Novamind Partner to Acquire Specialized Ibogaine Group in Brazil

Rhea-AI Summary

Novamind Inc. (CSE:NM)(OTCQB:NVMDF) announced that its partner, Bienstar Wellness Corp., signed a letter of intent to acquire BRC Saude Mental E Terapias Assistidas Ltda., a leader in ibogaine treatments for substance use disorder in Brazil. This strategic move aims to establish LATAM's first network of integrative mental health clinics specializing in psychedelic medicine. The acquisition will provide Bienstar access to a large patient base in Brazil, the largest market in Latin America, with a population of 215 million.

Positive

• Strategic acquisition to tap into Brazil's large mental health market with 215 million people.
• Bienstar's partnership enhances Novamind's position in psychedelic medicine in LATAM.
• Dr. Bruno Rasmussen's expertise in psychedelic medicine strengthens operational capabilities.

Negative

• None.

Bienstar Plans To Build LATAM's First Network of Integrative Mental Health Clinics

TORONTO, ON / ACCESSWIRE / March 31, 2022 / Novamind Inc. (CSE:NM)(OTCQB:NVMDF)(FSE:HN2) ("Novamind" or the "Company"), a leading mental health company specialized in psychedelic medicine, is pleased to report that its strategic partner, Bienstar Wellness Corp. ("Bienstar"), has signed a letter of intent to acquire BRC Saude Mental E Terapias Assistidas Ltda., a leader in specialized ibogaine treatments for substance use disorder based in Sao Paolo, Brazil (the "Ibogaine Group").

In December 2021, Novamind announced a strategic investment and advisory agreement with Bienstar. The partnership draws on Novamind's expertise delivering psychedelic-assisted psychotherapy and its successful and replicable model for clinics and clinical research sites in the United States.

The Ibogaine Group is led by Dr. Bruno Rasmussen, Bienstar's Chief Medical Officer, a medical doctor and MAPS-trained therapist with over 27 years of experience. Dr. Rasmussen is a pioneer and one of the leading names in psychedelic medicine in Brazil where ketamine and ibogaine are legal for medical use in psychotherapies. Upon signing a definitive agreement, Bienstar will have access to a broad patient base in Brazil-the largest market in Latin America with 215 million people.

Yaron Conforti, CEO and Director, Novamind, commented: "Bienstar is quickly developing Latin America's first network of mental health clinics specialized in psychedelic medicine. We are pleased to contribute our clinical expertise and renowned therapy protocols to help achieve this vision."

About Novamind
Novamind is a leading mental health company enabling safe access to psychedelic medicine through a network of clinics and clinical research sites. Novamind provides ketamine-assisted psychotherapy and other novel treatments through its network of integrative mental health clinics and operates a full-service contract research organization specialized in clinical trials and evidence-based research for psychedelic medicine. For more information on how Novamind is enhancing mental wellness and guiding people through their entire healing journey, visit novamind.ca.

Contact Information:
Novamind
Yaron Conforti, CEO and Director
Telephone: +1 (647) 953 9512

Samantha DeLenardo, VP, Communications
Email: media@novamind.ca

Investor Relations
Email: IR@novamind.ca

Forward-Looking Statements
This news release contains forward-looking statements. All statements other than statements of historical fact included in this release are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's expectations including the risks detailed from time to time in the Company's public disclosure. The reader is cautioned not to place undue reliance on any forward-looking information. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release and the Company will update or revise publicly any of the included forward-looking statements as expressly required by applicable laws.

SOURCE: Novamind Inc.

View source version on accesswire.com:
https://www.accesswire.com/695412/Novamind-Partner-to-Acquire-Specialized-Ibogaine-Group-in-Brazil

FAQ

What is the significance of Novamind's acquisition of BRC Saude Mental E Terapias Assistidas Ltda.?

The acquisition is significant as it establishes Latin America's first network of integrative mental health clinics specializing in psychedelic medicine, addressing the growing demand for mental health treatments in Brazil.

How does the partnership with Bienstar benefit Novamind (NVMDF)?

The partnership allows Novamind to leverage its expertise in psychedelic therapy and access a large patient base in Brazil, potentially increasing its market share and revenue in the region.

When was the letter of intent for the acquisition signed?

The letter of intent was signed on March 31, 2022.

Who leads the Ibogaine Group that Bienstar is acquiring?

The Ibogaine Group is led by Dr. Bruno Rasmussen, Bienstar's Chief Medical Officer, who has over 27 years of experience in the field of psychedelic medicine.