Optimi Health Announces Closing of Strategic Non-Brokered Private Placement

Optimi Health Announces Closing of Strategic Non-Brokered Private Placement

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES. ANY FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF U.S. SECURITIES LAWS.

Highlights:

  • $1.85 million in proceeds received through a strategic offering of units at $0.325 per unit with each unit comprised of one common share and one-half of one (1/2) Common Share purchase warrant exercisable at $0.50, for total potential proceeds of $3.27 million.
  • Financing will fuel Optimi's ongoing commercialization efforts, support new product development and provide necessary working capital to be strategic in the marketplace, with opportunities being explored in Oregon and Alberta.
  • Chip Wilson, founder of lululemon athletica inc., is an advisor to the Company and health and wellness advocate.
  • The Private Placement increases Chip's ownership to 9.5% on a fully diluted basis.

Optimi Health Corp. ( CSE: OPTI ) (OTCQX: OPTHF) (FRA: 8BN) (" Optimi " or the " Company "), a leading GMP producer and safe supply advocate licensed by Health Canada to produce and distribute natural, EU-GMP grade psilocybin and other psychedelic substances, most notably MDMA, is pleased to announce it has closed a non-brokered private placement of 5,692,308 units of the Company (each a " Unit ") at a price of $0.325 per Unit (the " Private Placement ") for gross proceeds of $1,850,000 with Wilson Capital, the Private Equity Division Chip Wilson's ( "Chip" ) family office. The Company intends to use the proceeds from the issuance of the Units to support its psychedelic product commercialization efforts, ongoing psilocybin and MDMA research and clinical trial initiatives, in-house drug development, and for general working capital.

Each Unit consists of one (1) common share of the Company (a " Common Share ") and one-half of one (1/2) Common Share purchase warrant (each whole warrant, a " Warrant "). Each Warrant is exercisable at $0.50 for a period of two (2) years from the date of issuance. The Common Shares and Warrants comprising the Units and any Common Shares issued upon exercise of the Warrants are subject to a statutory hold period of four months plus a day from the date of issuance in accordance with applicable securities laws.

Optimi welcomes this strategic investment led by the family office of Chip Wilson, founder of lululemon athletica inc., who also serves on the Advisory Board of Optimi. Mr. Wilson, stated, "Our participation in the placement speaks to our belief that the Company can achieve its plan to be a world leader in psychedelic product development and global distribution."

Optimi CEO, Bill Ciprick, commented, "It is important to demonstrate both to our existing shareholders and the market at large that Optimi's leadership is taking an active role in raising smart capital. When looking at a variety of potential funding options to lead this round of financing, apart from ensuring the terms of the financing were highly competitive, expanding its relationship with Chip through this investment was the preferred scenario given Chip's familiarity with the operational business, his ongoing support to Optimi in an advisory capacity, and understanding of management and the Board's track record and commitment to achieving its near and long-term corporate milestones."

The private placement increases the amount of the Company's Common Shares owned by Founders, members of the Advisory Board, Directors, and Officers.

Optimi co-founder, director and CFO, Jacob Safarik, says, "This pivotal financing puts the Company in the enviable position of being backed by one of the most trusted family offices in Canada. In a time of market instability, Optimi has maintained the necessary flexibility to execute on its path to profitability while strengthening its working capital position to continue pursuing important product development and research initiatives that support Optimi's position as a leading safe supply advocate," said Safarik. "It is crucial to our continued success that Optimi be ready for opportunities including the implementation of legal psychedelic therapy in new markets taking shape, such as Oregon and Alberta, and that we have a variety of safe, lab tested, EU-GMP psilocybin and MDMA products available to patients around the world as the global regulatory markets continue to evolve."

The strategic offering sets the foundation for the Company's upcoming expansion milestones, including Phase I and II psilocybin and MDMA clinical trials with ATMA Journey Centers, the rollout and expansion of Optimi's functional mushroom and psychedelic product catalogues, and establishing an operational footprint in Oregon's regulated psilocybin market.

