VANCOUVER, BC, Jan. 30, 2025 /CNW/ - Numinus Wellness Inc. ("Numinus" or the "Company") (TSX: NUMI) (OTCQX: NUMIF) (FSE: LR23), a mental healthcare company advancing traditional and innovative behavioral health treatments including safe, evidence-based psychedelic-assisted therapies, announces its principal regulator, the British Columbia Securities Commission (the "BCSC"), issued a "failure to file" cease trade order ("FFCTO"), in accordance with Multilateral Instrument 11-103 Failure-to-File Cease Trade Orders in Multiple Jurisdictions. The Toronto Stock Exchange (the "TSX") has suspended trading in the Company's securities due to the FFCTO.
The FFCTO was issued as a result of the Company's delay in filing its audited annual financial statements and accompanying management's discussion and analysis ("MD&A") and Annual Information Form for the fiscal year ended August 31, 2024 (the "Annual Filings"), which were due on November 29, 2024 as well as the Company's interim financial statements and accompanying MD&A for the period ending November 30, 2024 (the "Interim Filings"), in accordance with Canadian securities laws.
Despite the FFCTO, a beneficial holder of a security of the Company who is not, and was not as of the date of the CTO, an insider or control person of the Company may sell securities of the Company acquired before the date of the FFCTO if: (a) the sale is made through a "foreign organized regulated market", as defined in section 1.1 of the Universal Market Integrity Rules of the Investment Industry Regulatory Organization of Canada; and (b) the sale is made through an investment dealer registered in a jurisdiction of Canada in accordance with applicable securities legislation. Holders of the Company's securities are urged to consult with their own investment advisors or legal counsel about the implications of the FFCTO.
The delay in Annual and Interim Filings results from complexities arising from the Company's sale of its U.S. wellness clinics. The Company regrets this delay in filing and the inconvenience to shareholders. The audit is well underway, and the Annual Filings and subsequent Interim Filings will be filed as soon as possible. The FFCTO will remain in place until such time as the Annual and Interim Filings and all continuous disclosure requirements have been filed and the Company receives an order from the BCSC revoking the FFCTO. The Company will make further announcements regarding the status of the Annual and Interim Filings and the FFCTO as and when appropriate.
"We continue to be active in conducting clinical trials at Cedar Clinical Research and serving learners in our practitioner training businesses," said Michael Tan, CEO of the Company. "We look forward to resolving our regulatory delays and moving forward with our growth strategy."
About Numinus
Numinus Wellness Inc. (TSX: NUMI) helps people to heal and be well through the development and delivery of innovative mental health care and access to safe, evidence-based psychedelic-assisted therapies. The Numinus model - technology-driven clinic support, clinical trial research and comprehensive practitioner training - is at the forefront of a transformation aimed at healing rather than managing 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 foundation for a healthier society.
Learn more at www.numinus.com and follow us on LinkedIn, Facebook, and Instagram.
Forward-looking statements
Statements and other information contained in this press release about anticipated 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 an event "may", "will", "should", "could" or "might" occur or other similar expressions. 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, and other risks that are set forth in our annual information form dated November 29, 2023, and available on SEDAR at www.sedarplus.ca. Forward-looking statements are based on estimates and opinions of management at the date the statements are made. Numinus does not undertake any obligation to update forward-looking statements even if circumstances or management's estimates or opinions should change except as required by applicable laws. Investors should not place undue reliance on forward-looking statements.
SOURCE Numinus Wellness Inc.
For more information: Numinus Investor Contact: Craig MacPhail [email protected]
