Acquisition strengthens clinic portfolio for
mental health treatment using psychedelic-assisted
therapies
VANCOUVER, BC, Sept. 23, 2021 /CNW/ - 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 it
has closed its acquisition of the Neurology Centre of Toronto (NCT), a leading Canadian provider of
clinical neurologic care. The purchase agreement was previously
announced on July 6, 2021.
Founded in 2017 by Dr. Evan Lewis
(MD), NCT will operate as the "Neurology Centre of Toronto by Numinus" and continue under Dr.
Lewis' leadership. Dr. Lewis will assume the role of VP,
Psychedelic Neurology Services at Numinus. The acquisition expands
Numinus' presence into Ontario, in
addition to an existing clinic and research facility in
British Columbia, and clinics in
Quebec.
Over its years in operation, NCT has established itself as a
clinical neurology leader, in particular regarding the use of
medical cannabis for both adult and pediatric patients. In
addition, NCT has developed a rapid access care model that
increases patient throughput, reduces wait times, improves
cost-effectiveness and facilitates scaling of services. These
developments will form the basis for NCT by Numinus to expand into
a clinical neurology centre with specialization in psychedelic
neurology.
"NCT by Numinus represents an important paradigm shift in
neurologic care," said Dr. Lewis. "By accounting for both medical
and psychological needs while incorporating innovative
psychedelic-assisted therapies, we aim to help patients improve
their overall quality of life in an integrated and sustainable
way."
"We are honoured to welcome such innovators to Numinus and look
forward to working together to advance our mission of delivering
transformative healing," said Payton
Nyquvest, Numinus CEO and Chair. "With neurologic care in
the Numinus portfolio, we continue to thoughtfully grow our patient
and revenue base while increasing access for communities in need.
We are excited to further expand our services as pioneers of
psychedelic medicine and transformative mental health care."
Current treatments are limited for neurological disorders such
as concussion, migraine, cluster headache, neuropathic pain
syndromes and epilepsy, particularly when they have comorbid mental
health challenges such as depression and anxiety. Development of
novel therapies is needed to address both medical and psychological
components of such diseases. Research shows that psychedelic
medications such as psilocybin and MDMA open new pathways in the
brain that, in conjunction with professional therapy, can treat a
host of mental health disorders. NCT by Numinus will explore the
application of psychedelic-assisted therapies in neurologic
care.
Terms of the agreement:
Numinus paid the following
consideration to complete the Transaction:
- $300,000 in cash upon closing of
the Transaction
- $200,000 in Numinus shares upon
closing of the Transaction
- Future performance-based payments totaling up to $500,000 in Numinus shares
About Numinus
Numinus Wellness (TSX-V: NUMI) helps
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 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 use.
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 www.numinuswellness.com and follow us on LinkedIn,
Facebook, Twitter, and Instagram.
About Neurology Centre of Toronto
NCT is a multi-disciplinary,
community-based, publicly-funded neurology clinic centrally located
in midtown Toronto. NCT utilizes a
model of care that brings together neurologists, neurology-related
specialists and allied health practitioners to address the complex
conditions that affect patients' health and well-being. The NCT
team assesses a wide range of neurologic conditions and provides
specialty care in the areas of epilepsy, concussion, brain injury,
headache & migraine and the treatment of neurologic disorders
with medical cannabis. NCT strives to deliver comprehensive
neurologic care organized around its core values of patient-centred
care, collaboration, community, health equity and innovation that
focuses on transforming the lives of our patients.
Forward-looking statements
This press 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
regarding future performance are "forward-looking
statements". Forward-looking statements can be identified by
the use of words such as "expects", "does not expect", "is
expected", "believes", "intends", "anticipates", "does not
anticipate", "believes" or variations of these words, expressions
or statements, that certain actions, events or results "may",
"could", "would", "might" or "will be" taken, will occur or will be
realized. Such forward-looking statements involve risks,
uncertainties and other known and unknown factors that could cause
actual results, events or developments to differ materially from
the results, events or developments expected and expressed or
implied in such forward-looking statements. These risks and
uncertainties include, but are not limited to, dependence on
obtaining and maintaining regulatory approvals, including the
acquisition and renewal of federal, provincial, municipal, local or
other licenses, and any inability to obtain all necessary
government authorizations, licenses and permits to operate and
expand the Company's facilities; regulatory or policy changes
such as changes in applicable laws and regulations, including
federal and provincial legalization, due to fluctuations in public
opinion, industry perception of integrative mental health,
including the use of psychedelic-assisted therapy, delays or
inefficiencies or any other reason; any other factor or
development likely to hamper the growth of the market; the
Company's limited operating and profitability track
record; dependence on management; the Company's need for
additional financing and the effects of financial market conditions
and other factors on the availability of
capital; competition, including that of more established
and better funded competitors; the continued impact of the
COVID-19 pandemic; and the need to build and maintain alliances and
partnerships, including with research and development companies,
customers and suppliers. These factors should be carefully
considered, and readers are cautioned not to place undue reliance
on forward-looking statements. Despite the Company's efforts
to identify the main risk factors that could cause actual measures,
events or results to differ materially from those described in
forward-looking statements, other risk factors may cause measures,
events or developments to materially 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 does
not undertake to revise forward-looking statements, even if new
information becomes available as a result of future events, new
facts or any other reason, except as required by applicable
laws.
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 news release.
View original content to download
multimedia:https://www.prnewswire.com/news-releases/numinus-completes-acquisition-of-neurology-centre-of-toronto-301383645.html
SOURCE Numinus Wellness Inc.