Numinus Files U.S. Provisional Patent Application for a Proprietary Rapid Production Process for Psilocybe and Other Psychoactive Fungi Species

Process leads to standardized psychedelic extracts that are reproducible, scalable, cost-effective and commercially viable

Numinus Wellness Inc. ("Numinus" or the "Company") (TSXV: NUMI), a mental health care company advancing innovative treatments and safe, evidence-based psychedelic-assisted therapies, is pleased to announce that its subsidiary Numinus Bioscience Inc. ("Numinus Bioscience") has filed a provisional patent application with the United States Patent and Trademark Office (USPTO) for a process that dramatically increases the production of therapeutics for use in psychedelic-assisted psychotherapy.

The sustainable, reproducible and easily scalable process will be used to rapidly generate therapeutic products from psychoactive fungi species that contain psilocybin, other psychoactive compounds and a range of additional beneficial compounds, some of which Numinus researchers characterized for the first time in psychedelic fungi. The resulting psychedelic products are intended to be delivered in micro or macro dosages to help treat mental health disorders that affect millions of people around the world.

"At Numinus, one of the key goals of our lab's research and discovery work is to support accessibility to psychedelic-assisted psychotherapies," said Sharan Sidhu , Numinus Bioscience General Manager and Science Officer. "The rapid production process announced today meets that goal by enhancing our ability to seamlessly formulate safe and effective products with consistent psychoactive properties at scale, with the regulatory confidence that comes with standardized products."

Numinus initially tested the production process to rapidly generate a Psilocybe species extract as 'proof of concept'. Results revealed a highly efficient, scalable process that can be applied to other species of psychoactive fungi. Numinus will assess the clinical efficacy and safety of an extract generated using its proprietary technology in an upcoming Phase 1 clinical trial, which was announced in April 2021 . The Company's goal is to scale up the proprietary technology to make psychedelic products generated from psychoactive fungi more readily available in a market that may become regulated in the future.

"As research interest and demand for compassionate access to psychedelics grows, patients will require safe therapeutic products that offer consistent psychoactive properties and are scalable," said Payton Nyquvest , CEO, Numinus. "With that in mind, we believe that the rapid production process has the potential to transform the sector and ensure that as many people as possible have the opportunity to benefit from mental health treatments and support their wellbeing."

Today's announcement reinforces the leadership of the Numinus Bioscience lab in novel psychedelic therapeutics development, and highlights the opportunities resulting from the intellectual property strategy that Numinus is pursuing. This includes basic research into laboratory discoveries and processes that are reproducible, sustainable, cost-efficient and patentable.

Under Canada's Controlled Drugs and Substances Act , Numinus Bioscience can possess, produce, assemble, sell, export, and deliver a wide variety of psychedelics including Ketamine, Lysergic acid diethylamide (LSD), Mescaline, N,N-Dimethyltryptamine (DMT), N-Methyl-3,4, methylenedioxyamphetamine (MDMA), Psilocin and Psilocybin.

About Numinus

Numinus Wellness (TSX-V: 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 Wellness model - including psychedelic production, research and clinic care - is at the forefront of a transformation aimed at healing rather than managing symptoms for depression, anxiety, trauma, pain and substance abuse. 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 numinus.ca , and follow us on Facebook , Twitter , and Instagram .

Forward-Looking Statements

This news release contains forward-looking statements within the meaning of applicable securities laws. All statements that are not historical facts, including without limitation, statements regarding future estimates, plans, programs, forecasts, projections, objectives, assumptions, expectations or beliefs of future performance, are "forward-looking statements". Forward-looking statements can be identified by the use of words such as "plans", "expects" or "does not expect", "is expected", "estimates", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results, events or developments to be materially different from any future results, events or developments expressed or implied by such forward-looking statements. Such risks and uncertainties include, among others, dependence on obtaining and maintaining regulatory approvals, including acquiring and renewing federal, provincial, municipal, local or other licences and any inability to obtain all necessary governmental approvals, licences and permits to operate and expand the Company's facilities; regulatory or political change such as changes in applicable laws and regulations, including federal and provincial legalization of psychedelic therapies, due to inconsistent public opinion, perception of the medical-use of psychedelics, delays or inefficiencies or any other reasons; any other factors or developments which may hinder market growth; the Company's limited operating history and lack of historical profits; reliance on management; the Company's requirements for additional financing, and the effect of capital market conditions and other factors on capital availability; competition, including from more established or better financed competitors; the need to secure and maintain corporate alliances and partnerships, including with research and development institutions, customers and suppliers; the development and implementation of medical protocols and treatment standard operating procedures for the use of psychedelic therapies; the Company's goals to develop and implement partnerships with research organizations and other key players in the integrative mental health industry; the Company's ability to successfully withstand the economic impact of COVID-19; the medical benefits, safety, efficacy, dosing and social acceptance of psychedelics; the approval and/or success of compassionate access clinical trials; the cultivation and harvest of Psilocybe mushrooms; and the availability of trained personnel and medical professionals. These factors should be considered carefully, and readers are cautioned not to place undue reliance on such forward-looking statements. Although the Company has attempted to identify important risk factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other risk factors that cause actions, events or results to differ from those anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in forward-looking statements. The Company has no obligation to update any forward-looking statement, even if new information becomes available as a result of future events, new information or for any other reason except as required by law.

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.

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SOURCE Numinus Wellness Inc.

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