Numinus Wellness (NUMI.V) closed its previously announced acquisition of psychedelic programming operation, Mindspace Psychology Services today.
Mindspace Wellbeing, the operational arm of Mindspace Psychology Services, is a well-being organization that started as a psychology clinic in 2011, focusing on finding treatments for mental health. The acquisition expands Numinus’ presence into Quebec.
- Numinus paid the following consideration to complete the Transaction:
- $500,000 in cash upon closing of the Transaction
- A time-based payout of 441,176 common shares of Numinus issued over the course of 24 months
- $100,000 in Numinus shares, issued at Market Price, per year on each of the first three (3) anniversaries of the Closing Date
- A multi-year performance payout of $800,000 in Numinus shares, issued at Market Price
NUMI is involved in the mental health and wellness sector offering solutions around the development and delivery of safe, accessible psychedelic-assisted psychotherapies to help facilitating healing. Their subsidiary, Numinus Health, is involved in treatment delivery for physical, mental and emotional health, through their clinics and virtual services. Lastly, their Numinus R&D arm is neck deep in clinical and therapeutic models, working with partners and health regulators to pave the way for approved and regulated use in mental healthcare scenarios.
Mindspace is best known for its Psychedelic Harm Reduction and Integration programming, originally launched in 2019, which is a course of training in Canada for clinicians looking to help their clients work safety with psychedelics. In 2020, the company expanded on its offerings to include ketamine based psychotherapy for treatment-resistant depression.
At present, Mindspace has two locations in Montreal supporting over 1,400 clients through in-person and virtual services. Mindspace also has their own podcast with 4,000 subscribers.
The purchase agreement was previously announced on December 15, 2020 .
Numinus Wellness is up $0.04 today, closing at $1.51.