Optimi Health Corp., a vertically integrated developer of mushroom products is pleased to announce its inclusion in the first psychedelics Exchange Traded Fund (NEO: PSYK). The ETF began trading on the Neo Exchange as of January 26, 2021. The ETF invests in, and indirectly derive revenues from, companies in the psychedelics industry engaged in legal activities involving psychedelic drugs and substances.
Optimi Health is one of currently twenty-three companies to have met the requirements of listing within the ETF. The ETF seeks to replicate, to the extent possible and net of expenses, the performance of a market index that is designed to provide exposure to the performance of a basket of North American publicly listed life sciences companies having significant business activities in, or significant exposure to, the psychedelics industry. Currently, the ETF seeks to replicate the performance of the North American Psychedelics Index, net of expenses. Rebalancing of the North American Psychedelics Index occurs each calendar quarter. At those points, all stocks eligible for inclusion are generally re-weighted by their respective float market capitalization. Optimi Health received a 1.74% weighting at inclusion.
The ETF is managed by Horizons ETF Management an innovative financial services company offering one of the largest suites of exchange traded funds in Canada. The Horizons ETFs product family includes a broadly diversified range of solutions for investors of all experience levels to meet their investment objectives in a variety of market conditions. Horizons ETFs has over $19 billion of assets under management and 95 ETFs listed on major Canadian stock exchanges. Horizons also brought the first cannabis ETF to market in 2017 and continues to lead the industry with ETFs in emerging industries.
Optimi Health’s CEO Mike Stier states, “Inclusion into the ETF is a significant milestone for Optimi Health’s stakeholders. The recognition the Horizons ETF brings us is certainly advantageous to the Company and the increased visibility alone is a big plus, providing increased confidence and assurance to the newer investors. While the ETF brings additional exposure to potential new investors, it also generates value for existing shareholders. We are incredibly pleased to make this announcement today and look forward to capitalizing upon this outstanding opportunity as quickly as possible.”
Optimi is developing a sophisticated mushroom brand that focuses on the health and wellness markets. With a vertically integrated approach, Optimi intends to cultivate, extract, process and distribute high quality functional mushroom products at its two facilities comprising a total of 20,000 square feet nearing completion in Princeton, British Columbia.