NUMINUS WELLNESS INC - NUMIF STOCK NEWS

Numinus Wellness Inc. (TSX: NUMI, OTCQX: NUMIF) announced its participation in key psychedelic industry conferences. Notably, at the Catalyst Summit 2022 in Kingston (May 20-22), several executives, including Michael Tan and Sharan Sidhu, will lead panel discussions. Additionally, Numinus will present at the Psychedelic Therapeutics and Drug Development Conference 2022 in Washington, DC (May 23-24), focusing on regulatory navigation. Lastly, at the From Research to Reality Summit in Toronto (May 27-29), research presentations will showcase findings on MDMA-assisted therapy and psychedelics' impact on opioid use.

Numinus Wellness (TSX: NUMI) (OTCQX: NUMIF) has announced the launch of Music As Medicine, a series of ceremonial concerts exploring the integration of music in psychedelic-assisted therapy. The initiative will feature artists like Jon Hopkins and East Forest and will take place in various cities in the U.S. and Canada, starting with an event in Los Angeles on May 21, 2022. This series aims to highlight music's role in mental health and connect communities through innovative therapeutic experiences.

Numinus Wellness reported a remarkable 240% year-over-year revenue growth to $0.8 million for Q2 2022, driven by acquisitions. Gross margin surged to 29.1% from 6.5% in Q1 2022. The company generated a gross profit of $228,759, marking a 349% increase from the prior quarter. Despite these gains, Numinus faced a loss of $7.8 million. The company concluded the quarter with $48.3 million in cash. A proposed acquisition of Novamind is anticipated to increase revenue significantly, positioning Numinus as a leader in psychedelic-assisted therapies.

Numinus Wellness Inc. (TSX: NUMI, OTCQX: NUMIF) will participate in two virtual investor conferences in April 2022. Payton Nyquvest, Founder and CEO, is scheduled to present at the Sequire Cannabis & Psychedelic Conference on April 20 at 1:00 p.m. ET and at the KCSA Psychedelics Investor Conference on April 27 at 1:00 p.m. ET. Numinus focuses on mental health care, developing and delivering innovative therapies, including psychedelic-assisted treatments. For more details, visit www.numinus.com.

Numinus Wellness Inc. (TSX: NUMI) (OTCQX: NUMIF) has initiated the first MDMA-assisted therapy session at its clinics in Montreal and Vancouver as part of the MAPPUSX clinical trial for PTSD. This study is sponsored by the Multidisciplinary Association for Psychedelic Studies (MAPS) and focuses on the safety and efficacy of MDMA-assisted psychotherapy. The Montreal site recently began drug administration under the supervision of experienced therapists. This advancement signifies Numinus's commitment to integrating psychedelic therapies into clinical practice and enhancing treatment accessibility.

Numinus Wellness Inc. (TSX: NUMI) (OTCQX: NUMIF) will participate in Maxim Group's 2022 Virtual Growth Conference from March 28-30, 2022. A presentation by Founder and CEO Payton Nyquvest will be available on-demand starting March 28 at 9:00 a.m. ET. Interested participants can register here. Numinus focuses on innovative mental health care and evidence-based psychedelic therapies aimed at addressing conditions like depression and anxiety.

Numinus Wellness Inc. (TSX: NUMI, OTCQX: NUMIF) has received approval from the Public Health Agency of Canada for a Containment Level 2 license at its Numinus Bioscience lab. This enhancement enables advanced research on natural psychedelics, focusing on studies involving Psilocybe mushrooms and their effects on the human body. The license will facilitate tests that support innovative intellectual property development and revenue generation through contract research services. The company aims to advance its psychedelic research initiatives and enhance the accessibility of psychedelic-assisted therapies.

Numinus Wellness Inc. (TSX: NUMI) (OTCQX: NUMIF) has received approval from Health Canada to expand its research license, allowing the study of Ayahuasca and San Pedro at its Numinus Bioscience facility. This expansion positions Numinus as a key player in psychedelic research, complementing ongoing studies on Psilocybe species. The renewed license permits work with several botanical materials essential for Ayahuasca, including Banisteriopsis caapi and Psychotria viridis. Numinus aims to deepen the scientific understanding of these compounds' therapeutic applications.

On February 28, 2022, Numinus Wellness announced the results from its Annual General and Special Meeting of Shareholders, with 12.73% of common shares represented. Five directors were elected, including Payton Nyquvest and Edwin Garner, with approval rates ranging from 74.27% to 96.65%. Shareholders also approved resolutions regarding the number of directors, the appointment of auditors Davidson & Company LLP, and the Omnibus Equity Incentive Plan. For further details, the Management Information Circular is available on SEDAR.