DAILY HIVE: Vancouver-based magic mushrooms wellness company completes $20.7 million IPO

Vancouver-based company that focuses on health and wellness through pharmaceutical magic mushrooms has completed a $20.7 million initial public offering.

Optimi Health Corp is “developing a vertically integrated Canadian functional mushroom brand that focuses on the health and wellness markets.”

The company says it also intends to cultivate, extract, process and distribute high-quality strains of fungi products at its proposed two facilities comprising a total of 20,000 square feet (presently under construction) located in Princeton, British Columbia.

Founded by four Vancouver-based entrepreneurs who have been friends since the early days of high school, the company’s advisory board includes lululemon founder Chip Wilson.

Optimi’s team includes Dane Stevens, co-founder of Vancouver’s leading boutique jewellery brand Cavalier, Bryan and Jacob Safarik, who own and operate BC Green, one of Canada’s leading premium cannabis producers, and J.J. Wilson, who is co-founder of Ride Cycle Club and a Partner at the Very Polite Agency.

“At its core, Optimi is positioned to be Canada’s first large-scale cultivator of natural, pharmaceutical-grade, psychedelic mushrooms (yes, magic mushrooms),” J.J. Wilson, Chairman of the Board, told Daily Hive.

“Upon licensing of our purpose-built facilities, we will be producing natural psilocybin mushrooms to support not only our own future products, but also to others in the industry requiring GMP product, as an alternative to the standard drugs we see today used to treat a variety of human conditions such as depression, anxiety, PTSD, and much more. The true power and opportunity of psilocybin is still being researched, but current data shows huge potential for positive impact in humans.”

Princeton facility/Courtesy of Optimi Health

Source: Vancouver-based magic mushrooms wellness company completes $20.7 million IPO | Venture (dailyhive.com)

Filed: Vancouver, Edmonton, Calgary, Toronto, Montreal

ABOUT OPTIMI

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

FOR INTERVIEW REQUESTS OR FURTHER INFORMATION PLEASE CONTACT:

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

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 grown at its two facilities comprising a total of 20,000 square feet in Princeton, British Columbia, making it the largest psilocybin and MDMA cultivator in North America.

FOR INTERVIEW REQUESTS OR FURTHER INFORMATION PLEASE CONTACT:

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

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 activities proposed to be conducted under the Company’s dealer’s license and associated business related to Psilocybin and Psilocin 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.

Products do not contain psilocybin

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