VANCOUVER, BC, Nov. 15,
2024 /CNW/ - Numinus Wellness Inc. (TSX: NUMI)
(OTCQX: NUMIF) ("Numinus" or the "Company"), a
leader in mental health care specializing in innovative and
evidence-based treatments, announces that it has requested a
temporary Management Cease Trade Order ("MCTO") from the
British Columbia Securities Commission ("BCSC") in
connection with the Company's filing of its audited annual
financial statements (the "Audited Financial Statements")
and MD&A for the financial year ended
August 31, 2024.
The Company is requesting the MCTO in order to secure additional
time to finalize its Audited Financial Statements, the related
MD&A and the applicable CEO and CFO certifications (the
"Annual Filings"). The delay in filing the Annual Filings is
a result of unexpected delays experienced by the Company. The
Company is working with its accounting team to prepare the
Financial Statements and respond to all queries. It is the
Company's reasonable expectation that the Annual Filings will be
finalized by the end of the year.
By way of background and as required by the BCSC, the Company
notes the following:
- The Company is required to file its Annual Filings all in
accordance with IFRS within 120 days after the end of its
completed financial year, such date being November 29, 2024 (the "Annual Filing
Deadline") as required by National Instrument 51-102
Continuous Disclosure Obligations ("NI 51-102"). The
Company does not anticipate that it will be able to complete the
Annual Filings on or before the Annual Filing Deadline.
- The Company is working diligently to prepare and file the
Annual Filings by the end of the year, subject to its auditors'
staff availability.
- The Company confirms that it intends to issue a status report
on a bi-weekly basis, for as long as it remains in default of
the Annual Filing Deadline in respect of the Annual Filings.
- The Company is not subject to any insolvency proceedings.
- There is no other material information concerning the affairs
of the Company that has not been generally disclosed.
The Company has imposed an insider trading blackout pending the
filing of the Annual Filings and will comply with the alternative
information guidelines described in National Policy 12-203
Management Cease Trade Orders during such period.
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 – including
psychedelic research and clinic care – 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. In particular, and
without limitation, this news release contains forward-looking
statements respecting the Company's reasonable expectation that the
Annual Filings will be finalized by late December 2024 or early January 2025.
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 research into MDMA, if any, the
FDA and other regulators' decisions in respect of MDMA and other
psychedelic medications, restrictions that may be placed on the use
of psychedelic compounds by regulatory authorities; safety and
efficacy of psychedelic-assisted therapy; acceptance, uptake and
commercialization of psychedelic assisted therapy, if any;
dependence on obtaining regulatory approvals, 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.
For more information:
Investor Contact: Craig
MacPhail invest@numinus.com
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SOURCE Numinus Wellness Inc.
