Open For Business: Optimi Completes First Grow of Psilocybin Mushrooms and Introduces Head of Cultivation

Rhea-AI Summary

Optimi Health Corp. (OTCQX: OPTHF) announced a significant milestone with the successful completion of its first batch of psilocybin cubensis and functional mushrooms. Based in Vancouver, Canada, Optimi is focused on scalable mushroom cultivation aimed at addressing mental health issues. With enhancements from new genetics and a revised Health Canada Dealer’s Licence, the company plans to expand its domestic and international supply agreements. CEO Bill Ciprick emphasized the operational capacity achieved and the commitment to addressing mental health crises through its products.

Positive

• Successful completion of the first batch of psilocybin cubensis and functional mushrooms.
• Acquisition of new genetics and a revised Dealer's Licence positions the company for industry leadership.
• Plans for domestic and international supply agreements with drug development companies.

Negative

• None.

Company to focus on supply agreements and working directly with Canadians and physicians

VANCOUVER, British Columbia, May 25, 2022 (GLOBE NEWSWIRE) -- Optimi Health Corp. (CSE: OPTI) (OTCQX: OPTHF) (FRA: 8BN) (“Optimi” or the “Company”), a homegrown, Canadian company producing natural, scalable, and accessible mushroom formulations for transformational human experiences, is pleased to announce an historical milestone in the Company’s road to commercialization with the successful completion of its first batch of psilocybin cubensis and functional mushrooms.

With the vast availability of Optimi’s newly acquired genetics and recent amendment to its Health Canada’s Dealer’s Licence, Optimi is positioned to lead the industry in the scalable cultivation of mushrooms and is ready to deliver on the Company’s promise of building a future where natural psychedelic alternatives aid a wide variety of mental health conditions.

“It has been an amazing two-year journey getting to where we are today,” said Bill Ciprick, Optimi CEO. “Having now cultivated our first grow of psilocybin and functional mushrooms to a GMP standard, we are excited to be at full operational capacity and will proceed with domestic and international supply agreements with drug development companies and patients through the Special Access Program (SAP).”

Parties interested in purchasing Optimi psilocybin and functional products should send an email to sales@optimihealth.ca where a member of the sales team will respond within 24 hours.

Ciprick credits the Company’s success on the hard work of Optimi Chief Science Officer, Justin Kirkland, and new Head of Cultivation, Todd Henderson.

Henderson, an Alberta born Metis proud of his Cree heritage, started cultivating mushrooms in 1991 at the age of 15 after spending his summer on the Grouard Reserve near High Prairie Alberta. It was there that his father’s cousin Edgar instructed him in the medicine of mushrooms and helped him find clarity and wisdom from the Great Spirit, Kitchi Manitou.

“That summer, I was sent home with spore prints as a way to honour my ancestors and pass my knowledge on to a new generation – it is the way of our people,” said Henderson. “We are living in extraordinary times, and I believe the lessons of my father and Edgar serve a bigger purpose in helping all people heal from the mental health crisis we see today. I am grateful that Optimi has given me this opportunity to share my knowledge. I am Cree! Neya Nehiyaw,” concluded Henderson.

Henderson supervised the eight-week cultivation process at the Company’s 20,000 square foot, technologically scaled EU-GMP grow facilities in Princeton, British Columbia, and will be giving public tours of his work at Optimi’s Grand Opening celebration on May 27^th.

For those interested in attending the in-person event or via livestream should contact event organizer, Michael Kydd, at info@kyddergroup.com.

ABOUT OPTIMI (CSE: OPTI) (OTCQX: OPTHF) (FRA: 8BN)

Optimi Health is a homegrown, Canadian success story producing and supplying natural, EU-GMP grade psilocybin and functional mushrooms that focus on the health and wellness markets. Built with the purpose to produce scalable, natural mushroom formulations for transformational human experiences, the Company’s goal is to be the number one trusted, compassionate supplier of safe, natural GMP grade psilocybin across the world. With a vertically integrated approach, Optimi intends to cultivate, extract, process and distribute high quality functional and psychedelic mushroom products at its two facilities comprising a total of 20,000 square feet in Princeton, British Columbia.

