Optimi Health Begins Cultivation Of Natural Psilocybin For Use In Clinical Trials

VANCOUVER, British Columbia, March 18, 2022 (GLOBE NEWSWIRE) — Optimi Health Corp. (CSE: OPTI) (OTCQB: OPTHF) (FRA: 8BN) (“Optimi” or the “Company”), is pleased to announce that it has commenced the cultivation of natural GMP-grade psilocybin mushrooms at its Princeton, British Columbia facility.

“These mushrooms are an important milestone in Optimi’s commitment to establishing a supply of safe, natural psilocybin products for use by approved parties engaged in clinical trials,” said Optimi Health CEO Bill Ciprick. “Since the completion of our 20,000 square foot cultivation and processing facilities and the approval of our Controlled Drugs and Substances Dealers License by Health Canada, Optimi has pressed forward with the goal of generating revenue and demonstrating a system of safe supply that can scale with the needs of the sector while participating in research crucial to the advancement of psychedelic science.”

The initial batch of Optimi’s natural psilocybin mushrooms is intended specifically for analysis and use in human clinical trials where market demand for natural psilocybin is increasing.

Optimi is involved in a partnership with the IMPACT Clinical Trial Accelerator Program housed within Alberta’s Life Sciences Innovation Hub at the University of Calgary and has opted to assess its product prior to completion of the Company’s clinical trial application.

Optimi has received a Section 56 Exemption to the Controlled Drugs and Substances Act from Health Canada in order to carry out its own research at the premises of Calgary-based Bloom Psychedelic Therapy & Research Centre (“Bloom”), with a focus on determining a safe and effective standardized microdose of psilocybin for mental health conditions such as anxiety and depression.

Optimi Executive Chairman, JJ Wilson, adds that today’s announcement is a “momentum building” milestone that speaks to the Company’s goal of becoming a world supplier in the cultivation and formulation of natural psilocybin.

“The Optimi team is 100 per cent committed to helping the world deal with the concurrent crises of mental health and aging with safe, sustainable supplies of an organic product that has been used medicinally since time immemorial,” said Wilson. “We will share more about our mission and vision over the coming weeks and months; however, for now, we’ll go back to the lab where our goal is to produce the quality and scale needed to meet the global demand for natural psilocybin.”

Optimi plans to showcase its new GMP facility at a brand and media launch in May.

ABOUT OPTIMI (CSE: OPTI) (OTCQX: 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 and psychedelic mushroom products at its two facilities comprising a total of 20,000 square feet 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 been granted 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 INTERVIEW REQUESTS OR FURTHER INFORMATION SEE 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 activities proposed to be conducted under the Company’s dealer’s license 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 Annual information Form dated January 12, 2022, and other continuous disclosure filings available under Optimi’s profile at www.sedar.com. 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.