OPTHF - Optimi Announces Closing of First Tranche of Non-Brokered Private Placement | Benzinga
VANCOUVER, British Columbia, Feb. 28, 2024 (GLOBE NEWSWIRE) -- Optimi Health Corp. (CSE:OPTI) (OTCQX:OPTHF) (FRA: 8BN) ("Optimi" or the "Company"), a Health Canada licensed drug researcher and formulator specializing in controlled psychedelic substances such as natural psilocybin and MDMA, announces that on February 23, 2024 it closed the first tranche ("First Tranche") of a non-brokered private placement (the "Offering"), by issuing 1,850,033 units (each a "Unit") at CAD$0.30 per Unit for gross proceeds of CAD$555,010. Each Unit is comprised of one (1) common share in the capital of the Company (each a "Common Share") and one-half of one (1/2) transferable Common Share purchase warrant (each whole warrant a "Warrant"). Each Warrant entitles the holder to acquire one (1) Common Share at CAD$0.40 for two (2) years from the date of issuance, subject to an accelerated expiry provision, whereby in the event the closing price of the Company's Common Shares on the Canadian Securities Exchange (the "Exchange") exceeds CAD$0.50 for a period of 20 consecutive trading days, at the Company's election, the period within which the Warrants are exercisable, will be reduced and the holders of the Warrants will be entitled to exercise their Warrants for a period of 30 days commencing on the day the Company provides notice, any outstanding Warrants not exercised during the 30 day period will expire.
The Company intends to use the net proceeds from the Offering to obtain its Drug Establishment License, facilitate commercialization, and for general working capital.
JJ Wilson and Dane Stevens, co-founders of Optimi, emphasize, "We are fully dedicated to Optimi's mission of becoming the leading end-to-end supplier of GMP psychedelics. Since our inception four years ago, alongside Bryan and Jacob Safarik, our commitment to shareholders has remained unwavering: to deliver significant value to patients, customers, and shareholders alike. Leading this round of investment, we are excited to propel Optimi's growth by advancing our commercialization efforts and broadening ...