To fully investigate the science of mushrooms, the Company has received a research exemption under Health Canada Food and Drug Regulations (FDR) for the use of Psilocybin and Psilocin for scientific purposes via its wholly owned subsidiary Optimi Labs Inc. Optimi has also been granted a dealer’s license under Canada’s Narcotic Control Regulations governing possession, distribution, sale, laboratory analysis of and research and development of Psilocybin and Psilocin formulations. Optimi is committed to expert cultivation and quality production subject to and in accordance with the terms of all applicable laws and governing regulations to ensure safe, superior Canadian fungi production.

FOR INTERVIEW REQUESTS OR FURTHER INFORMATION PLEASE CONTACT:

Investor Relations
Email: investors@optimihealth.ca
Phone: +1 (902) 880 6121
Web: https://optimihealth.ca

FORWARD‐LOOKING STATEMENTS

This news release contains forward‐looking statements and forward‐looking information within the meaning of Canadian securities legislation (collectively, “forward‐looking statements”) that relate to Optimi’s current expectations and views of future events. Any statements that express, or involve discussions as to, expectations, beliefs, plans, objectives, assumptions or future events or performance (often, but not always, through the use of words or phrases such as “will likely result,” “are expected to,” “expects,” “will continue,” “is anticipated,” “anticipates,” “believes,” “estimated,” “intends,” “plans,” “forecast,” “projection,” “strategy,” “objective,” and “outlook”) are not historical facts and may be forward‐looking statements and may involve estimates, assumptions and uncertainties which could cause actual results or outcomes to differ materially from those expressed in such forward‐looking statements. No assurance can be given that these expectations will prove to be correct and such forward‐looking statements included in this news release should not be unduly relied upon. These statements speak only as of the date of this news release. In particular and without limitation, this news release contains forward‐ looking statements pertaining to activities proposed to be conducted under the Company’s dealer’s license and associated business related to Psilocybin and Psilocin and Optimi’s plans, focus and objectives.

Forward‐looking statements are based on a number of assumptions and are subject to a number of risks and uncertainties, many of which are beyond Optimi’s control, which could cause actual results and events to differ materially from those that are disclosed in or implied by such forward‐looking statements. Such risks and uncertainties include, but are not limited to, the impact and progression of the COVID‐19 pandemic and other factors set forth under “Forward‐Looking Statements” and “Risk Factors” in the Company’s Annual information Form dated January 12, 2022, and other continuous disclosure filings available under Optimi’s profile at www.sedar.com. Optimi undertakes no obligation to update or revise any forward‐looking statements, whether as a result of new information, future events or otherwise, except as may be required by law. New factors emerge from time to time, and it is not possible for Optimi to predict all of them or assess the impact of each such factor or the extent to which any factor, or combination of factors, may cause results to differ materially from those contained in any forward‐looking statement.

Any forward‐looking statements contained in this news release are expressly qualified in their entirety by this cautionary statement.

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/769d50ff-73dc-4db0-8143-4b8bb35629ca

A video accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/e459a062-5adc-470e-8423-ab19f47d43c4

FAQ

What milestone did Optimi Health achieve with stock symbol OPTHF?

Optimi Health successfully completed its first batch of psilocybin cubensis and functional mushrooms.

How does Optimi Health plan to expand its business?

Optimi Health intends to pursue domestic and international supply agreements with drug development companies.

What new developments have contributed to Optimi Health's growth?

The company benefitted from newly acquired genetics and an amendment to its Health Canada Dealer's Licence.

What is Optimi Health's focus in the market?

Optimi Health focuses on producing scalable mushroom formulations for mental health improvements.