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Numinus Wellness Inc. Strategic Move to Streamline Operations

Numinus Wellness Inc., a trailblazer in mental healthcare solutions focusing on psychedelic-assisted treatments, has recently made a significant decision to wind down certain non-operating subsidiaries. This move aims to simplify its corporate structure and sharpen its focus on core operational areas, thereby enhancing overall efficiency and financial sustainability.

The following subsidiaries will be affected by this decision, all going through bankruptcy:

• - Mindspace Services Inc. (Canada)
• - Neurology Centre of Toronto Inc. (Ontario)
• - Numinus Bioscience Inc. (British Columbia)
• - Salvation Bioscience Inc. (Canada)
• - Numinus Health Corp. (British Columbia)

According to the company's CEO, Michael Tan, this initiative is crucial for reallocating resources and directing attention towards the core activities of Numinus. The company is committed to continuing its operations in research and training, which are fundamental to its mission of advancing mental health solutions and psychedelic-assisted therapies.

The decision marks a pivotal step in Numinus's evolution as it seeks to concentrate its efforts on areas deemed most beneficial to its stakeholders. By effectively managing its resources, the company hopes to ensure a more sustainable business model that is capable of addressing growing demands in mental health treatment.

As part of this process, Numinus has engaged Dodick Landau Inc. to manage the bankruptcy proceedings of the affected subsidiaries. This ensures a structured approach to the wind-down process while fulfilling all obligations, including the completion of necessary filings with the Canada Revenue Agency (CRA).

Amidst this shift, Numinus remains focused on building a foundation for the integration of psychedelic-assisted therapies into mainstream clinical practices. The company's dedication to innovation in mental health care continues to position it at the forefront of transforming how conditions such as depression, anxiety, trauma, and substance use are treated.

In the coming days, Numinus plans to file a Material Change Report with the Toronto Stock Exchange (TSX) detailing this transition. The report will provide transparency to stakeholders regarding the company's future direction and operational adjustments.

Overall, Numinus Wellness Inc. is demonstrating a proactive approach to corporate management in a rapidly evolving industry, ensuring it can establish a more agile and focused company. With an emphasis on research, clinical trials, and comprehensive training for practitioners, Numinus aspires to lead a significant shift in mental health treatment methodologies.

As they navigate through these changes, it is clear that Numinus is committed to not just managing symptoms but achieving profound healing outcomes for those who seek their services.

For further information, stakeholders are encouraged to visit www.numinus.com or follow their updates on LinkedIn, Facebook, and Instagram.