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Numinus Closes CDN 26m Acquisition of Canadian Mental Health Company Novamind.

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Vincent

MANews-(C)2009-2022

Canadian psychotherapy provider Numinus Wellness Inc. (TSX: NUMI) (OTCQX: NUMIF) has closed the acquisition of all issued and outstanding shares of Canada-based mental health company Novamind Inc. in an all-share transaction, the company said.

Novamind is being acquired by way of a court-approved plan of arrangement, for total consideration of approximately CDN 26.2m (USD 20.8m) on a fully diluted in-the-money basis, the company said.

Following the transaction, the combined company will operate 13 wellness clinics and will be positioned as a psychedelic-assisted therapy provider in North America, leading its peer group in revenue with approximately CDN 10m (USD 7.9m) in annual pro-forma revenue based on the trailing four quarters.

The offer price represents a premium of 51% to Novamind's 20-day volume-weighted average price on the Canadian Securities Exchange (the CSE) as of April 8, 2022.

Cozen O'Connor LLP...

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