OPTIMI HEALTH CORP. CLOSES OVERSUBSCRIBED NON-BROKERED PRIVATE PLACEMENT FOR GROSS PROCEEDS OF $4.5 MILLION

Vancouver, British Columbia, September 29, 2020, Optimi Health Corp. (“Optimi” or the “Company”) is pleased to announce that it has closed an oversubscribed non-brokered private placement (the “Private Placement”) of 17,963,005 special warrants (each, a “Special Warrant”) at a price of $0.25 per Special Warrant for aggregate gross proceeds of $4,490,751.25 Million. 

Each Special Warrant entitles the holder thereof to automatically receive, without additional payment, one unit (a “Unit”) in the capital of the Company upon the earlier of (i) January 12, 2020, and (ii) the second business day after the Company receives a receipt for a final long form prospectus qualifying the distribution of the Units. Each Unit consists of one common share (a “Share”) and one common share purchase warrant (a “Warrant”). Each Warrant entitles the holder thereof to acquire one Share at a price of $0.40 for a period of two years from the closing of the Private Placement. 

The net proceeds of the Private Placement will be used to advance the Company’s functional mushroom growth and R&D facilities in Princeton, British Columbia, to progress the Company’s product line of functional mushroom supplements and to pursue its development of its pharmaceutical grade facility.

About Optimi Health Corp.

A vertically integrated Cultivation to Consumer (CTC) business, Optimi aims to cultivate and extract the finest strains of mushrooms inside two purpose built GMP certified facilities, strategically located in Princeton, British Columbia, and to leverage existing supply chain efficiencies to deliver a comprehensive line of nutraceutical products directly to consumers. Optimi is building multiple revenue generating assets, setting the foundation to scale, diversify, and capitalize on the immense opportunity within the rapidly expanding business of fungi.

ON BEHALF OF THE BOARD OF OPTIMI HEALTH CORP.

Mike Stier

President and CEO

For further information contact:

Mike Stier

President and CEO

+1 778-930-1321
mike@greendropcapital.com

Further information about the Company is available on its website www.optimihealth.ca.

Forward-Looking Statements

This news release contains “forward-looking information” within the meaning of applicable Canadian securities laws relating to the Private Placement.  Forwardlooking statements include, but are not limited to, statements with respect to the expected use of proceeds of the Private Placement. Although the Company believes, in light of the experience of its officers and directors, current conditions and expected future developments and other factors that have been considered appropriate, that the expectations reflected in this forward-looking information are reasonable, undue reliance should not be placed on them because the Company can give no assurance that they will prove to be correct. Actual results and developments may differ materially from those contemplated by these statements. The statements in this release are made as of the date of this release and the Company assumes no responsibility to update them or revise them to reflect new events or circumstances other than as required by applicable securities laws. The Company undertakes no obligation to comment on analyses, expectations or statements made by third-parties in respect of the Company, its securities, or its financial or operating results (as applicable).

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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