The Phoenix Site is Numinus’ Third Research Facility in the US

VANCOUVER, BC, Feb. 17, 2023 – Numinus Wellness Inc. (“Numinus”) (TSX:NUMI) (OTCQX:NUMIF), a mental health care company advancing innovative treatments and safe, evidence-based psychedelic-assisted therapies, today announced that it has expanded its clinical research capabilities into Arizona. The site, located in Phoenix where Numinus operates mental health clinics, is Numinus’ third clinical trial research site in the US, and fifth research site overall. It will offer clinical research management services, focused on advancing psychedelic science through Cedar Clinical Research (CCR).

“By expanding into Phoenix, we can scale our clinical research capabilities, allowing us to offer our current clients faster services and an expanded network of participants, while welcoming a growing list of biotech and psychedelic organizations,” says Paul Thielking, Chief Research Officer, Numinus. “The site is fully staffed – drawing on our clinic-base of renowned researchers and practitioners, so we can start operations as soon as possible.”

The new site is located within an existing leased facility, next to one of Numinus’ established wellness clinics, to fully utilize available clinical space. The first clinical trial operating out of the new site will begin in early March with a Site Inspection Visit before beginning the recruitment phase later that month.

“The addition of this new clinical research site further cements Numinus as one of the leading research platforms for the sector’s companies and institutions who sponsor clinical trials in the mental health and psychedelic space, allowing them to leverage our extensive resources and management offering,” says Payton Nyquvest, CEO and Founder, Numinus. “Ultimately, this allows Numinus to support the growing body of research in the mental health and psychedelic space as we all work towards the goal of more indication-based evidence and safety data.”

In Numinus’ most recent reported quarter (for the three months ended November 30, 2022), CCR managed 14 clinical trials for third-party biotech and psychedelics sector companies, which included 191 clinical trial participants.

In addition to Numinus’ five clinical research sites, Numinus also operates a Health Canada-licensed lab which develops proprietary intellectual property and focuses on advancing psychedelic discoveries.

About Numinus

Numinus Wellness (TSX:NUMI; OTCQX:NUMIF) helps people to heal and be well through the development and delivery of innovative mental healthcare and access to safe, evidence-based psychedelic-assisted therapies. The Numinus model – including psychedelic production, research and clinic care – is at the forefront of a transformation aimed at healing rather than managing symptoms for 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, Twitter, and Instagram.

Forward-looking statements
This press release contains forward-looking statements within the meaning of applicable securities laws. All statements that are not historical facts, including without limitation, statements regarding future estimates, plans, programs, forecasts, projections, objectives, assumptions, expectations or beliefs regarding future performance are “forward-looking statements”. Forward-looking statements can be identified by the use of words such as “expects”, “does not expect”, “is expected”, , “intends”, “anticipates”, “does not anticipate”, “believes” or variations of these words, expressions or statements, that certain actions, events or results “may”, “could”, “would”, “might” or “will be” taken, will occur or will be realized. Such forward-looking statements involve risks, uncertainties and other known and unknown factors that could cause actual results, events or developments to differ materially from the results, events or developments expected and expressed or implied in such forward-looking statements. These risks and uncertainties include, but are not limited to, ability of the new Arizona facility or CCR to attract clients, achieve revenues or profitability, ability of its Health Canada approved lab to develop viable intellectual property, to commercialize that intellectual property or to achieve revenues or profits thereon, dependence on obtaining and maintaining regulatory approvals, including the acquisition and renewal of federal, provincial, municipal, local or other licenses, and any inability to obtain all necessary government authorizations, licenses and permits to operate and expand Numinus’ facilities; regulatory or policy changes such as changes in applicable laws and regulations, including federal and provincial legalization, due to fluctuations in public opinion, industry perception of integrative mental health, including the use of psychedelic-assisted therapy, delays or inefficiencies or any other reason; any other factor or development likely to hamper the growth of the market; Numinus’ limited operating and profitability track record; dependence on management; Numinus’ need for additional financing and the effects of financial market conditions and other factors on the availability of capital; competition, including that of more established and better funded competitors; the continued impact of the COVID-19 pandemic; the need to build and maintain alliances and partnerships, including with research and development companies, customers and suppliers and other Risk Factors disclosed in Numinus’ public filings available on the SEDAR website at www.sedar.com. These factors should be carefully considered, and readers are cautioned not to place undue reliance on forward-looking statements. Despite Numinus’ efforts to identify the main risk factors that could cause actual measures, events or results to differ materially from those described in forward-looking statements, other risk factors may cause measures, events or developments to materially differ from those anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in forward-looking statements. Except as required by applicable securities laws, forward-looking statements speak only as of the date on which they are made (or such earlier date, if identified) and Numinus does not undertake to revise forward-looking statements, even if new information becomes available as a result of future events, new facts or any other reason, except as required by applicable laws.

