Numinus Wellness Inc (NUMIF)

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Numinus Wellness Completes Acquisition of Montreal-based Mindspace Wellbeing

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



https://www.newswire.ca/news-releases/numinus-wellness-completes-acquisition-of-montreal-based-mindspace-wellbeing-891369191.html