Optimi Health Announces Canadian Retail and E-Commerce Distribution Agreements for Functional Mushroom Supplements and Appoints Chief Financial Officer to its Board of Directors

Rhea-AI Summary

Optimi Health Corp. announced three new distribution agreements for its Optimi Life nutraceutical mushroom products with Well.ca, Vitasave, and Healthy Planet. These deals enhance the company's B2B distribution network and are expected to facilitate its expansion into international markets. The agreements come shortly after the successful February launch of Optimi Life, which aims to meet the growing consumer demand for high-quality mushroom products. CEO Bill Ciprick highlighted the anticipated growth in the functional mushroom market, projected to expand by 9.5% annually over the next six years.

Positive

• New distribution agreements with Well.ca, Vitasave, and Healthy Planet enhance B2B network.
• Positioning for international market expansion.
• CEO anticipates growth in the functional mushroom market at 9.5% annually.

Negative

• None.

Deals position Optimi Life nutraceutical brand for international distribution

VANCOUVER, British Columbia, Aug. 25, 2022 (GLOBE NEWSWIRE) -- Optimi Health Corp. (CSE: OPTI) (OTCQX: OPTHF) (FRA: 8BN) (“Optimi” or the “Company”), a Canadian-based company licensed by Health Canada to produce natural, scalable, and accessible psychedelic and functional mushrooms for transformational human experiences, is pleased to announce that it has finalized three new Canadian retail and e-commerce distribution agreements for its Optimi Life nutraceutical mushroom products.

The agreements with Well.ca, Vitasave, and Healthy Planet come within six months of the Company’s February launch of Optimi Life (www.optimilife.com), a line of functional mushroom supplements transforming the industry with formulations made from the highest possible quality fruiting body mushrooms for whole body and mind optimization.

Well.ca: Well.ca is a premier natural foods e-commerce platform offering Optimi’s complete line-up of functional supplements to Canadians across the country.

Vitasave: Based in Vancouver, Vitasave was the first retailer to bring Optimi into their assortment. With two retail outlets and an e-commerce platform, consumers both in the Greater Vancouver Area and across the country have access to Optimi products along with other supplements in one location.

Healthy Planet: Healthy Planet has agreed to introduce Optimi’s full line of mushroom supplements to their web-based selling platform and we look forward to proving our worth and moving into their 30+ retail locations across Ontario.

Optimi’s CEO, Bill Ciprick, says the agreements strengthen the Company’s B2B distribution network and positions the Optimi Life brand for expansion into international markets.

“Our goal is to meet growing consumer demand for quality whole mushroom products, and that begins with expanding Optimi’s national distribution infrastructure,” added Ciprick. “With the global functional mushroom market estimated to grow 9.5 per cent annually over the next six years, we’ll be actively positioning the Optimi Life brand throughout Canada as well as in international markets.”

Optimi Life General Manager, Darren Mahaffy, credits Optimi Life’s early distribution and revenue success to quality and marketability.

“A lot of work has gone into building the Optimi Life story,” said Mahaffy. “Today’s success is the first step in defining our position as a pure, quality producer of whole mushroom ingredients designed for the curious mind and evolving health-conscious consumer.”

Appointment of Director

Optimi is also pleased to announce the appointment of Mr. Jacob Safarik to the Board of Directors. Mr. Safarik is the Company’s Chief Financial Officer and was instrumental in the formation of Optimi in 2019. As a Chartered Professional Accountant, Mr. Safarik brings more than 13 years of international project finance, business development and quality assurance experience. Mr. Safarik is also a co-founder and Chief Financial Officer of BC Green Pharmaceuticals Inc.

“We are pleased to welcome Jacob to the Optimi Board,” said JJ Wilson, Co-Founder and Chairman of the Board. “Jacob’s deep experience in global finance, business development, and regulatory compliance are invaluable assets to Optimi as we grow our business and pursue our goal of being the number one trusted, compassionate supplier of safe, natural EU-GMP-grade psilocybin and synthetic psychedelics across the world.”

FOR INTERVIEW REQUESTS OR FURTHER INFORMATION PLEASE CONTACT:

Investor Relations
Michael Kydd
Email: investors@optimihealth.ca
Phone: +1 (902) 880 6121
Web: www.optimihealth.ca

ABOUT OPTIMI

Optimi Health Corp. is a Canadian-based company licensed by Health Canada to produce and supply natural, EU-GMP grade psilocybin and synthetic psychedelic substances, 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 products throughout the world. Optimi’s products are grown at its two facilities comprising a total of 20,000 square feet in Princeton, British Columbia, making it the largest psilocybin and MDMA cultivator in North America.

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 approved Health Canada dealer’s licence and associated business related to Psilocybin, Psilocin, other psychedelic substances, some being synthetically formulated, 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.

Photos accompanying this announcement are available at:
https://www.globenewswire.com/NewsRoom/AttachmentNg/db8ece49-d8f9-4ae0-b94a-b620d28f84f0
https://www.globenewswire.com/NewsRoom/AttachmentNg/c5ddcdcb-28fc-4d80-be67-56aa5ca3cd7c
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FAQ

What are the new distribution agreements announced by Optimi Health Corp.?

Optimi Health Corp. announced agreements with Well.ca, Vitasave, and Healthy Planet for its Optimi Life nutraceutical mushroom products.

How do the new agreements affect Optimi Health Corp.'s market position?

The agreements strengthen Optimi's distribution network and prepare the brand for potential international expansion.

What is the expected growth of the functional mushroom market?

The functional mushroom market is projected to grow by 9.5% annually over the next six years.

Who is the CEO of Optimi Health Corp. and what did he say about the new agreements?

Bill Ciprick is the CEO of Optimi Health Corp., and he stated that the agreements would meet growing consumer demand for quality whole mushroom products.