VANCOUVER, BC, April 13, 2023 /CNW/ - Numinus Wellness Inc. ("Numinus" or the "Company") (TSX: NUMI) (OTCQX: NUMIF), a mental health care company advancing innovative treatments and safe, evidence-based psychedelic-assisted therapies, today announced its financial results for the three and six months ended February 28, 2023 ("Q2 2023" and "first six months").
All financial results are reported in Canadian dollars unless otherwise stated.
"We are excited about our recently announced training and licensing growth initiatives, which position Numinus as a clear leader in delivering and supporting psychedelic-assisted therapies – and contribute to much needed clinical infrastructure for a sector that is on the verge of significant expansion. As we believe that access to these therapies is pending with regulatory reform, the development of clinical protocols, practitioner training, and insurance payor expertise is becoming increasingly important. Given our expansive and growing capabilities, we are one of the best positioned companies to lead the next stage of psychedelic-assisted therapies by providing the necessary infrastructure to deliver these innovative treatments. With new opportunities in sight, we are investing in our digital and licensing platforms to allow us to further scale our business, while reducing the capital investments traditionally needed with clinic expansion."
Commenting on industry dynamics, Mr. Nyquvest added:
"Our measured, capital-light approach to growth and diversified service offering continues to elevate Numinus as an industry leader within the changing sector landscape. With clinics that offer an assortment of mental health services, a growing CRO research business that continues to build trusted relationships with drug developers, and an expanded training program to help build the practitioner workforce for the future – Numinus is in a unique position to benefit from reduced competition."
Numinus Wellness Clinic Network
Numinus Clinical Research
Numinus' condensed consolidated financial statements for the three and six months ended February 28, 2023 and related management's discussion and analysis are available on Numinus' Investor Relations website at www.investors.numinus.com and under the Company's profile on SEDAR at www.sedar.com. These documents were prepared in accordance with IFRS.
Interested parties are invited to participate in the Company's Q2 2023 results conference call and webcast occurring today, at 5:30 p.m. Eastern time / 2:30 p.m. Pacific time. During the call, Numinus executives will review the Company's performance and recent initiatives, and answer questions from analysts.
To listen to the live webcast, please register at: https://events.q4inc.com/attendee/711589893
The webcast will also be archived on the Events and Presentations page of Numinus' Investor Relations website: https://www.investors.numinus.com/events-and-presentations
To participate in the live conference call, please use the following dial-in information:
A replay of the conference call can also be accessed after 8:30 p.m. Eastern time / 5:30 p.m. Pacific time on April 13, 2023, at 1-800-770-2030 or 1-647-362-9199 (using passcode 3547386). The replay will be available until April 27, 2023.
Numinus Wellness (TSX: NUMI) helps people to heal and be well through the development and delivery of innovative mental health care and access to safe, evidence-based psychedelic-assisted therapies. The Numinus model - including psychedelic production, research and clinic care - is at the forefront of a transformation aimed at healing rather than managing symptoms for depression, anxiety, trauma, pain and substance use. At Numinus, we are leading the integration of psychedelic-assisted therapies into mainstream clinical practice and building the foundation for a healthier society.
Neither Numinus Wellness Inc., nor any of its subsidiaries is a professional corporation licensed to practice health services. In jurisdictions where health services may only be provided by a corporation if that corporation holds a valid permit to do so, Numinus and its subsidiaries operate in a management services function to affiliated professional corporations, who provide health services to patients. Numinus and its subsidiaries do provide health services directly to patients in those jurisdictions where authorized to do so.
This press release contains forward-looking statements within the meaning of applicable securities laws. All statements that are not historical facts, including without limitation, statements regarding future estimates, plans, programs, forecasts, projections, objectives, assumptions, expectations or beliefs regarding future performance are "forward-looking statements". Forward-looking statements can be identified by the use of words such as "expects", "does not expect", "is expected", "believes", "intends", "anticipates", "does not anticipate", "believes" or variations of these words, expressions or statements, that certain actions, events or results "may", "could", "would", "might" or "will be" taken, will occur or will be realized. Such forward-looking statements involve risks, uncertainties and other known and unknown factors that could cause actual results, events or developments to differ materially from the results, events or developments expected and expressed or implied in such forward-looking statements. These risks and uncertainties include, but are not limited to, interest in, uptake of and the ability to commercialize the Numinus Network program, interest in and uptake of the Healing CREI offering from Numinus Network members, availability of suitable locations or licensees for the Numinus Network offering, interest in, uptake of and the ability to commercialize the practitioner training service offering, our ability to recruit dedicated practitioners in Canada, our ability to develop, launch, commercialize and/or maintain the digital tools and service offering, dependence on obtaining and maintaining regulatory approvals, including the acquisition and renewal of federal, provincial, municipal, local or other licenses, and any inability to obtain all necessary government authorizations, licenses and permits to operate and expand the Company's facilities; regulatory or policy changes such as changes in applicable laws and regulations, including federal, state and provincial legalization, if any, due to fluctuations in public opinion, industry perception of integrative mental health, including the use of psychedelic-assisted therapy, delays or inefficiencies or any other reason; any other factor or development likely to hamper the growth of the market; the Company's limited operating and profitability track record; dependence on management; the Company's need for additional financing and the effects of financial market conditions and other factors on the availability of capital; competition, including that of more established and better funded competitors; the impact of the Russia-Ukraine conflict on the global economy; the continued impact of the COVID-19 pandemic; and the need to build and maintain alliances and partnerships, including with research and development companies, customers and suppliers and other risk factors set forth in our annual information form dated December 12, 2022 and available on SEDAR at www.sedar.com. These factors should be carefully considered, and readers are cautioned not to place undue reliance on forward-looking statements. Despite the Company's efforts to identify the main risk factors that could cause actual measures, events or results to differ materially from those described in forward-looking statements, other risk factors may cause measures, events or developments to materially differ from those anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in forward-looking statements. The Company does not undertake to revise forward-looking statements, even if new information becomes available as a result of future events, new facts or any other reason, except as required by applicable laws.
SOURCE Numinus Wellness Inc.
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