VANCOUVER, BC, Dec. 16,
2024 /PRNewswire/ - Numinus Wellness Inc.
(TSX: NUMI) (OTCQX: NUMIF) ("Numinus" or the
"Company"), a leader in mental health care specializing in
innovative and evidence-based treatments, today provided an update
with respect to its previously announced management cease trade
order ("MCTO") in connection with the Company's filing of
its audited annual financial statements (the "Audited Financial
Statements"), management discussion and analysis (the
"MD&A"), and annual information form (the "AIF")
for the financial year ended August 31, 2024 and the
applicable CEO and CFO certifications (together with the Audited
Financial Statements, the MD&A, and the AIF, the "Annual
Filings").
Further to the Company's news release dated December 3, 2024 (the "Announcement"), the
Company's principal regulator, the British Columbia Securities
Commission (the "Commission"), granted the MCTO on
December 2, 2024, under National
Policy 12-203 – Management Cease Trader Orders ("NP
12-203"). Pursuant to the MCTO, the Chief Executive Officers
and the Chief Financial Officer of the Company may not trade in
securities of the Company until such time as the Company files the
Annual Filings and the Commission revokes the MCTO. During this
period, the Company will cease any share buy-back activities under
its normal course issuer bid, and has undertaken not to, directly
or indirectly, issue or acquire securities from an insider or
employee of the Company.
The MCTO does not affect the ability of shareholders to trade
their securities.
The Company's Board of Directors and management are continuing
to work with its accounting team to prepare the Annual Filings as
soon as practicable. The delay in filing the Annual Filings is a
result of unexpected delays experienced by the Company. It is the
Company's reasonable expectation that the Annual Filings will be
finalized by January 28, 2025.
The Company will issue a news release announcing completion of
filing of the Annual Filings at such time as they are completed and
filed. Until the Company files the Annual Filings, it will comply
with the alternative information guidelines set out in under NP
12-203 including issuing bi-weekly default status reports by way of
news releases, which will be filed on SEDAR+.
In addition, the Company confirms that since the date of the
Announcement: (i) there has been no failure by the Company in
fulfilling its stated intentions with respect to satisfying the
provisions of the alternative information guidelines set out in NP
12-203; (ii) there has not been any other specified default by the
Company under NP 12-203; (iii) the Company is not subject to any
insolvency proceedings; and (iv) there is no other material
information concerning the affairs of the Company that has not been
generally disclosed.
About Numinus
Numinus Wellness Inc. (TSX: NUMI) helps people to heal and be
well through the development and delivery of innovative mental
health care and access to safe, evidence-based psychedelic-assisted
therapies. The Numinus model – including psychedelic research and
clinic care – is at the forefront of a transformation aimed at
healing rather than managing symptoms of depression, anxiety,
trauma, pain and substance use. At Numinus, we are leading the
integration of psychedelic-assisted therapies into mainstream
clinical practice and building the foundation for a healthier
society. Learn more at www.numinus.com and follow us on
LinkedIn, Facebook, and Instagram.
Forward Looking Statements
Statements and other information contained in this press release
about anticipated future events constitute forward-looking
statements. Forward-looking statements are often, but not always,
identified by the use of words such as "seek", "anticipate",
"believe", "plan", "estimate", "expect", and "intend" and
statements that an event "may", "will", "should", "could" or
"might" occur or other similar expressions. In particular, and
without limitation, this news release contains forward-looking
statements respecting the Company's reasonable expectation that the
Annual Filings will be finalized by January
28, 2025 and the Company's compliance with the MCTO and NP
12-203. Forward-looking statements are subject to risks and
uncertainties and other factors that could cause actual results to
differ materially from those contained in the forward-looking
statements, including the results of further research into MDMA, if
any, the FDA and other regulators' decisions in respect of MDMA and
other psychedelic medications, restrictions that may be placed on
the use of psychedelic compounds by regulatory authorities; safety
and efficacy of psychedelic-assisted therapy; acceptance, uptake
and commercialization of psychedelic assisted therapy, if any;
dependence on obtaining regulatory approvals, and other risks that
are set forth in our annual information form dated November 29, 2023, and available on SEDAR at
www.sedarplus.ca. Forward-looking statements are based on estimates
and opinions of management at the date the statements are made.
Numinus does not undertake any obligation to update forward-looking
statements even if circumstances or management's estimates or
opinions should change except as required by applicable laws.
Investors should not place undue reliance on forward-looking
statements.
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SOURCE Numinus Wellness Inc.
