Numinus provides bi-weekly updates to Investing.com’s annual filings

VANCOUVER, BC, January 1, 2025 /PRNewswire/ – Numinus Wellness Inc. (TSX: NUMI) (OTCQX: NUMIF) (“Numinus” or “Company“), a leader in mental health care specializing in innovative evidence-based treatments, today released an update regarding its previously announced cease-and-desist order (“MCTO“) in connection with the submission of audited annual financial reports of the Company (“Audited financial statements“), management discussion and analysis (“MD&A“) and annual information form (“AIF“) for the completed financial year August 31, 2024 and the applicable CEO and CFO certifications (together with the audited financial statements, MD&A and AIF, “Annual applications“).

With the Company’s press release dated December 3, 2024 (“Announcement“), the main regulator of the Company, British Columbia Securities Commission (“Commission“), assigned by MCTO days December 2, 2024under National Policy 12-203 ” Management Cease Trader Orders (“NP 12-203“). Pursuant to the MCTO, the Company’s Chief Executive Officers and Chief Financial Officer may not trade in the Company’s securities until the Company files its annual returns and the Commission revokes the MCTO. During this period, the Company will cease all share repurchase activities pursuant to with its usual issuer bid price and has undertaken not to, directly or indirectly, issue or acquire securities from insiders or employees of the Company.

The MCTO does not affect the ability of shareholders to trade their securities.

The Company’s Board of Directors and management continue to work with their accounting team to prepare the annual returns as soon as possible. The delay in submitting annual returns is the result of unexpected delays experienced by the Company. The Company reasonably expects that the annual report will be finalized by January 28, 2025.

The company will issue a press release announcing the completion of the submission of annual reports when they are completed and archived. Until the Company files annual returns, it will comply with the alternative information guidelines set forth in NP 12-203, including issuing biweekly default status reports via press release, which will be filed on SEDAR+.

Furthermore, the Company confirms that as of the date of the Announcement: (i) there has been no failure by the Company to fulfill its stated intentions with regard to meeting the provisions of the alternative information guidelines set forth in NP 12-203; (ii) there has been no other specified default by the Company pursuant to NP 12-203; (iii) the Company is not subject to bankruptcy proceedings; and (iv) there is no other material information concerning the affairs of the Company that is not generally disclosed.

About Numinus

Numinus Wellness Inc. (TSX: NUMI) helps people get well and healthy by developing and delivering innovative mental health care and access to safe, evidence-based psychedelic-assisted therapies. Numinus’ model “incorporating psychedelic research and clinical care” is at the forefront of transformation focused on the treatment rather than the management of symptoms of depression, anxiety, trauma, pain and substance use. At Numinus, we are leading the integration of psychedelic-assisted therapies into mainstream clinical practice and building the foundations for a healthier society. Learn more at www.numinus.com and follow us LinkedInFacebook (NASDAQ: ) and Instagram.

Forward-looking statements

Statements and other information contained in this press release about expected future events constitute forward-looking statements. Forward-looking statements are often, but not always, identified by the use of words such as “seek”, “anticipate”, “believe”, “plan”, “estimate”, “expect” and “intend” and statements that the event “may”, “will”, “should”, “can” or “might” happen or other similar expressions. In particular, and without limitation, this press release contains forward-looking statements consistent with the Company’s reasonable expectation that the annual filings will be completed by January 28, 2025 and the Company’s compliance with MCTO and NP 12-203. Forward-looking statements are subject to risks and uncertainties and other factors that could cause actual results to differ materially from those contained in the forward-looking statements, including the results of further MDMA research, if any, decisions by the FDA and other regulators in with respect to MDMA and other psychedelic drugs, restrictions that regulatory authorities may place on the use of psychedelic compounds; safety and efficacy of psychedelic-assisted therapy; acceptance, acceptance and commercialization of psychedelic assisted therapy, if any; dependence on obtaining regulatory approvals and other risks that are listed in our annual information form from November 29, 2023and available on SEDAR at www.sedarplus.ca. Forward-looking statements are based on management’s estimates and opinions as of the date the statements are made. Numinus undertakes no obligation to update any forward-looking statements even if circumstances or management’s estimates or opinions change, except as required by applicable law. Investors should not place undue reliance on forward-looking statements.