SOURCE Numinus Wellness Inc.

For further information: Hilary Strath, Director, Communications, Hilary.strath@numinus.com; For investor inquiries: Jamie Kokoska, VP, Investor Relations & Financial Communications, jamie.kokoska@numinus.com

Featured Image Depositphotos @ realcg

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6) This document contains forward-looking information and forward-looking statements, within the meaning of applicable Canadian securities legislation, (collectively, “forward-looking statements”), which reflect management’s expectations regarding Numinus Wellness Inc.’s future growth, future business plans and opportunities, expected activities, and other statements about future events, results or performance. Wherever possible, words such as “predicts”, “projects”, “targets”, “plans”, “expects”, “does not expect”, “budget”, “scheduled”, “estimates”, “forecasts”, “anticipate” or “does not anticipate”, “believe”, “intend” and similar expressions or statements that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved, or the negative or grammatical variation thereof or other variations thereof, or comparable terminology have been used to identify forward-looking statements. These forward-looking statements include, among other things, statements relating to: (a) revenue generating potential with respect to Numinus Wellness Inc.’s industry; (b) market opportunity; (c) Numinus Wellness Inc.’s business plans and strategies; (d) services that Numinus Wellness Inc. intends to offer; (e) Numinus Wellness Inc.’s milestone projections and targets; (f) Numinus Wellness Inc.’s expectations regarding receipt of approval for regulatory applications; (g) Numinus Wellness Inc.’s intentions to expand into other jurisdictions including the timeline expectations relating to those expansion plans; and (h) Numinus Wellness Inc.’s expectations with regarding its ability to deliver shareholder value. Forward-looking statements are not a guarantee of future performance and are based upon a number of estimates and assumptions of management in light of management’s experience and perception of trends, current conditions and expected developments, as well as other factors that management believes to be relevant and reasonable in the circumstances, as of the date of this document including, without limitation, assumptions about: (a) the ability to raise any necessary additional capital on reasonable terms to execute Numinus Wellness Inc.’s business plan; (b) that general business and economic conditions will not change in a material adverse manner; (c) Numinus Wellness Inc.’s ability to procure equipment and operating supplies in sufficient quantities and on a timely basis; (d) Numinus Wellness Inc.’s ability to enter into contractual arrangements with additional Pharmacies; (e) the accuracy of budgeted costs and expenditures; (f) Numinus Wellness Inc.’s ability to attract and retain skilled personnel; (g) political and regulatory stability; (h) the receipt of governmental, regulatory and third-party approvals, licenses and permits on favorable terms; (i) changes in applicable legislation; (j) stability in financial and capital markets; and (k) expectations regarding the level of disruption to as a result of CV-19. Such forward-looking information involves a variety of known and unknown risks, uncertainties and other factors which may cause the actual plans, intentions, activities, results, performance or achievements of Numinus Wellness Inc. to be materially different from any future plans, intentions, activities, results, performance or achievements expressed or implied by such forward-looking statements. Such risks include, without limitation: (a) Numinus Wellness Inc.’s operations could be adversely affected by possible future government legislation, policies and controls or by changes in applicable laws and regulations; (b) public health crises such as CV-19 may adversely impact Numinus Wellness Inc.’s business; (c) the volatility of global capital markets; (d) political instability and changes to the regulations governing Numinus Wellness Inc.’s business operations (e) Numinus Wellness Inc. may be unable to implement its growth strategy; and (f) increased competition.

Except as required by law, Numinus Wellness Inc. undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future event or otherwise, after the date on which the statements are made or to reflect the occurrence of unanticipated events. Neither does Numinus Wellness Inc. nor any of its representatives make any representation or warranty, express or implied, as to the accuracy, sufficiency or completeness of the information in this document. Neither Numinus Wellness Inc. nor any of its representatives shall have any liability whatsoever, under contract, tort, trust or otherwise, to you or any person resulting from the use of the information in this document by you or any of your representatives or for omissions from the information in this document.

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