Numinus Updates Shareholders on Delayed Annual Filings Amid Management Cease Trade Order

Numinus Wellness Inc., a frontrunner in mental health care, has issued its latest update regarding the ongoing delay in its annual financial filings. This follows a previously granted Management Cease Trade Order (MCTO) by the British Columbia Securities Commission (BCSC), restricting trading by the company’s CEO and CFO until the filings are completed. Despite the setback, Numinus reassures investors that the delay is temporary, with efforts underway to resolve the issue by the end of January.

Context of the Delay and Current Measures

The company announced that unexpected challenges have hindered the completion of its audited annual financial statements, management discussion and analysis, and related certifications for the fiscal year ending August 31, 2024. To address this, Numinus has committed to bi-weekly updates, ensuring transparency and adherence to National Policy 12-203 (NP 12-203).

As part of the MCTO conditions:

• The company has suspended any share buy-back activities.
• No securities can be issued or acquired from insiders or employees during this period.
• Shareholders, however, retain the ability to trade freely.

Progress Toward Resolution

Numinus has reiterated its intention to finalise the filings by 28 January 2025. Management is closely collaborating with its accounting team to expedite the process while maintaining accuracy. This commitment reflects the company’s proactive approach to compliance and shareholder confidence.

To date:

1. The company has adhered to all stipulated alternative information guidelines under NP 12-203.
2. There are no additional defaults or insolvency proceedings reported.
3. Material information has been fully disclosed, ensuring no surprises for investors.

What Does the MCTO Mean for Investors?

While the MCTO temporarily halts trading for the CEO and CFO, it does not directly impact ordinary shareholders. Investors can continue trading as usual, with no restrictions imposed on public market activity. This separation of management accountability from shareholder interests aims to safeguard trust and transparency.

• The delay is not tied to insolvency or financial instability.
• Numinus remains committed to innovative mental health solutions, a cornerstone of its operational focus.
• Regular updates will keep the market informed, minimising speculation.

A Closer Look at Numinus Wellness Inc.

Numinus is a pioneer in integrating psychedelic-assisted therapies into mainstream mental health care. The company’s services target conditions such as depression, anxiety, trauma, and substance use disorders. Its clinical and research models aim to transform care paradigms, shifting from symptom management to holistic healing.

The firm’s long-term vision remains intact despite the temporary setback. Leadership underscores that the delay in filings has no bearing on the company’s operational capabilities or its ongoing clinical and research activities.

Implications for the Mental Health Sector

Delays like this can sometimes lead to investor apprehension, especially in a rapidly advancing sector such as psychedelic-assisted therapy. However, Numinus’s approach to transparent communication could set a precedent for accountability within the industry.

For stakeholders in the mental health space:

• Regulatory compliance is paramount to maintaining credibility.
• Transparent reporting fosters stronger investor relationships, even during challenging times.

Numinus plans to issue a follow-up announcement once the annual filings are submitted. Until then, stakeholders are advised to refer to the company’s SEDAR+ filings for the latest updates.