OPTIMI HEALTH FILES PRELIMINARY NON-OFFERING PROSPECTUS

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NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES

VANCOUVER, BC, — (GLOBE NEWSWIRE – November 2, 2020) – Optimi Health Corp.  (“Optimi” or the “Company”) developers of a vertically integrated functional mushroom brand focussed on the health and wellness sector, announced today that it has filed and received a receipt from the securities regulatory authorities in the Provinces of British Columbia, Alberta, Manitoba and Ontario for its preliminary non-offering long form prospectus dated October 20, 2020 (the “Prospectus”). The Prospectus contains important information relating to the Company and its currently issued securities and is subject to amendment as may be required by the applicable securities regulatory authorities.  A copy of the Prospectus is available under the Company’s profile on SEDAR (www.sedar.com).

The Prospectus is intended to qualify the distribution of units of Optimi (the “Units”) upon the exercise of 17,963,005 issued and outstanding special warrants (the “Special Warrants”).  Each Unit will be comprised of one common share of the Company and one share purchase warrant of the Company, with each such warrant exercisable into one common share of the Company at an exercise price of $0.40 for two (2) years.  The Company issued the Special Warrants on a private placement basis at a price of $0.25 each and received gross proceeds of $4,490,751.25.  The Special Warrants are not available for purchase pursuant to the Prospectus.

The Company is also pleased to announce that it has applied to list its common shares on the Canadian Securities Exchange (the “CSE”). Listing and trading of the Company’s common shares will be subject to the Company fulfilling all of the CSE’s listing requirements and the Company being receipted for a final prospectus with the securities regulatory authorities in the Provinces of British Columbia, Alberta, Manitoba and Ontario.

Once the Company clears any comments the securities regulatory authorities may have regarding the Prospectus, it will be invited to file a final prospectus at which time the Company will become a reporting issuer in Canada. The Company will provide further updates on this process as they become available. There can be no guarantee that a receipt for the final prospectus will be obtained from the applicable securities regulatory authorities.

For further information, please contact:

Optimi Health Corp.

Mike Stier, President & CEO

Tel: +1(778) 930-1321

Email: investors@optimihealth.ca

Web:  www.optimihealth.ca

About Optimi Health

Optimi Health is developing a vertically integrated Canadian functional mushroom brand that focuses on the health and wellness sector. The Company intends to cultivate, extract, process and distribute high quality strains of fungi products in its facility located in Princeton, British Columbia. Optimi intends to grow and process functional mushrooms in order to develop and sell its mushrooms and related health food products directly to consumers, and to other health food brands and distributors. 

Forward Looking Statements

This press release contains statements which constitute “forward‐looking information” within the meaning of applicable securities laws. Forward‐ looking information is often identified by the words “may,” “would,” “could,” “should,” “will,” “intend,” “plan,” “anticipate,” “believe,” “estimate,” “expect” or similar expressions. Readers are cautioned that forward‐looking information is not based on historical facts but instead reflect the Company’s management’s expectations, estimates or projections concerning the business of the Company’s future results or events based on the opinions, assumptions and estimates of management considered reasonable at the date the statements are made. Although the Company believes that the expectations reflected in such forward‐looking information are reasonable, such information involves risks and uncertainties, and undue reliance should not be placed on such information, as unknown or unpredictable factors could have material adverse effects on future results, performance or achievements. Among the key factors that could cause actual results to differ materially from those projected in the forward‐looking information are the following: changes in general economic, business and political conditions, including changes in the financial markets; decreases in the prevailing prices for products in the markets that the Company operates in; adverse changes in applicable laws or adverse changes in the application or enforcement of current laws; regulations and enforcement priorities of governmental authorities; compliance with government regulation and related costs; and other risks described in the Prospectus. Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward‐looking information prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected. Although the Company has attempted to identify important risks, uncertainties and factors which could cause actual results to differ materially, there may be others that cause results not to be as anticipated, estimated or intended. The Company does not intend, and does not assume any obligation, to update this forward‐looking information except as otherwise required by applicable law. 

No securities regulatory authority has either approved or disapproved of the contents of this news release. The Company’s securities have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, or any state securities laws, and may not be offered or sold in the United States, or to or for the account or benefit of any person in the United States, absent registration or an applicable exemption from the registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities in the United States, or in any other jurisdiction in which such offer, solicitation or sale would be unlawful.

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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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