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North America’s New Industry Leader in Psychedelic Therapy & Research

Stockhouse Editorial
1 Comment| April 12, 2022

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Two complementary businesses in the psychedelic space will combine to create a “preeminent North American platform” with operations spanning 13 wellness clinics, four research sites, and one bioanalytical laboratory, with a shared mission of responsibly reintroducing psychedelic therapy to mental healthcare.

On Tuesday, Novamind Inc. (CSE: NM, Forum) – a leading mental health company specialized in psychedelic medicine and Numinus Wellness Inc. (TSX-V:NUMI, Forum) – a company creating an ecosystem of health solutions centered around developing and supporting the safe, evidence-based, accessible use of psychedelic-assisted psychotherapies announced on Tuesday that they have entered into a definitive arrangement agreement where Numinus will acquire all of the issued and outstanding common shares of Novamind in an all-share transaction, for total consideration of approximately $26.2 million (CAD) on a fully diluted in-the-money basis.

Numinus’ Founder and CEO, Payton Nyquvest said in a news release that the acquisition presents a transformational opportunity for his company to launch a strong US platform through eight established, reputable, efficiently operating and revenue-producing clinics.

“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. Our combined capabilities will deliver exceptional value for our clients, employees, and shareholders. We look forward to welcoming the Novamind team to the Numinus family.”

The acquisition is expected to generate $3 million (CAD) in annual cost synergies and they will have a combined $10 million (CAD) in annual pro-forma revenue based on the trailing four quarters.

The transaction is expected to close in June 2022, following anticipated shareholder approval.


FULL DISCLOSURE: Novamind Inc. and Numinus Wellness Inc. are clients of Stockhouse Publishing.

New to investing in Cannabis? Check out Stockhouse tips on How to Invest in Cannabis Stocks and some of our Top Cannabis Stocks.

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Comments

A merger between these two companies should help accelerate the process of getting psychedelics approved by the FDA and into the market quicker.
(0)
April 14, 2022

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