Optimi Health Resolves Dispute

Rhea-AI Summary

Optimi Health Corp. (CSE: OPTI) (OTCQX: OPTHF) (FRA: 8BN) announces the successful resolution of a dispute related to a supply agreement, emphasizing commitment to positive relationships and business integrity in the psychedelics sector.

Positive

• Successful resolution of the dispute enhances Optimi's reputation and maintains positive relationships with partners.
• Commitment to delivering high-quality drug candidates and services in the psychedelics sector signals potential for future growth.

Negative

• None.

VANCOUVER, British Columbia, Nov. 10, 2023 (GLOBE NEWSWIRE) -- Optimi Health Corp. (CSE: OPTI) (OTCQX: OPTHF) (FRA: 8BN) ("Optimi" or the "Company") is pleased to announce the successful resolution of a dispute that arose in connection with a termination notice related to a supply agreement ("the Supply Agreement") signed with a private entity on May 4, 2023.

Optimi is pleased to confirm that the dispute has been amicably resolved and the Supply Agreement has been terminated through a negotiated settlement.

This resolution underscores Optimi's commitment to maintaining positive relationships with its partners while upholding its business integrity. The Company remains dedicated to delivering on its mission of providing high-quality drug candidates and services in the psychedelics sector.

For more information, please contact Michael Kydd at:

investors@optimihealth.ca 
902.880.6121
www.optimihealth.ca 

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 products 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.

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.

FAQ

What is the ticker symbol for Optimi Health Corp.?

The ticker symbols for Optimi Health Corp. are CSE: OPTI, OTCQX: OPTHF, and FRA: 8BN.

What was the dispute related to?

The dispute arose in connection with a termination notice related to a supply agreement signed with a private entity on May 4, 2023.

How was the dispute resolved?

The dispute was amicably resolved through a negotiated settlement, resulting in the termination of the Supply Agreement.

What is Optimi's commitment following the resolution?

Optimi remains dedicated to delivering high-quality drug candidates and services in the psychedelics sector, emphasizing its business integrity and positive relationships with partners.