Novamind Inc. NVMDF

SHARE SWAP

[yvrean]

Does anyone else have problems with holding NM shares that are not yet converted to NUMI shares and thus cannot trade them?

Is anyone else concerned that NUMI shares are dropping like a rock and there is nothing you can do about it?

At least if the share swap whas made in a timely manner a holder of NUMI shares could sell them, but not if you have no record of owning NUMI shares because your NM shares are not yet converted.

Below is an email from NUMINUS investor relations avoiding my question of why has it taken this long for NUMINUS to have had this in place and ready for execution as quick as possible.

By the way, the longer it takes for the share conversion, the lower the price of this transaction becomes as you are still only getting .84 NUMI share for each NM share that YOU HAVE NO CONTROL OVER AT THIS POINT.

Jamie Kokoska <[e-mail]>	Wed, 15 Jun, 15:30 (16 hours ago)
to me, NUMINUS

 

Hi Ernest,

 
Thanks for your question.  Share ‘swaps’ like this take time to execute as they are considered corporate actions and are subject to the same T+2 processing as stock trades.  In this transaction, first the shares are issued by us, then the land in custodial accounts/transfer agents and finally settle in the accounts of former Novamind shareholders.  The process (commonly referred to as the T+2, or trade + 2 days) is the same for any stock purchase/sale, or in this case, stock swap.  There would have been no way of speeding up the process.
 
https://www.schwab.com/learn/story/stock-settlement-why-you-need-to-understand-t2-timeline
 
https://www.lexology.com/library/detail.aspx?g=c11410d2-f560-4cdc-8b35-0fa730fc2ddf
 
https://www.stikeman.com/en-ca/kh/canadian-securities-law/T2-Settlement-Comes-to-Canada
 
We saw your social media posts as well, so for further clarity, we believe the reason no one else is asking about this is due to their knowledge of the trade settlement process noted above.
 
We’re happy to answer any other questions you have over email.
 
Kind regards,
 
Jamie
 
 
 


 
JAMIE KOKOSKA
Vice President, Investor Relations & Communications
Numinus Wellness Inc.  (TSX: NUMI)

Email: [e-mail]
Investor Website: www.investors.numinus.com
 
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I respectfully acknowledge that the land on which I work is the unceded traditional territory of the Coast Salish Peoples, including the traditional territories of xmθkwym (Musqueam), Swxw7mesh (Squamish), Sllwta (Tsleil-Waututh) and Snuneymuxw Nations.  

(Pronouns: She/Her/Hers)
 
 

From: Ernie
Sent: June 15, 2022 3:18 PM
To: NUMINUS - IR
Subject: Share swap delay

 

CAUTION: External Sender

 

Novamind shares are now Numinus and Numinus shares keep losing value and Novamind shareholders cannot make trades to get out of this holding because Numinus could not be bothered to make this share swap available for the 13th. What bothers me more than all of this is there is no other shareholder voicing their concern other than me. Is everyone too stoned to care? Perhaps the SEC would like to investigate this transaction, because that major single person at Novamind who made this deal has his money, but no other shareholders can make trades???????

Thanks

Ernest