Creates an industry-leading North American platform for psychedelic clinics and clinical research.After giving effect to the Transaction, Novamind Shareholders will hold ~18% ownership in the pro-forma company (on a fully diluted in-the-money basis). The offer price represents a premium of 51% to Novamind’s 20-day volume-weighted average price (“VWAP”) on the Canadian Securities Exchange (the “CSE”) as of April 8, 2022. Under the terms of the Agreement, shareholders of Novamind (“Novamind Shareholders”) will receive 0.84 of a common share of Numinus (the “Exchange Ratio”) for each Novamind share held, implying an offer price of $0.44 per Novamind Share. We are excited to join Numinus, a true leader in mental health innovation.” The combined entity is supported with over C$50 million in pro-forma capital and positioned with distinct capabilities to serve a growing and diverse group of stakeholders. and Numinus’ leadership in psychedelic-assisted psychotherapy in Canada creates a best-in-class company. The combination of Novamind’s network of mental health clinics and research sites in the U.S. Yaron Conforti, CEO and Co-Founder, Novamind, said, “This transaction offers significant value for Novamind’s shareholders and provides compelling new opportunities for our employees, patients and research partners. We look forward to welcoming the Novamind team to the Numinus family.” Our combined capabilities will deliver exceptional value for our clients, employees, and shareholders. Nyquvest continued: “We expect this acquisition will significantly bolster our financial performance, growing Numinus’ annual revenue to more than five times our current levels, and driving meaningful margin improvement through identified operating efficiencies. market presence, complementary client programming and respected clinical research capabilities allow us to accelerate our strategic growth plans and broaden access to healing and wellness.” “We prioritize working with the best partners in this industry and Novamind’s U.S. platform through eight established, reputable, efficiently operating and revenue-producing clinics,” says Payton Nyquvest, Founder and CEO, Numinus. The Novamind acquisition presents a transformational opportunity for Numinus to launch a strong U.S. “Since Numinus began, we have always strived to be the most trusted, evidence-based leader in psychedelic-assisted therapy and medicine. (“Novamind”) (CSE: NM) (OTCQB: NVMDF) (FSE: HN2), are pleased to announce that they have entered into a definitive arrangement agreement (the “Agreement”) pursuant to which Numinus will acquire all of the issued and outstanding common shares of Novamind (the “Novamind Shares”) in an all-share transaction, by way of a court-approved plan of arrangement, for total consideration of approximately C$26.2 million on a fully diluted in-the-money basis (the “Transaction”).įollowing the Transaction, the combined company will operate 13 wellness clinics and will be positioned as a leading psychedelic-assisted therapy provider in North America, leading its peer group in revenue with approximately C$10 million in annual pro-forma revenue based on the trailing four quarters. VANCOUVER, BC and TORONTO, April 12, 2022 /PRNewswire/ – Numinus Wellness Inc. (“Numinus”, the “Company”) (TSX: NUMI) (OTCQX: NUMIF) and Novamind Inc. Transaction expected to close in June 2022, following anticipated shareholder approval.Acquisition is expected to generate C$3 million in annual cost synergies.
Combined C$10 million in annual pro-forma revenue based on the trailing four quarters.Hosting clinical trials for MDMA ( MAPS Public Benefit Corporation), psilocybin (the Usona Institute), LSD (MindMed) and ketamine (the University of Utah).Shared mission of responsibly reintroducing psychedelic therapy to mental healthcare.Complementary businesses combine to create a preeminent North American platform with operations spanning 13 wellness clinics, four research sites and one bioanalytical laboratory.
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