Optimi Health Applauds Health Canada’s Position on Drug Quality and Goods and Manufacturing Practices (GMP) for Psilocybin

“Sets the right tone, right standard, and right policy”: Optimi Health CEO, Bill Ciprick

VANCOUVER, British Columbia, May 09, 2022 (GLOBE NEWSWIRE) — Optimi Health Corp. (CSE: OPTI) (OTCQX: OPTHF) (FRA: 8BN) (“Optimi” or the “Company”) CEO, Bill Ciprick, issued a statement today in response to Health Canada’s May 6 Notice to Stakeholders “regarding the proposed use of psilocybin mushrooms in clinical trials, or as a drug accessed through the Special Access Program (SAP).”

Ciprick says the Notice published by Health Canada’s Office of Legislative and Regulatory Affairs Controlled Substances Directorate was welcomed by Optimi, specifically around the “importance of drug quality and Good Manufacturing Practices (GMP).”

As a tier one ingredient provider and product leader, Optimi’s operational footprint includes 20,000 square feet of state-of-the-art, technologically advanced aeroponics facilities dedicated to the cultivation of EU-GMP grade psilocybin and functional mushrooms.

While the Company is uniquely positioned to be a world leader in the cultivation and supply of natural, scalable, and accessible psilocybin, Ciprick believes Health Canada’s message is one that benefits every industry supplier.

“Health Canada’s message sets the right tone, right standard, and right policy when it comes to building a sustainable industry backed by hard, evidence-based, science-driven clinical research that is paramount to the health and wellbeing of Canadians,” said Ciprick.

He added:

“Over the last year, Optimi has embarked on a transformational journey that has seen our company become a world leader in the supply of natural, EU-GMP grade psilocybin and functional mushrooms. Every member of our team shares our commitment to making possible a future whereby natural psychedelic alternatives aid in the treatment of a wide variety of addictions and mental health conditions.

From Optimi’s founders to the hardworking employees cultivating our supply, we have always believed that the surest path to a regulated safe supply of medical psilocybin in Canada lies in the standards of a fully licensed, GMP facility.

For these reasons, Optimi applauds and endorses Health Canada’s announcement and will continue to invest in the future of natural psychedelic alternatives and solutions that pioneer the future of addictions and mental health.”

Last week, the Company announced that a requested Amendment to its Controlled Substances Dealer’s Licence had been granted by Health Canada, permitting it to possess a quota of up to 5,000kg of dried psilocybin mushrooms – the equivalent of 10kg of psilocybin – and 100g of psilocin.

On May 27, the Company will be welcoming guests and dignitaries from the psychedelic business space, the medical and public health fields, local and national politics, and the Indigenous community for a grand opening event and reception to inaugurate its Princeton, BC facility.

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

Optimi Health is a homegrown, Canadian success story producing and supplying natural, EU-GMP grade psilocybin and functional mushrooms that focus on the health and wellness markets. Built with the purpose to produce scalable, natural mushroom formulations for transformational human experiences, the Company’s goal is to be the number one trusted, compassionate supplier of safe, natural GMP grade psilocybin across the world. 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.

FOR INTERVIEW REQUESTS OR FURTHER INFORMATION PLEASE CONTACT:

Investor Relations
Email: investors@optimihealth.ca
Phone: +1 (902) 880 6121
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.

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/d2643a92-d2de-4f29-af67-29660a7dddee