Numinus Wellness Inc. Raises $6 Million

Numinus Wellness Inc. (OTCQX: NUMIF) has successfully orchestrated a financing strategy to secure $6 million by entering into a definitive agreement for a bought deal, co-led by Eight Capital and a consortium including Stifel GMP, announced on Thursday.

This financial maneuver involves the consortium’s acquisition of 50 million units of Numinus, priced at $0.12 each. This fundraising endeavor marks a significant progression for Numinus, a company at the forefront of mental health care innovation, particularly in the development of psychedelic-assisted therapeutic approaches.

Payton Nyquvest, Numinus CEO, highlighted the significance of this financial engagement, noting the involvement of experienced healthcare investors and a prominent mental health research entity specializing in psychedelic studies. This, according to Nyquvest, underscores the recognition and validation of Numinus’s efforts towards cost efficiency and its pioneering work in the field.

The investment round also welcomed contributions from Integrated V.C. venture fund and the Multidisciplinary Association for Psychedelic Studies (MAPS), a leading nonprofit organization dedicated to advancing research on psychedelics and cannabis for therapeutic purposes. MAPS lauded Numinus’s “asset-light” strategy towards mental health treatment, especially applauding its initiatives in clinical trials and the specialized training of therapists, which includes practical experience with psychedelics.

Rick Doblin, founder and president of MAPS, expressed a longstanding desire within the therapeutic community for personal psychedelic experience as part of professional training. This, he believes, equips therapists with a deeper understanding and readiness to employ these medicines in patient care. Doblin views Numinus as a pivotal player in ensuring therapists have access to voluntary experiential training, thereby becoming adept in the latest therapeutic medicines and methodologies.

The financial agreement, expected to conclude by February 7, 2024, packages each unit with one common share and one warrant. This warrant entitles the holder to acquire an additional share at $0.18 within a 24-month span, alongside an over-allotment option that could raise the fundraising total by allowing the purchase of up to an additional 15% of units.

Numinus states that the capital raised from this offering will be allocated towards working capital and general corporate endeavors, signifying a strategic step forward in bolstering its position within the mental health and psychedelic therapy sectors.