Optimi Health Approved to Supply Psilocybin Under Health Canada’s Special Access Program
VANCOUVER, British Columbia, Feb. 16, 2022 (GLOBE NEWSWIRE) -- Optimi Health Corp. (CSE: OPTI) (OTCQB: OPTHF) (FRA: 8BN) (“Optimi” or the “Company”), developers of a vertically integrated mushroom brand targeting functional and novel psychedelic compounds for the health and wellness sector, is pleased to report that Health Canada has added the Company’s wholly-owned subsidiary Optimi Labs Inc. to a list of approved suppliers under the Special Access Program (SAP). With a mission to provide compassionate, frontline solutions to Canada’s growing mental health crisis, the Company plans to supply psychedelics like psilocybin to those truly in need.
Announced on January 5, 2022, the SAP allows qualified medical practitioners to request access to Schedule 3 controlled substances such as psilocybin on a case-by-case emergency basis. Prior to the new regulatory amendments, medical practitioners were prohibited from requesting access to psilocybin and MDMA for individual psychedelic-assisted psychotherapy. The amendments have the potential to positively affect the lives of people experiencing serious mental health conditions and end-of-life distress when other therapies have failed, are unsuitable or are unavailable in Canada.
Optimi’s CEO, Bill Ciprick, says the SAP is already having a positive impact on patients in need and will provide the Company with the right avenue to develop and supply the demand for natural psilocybin.
“Optimi is committed to bringing transformative change to those suffering from debilitating palliative and non-palliative mental health trauma,” said Ciprick. “We will leave no stone unturned in our effort to provide the safest and most efficacious natural psilocybin product in the world, because frankly we need to get this right for those depending on us for support and healing.”
“Between the science, research, and good manufacturing practices, the SAP is an excellent opportunity for all of us to learn, grow and expand our knowledge capacity and improve treatment outcomes for many people in the years to come,” added Ciprick.
With the Company’s Dealer’s License approved by Health Canada earlier this month, Optimi has received requests for supply agreements from potential partners interested in the Company’s new EU-GMP compliant 10,000 sq. ft. facility located in Princeton, British Columbia. Once fully commercialized, the production facility will position Optimi as a global frontrunner in the cultivation, extraction, and vertical integration of high-grade all-natural psilocybin.
“Establishing Optimi’s presence in the psychedelic market begins with trust, which we believe we have earned through our in-house expert research and world-class advisory team, and by setting the gold standard in GMP compliance,” added JJ Wilson, Optimi’s Chairman of the Board.
Optimi plans to host a grand opening of its new facility this May and is committed to building awareness and education about the benefits of the SAP to physicians qualified to recommend the program to patients.
Chief Executive Officer
Optimi Health Corp.
ABOUT OPTIMI (CSE: OPTI) (OTCQB: OPTHF) (FRA: 8BN)
Optimi is developing a sophisticated mushroom brand that focuses on the health and wellness markets. 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 nearing completion 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. Find out more at: https://optimihealth.ca/.
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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.