Acquisition expands Numinus’ presence while improving psychedelic-assisted therapy landscape in Canada
VANCOUVER, BC, Feb. 8, 2021 /CNW/ – Numinus Wellness Inc. (“Numinus” or the “Company”) (TSXV: NUMI), a company creating an ecosystem of health solutions centered around developing and supporting the safe, evidence-based, accessible use of psychedelic-assisted psychotherapies (PAP), has closed its acquisition of Mindspace Psychology Services Inc. (DBA Mindspace Wellbeing), a leader and pioneer in psychedelic programming. The purchase agreement was previously announced on December 15, 2020.
Founded by Dr. Joe Flanders in 2011, Mindspace will continue under Dr. Flanders’ leadership. The acquisition expands Numinus’ presence into Quebec, building on its Vancouver office with two established locations and extensive virtual services as well as insights garnered from a decade of successful clinic management.
Terms of the agreement:
Numinus paid the following consideration to complete the Transaction:
- $500,000 in cash upon closing of the Transaction
- A time-based payout of 441,176 common shares of Numinus issued over the course of 24 months
- $100,000 in Numinus shares, issued at Market Price, per year on each of the first three (3) anniversaries of the Closing Date
- A multi-year performance payout of $800,000 in Numinus shares, issued at Market Price
Numinus Wellness Inc. (TSXV: NUMI) is a mental health and wellness company creating solutions centred around the development and delivery of safe, evidence-based, accessible psychedelic-assisted psychotherapy to help people heal and be well.
Numinus Health is delivering treatments to address physical, mental, and emotional health, through clinics and virtual services.
Numinus R&D is developing clinical and therapeutic models of psychedelic-assisted psychotherapy delivery in collaboration with partners and health regulators, setting the stage for approved and regulated use in mental health care.
Numinus Bioscience is developing methods and formulas for psychedelic science. Health Canada licences, scientific expertise, and new technologies facilitate internal research and third-party contract services for revenue generation.
About Mindspace Wellbeing
Founded in 2011, Mindspace Wellbeing is a Montreal-based full-service well-being organization that began as a state-of-the-art psychology clinic with a focus on evidence-based approaches to mental health. Mindspace boasts exclusively PhD-level psychotherapists and is focused on evidence-based approaches to mental health.
In 2019, Mindspace launched its Psychedelic Harm Reduction and Integration programming, pioneering first-of-its-kind training in Canada for clinicians helping their clients work safely with psychedelics. In 2020, the company expanded its psychedelic offering to administer ketamine-assisted psychotherapy for treatment-resistant depression.
Mindspace has two Montreal locations that support more than 1,400 clients, through in-person in-person and virtual services. Mindspace also hosts a podcast with more than 4,000 subscribers.
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