Optimi co-founder, director and CMO, Dane Stevens, stated, "This sends the right message at the right time to investors paying close attention to the psychedelics market. When an investor like Chip Wilson offers to increase his position and back the future of Optimi, you find a way to get a deal done. Optimi would not exist without the vision and commitment of JJ and Chip Wilson, the Safarik family, and the shared belief that the work we are doing today will improve the health of so many in need for many years to come. With this strategic raise, we are building trust with shareholders and operations team alike, and demonstrating that the Company's Founders and leadership team are committed to the long-term success and growth of Optimi."

The Wilson family recently made news for their $100,000,000 donation, the largest in history, to the B.C. Parks Foundation — as well as the establishment of Solve FSHD (a foundation to research into a cure for facioscapulohumeral muscular dystrophy) with an additional $100 million, in September and March of 2022, respectively. These were facilitated by the Wilson 5 Foundation, the family's private foundation.

FOR INTERVIEW REQUESTS OR FURTHER INFORMATION PLEASE CONTACT:

Michael Kydd
Investor Relations
Email: investors@optimihealth.ca
Phone: +1 (902) 880 6121

ABOUT OPTIMI (CSE: OPTI) (OTCQX: OPTHF) (FRA: 8BN)

Optimi Health Corp. is a Canadian-based company licensed by Health Canada to produce and supply natural, EU-GMP grade psilocybin and synthetic psychedelic substances, as well as functional mushrooms that focus on the health and wellness markets. Built with the purpose of producing scalable psychedelic formulations for transformational human experiences, the Company's goal is to be the number one trusted, compassionate supplier of safe drug products throughout the world. Optimi's products are produced at its two facilities comprising a total of 20,000 square feet in Princeton, British Columbia, making it the largest psilocybin and MDMA producer in North America.

FORWARD‐LOOKING STATEMENTS

This news release contains forward‐looking statements and forward‐looking information within the meaning of Canadian securities legislation (collectively, "forward‐looking statements") that relate to Optimi's current expectations and views of future events. Any statements that express, or involve discussions as to, expectations, beliefs, plans, objectives, assumptions or future events or performance (often, but not always, through the use of words or phrases such as "will likely result," "are expected to," "expects," "will continue," "is anticipated," "anticipates," "believes," "estimated," "intends," "plans," "forecast," "projection," "strategy," "objective," and "outlook") are not historical facts and may be forward‐looking statements and may involve estimates, assumptions and uncertainties which could cause actual results or outcomes to differ materially from those expressed in such forward‐looking statements. No assurance can be given that these expectations will prove to be correct and such forward‐looking statements included in this news release should not be unduly relied upon. These statements speak only as of the date of this news release. In particular and without limitation, this news release contains forward‐looking statements pertaining to the Private Placement, including with respect to the use of proceeds, the future success of Optimi, activities proposed to be conducted under the Company's approved Health Canada dealer's licence and associated business related to Psilocybin, Psilocin, other psychedelic substances, some being synthetically formulated, and Optimi's plans, focus and objectives.

Forward‐looking statements are based on a number of assumptions and are subject to a number of risks and uncertainties, many of which are beyond Optimi's control, which could cause actual results and events to differ materially from those that are disclosed in or implied by such forward‐looking statements. Such risks and uncertainties include, but are not limited to, the impact and progression of the COVID‐19 pandemic and other factors set forth under "Forward‐Looking Statements" and "Risk Factors" in the Company's Annual information Form dated January 12, 2022, and other continuous disclosure filings available under Optimi's profile at www.sedar.com. Optimi undertakes no obligation to update or revise any forward‐looking statements, whether as a result of new information, future events or otherwise, except as may be required by law. New factors emerge from time to time, and it is not possible for Optimi to predict all of them or assess the impact of each such factor or the extent to which any factor, or combination of factors, may cause results to differ materially from those contained in any forward‐looking statement.

Any forward‐looking statements contained in this news release are expressly qualified in their entirety by this cautionary statement.

Neither the Canadian Securities Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.


