A Canadian psychedelics company has received approval to move to the top tier of the TSX Venture Exchange market.
Numinus Wellness Inc will be able to attract more investors for its research-led operation, as well as benefiting from ‘improved service standards [and] reduced compliance obligations’.
The company describes itself as a ‘global leader in supporting and expanding the safe, accessible, and evidence-based use of psychedelic-assisted psychotherapies’
The move, effective as of June 18, marks the latest psychedelics-derived treatment developers to position themselves on the money markets as investors continue to circle.
The TSXV market, which is based in Canada, classifies listed issuers into different tiers based on standards including historical financial performance, stage of development and financial resources.
Tier 1 is the TSXV’s premier tier and is reserved for the TSXV’s most advanced issuers with the most significant financial resources.
Payton Nyquvest, CEO of Numinus, said: “This up-listing is another indication that Numinus has effectively advanced its healthcare strategy, met its business objectives and built a rapidly scalable growth platform to lead the emerging sector of psychedelic-assisted psychotherapy.
“Going forward, we expect to achieve near-term catalysts across our business including clinic acquisitions, new intellectual property, MDMA and psilocybin compassionate access trials, in-clinic ketamine-assisted therapy and further up-listings in the US and Canada.
“All of this is aimed at creating shareholder value, and supporting our ambition to help as many people as possible heal and be well.”
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