#Canada #Vancouver #mental health #Cannabis #Numinus Wellness

Numinus Wellness Releases Update on Annual Filings

Numinus Wellness Inc., a prominent player in the field of mental health care, has recently shared important information regarding its annual filings. The company, which focuses on innovative and evidence-based treatments, has been subject to a management cease trade order (MCTO) due to delays with its annual financial statements for the fiscal year ending August 31, 2024.

What is the MCTO?

The MCTO was granted by the British Columbia Securities Commission on December 2, 2024. This temporary order prohibits the Chief Executive Officer and Chief Financial Officer from trading company securities until the annual filings are submitted and the MCTO is lifted. Importantly, this order does not affect existing shareholders' trading abilities.

Current Status of Annual Filings

Numinus is actively working with its accounting team to finalize the annual filings. The company anticipates that all necessary documentation, including the audited financial statements, management discussions and analysis, and the annual information form, will be ready by January 28, 2025. Delays were attributed to unexpected challenges, which the management team is addressing.

Commitment to Transparency

During this interim period, Numinus is committed to transparency. They will adhere to the alternative information guidelines specified under National Policy 12-203, which includes regular bi-weekly updates through news releases. The company emphasizes that it has met its obligations regarding these guidelines thus far, ensuring that shareholders and the public remain informed.

Ongoing Operations and Future Plans

While the MCTO restricts certain trading activities, Numinus continues to operate normally regarding its core business. The company has suspended share buy-back activities and will not issue or acquire securities from insiders or employees during this time. Nonetheless, their focus remains on developing mental health solutions, including psychedelic-assisted treatments that are at the forefront of mental health care innovation.

Conclusion

Numinus Wellness is dedicated to navigating through this regulatory process efficiently. Their leadership team is optimistic about the completion of the required filings in the near future. As they work to finalize their annual reports, the company remains a vital force in the transformation of mental health treatments, emphasizing healing over mere symptom management.

For more information about Numinus Wellness and updates on their annual filings, visit their official website or follow them on social media platforms.