Major Acquisition Announced This Week | Payton Nyquvest – CEO Numinus Wellness

Cannabis News World

May 29

Major Acquisition Announced This Week | Payton Nyquvest – CEO Numinus Wellness
CANNANNEW REPORT

Watch Video: The Press Release North American Industry Leader in Psychedelic Therapy and Research NEWS PROVIDED BY Numinus Wellness Inc. Apr 12, 2022, 07:00 ET Complementary businesses combine to create a preeminent North American platform with operations spanning 13 wellness clinics, four research sites and one bioanalytical laboratory Shared mission of responsibly reintroducing psychedelic therapy to mental healthcare Hosting clinical trials for MDMA (MAPS Public Benefit Corporation), psilocybin (the Usona Institute), LSD (MindMed) and ketamine (the University of Utah) Combined C$10 million in annual pro-forma revenue based on the trailing four quarters Acquisition is expected to generate C$3 million in annual cost synergies Transaction expected to close in June 2022, following anticipated shareholder approval VANCOUVER, BC and TORONTO, April 12, 2022 /PRNewswire/ – Numinus Wellness Inc. ("Numinus", the "Company") (TSX: NUMI) (OTCQX: NUMIF) and Novamind Inc. ("Novamind") (CSE: NM) (OTCQB: NVMDF) (FSE: HN2), are pleased to announce that they have entered into a definitive arrangement agreement (the "Agreement") pursuant to which Numinus will acquire all of the issued and outstanding common shares of Novamind (the "Novamind Shares") in an all-share transaction, by way of a court-approved plan of arrangement, for total consideration of approximately C$26.2 million on a fully diluted in-the-money basis (the "Transaction"). Following the Transaction, the combined company will operate 13 wellness clinics and will be positioned as a leading psychedelic-assisted therapy provider in North America, leading its peer group in revenue with approximately C$10 million in annual pro-forma revenue based on the trailing four quarters. "Since Numinus began, we have always strived to be the most trusted, evidence-based leader in psychedelic-assisted therapy and medicine. The Novamind acquisition presents a transformational opportunity for Numinus to launch a strong U.S. platform through eight established, reputable, efficiently operating and revenue-producing clinics," says Payton Nyquvest, Founder and CEO, Numinus. "We prioritize working with the best partners in this industry and Novamind's U.S. market presence, complementary client programming and…