Optimi Health and Sunshine Earth Labs Ltd. Forge Strategic Supply Agreement
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VANCOUVER, British Columbia, Dec. 07, 2023 (GLOBE NEWSWIRE) -- Optimi Health Corp. (CSE: OPTI) (OTCQX: OPTHF) (FRA: 8BN) (“Optimi”), a licensed Canadian drug researcher and formulator specializing in controlled psychedelic substances such as natural psilocybin and MDMA, today announced the signing of a supply agreement with Sunshine Earth Labs Ltd. (“Sunshine Labs”), a fellow British Columbia-based biosciences company licensed by Health Canada.
This strategic collaboration marks a significant milestone for both Optimi and Sunshine Labs, who share a commitment to ensuring a secure global supply of GMP quality-controlled substances for medicinal and research purposes. The partnership leverages the strengths of two reputable companies headquartered in British Columbia, Canada, reinforcing the region's standing as a hub for innovative advancements in the psychedelics industry.
Optimi CEO, Bill Ciprick, says the partnership will forge a formidable alliance as both companies leverage their points of access in the highly regulated psychedelics market. “Our alignment with Sunshine Labs opens opportunities to harness our collective contacts and connections, addressing the global demand for GMP drug substances for research purposes on a meaningful scale,” added Ciprick.
Donovan Edwards, CEO of Sunshine Labs, echoes the sentiment, saying, "Our partnership with Optimi solidifies our commitment to delivering a safe and secure supply of controlled substances globally. Together, we are poised to create a robust pipeline for delivering high-quality psychedelics to the current accessible international market, setting new standards for innovation and reliability.”
Sunshine Labs is committed to saving lives and uplifting communities impacted by the toxic drug epidemic. With its unique licensing advantage under Health Canada’s Controlled Drugs and Substances Act (CDSA), Sunshine Labs is dedicated to sourcing and delivering the highest quality of psychedelic medication for addiction treatment on a global scale, an endeavour strongly supported by Optimi.
”The solution to this crisis is one that we must create together,” added Edwards.
The supply agreement outlines Optimi's commitment to manufacturing and supplying Sunshine Labs with Full Spectrum Active Pharmaceutical Ingredient (API) and encapsulated psilocybin product, and encapsulated MDMA from Optimi's 10,000 sq ft, state-of-the-art facility in Princeton, British Columbia. The purchase quantity under this agreement will be determined on a case-by-case basis to meet the evolving needs of the market.
Both companies are committed to the highest standard of GMP drug production required by Health Canada under the CSDA and Part C, Division 2 of the Food and Drug Regulations.
Mr. Ciprick and Mr. Edwards will host a joint webinar on Tuesday, December 12 at 4:30pm EST to discuss the benefits of the supply agreement for both companies. For access, please follow this link.
For media inquiries, please contact Michael Kydd:
michaelk@optimihealth.ca
902.880.6121
For investor inquiries, please contact:
investors@optimihealth.ca
For Sunshine Earth Labs media inquiries, please contact:
press@sunshinelabs.life
250.900.3195
For Sunshine Earth Labs investor inquiries, please contact:
investor.relations@sunshinelabs.life
250.900.3195 ext 2
ABOUT OPTIMI: (CSE: OPTI) (OTCQX: OPTHF) (FRA: 8BN)
Optimi Health Corp. an end-to-end drug researcher and formulator licensed by Health Canada to produce and supply, for clinical research purposes, psychedelic substances such as 3,4-Methylenedioxymethamphetamine (“MDMA”), natural GMP-grade psilocybin, as well as functional mushrooms that focus on the health and wellness markets. Built with the purpose of producing scalable psychedelic formulations for transformational human experiences, the Company’s goal is to be the number one trusted, compassionate supplier of safe drug candidates throughout the world. Optimi’s products are grown and manufactured at its two facilities comprising a total of 20,000 square feet in Princeton, British Columbia.
ABOUT SUNSHINE EARTH LABS LTD:
Sunshine Labs researches and delivers formulations in a global market that is unmet and critical medical need. Based in Canada on the west coast of British Columbia, our facility and location were selected to allow the benefits of scalability. We are establishing international partnerships to provide Controlled Substances and Psychedelics under the guidelines of the CDSA. We advocate for the responsible use of these substances while championing wider availability for therapeutic and medicinal purposes. Sunshine Labs has a role to play by offering controlled substances to experts in this field including healthcare providers and harm reduction programs.
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.
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 9, 2023, and other continuous disclosure filings available under Optimi’s profile at www.sedarplus.ca. 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/67fd5330-02d3-40bb-af5b-938cb2c94f6d
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