Primary Logo

News Provided by GlobeNewswire via QuoteMedia

OPTI:CC
The Conversation (0)
Alberta Puts Patients First By Regulating Psychedelic Therapy: Optimi Health

Alberta Puts Patients First By Regulating Psychedelic Therapy: Optimi Health

Highlights:

  • The safe supply of psychedelic drug products manufactured at a GMP-level is critical in treating serious mental health issues. Minister of Mental Health and Addictions, the Honourable Carolyn Bennett, has publicly stated that safe drug supply is paramount to reducing overdose deaths.
  • Optimi Health is the largest cultivator of natural EU-GMP psilocybin and MDMA in North America.
  • Optimi Health is licensed by Health Canada to supply clinical trials and patients approved under the Special Access Program.

Optimi Health Corp . ( CSE: OPTI ) (OTCQX: OPTHF) (FRA: 8BN) ("Optimi" or the "Company"), a leading Canadian-based company licensed by Health Canada to produce and supply natural, EU-GMP grade psilocybin and other psychedelic substances, most notably MDMA, is applauding the government of Alberta's decision to regulate some psychedelics for therapeutic use in the province.

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less
Optimi Health, ATMA Journey Centers To Proceed With Phase I Natural Psilocybin and MDMA Clinical Trial Application to Health Canada

Optimi Health, ATMA Journey Centers To Proceed With Phase I Natural Psilocybin and MDMA Clinical Trial Application to Health Canada

Optimi Health Corp . ( CSE: OPTI ) (OTCQX: OPTHF) (FRA: 8BN) ("Optimi" or the "Company"), a Canadian-based company licensed by Health Canada to produce and supply natural, EU-GMP grade psilocybin and other psychedelic substances, most notably MDMA, is pleased to announce that in conjunction with ATMA Journey Centers ("ATMA"), the companies have confirmed their intent to proceed with a Phase I clinical trial application (CTA) that will document the safety of the Optimi's natural psilocybin biomass and 3,4-methylenedioxy-methamphetamine (MDMA) in healthy patients.

Upon Health Canada approval, it would be the first trial to assess both safety and additional markers, such as the mystical experience questionnaire in healthy subjects that have consumed MDMA.

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less
Optimi Health Completes Largest Legal Natural Psilocybin Harvest in Canadian History

Optimi Health Completes Largest Legal Natural Psilocybin Harvest in Canadian History

Optimi Health Corp. ( CSE: OPTI ) (OTCQX: OPTHF) (FRA: 8BN) ("Optimi" or the "Company"), is pleased to announce that it has completed what it believes to be the largest legal natural psilocybin harvest in Canadian history. The Company is licensed by Health Canada to produce and supply natural, EU-GMP grade psilocybin and other psychedelic substances, most notably MDMA, as well as functional mushrooms that focus on the health and wellness markets.

Building off its first official harvest on May 27 th , which produced various strains of psilocybin for lab analysis and early-stage supply agreements, the Company is pleased to report that its investment in state-of-the art environmental controls and facility cultivation operations have resulted in a commercially harvested yield of more than 150 kg of Panaeolus cyanescens and Psilocybe cubensis.

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less
Optimi Health Signs First International Mushroom Supply Agreement with UK-based Avida Global

Optimi Health Signs First International Mushroom Supply Agreement with UK-based Avida Global

Optimi Health Corp. ( CSE: OPTI ) (OTCQX: OPTHF) (FRA: 8BN) ("Optimi" or the "Company"), a Canadian-based company licensed by Health Canada to produce natural, scalable, and accessible psychedelic and functional mushroom products for transformational human experiences, is pleased to announce that it has entered into an agreement with Avida Global ("Avida"), a privately-held UK-based producer of high-quality wellness products, including nutraceuticals and medicinal cannabis oils, for the global well-being and medical markets.

In its first large-scale international distribution agreement, Optimi will supply Avida with an extensive catalog of Optimi Life functional mushroom supplement formulations. The supplements will be available for distribution to clients and partners worldwide via Avida Labs, Avida's white-labelling and manufacturing business.

