Numinus Announces Update to Escrow Release Schedule

VANCOUVER, BC, June 25, 2021 /PRNewswire/ – Numinus Wellness Inc. («Numinus» or the «Company») (TSXV: NUMI), a mental health care company…

VANCOUVER, BC, June 25, 2021 /PRNewswire/ – 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, in relation to its graduation from Tier 2 to Tier 1 of the TSX Venture Exchange (the «Exchange»), all securities of Numinus which were subject to a Tier 2 escrow release  schedule  pursuant to the Value Security Escrow Agreement dated May 15, 2020  will be subject to a Tier 1 release schedule.

Prior to the Company’s graduation to Tier 1 of the Exchange, the Company had 21,360,351 shares, 205,740 warrants and 450,000 options remaining in escrow. In connection with the graduation, 12,460,209 shares, 120,015 warrants and 337,500 options will be released from escrow within ten days of the Exchange’s bulletin dated June 16, 2021. The securities that remain in escrow, namely 8,900,142 shares, 85,725 warrants and 112,500 options, will be released from escrow on November 15, 2021.

In addition, the Company wishes to make a correction to its news release dated June 18, 2021 (the «News Release») with respect to the Company’s graduation to Tier 1 of Exchange. The Company confirms that it is an industrial issuer rather than a life sciences issuer as was incorrectly stated in the News Release.

About Numinus

Numinus Wellness (TSX-V: NUMI) helps people 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.