Optimi Health Announces Second Tranche of CAD $1,000,000 Secured for Debt Financing
05 September 2023 - 1:30PM
Optimi Health Corp. (CSE: OPTI) (OTCQX: OPTHF) (FRA: 8BN)
(“
Optimi Health” or the
“
Company”), a Canadian drug research and
formulation company licensed by Health Canada to manufacture
psychedelic substances such as MDMA and high-quality, GMP-grade
natural psilocybin, is pleased to announce it has entered into a
non-dilutive Debt Financing Agreement (“
DFA”) and
General Security Agreement (“
GSA”) for total
proceeds of CAD$1,000,000 (the “
Loan”) from two
arm’s length parties (collectively the “
Lender”).
Pursuant to the DFA and the GSA, the Loan is
secured against the assets of the Company and will bear interest at
a rate of 7.5% per annum, payable by the Company to the Lender
quarterly on the last business day of every fiscal quarter until
full repayment. Upon maturity of the Loan, all outstanding
principal shall be payable on August 29, 2026. The Company may
repay the Loan at any time on notice to the Lender, subject to a
prepayment fee. As partial consideration for the advance of the
Loan from the Lender, the Company has granted a total of 100,000
common share purchase warrants (the “Warrants”),
entitling the purchase of common shares in the Company. The
Warrants are exercisable for three (3) years from the date of
issuance, at $0.50.
FOR INTERVIEW REQUESTS OR FURTHER INFORMATION PLEASE
CONTACT:
Michael KyddInvestor RelationsEmail:
investors@optimihealth.caPhone: +1 (902) 880 6121Web:
www.optimihealth.ca
ABOUT OPTIMI (CSE: OPTI) (OTCQX: OPTHF) (FRA:
8BN)
Optimi Health Corp. is an end-to-end
Canadian-based drug researcher and formulator licensed by Health
Canada to produce and supply psychedelic substances such as
3,4-Methylenedioxymethamphetamine (“MDMA”) and natural, GMP-grade
psilocybin, as well as functional mushrooms that focus on the
health and wellness markets. Built with the purpose of producing
scalable psychedelic formulations for transformational human
experiences, the Company’s goal is to be the number one trusted,
compassionate supplier of safe drug products throughout the world.
Optimi’s products are grown at its two facilities comprising a
total of 20,000 square feet in Princeton, British Columbia, making
it the largest psilocybin and MDMA producer in North America.
FORWARD-LOOKING STATEMENTS
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.
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 9, 2023, and other continuous disclosure filings available
under Optimi’s profile at www.sedarplus.ca. 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.
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