Optimi Health Accelerates Psilocybin Clinical Trial Program with IMPACT

Commercialization of All-Natural Psychedelics Targeted Through Life Sciences Expertise

VANCOUVER, British Columbia, March 09, 2021 (GLOBE NEWSWIRE) — Optimi Health Corp. (CSE: OPTI) (“Optimi” or the “Company”), developers of a vertically integrated functional mushroom brand focused on the health and wellness sector, is pleased to announce a service agreement with the IMPACT Clinical Trial Accelerator Program housed within Alberta’s Life Sciences Innovation Hub at the University of Calgary.

Optimi instituted a program in 2020 to identify and engage with a suitable partner in its quest to become one of the first companies to utilize natural psilocybin mushrooms as a primary component for product formulization and requisite clinical trial efforts. Optimi’s overarching philosophy and commitment to the use of all-natural ingredients in its products is a key differentiator to those industry competitors who have committed to the production of laboratory produced synthetic psilocybin compounds.

Optimi’s JJ Wilson, (Board Chair), notes, “In order to use naturally harvested psilocybin mushrooms for a clinical trial, the psilocybin must first be grown in a GMP grade facility. For this reason, we are extremely excited regarding the long-term potential of our 20,000 sq. ft. purpose-built facilities in Princeton, BC. There is extensive historical information on naturally derived psilocybin formulas and its uses for a variety of healing purposes, yet right now there is a shortage of regulated GMP supply for natural psychedelic mushrooms. We hope to change this soon.”

The IMPACT program provides Optimi expert clinical support towards commercializing proposed psilocybin-based formulations through the conduct of clinical trials and expert assistance towards securing regulatory approval. The program works to design, support, execute, and report on the clinical trial process in conjunction with a Principal Investigator. IMPACT offers unparalleled access to research space (offices, wet and dry labs, prototype spaces), entrepreneurial and business development programming, mentorship, and connection to additional experts, facilities, and resources.

The Optimi team believes that the way forward for the treatment of various disorders such as anxiety, depression, PTSD, and even alcoholism appears promising for the use of proprietary novel formulations derived from natural psychedelic mushrooms. Optimi will provide pharmaceutical grade mushrooms cultivated and processed under controlled conditions to maintain consistent grade and potency. The Company is focused on becoming the natural alternative to synthetic alternatives and is positioning itself to become the premier cultivator of pharmaceutical-grade psilocybin mushrooms for clinical use.

Company CEO, Mike Stier adds, “Today’s announcement is indicative of how we plan to proceed. It builds on our recent news (March 2nd) regarding our R&D agreement with Numinus Wellness as part of an integrated plan to accelerate our value proposition. We aim to develop primarily natural formulations and superior processes with intrinsic value as intellectual property (IP), and we intend to achieve this by expanding our relationships with academic and industry participants including dedicated researchers, doctors, and business leaders across the nation and beyond. We are equally focused on ensuring we operate with good governance and top-level guidance within a solid leadership framework committed to generating value for our stakeholders and shareholders alike.”

On Behalf of the Board of Directors, Optimi Health Corp.
Mike Stier
President, Chief Executive Officer and Director

ABOUT OPTIMI (CSE: OPTI)

Optimi is developing a sophisticated mushroom brand that focuses on the health and wellness markets. With a vertically integrated approach, Optimi intends to cultivate, extract, process and distribute high quality functional mushroom products at its two facilities comprising a total of 20,000 square feet nearing completion in Princeton, British Columbia. To fully investigate the science of mushrooms, the Company has received a research exemption under Health Canada Food and Drug Regulations (FDR) for the use of Psilocybin and Psilocin for scientific purposes via its wholly owned subsidiary Optimi Labs Inc. Optimi has also applied for a dealer’s license under Canada’s Narcotic Control Regulations governing possession, distribution, sale, laboratory analysis of and research and development of Psilocybin and Psilocin formulations. Optimi is committed to expert cultivation and quality production subject to and in accordance with the terms of all applicable laws and governing regulations to ensure safe, superior Canadian fungi production.
Find out more at: https://optimihealth.ca/.

FOR FURTHER INFORMATION CONTACT:

Investor Relations
Email: investors@optimihealth.ca
Phone: +1 (778) 930-1321
Web: https://optimihealth.ca/

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 the dealer’s license application, activities proposed to be conducted under the Company’s research exemption and associated business related to Psilocybin and Psilocin 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 Final Prospectus dated February 12, 2021. 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.

The CSE does not accept responsibility for the adequacy or accuracy of this release.