Numinus Announces Short Form Prospectus Offering of Units for Gross Proceeds of up to $4.05 Million

Published: July 23, 2020

Numinus Announces Short Form Prospectus Offering of Units for Gross Proceeds of up to $4.05 Million

Numinus Wellness Inc., a company creating an ecosystem of health solutions centred on developing and supporting the safe, evidence-based, accessible use of psychedelic-assisted therapies, is pleased to announce it has entered into an engagement letter with Mackie Research Capital Corporation in connection with a best-efforts offering of up to 15,000,000 units at a price of $0.27 per Unit for gross proceeds of up to $4,050,000 in the offering jurisdictions of British ColumbiaAlberta and Ontario. Each Unit will consist of one common share of the Company and one-half of one common share purchase warrant.  Each Warrant will entitle the holder to purchase one additional common share of the Company at a price of $0.40 per common share for a period of two years from issuance.

The Company will grant the Agent an option  exercisable at any time up to and including the closing of the Offering increase the size of the Offering by up to 15% by giving written notice of the exercise of the Agent’s Option, or a part thereof, to the Company at any time up to 48 hours prior to 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.

Mackie has agreed to act as lead agent and sole bookrunner for the Offering on a best efforts basis and may invite other registered investment dealers to participate as syndicate members on the Offering as may be determined to the mutual satisfaction of the Agent and the Company.

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’s ecosystem units include Numinus Bioscience, Numinus R&D, and Numinus Health. Each unit is undertaking distinct, synergistic initiatives to hasten approved access to psychedelic-assisted therapy models in Canada and position Numinus as a trusted industry leader for the eventual regulated rollout of these therapies once available.  For more information, visit www.numinus.ca.