#Novamind news update

platform through eight established, reputable, efficiently operating and revenue-producing clinics,' says Payton Nyquvest, founder and CEO of Numinus. The Novamind acquisition presents a transformational opportunity for Numinus to launch a strong U.S. 'Since Numinus began, we have always strived to be the most trusted, evidence-based leader in psychedelic-assisted therapy and medicine. The acquisition is anticipated to generate C$3 million in annual cost synergies, the majority of which relate to the elimination of duplicative public company expenses and operational systems, further supporting margin enhancement. It is expected to be immediately accretive to Numinus' revenue and gross profit, and, based on forecasts and efficiencies of scale, will shorten the timeline of Numinus' path to profitability.

#Novamind news update

The forward-looking statements contained in this news release are made as of the date of this news release and the Company will update or revise publicly any of the included forward-looking statements as expressly required by applicable laws.The acquisition also accelerates Numinus' path to profitability. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The reader is cautioned not to place undue reliance on any forward-looking information. Important factors that could cause actual results to differ materially from the Company’s expectations including the risks detailed from time to time in the Company’s public disclosure. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. All statements other than statements of historical fact included in this release are forward-looking statements that involve risks and uncertainties. This news release contains forward-looking statements.

Samantha DeLenardo, VP, Communications Email: Mitoulas, Investor Relations Email: Statements Novamind Yaron Conforti, CEO and Director Telephone: +1 (647) 953 9512 For more information on how Novamind is enhancing mental wellness and guiding people through their entire healing journey, visit novamind.ca. Both Cedar Psychiatry and Cedar Clinical Research are wholly owned subsidiaries of Novamind. Novamind provides ketamine-assisted psychotherapy and other novel treatments through its network of Cedar Psychiatry clinics and operates Cedar Clinical Research, a contract research organization specialized in clinical trials and evidence-based research for psychedelic medicine.

Novamind is a leading mental health company enabling safe access to psychedelic medicine through a network of clinics and clinical research sites. A short Q&A session will follow.įor more information about the event and to register for free, visit: About Novamind Conforti will deliver a presentation to update investors on the Company’s rapidly growing network of psychiatry clinics and clinical research sites focused on psychedelic medicine. Novamind’s CEO and Director, Yaron Conforti, will join a panel of industry leaders for a discussion titled, “ Addressing Mental Health through Emerging Therapies” on Thursday, September 30 at 12:35 PM EST.įollowing the panel, from 1:15 PM to 1:30 PM EST, Mr. This advertisement has not loaded yet, but your article continues below.