Optimi Health Clears Final Base Shelf Prospectus

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

VANCOUVER, British Columbia, Aug. 18, 2021 (GLOBE NEWSWIRE) — Optimi Health Corp. (CSE: OPTI) (OTC: OPTHF) (FRA: 8BN) (“Optimi” or the “Company”), developers of a vertically integrated functional mushroom brand focused on the health and wellness sector, is pleased to announce that it has filed and received a final receipt for a short form base shelf prospectus (the “Final Shelf Prospectus“) with the securities commissions in each of the provinces and territories of Canada, except Québec.

The Final Shelf Prospectus allows the Company to offer and issue up to $100,000,000 of common shares, warrants, subscription receipts, units, or any combination of such securities (collectively, the “Securities“) during the 25-month period that the Final Shelf Prospectus is effective. The Securities may be offered separately or together, in amounts, at prices and on terms to be determined based on market conditions at the time of sale, which will be set forth in any one or more prospectus supplement(s) filed in connection with any such distribution(s).

Optimi CEO, Mike Stier, stated, “while the Company has no immediate intention to undertake an offering, this Final Shelf Prospectus allows the Company to maintain financial flexibility as we advance our business objectives and goals.”

The Securities have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This news release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the Securities in any State or jurisdiction in which such offer, solicitation or sale would be unlawful.

A copy of the Final Shelf Prospectus is available under the Company’s profile on SEDAR (www.sedar.com).

On Behalf of the Board of Directors
Optimi Health Corp.

Mike Stier
President, Chief Executive Officer and Director

ABOUT OPTIMI (CSE: OPTI) (OTC: OPTHF) (FRA: 8BN)

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, including regarding the development of the Company’s business, potential distributions pursuant to the Final Shelf Prospectus and the filing of one or more prospectus supplements. These forward-looking statements are provided as of the date of this news release, and reflect predictions, expectations or beliefs regarding future events based information currently available to the Company. In making the forward-looking statements included in this news release, the Company has applied several material assumptions, including, but not limited to, the assumption that required approvals of any distribution proposed under the Final Shelf Prospectus and any supplement thereto will be obtained in a timely manner; that general economic and business conditions will not change in a materially adverse manner; and that the Company will be able to raise funds on reasonable terms. Although management considers these assumptions to be reasonable based on information available to them, they may prove to be incorrect. By their very nature, forward-looking statements involve inherent risks and uncertainties, both general and specific, and risks exist that estimates, forecasts, projections and other forward-looking statements will not be achieved or that assumptions on which they are based do not reflect future experience. We caution readers not to place undue reliance on these forward-looking statements as a number of important factors could cause the actual outcomes to differ materially from the expectations expressed in them. These risk factors may be generally stated as the risk that the assumptions and estimates expressed above do not occur, but specifically include, without limitation, risks relating to: general market conditions; the Company’s ability to secure financing, on favourable terms, pursuant to the Final Shelf Prospectus and any prospectus supplements; and the additional risks described in the Final Shelf Prospectus and the Company’s Annual Information Form, and other disclosure documents filed by the Company on SEDAR. The foregoing list of factors that may affect future results is not exhaustive. When relying on our forward-looking statements, investors and others should carefully consider the foregoing factors and other uncertainties and potential events. The Company does not undertake to update any forward-looking statement, whether written or oral, that may be made from time to time by the Company or on behalf of the Company, except as required by law.

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