Numinus Wellness Inc. - NUMIF STOCK NEWS

Numinus Wellness Inc. (TSX: NUMI, OTCQX: NUMIF) announced a strategic wind-down of several non-operating subsidiaries through bankruptcy proceedings to streamline its corporate structure and improve operational efficiency. The affected subsidiaries include Mindspace Services Inc., Neurology Centre of Toronto Inc., Numinus Bioscience Inc., Salvation Bioscience Inc., and Numinus Health Corp.

The company emphasized that these actions will not affect Numinus Wellness Inc.'s ability to continue operations, as it maintains focus on its core research and training businesses in mental health solutions and psychedelic-assisted therapies. Dodick Landau Inc. has been engaged to oversee the bankruptcy proceedings, and the company will ensure completion of all required CRA filings for the affected entities.

Numinus Wellness (TSX: NUMI, OTCQX: NUMIF) announced key leadership changes, with Michael Tan appointed as CEO, succeeding Payton Nyquvest who transitions to Executive Chair. Tan, who joined as COO in 2019 and became President in 2022, has overseen operations, M&A activities, and organizational realignments. In his new role, he will focus on strengthening clinical research and practitioner training programs while addressing emerging mental health care opportunities.

Nyquvest will remain actively involved in corporate strategy, investor relations, and strategic partnerships. The company also announced the resignation of Allen Morishita from its Board of Directors, who has served since Numinus' inception.

Numinus Wellness (TSX: NUMI, OTCQX: NUMIF) provided an update on its previously announced management cease trade order (MCTO) regarding the filing of its audited annual financial statements, management discussion and analysis (MD&A), and annual information form (AIF) for the fiscal year ending August 31, 2024. The British Columbia Securities Commission granted the MCTO on December 2, 2024, under National Policy 12-203 (NP 12-203). This order restricts the company's CEO and CFO from trading in company securities until the filings are complete and the MCTO is revoked.

During this period, Numinus will halt share buy-back activities and refrain from issuing or acquiring securities from insiders or employees. Shareholders, however, can continue to trade their securities. The company anticipates finalizing the filings by January 28, 2025, and will issue a news release upon completion. Until then, Numinus will comply with NP 12-203 by issuing bi-weekly default status reports.

Since the last announcement, Numinus confirms it has met its obligations under NP 12-203, has not experienced any new defaults, is not undergoing insolvency proceedings, and has no undisclosed material information.

Numinus Wellness (TSX: NUMI, OTCQX: NUMIF) provided an update regarding its management cease trade order (MCTO) related to delayed annual filings for the fiscal year ended August 31, 2024. The British Columbia Securities Commission granted the MCTO on December 2, 2024, restricting the CEO and CFO from trading company securities until the Annual Filings are completed.

During this period, the company has suspended its share buy-back program and prohibited securities transactions with insiders or employees. While shareholders can continue trading, the company expects to complete and file the Annual Filings by January 28, 2025. The delay is attributed to unexpected complications, and bi-weekly status updates will be provided on SEDAR+.

Numinus Wellness (TSX: NUMI, OTCQX: NUMIF) has sold its five U.S. wellness clinics to Stella for US$3.53 million, marking a strategic shift towards an asset-light business model. The deal includes a data-sharing partnership to develop AI-based clinic management solutions for mental health providers.

The transaction terms include US$2.08 million paid at closing, US$750,000 in monthly installments throughout 2025, and potential earn-out compensation of up to US$0.7 million. Numinus will leverage its experience of serving 50,000 unique individuals and processing 250,000 insurance-reimbursed claims to develop solutions for an estimated market of 200,000 U.S. mental health care providers.

The company's Cedar Clinical Research has conducted 24 clinical trials with nearly 1,100 patients, while its practitioner training program has attracted almost 2,000 learners from 18 countries since May 2024.

Numinus Wellness (TSX: NUMI, OTCQX: NUMIF) provided an update regarding its previously announced management cease trade order (MCTO). The order, granted by the British Columbia Securities Commission on December 2, 2024, restricts the CEO and CFO from trading company securities until the Annual Filings are completed. The delay affects the company's audited annual financial statements, MD&A, and annual information form for the year ended August 31, 2024.

During this period, Numinus will suspend share buy-back activities and won't issue or acquire securities from insiders or employees. The company expects to complete the Annual Filings by January 28, 2025. Shareholder trading remains unaffected, and the company will provide bi-weekly updates through news releases on SEDAR+.

Numinus Wellness (TSX: NUMI, OTCQX: NUMIF) has requested a temporary Management Cease Trade Order (MCTO) from the British Columbia Securities Commission due to delays in filing its audited annual financial statements for the year ended August 31, 2024. The company expects to miss the November 29, 2024 deadline but anticipates completing the Annual Filings by year-end. Numinus will issue bi-weekly status reports during the delay period and has implemented an insider trading blackout. The company confirms it is not under any insolvency proceedings and all material information has been disclosed.

Numinus Wellness has announced a strategic sale of its five Utah wellness clinics to Stella for US$3.53 million, alongside a unique data partnership agreement. The deal includes US$2.08 million paid at closing, US$750,000 in monthly installments throughout 2025, and up to US$0.7 million in deferred compensation.

The partnership grants Numinus access to operational data from Stella's network of 12 mental health clinics, enabling the development of advanced clinic management solutions. This strategic move allows Numinus to focus on developing technology-driven solutions for mental health care providers, leveraging their experience of serving 50,000 unique individuals and processing 250,000 insurance-reimbursed claims.

Numinus Wellness Inc. (TSX: NUMI) (OTCQX: NUMIF) comments on the FDA's decision to not approve Lykos Therapeutics' new drug application for MDMA-assisted therapy for PTSD. The FDA has requested an additional Phase 3 study to further examine safety and efficacy. Despite this setback, Numinus remains committed to advancing psychedelic therapies and continues to execute its plan for profitability with existing operations.

Numinus clinics have delivered over 43,600 Spravato® and ketamine treatments to patients. The company's Cedar Clinical Research has conducted studies involving four psychedelic medicines with over 50 subjects in the past 2.5 years. Numinus emphasizes its ongoing clinical trials work and commitment to research partnerships as more compounds advance through late-stage trials.

Additionally, Numinus has terminated its previously announced letter of intent to acquire MedBright AI Investments Inc.