Numinus Wellness Inc. (CVE:NUMI) said it has closed its acquisition of Mindspace Psychology Services Inc. (DBA Mindspace Wellbeing), a leader and pioneer in psychedelic programming, as previously announced on December 15, 2020.
The acquisition expands Numinus' presence into Quebec, building on its Vancouver office with two established locations and extensive virtual services as well as insights garnered from a decade of successful clinic management. Founded by Dr Joe Flanders in 2011, Mindspace will continue under his leadership, the group said.
READ: Numinus Wellness finishes fiscal 1Q with a strong cash balance to advance psychedelic treatment initiatives
The company paid a consideration of $500,000 in cash upon closing of the transaction A time-based payout of 441,176 common shares of Numinus will also be issued/over the course of 24 months, plus $100,000 in Numinus shares, issued at market price, per year on each of the first three anniversaries of the acquisition closing date, and a multi-year performance payout of $800,000 in Numinus shares, issued at market price.
Numinus Wellness is a mental health and wellness company creating solutions centred around the development and delivery of safe, evidence-based, accessible psychedelic-assisted psychotherapy to help people heal and be well.
Contact the author at jon.hopkins@proactiveinvestors.com