Numinus Wellness Announces Key Leadership Hires to Support Rapid Growth and Innovation

Experienced executives fill senior roles in business development, M&A, clinic operations and design, and corporate communications

Numinus Wellness Inc. ("Numinus" or the "Company") (TSXV: NUMI), a mental health care company advancing innovative treatments and safe, evidence-based psychedelic-assisted therapies, today announced the appointments of five experienced leaders to support strategic growth initiatives across the Company's three divisions Numinus Health, Numinus R&D and Numinus Bioscience.

The new hires fill key roles in innovation, communications, business development, mergers and acquisitions, market research and clinic operations. They will support the Company's goals to expand its clinic network internationally, develop and deliver safe and effective psychedelic-assisted psychotherapies, and enhance laboratory capabilities.

"At Numinus, our rapidly growing team of proven and experienced medical, business and clinical leaders are building the future of mental health care," said Payton Nyquvest , President, CEO and Chair at Numinus. "Today's new hires are collaborative leaders who have the expertise and ambition to effectively scale our Company while supporting our vision to help people to heal and be well."

The Numinus team additions include:

• Wajahat Ali , Director of Mergers and Acquisitions , is an expert in data-driven corporate finance with extensive experience in private equity, valuations, financial modeling, planning, analysis and restructuring. As director of corporate development, he spearheaded Lifemark Health Group's acquisition strategies and managed the transaction process from offer to integration.
• Jason L apensee, Vice President of National Clinic Operations, is an accomplished leader in the healthcare industry. Most recently serving as Director of Operations at Dawson Dental Centres, he played a key role in developing the operational framework to scale the business from 12 to 35 practices over seven years.
• Ian Noble , Chief Communications Officer, is a communications and media executive with deep experience in capital markets, issues management, brand, and integrated awareness and advocacy campaigns. He recently served as VP, Media and Financial Communications, Edelman Vancouver.
• Raseel Sehmi, Vice President of Business Development & Strategic Partnerships, offers more than 15 years of international and cross-sector leadership experience, most recently as Director, Global Partnerships & Business Development with ATB Ventures. She has a track record of enabling digital innovation across Canada , and helping pioneering companies accelerate business growth, innovation and social impact.
• Pam Sethi , Vice President of Experience Design & Innovation , is an award-winning leader in mental health innovation. She has extensive healthcare and innovation design experience in the public and private sectors, nationally and globally, and most recently served as Chief Innovation Officer at the Institute for Advancement in Mental Health.

Over the past few months, Numinus has also added employees in sales, marketing, people and culture, market research and clinic operations, and promoted clinical leadership from within. The Company continues to grow and add staff, and currently has more than 25 open positions.

Numinus engages market maker

Numinus has retained the services of Generation IACP Inc. ("GIACP") to provide market-making services to the Company. GIACP has agreed to comply with all applicable securities laws and the policies of the TSX Venture Exchange in providing such services to the Company. GIACP will receive a monthly fee of CDN$7,500 plus applicable taxes. The agreement between the Company and GIACP dated April 26, 2021 (the "Agreement") is for an initial term of six months and shall be automatically renewed for subsequent six month periods (collectively, the "Term") unless the Company provides written notice of termination to GIACP at least 30 days prior to the end of the Term or GIACP provides a written notice of termination to the Company. Commencing on the first anniversary of the Agreement, the fee payable to GIACP will automatically increase annually by 3.0%. No stock options or other compensation are being granted in connection with the engagement.

GIACP is arm's length to the Company. GIACP's market making activity will be primarily to correct temporary imbalances in the supply and demand of the common shares in the capital of the Company (the "Shares"). GIACP will be responsible for the costs it incurs in buying and selling the Shares, and no third party will be providing funds or securities for market making activities.

About Numinus
Numinus Wellness (TSX-V: NUMI) empowers 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.

SOURCE Numinus Wellness Inc.

View original content to download multimedia: https://www.newswire.ca/en/releases/archive/May2021/13/c8268.html