Optimi Health Achieves Genetics Milestone and Completes Psilocybin Extract Validation and Stability Testing

VANCOUVER, British Columbia, Nov. 28, 2023 (GLOBE NEWSWIRE) — Optimi Health Corp. (CSE: OPTI) (OTCQX: OPTHF) (FRA: 8BN), a leading end-to-end drug researcher and formulator licensed by Health Canada, has reached a significant milestone in its mission. The company is proud to announce the successful harvest of eight new natural Psilocybin genetics, strengthening its position as a pioneering force in the psychedelic research and formulation space.

Demonstrating its commitment to innovation and research, Optimi has cultivated these new Psilocybin-containing mushroom strains with the aim that they will play a pivotal role in the development of psilocybin extracts and novel drug candidates.

Optimi also announces the advancement of its full spectrum, GMP extract quality program. The Company has successfully completed process validation for the natural psilocybin drug candidate, and the stability testing according to ICH guidelines is ongoing. With over three months of accelerated data, Optimi can confirm the product is able to maintain potency and other quality attributes for the duration of clinical trials.

CEO William (Bill) Ciprick stated, “Our production of a scalable GMP compliant extract is a crucial step towards facilitating further research and maintaining our position as a reliable and innovative partner in the development of psilocybin-based therapies.”

While Optimi continues to develop its product offerings, it remains focused on fulfilling supply orders, conducting tests, and analyzing the recent milestone harvest. The company is pleased to announce the availability of GMP Psilocybin API for encapsulation into standardized dosages or for sale to other groups as a raw material for their formulations. This marks a significant step in expanding the company’s reach and impact within the psychedelic research community.

Dane Stevens, co-founder, and director, envisions Optimi’s role as a key contributor to this evolving landscape:

“Optimi continues to focus its research and development efforts on expanding its knowledge base and product offerings, with the aim of playing an integral role in the global psilocybin market. We are well-positioned to be a trusted partner for drug developers and advanced research programs around the world.”

The new genetic strains were cultivated by Optimi’s Cultivation Manager, Scott Marshall, who oversees the company’s large-scale operations, genetic advancement, and the stabilization of both novel and existing varieties of Psilocybe cubensis with remarkable proficiency.

Pictures of Optimi’s newest genetics strains can be found here.

**All photos provided by Optimi are subject to copyright protection. Reproduction or use for commercial purposes without explicit permission from Optimi is prohibited. Users are encouraged to contact Optimi for licensing inquiries and permissions regarding photo reproduction.**

For media inquiries, please contact Michael Kydd at:
pr@optimihealth.ca
902.880.6121

For investor inquiries, please contact us at:
investors@optimihealth.ca

www.optimihealth.ca

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

Optimi Health Corp. an end-to-end drug researcher and formulator licensed by Health Canada to produce and supply, for clinical research purposes, psychedelic substances such as 3,4-Methylenedioxymethamphetamine (“MDMA”), natural GMP-grade psilocybin, as well as functional mushrooms that focus on the health and wellness markets. Built with the purpose of producing scalable psychedelic formulations for transformational human experiences, the Company’s goal is to be the number one trusted, compassionate supplier of safe drug candidates throughout the world. Optimi’s products are grown and manufactured at its two facilities comprising a total of 20,000 square feet in Princeton, British Columbia.

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.

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 9, 2023, and other continuous disclosure filings available under Optimi’s profile at www.sedarplus.ca. 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/468d87de-392b-45f9-ae33-c3fb64a43e48