VANCOUVER, BC, Jan. 30,
2025 /CNW/ - Numinus Wellness Inc.
("Numinus" or the "Company") (TSX: NUMI) (OTCQX:
NUMIF) (FSE: LR23), a mental healthcare company advancing
traditional and innovative behavioral health treatments including
safe, evidence-based psychedelic-assisted therapies, announces its
principal regulator, the British Columbia Securities Commission
(the "BCSC"), issued a "failure to file" cease trade order
("FFCTO"), in accordance with Multilateral Instrument 11-103
Failure-to-File Cease Trade Orders in Multiple Jurisdictions. The
Toronto Stock Exchange (the "TSX") has suspended trading in
the Company's securities due to the FFCTO.
The FFCTO was issued as a result of the Company's delay in
filing its audited annual financial statements and accompanying
management's discussion and analysis ("MD&A") and Annual
Information Form for the fiscal year ended August 31, 2024 (the "Annual Filings"),
which were due on November 29, 2024
as well as the Company's interim financial statements and
accompanying MD&A for the period ending November 30, 2024 (the "Interim Filings"),
in accordance with Canadian securities laws.
Despite the FFCTO, a beneficial holder of a security of the
Company who is not, and was not as of the date of the CTO, an
insider or control person of the Company may sell securities of the
Company acquired before the date of the FFCTO if: (a) the sale is
made through a "foreign organized regulated market", as defined in
section 1.1 of the Universal Market Integrity Rules of the
Investment Industry Regulatory Organization of Canada; and (b) the sale is made through an
investment dealer registered in a jurisdiction of Canada in accordance with applicable
securities legislation. Holders of the Company's securities are
urged to consult with their own investment advisors or legal
counsel about the implications of the FFCTO.
The delay in Annual and Interim Filings results from
complexities arising from the Company's sale of its U.S. wellness
clinics. The Company regrets this delay in filing and the
inconvenience to shareholders. The audit is well underway, and the
Annual Filings and subsequent Interim Filings will be filed as soon
as possible. The FFCTO will remain in place until such time as the
Annual and Interim Filings and all continuous disclosure
requirements have been filed and the Company receives an order from
the BCSC revoking the FFCTO. The Company will make further
announcements regarding the status of the Annual and Interim
Filings and the FFCTO as and when appropriate.
"We continue to be active in conducting clinical trials at Cedar
Clinical Research and serving learners in our practitioner training
businesses," said Michael Tan, CEO
of the Company. "We look forward to resolving our regulatory delays
and moving forward with our growth strategy."
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 – technology-driven clinic support,
clinical trial research and comprehensive practitioner training –
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. 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, 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.
SOURCE Numinus Wellness Inc.
