common share of the Company (a
"Common Share") and one-half of one Common Share purchase
warrant (each whole warrant, a "Warrant"). Each Warrant
entitles the holder to purchase one Common Share for a period of 24
months following the closing of the Offering (the "Closing")
at an exercise price of $0.35.
Payton Nyquvest, Founder, CEO,
and Chair stated, "We are very pleased with the strong response
leading to the oversubscribed close, particularly in this tough
market environment. We would like to thank all our investors for
placing their confidence in us." Nyquvest added, "Our team is
excited to accelerate the initiatives outlined in our prospectus as
we believe our plans will ultimately deliver great value to not
only those who are in such need of alternative transformative
mental health solutions, but also to our shareholders."
In consideration for its services, the Company paid the Agent a
cash commission equal to 6% of the gross proceeds of the Offering,
a cash advisory fee equal to 2% of the gross proceeds of the
Offering and issued to the Agent compensation options and advisory
compensation options to acquire up to an aggregate of 1,472,000
Units at a price of $0.25 for a
period of 24 months from Closing.
The Company intends to use the net proceeds of the Offering for
MDMA and psilocybin Compassionate Access protocol implementation to
make these drugs accessible to specific patient groups before they
are available on the market. As per Health Canada's Special Access
Programme for Drugs Guidance Document, "where possible, open label
or compassionate access trials should be incorporated into drug
development plans to meet the needs of patients not eligible for
enrollment in other pivotal trials." Additional funds will be used
to secure therapy space and develop psychedelic integrative
treatment models, support upgrades to its Lab infrastructure to
support its Health Canada licences, and for general operating
expenses.
The securities being offered have not been, nor will they be,
registered under the United States Securities Act of 1933, as
amended, and may not be offered or sold in the United States or to, or for the account or
benefit of, U.S. persons absent registration or an applicable
exemption from the registration requirements. This news release
will not constitute an offer to sell or the solicitation of an
offer to buy nor will there be any sale of the securities in any
state in which such offer, solicitation or sale would be
unlawful.
About Numinus
Numinus is a Vancouver-based
health care company creating an ecosystem of health solutions
centred around developing and supporting the safe, evidence-based,
accessible use of psychedelic-assisted therapies. Numinus'
ecosystem units include Numinus Bioscience, Numinus R&D, and
Numinus Health. Each unit is undertaking distinct, synergistic
initiatives to hasten legal, for-profit psychedelic-assisted
therapy models in Canada and
position Numinus as a trusted industry leader for the eventual
regulated rollout of these therapies once available. Numinus
Bioscience includes a 7,000 square foot research and testing
laboratory as well as numerous Health Canada licenses (through its
wholly-owned subsidiary Salvation Botanicals) including a cannabis
testing licence used for sustainable revenue to support the
company's psychedelic efforts. The company holds a dealers licence
which allows it to import, export, possess, and test MDMA,
psilocybin, psilocin, DMT and mescaline. Numinus is the only
publicly listed company in Canada
to be issued a Health Canada license to produce and extract
psilocybin from mushrooms. These licences will allow Numinus to
support the growing number of studies on the potential benefits of
psychedelic therapies through research projects, product
development, and the supply and distribution of these substances.
Numinus R&D leverages established relationships to position the
Company for partnerships to host studies, develop medical and
therapeutic protocols, and influence regulatory approval. Numinus
Heath is dedicated to delivering therapies that enhance and
supplement existing options for people wanting lasting physical,
mental and emotional health — with psychedelic treatments at its
core when approved for therapeutic and research use. For more
information, visit www.numinus.ca.
Forward-Looking Statements
This news release contains "forward-looking information"
within the meaning of applicable securities laws, including but not
limited to statements relating to the use of proceeds from the
Offering. Although the Company believes, in light of the experience
of its officers and directors, current conditions and expected
future developments and other factors that have been considered
appropriate, that the expectations reflected in this
forward-looking information are reasonable, undue reliance should
not be placed on them because the Company can give no assurance
that they will prove to be correct. Actual results and developments
may differ materially from those contemplated by these statements.
The statements in this press release are made as of the date of
this release and the Company assumes no responsibility to update
them or revise them to reflect new events or circumstances other
than as required by applicable securities laws. The Company
undertakes no obligation to comment on analyses, expectations or
statements made by third-parties in respect of the Company, its
subsidiaries, their securities, or their respective financial or
operating results (as applicable).
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
ON BEHALF OF THE BOARD OF NUMINUS WELLNESS INC.
Payton Nyquvest
President, Chief Executive Officer and Chair
Further information about the Company is available under its
profile on the SEDAR website, www.sedar.com, and on the Company's
website.
SOURCE Numinus Wellness Inc.