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less
Optimi Health Provides Progress Report On Year Of Commercialization

Optimi Health Provides Progress Report On Year Of Commercialization

Company set to introduce psychedelic product catalogue showcasing in-house EU-GMP manufacturing expertise

Optimi Health Corp. ( CSE: OPTI ) (OTCQX: OPTHF) (FRA: 8BN) ("Optimi" or the "Company"), a Canadian-based company licensed by Health Canada to produce and supply natural, EU-GMP grade psilocybin and synthetic psychedelic substances, as well as functional mushrooms that focus on the health and wellness markets, is pleased to provide an operational update on the progress of its planned year of commercialization.

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less

Compass Pathways to participate in three investor conferences in September

Compass Pathways plc (Nasdaq: CMPS), a biotechnology company dedicated to accelerating patient access to evidence-based innovation in mental health, announced today that management will participate in the following September investor conferences:

  • Morgan Stanley 22nd Annual Global Healthcare Conference: fireside chat at 7:45 am ET on September 4, 2024, and host investor meetings
  • H. C. Wainwright 26th Annual Global Investment Conference: fireside chat at 9:30 am ET on September 10, 2024, and host investor meetings
  • Cantor Global Healthcare Conference: fireside chat at 2:30 pm ET on September 17, 2024, and host investor meetings

A live audio webcast of these events will be accessible from the "Events" page of the Investors section of the Compass website. A replay of the webcast will be accessible for 30 days following each event.

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less

COMPASS Pathways to participate in Canaccord Genuity 44th Annual Growth Conference

Compass Pathways plc (Nasdaq: CMPS), a biotechnology company dedicated to accelerating patient access to evidence-based innovation in mental health, announced today that management will participate in the Canaccord Genuity 44th Annual Growth Conference: presentation at 4:30pm ET on August 13, 2024 and host investor meetings.

A live audio webcast of this event will be accessible from the "Events" page of the Investors section of the Compass website. A replay of this webcast will be accessible for 30 days following such event. For more information, please visit investor section of compasspathways.com.

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less
Psychedelic mushrooms.

Psychedelics Market Update: H1 2024 in Review

The global psychedelics market will likely experience continued growth and interest in the coming years.

According to findings from FactMR, the sector's value is projected to surpass US$603.1 million in 2024, with further growth expected at a CAGR of 7 percent. By 2034, the psychedelics industry is projected to be worth US$1.18 billion.

The field of psychedelics-based therapies has shown significant growth in the past few years as medical companies focus on developing alternative treatments for various mental health conditions, including depression, post-traumatic stress disorder (PTSD), major depressive disorder (MDD), generalized anxiety disorder (GAD), addiction and other ailments.

Keep reading...Show less
Melodiol Global Health

Quarterly Activities Report: Melodiol Delivers $9.3m in Revenue During H1 FY24 – a 33% Increase the PCP

Melodiol Global Health Limited (ASX:ME1) (‘Melodiol’ or ‘the Company’) is pleased to provide the following update on progress for the three month period ended 30 June 2024 (the ‘quarter’), as well as its Appendix 4C. All financial results are in Australian dollars and unaudited (unless otherwise stated).

Keep reading...Show less
Melodiol Global Health Limited

Corporate Update

Melodiol Global Health Limited (ASX:ME1) (‘Melodiol’ or ‘the Company’) is pleased to advise that it has raised $1.1m in new capital in the form of an equity placement and a loan.

Keep reading...Show less
Melodiol Global Health Limited

Melodiol Global Health Limited (ASX: ME1) – Trading Halt

Description

The securities of Melodiol Global Health Limited (‘ME1’) will be placed in trading halt at the request of ME1, pending it releasing an announcement. Unless ASX decides otherwise, the securities will remain in trading halt until the earlier of the commencement of normal trading on Tuesday, 30 July 2024 or when the announcement is released to the market.

Keep reading...Show less

Latest Press Releases

Related News

×