Numinus Wellness Inc. (TSXV: NUMI) has filed a final short form prospectus to offers up to 16,000,000 units at a price of $0.25 per Unit for gross proceeds of up to $4,000,000 in the offering jurisdictions of British Columbia, Alberta, and Ontario. The offering is expected to close on or about September 10, 2020.

Numinus is a company that is creating an ecosystem of health solutions centered on developing and supporting the safe, evidence-based, accessible use of psychedelic-assisted therapies. The company said it would 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 more particularly described in the Prospectus.  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 licenses, and for general operating expenses.

Deal Details

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 $0.35 per common share for a period of two years from issuance. The company said it has received conditional approval of the Offering from the TSX Venture Exchange, and for the listing of the common shares comprised within the Units, the common shares issuable on exercise of the Warrants and common shares associated with compensation to the Agent.

The Company

Numinus Bioscience includes a 7,000 square foot research and testing laboratory as well as numerous Health Canada licenses (through its wholly-owned subsidiary Salvation Botanicals), including a cannabis testing license that provides established and growing revenue. It is also a late-stage applicant for cannabis processing. Additionally, the company holds a dealer’s license which allows it to import, export, possess, and test MDMA, psilocybin, psilocin, DMT, and mescaline, and it is the first publicly listed company in Canada to be issued a Health Canada license to produce and extract psilocybin from mushrooms for the purpose of developing proprietary extraction methods.

These licenses will allow Numinus to support the growing number of studies on the potential benefits of psychedelic therapies through research projects, product development, and the supply and distribution of these substances. Numinus R&D leverages established relationships to position the Company for partnerships to host studies, develop medical and therapeutic protocols, and influence regulatory approval. Numinus Health, with one clinic already prototyping systems for efficiency and profitability, is dedicated to delivering therapies that enhance and supplement existing options—centered around psychedelic-assisted therapies when and where regulated—for people wanting lasting physical, mental, and emotional health.