Highlights:
- The safe supply of psychedelic drug products manufactured at a GMP-level is critical in treating serious mental health issues. Minister of Mental Health and Addictions, the Honourable Carolyn Bennett, has publicly stated that safe drug supply is paramount to reducing overdose deaths.
- Optimi Health is the largest cultivator of natural EU-GMP psilocybin and MDMA in North America.
- Optimi Health is licensed by Health Canada to supply clinical trials and patients approved under the Special Access Program.
VANCOUVER, British Columbia, Oct. 06, 2022 (GLOBE NEWSWIRE) — Optimi Health Corp. (CSE: OPTI) (OTCQX: OPTHF) (FRA: 8BN) (âOptimiâ or the âCompanyâ), a leading Canadian-based company licensed by Health Canada to produce and supply natural, EU-GMP grade psilocybin and other psychedelic substances, most notably MDMA, is applauding the government of Albertaâs decision to regulate some psychedelics for therapeutic use in the province.
The proposed framework as stated by the Government of Alberta comes into effect on January 16, 2023. It would give a physician, psychiatrist, or doctor the ability to prescribe and administer psilocybin, MDMA, or other psychedelics produced by Optimi to patients under the Mental Health Services Protection Act.Â
Optimi CEO, Bill Ciprick, made the following statement on behalf of the Company:
âYesterday, the Government of Alberta made a bold and politically courageous decision to regulate the use of psychedelic therapy for patients suffering from a variety of treatment-resistant conditions. They have accepted the substantial body of research, including the completion of a growing number of randomized clinical trials, which highlight psilocybin (the active ingredient in âmagicâ mushrooms) when paired with psychotherapy as an emerging and novel approach for the treatment of a host of mental health conditions, including treatment-resistant depression, substance-use disorder, and severe anxiety associated with a terminal diagnosis.
Thanks to Optimiâs existing partnerships and supply agreements with clinics, therapists, and researchers within the Province of Alberta â including ATMA Journey Centers, Bloom Psychedelic Therapy and Research Centre, and SABI Mind â the Company is uniquely positioned to support the development of Albertaâs regulated psychedelic therapy infrastructure.Â
The increasing evidence supporting the benefits of psilocybin-containing mushrooms when used as part of psychotherapy has resulted in growing international interest in moving quickly to increase patient access to this treatment given the impressive and growing track records of safety in both the therapeutic and naturalistic use contexts.
We have seen widespread, bi-partisan support for psilocybin and MDMA Bills introduced in State legislatures across the United States; the Biden Administration has appointed a special task force to understand and prepare for the regulation of psychedelics in the U.S; and recently, Canadian Minister of Mental Health and Addictions, the Honourable Carolyn Bennett, admitted that Canada needs a safe supply of drugs to fight the spiraling opioid crisis.Â
While we await further details on Albertaâs regulatory framework, we encourage other provincial health ministries to start asking the right questions about psychedelic therapy, and to seek further guidance from the Psychedelic Association of Canadaâs Memorandum of Regulatory Analysis (MORA) which provides a step-by-step regulatory framework for end-of-life and palliative Canadians.Â
As a Health Canada licensed supplier of EU-GMP natural psilocybin and synthetic psychedelics, Optimi Health is committed to working with the Government of Alberta to supply the therapeutic psychedelics they need to treat those who are suffering.âÂ
Optimiâs state-of-the-art EU-GMP cultivation and analytical facilities in Princeton, British Columbia are now fully operational. After completing the largest legal grow of natural psilocybin in Canadaâs history, the Company is aiming for first-mover advantage in Oregon as the demand for natural product intensifies in the legalized State and will be contacting the government of Alberta in the coming days to discuss supply.Â
âWe believe a key differentiator in the psychedelics space is that Optimi is commercializing and ready to go now,â said Dane Stevens, Optimi Co-Founder and Chief Marketing Officer. âWhile we eagerly wait for Health Canada to regulate access for something we believe to be a safe and efficacious medicine when delivered with therapy, this announcement by the Government of Alberta can help patients today. Optimiâs timeline is now, and we are excited to be one of the first companyâs supplying tested, EU-GMP psychedelic products to regulated jurisdictions such as Oregon and Alberta,â added Stevens.
More information on the regulatory administrative and service requirements proposed under Albertaâs Mental Health Services Protection Act can be found here.
FOR INTERVIEW REQUESTS OR FURTHER INFORMATION PLEASE CONTACT:
Michael Kydd
Investor Relations
Email: investors@optimihealth.ca
Phone: +1 (902) 880 6121
ABOUT OPTIMI (CSE: OPTI) (OTCQX: OPTHF) (FRA: 8BN)
Optimi Health Corp. is a Canadian-based company licensed by Health Canada to produce and supply natural, EU-GMP grade psilocybin and synthetic psychedelic substances, 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 Companyâs goal is to be the number one trusted, compassionate supplier of safe drug products throughout the world. Optimiâs 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 cultivator in North America.
FORWARDâLOOKING STATEMENTS
This news release contains forwardâlooking statements and forwardâlooking information within the meaning of Canadian securities legislation (collectively, âforwardâlooking statementsâ) that relate to Optimiâs 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 âwill likely result,â âare expected to,â âexpects,â âwill continue,â âis anticipated,â âanticipates,â âbelieves,â âestimated,â âintends,â âplans,â âforecast,â âprojection,â âstrategy,â âobjective,â and âoutlookâ) are not historical facts and may be forwardâlooking statements and may involve estimates, assumptions and uncertainties which could cause actual results or outcomes to differ materially from those expressed in such forwardâlooking statements. No assurance can be given that these expectations will prove to be correct and such forwardâlooking 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 forwardâ looking statements pertaining to activities proposed to be conducted under the Companyâs approved Health Canada dealerâs licence and associated business related to Psilocybin, Psilocin, other psychedelic substances, some being synthetically formulated, and Optimiâs plans, focus and objectives.
Forwardâlooking statements are based on a number of assumptions and are subject to a number of risks and uncertainties, many of which are beyond Optimiâs control, which could cause actual results and events to differ materially from those that are disclosed in or implied by such forwardâlooking statements. Such risks and uncertainties include, but are not limited to, the impact and progression of the COVIDâ19 pandemic and other factors set forth under âForwardâLooking Statementsâ and âRisk Factorsâ in the Companyâs Annual information Form dated January 12, 2022, and other continuous disclosure filings available under Optimiâs profile at www.sedar.com. Optimi undertakes no obligation to update or revise any forwardâlooking 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 forwardâlooking statement.
Any forwardâlooking statements contained in this news release are expressly qualified in their entirety by this cautionary statement.