Optimi Archives - Green Market Report

StaffMarch 1, 2021


Optimi Health Corp. (CSE: OPTI) announced the closing of its oversubscribed initial public offering on February 24, 2021. Pursuant to the Offering, the Company issued 27,600,000 units of the Company at a price of $0.75 per Unit for aggregate gross proceeds to the Company of $20,700,000, which includes the full exercise of the over-allotment option.

The common shares of the Company and the common share purchase warrants issued began trading on February 25, 2021 on the Canadian Securities Exchange. The Offering was led by Mackie Research Capital Corporation, as the lead agent and sole bookrunner, on behalf of a syndicate of agents, including Canaccord Genuity Corp. and Stifel Nicolaus Canada Inc.

The Units offered under the Offering each consist of one Common Share and one‐half of one common share purchase warrant of Optimi. Each Warrant is exercisable to acquire one common share of the Company at an exercise price of $1.25 per Warrant Share at any time until February 24, 2023.

The net proceeds of the Offering will be used for capital expenditures related to the Company’s facilities in Princeton, BC, the development of the company’s functional mushroom business, the execution of the Company’s Psilocybin and Psilocin research and development initiatives, and for working capital requirements and other general corporate purposes.

No securities regulatory authority has either approved or disapproved of the contents of this news release. The Units, the Unit Shares and the Warrants comprising the Units, and the Warrant Shares issuable upon exercise of the Warrants, have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act“), or any state securities laws. Accordingly, the Units may not be offered or sold within the United States or to U.S. persons (as defined in Regulation S under the U.S. Securities Act) unless registered under the U.S. Securities Act and applicable state securities laws, or pursuant to exemptions from the registration requirements of the U.S. Securities Act and applicable state securities laws. This news release does not constitute an offer to sell or a solicitation of an offer to buy any securities of Optimi in any jurisdiction in which such offer, solicitation or sale would be unlawful.

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 at its wholly owned Optimi Labs Inc subsidiary.

StaffSeptember 29, 2020


Canadian mushroom company Optimi Health Corp. closed an oversubscribed non-brokered private placement of 17,963,005 special warrants at a price of $0.25 per Special Warrant for aggregate gross proceeds of $4,490,751.25 million.

Optimi plans to cultivate and extract mushrooms inside two purpose-built GMP certified facilities, strategically located in Princeton, British Columbia. The company’s goal is to leverage existing supply chain efficiencies to deliver a line of nutraceutical products directly to consumers. The company plans to use the money to advance its mushroom growth and R&D facilities in Princeton, British Columbia as it develops a product line of functional mushroom supplements and to pursue the development of its pharmaceutical-grade facility. The products would include Lions Mane, Reishi, Chaga, Turkey Tail and Cordyceps.

Deal Details

Each Special Warrant entitles the holder thereof to automatically receive, without additional payment, one unit (a “Unit”) in the capital of the Company upon the earlier of (i) January 12, 2020, and (ii) the second business day after the Company receives a receipt for a final long form prospectus qualifying the distribution of the Units. Each Unit consists of one common share (a “Share”) and one common share purchase warrant (a “Warrant”). Each Warrant entitles the holder thereof to acquire one Share at a price of $0.40 for a period of two years from the closing of the Private Placement.

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