Optimi Health Receives Health Canada NPN Product Licenses in Preparation for Q2 Sales Launch
–Company Introduces Celebrity Wellness Expert Harley Pasternak as Advisor
VANCOUVER, British Columbia, March 16, 2021 (GLOBE NEWSWIRE) — Optimi Health Corp. (CSE: OPTI) (“Optimi” or the “Company”), developers of a vertically integrated functional mushroom brand focused on the health and wellness sector, is pleased to announce it has received product licensing paving the way for the commencement of nutraceutical marketing and sales in Q2, 2021.Optimi Health is developing an innovative pipeline of functional, medicinal, and nutraceutical mushroom brands encompassing natural health products to proposed, future psychedelic formulations. In preparation for the public sales launch of its nutraceutical brand lineup, the Company applied for and has now received NPN licenses for six products. These include five singular mushroom strain capsules (Reishi, Chaga, Turkey Tail, Lions Mane and Cordyceps) and one proprietary Optimi formulated mixed blend capsule. To sell natural health products in Canada, companies must obtain a product license called a Natural Product Number (NPN) as assessed by the Natural and Non-Prescription Health Product Directorate (NNHPD) of Health Canada. Once determined that the product is safe, effective, and of high quality, an eight-digit NPN number is granted and must be shown on brand packaging.The Optimi production process aims to cultivate and extract dried mushrooms from its own facilities. Construction of the facilities in Princeton, B.C. is nearing an anticipated completion date of Q2, 2021. The Optimi facilities will focus upcoming production efforts on high demand varieties such as Lion’s Mane, Reishi, Turkey Tail and Cordyceps. The Facilities will contain high volume grow rooms with leading technology, climate-controlled rooms, integrated environmental controls, and supervision by established growers. The Facilities will incorporate research efforts for both nutraceutical products and future licensed efforts into psychedelic-grade mushroom-based formulations alongside vertically integrated onsite processing and extraction technologies to capture maximum margins and scalability.The Company is now preparing products for shipping and distribution directly to consumers, as well as to health food brands, Amazon, and various distributors. Optimi intends to distribute its finished products in Canada via a consumer-oriented website scheduled to launch in Q2, 2021. The Optimi business development team have been approaching health food brands, potential distribution partners, and various retailers to build awareness and develop relationships. With the global functional mushroom market expected to grow to US$34 billion by 2025 (ASD Reports, Jan. 2020), the Company looks forward to commencing revenue generation by the end of Q2 of 2021.JJ Wilson, Optimi Board Chair states, “It’s extraordinary to see all our efforts move ahead so quickly. I am particularly pleased to note our products really reflect our commitment to highest quality natural health formulation standards. Our passion extends to ensuring we use all fruiting-body extracts for their higher beta-glucan count. This is just one small but important demonstration of how we as a company aim to build deep and measured assurance into a quality brand that we hope one day will include the finest fully optimized, safe and healthy psychoactive wellness products.”Market dynamics contributing to the rising demand for mushrooms include societal trends shifting to preventive health care, vegan and vegetarian based diets and increased awareness around the health benefits of functional foods. Accordingly, the Company believes this potential increased demand for mushroom based products will assist it in completing its business objectives over the next twelve months.Optimi aims to build brand awareness, market share, and sales in Canada by promoting its mushroom based food products via a comprehensive awareness campaign. The strategy encompasses both targeted social media marketing, influencer marketing, and advertising campaigns. Primary focus on consumers through strategic brand ambassadors and lifestyle influencers with a defined presence to enable early-stage market penetration and strategic digital marketing campaigns targeting the health and wellness sectors focused on establishing trust, credibility, and legitimacy through curated brand messaging.Harley Pasternak is a globally recognized fitness and nutrition specialist. Mr. Pasternak’s client roster includes many of the most well-known names in Hollywood. He currently stars on the E! channel’s Revenge Body with Khloe Kardashian, makes regular appearances as a fitness contributor to Good Morning America on ABC, formerly starred on ABC’s The Revolution, and as a judge on Top Model. Mr. Pasternak has made worldwide speaking appearances in over 30 countries and is a bestselling fitness and nutritional author published in 14 languages in over 25 countries. He holds a Master of Science in Exercise Physiology and Nutritional Sciences from the University of Toronto and an Honors Degree in Kinesiology from University of Western Ontario. He is also certified by The American College of Sports Medicine and The Canadian Society of Exercise Physiology and served as an exercise and nutrition scientist for Canada’s Department of National Defense.On Behalf of the Board of Directors, Optimi Health Corp.ABOUT OPTIMI (CSE: OPTI)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 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 applied for 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/.FOR FURTHER INFORMATION CONTACT:Investor Relations
Email: [email protected]
Phone: +1 (778) 930-1321
FORWARD-LOOKING STATEMENTSThis 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 the dealer’s license application, activities proposed to be conducted under the Company’s research exemption 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 Final Prospectus dated February 12, 2021. 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.The CSE does not accept responsibility for the adequacy or accuracy of this release.