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Numinus Closes Acquisition of Neurology Centre of Toronto
Friday 24 September 2021

Canada-based mental health care company Numinus Wellness Inc (TSX Venture: NUMI) has closed its acquisition of Canadian clinical neurologic care provider Neurology Centre of Toronto, the company said.

Founded in 2017 by Dr. Evan Lewis (MD), NCT will operate as the "Neurology Centre of Toronto by Numinus" and continue under Dr. Lewis' leadership. Dr. Lewis will assume the role of VP, Psychedelic Neurology Services at Numinus.

The acquisition expands Numinus' presence into Ontario, in addition to an existing clinic and research facility in British Columbia, and clinics in Quebec.

Over its years in operation, NCT has established itself as a clinical neurology provider, in particular regarding the use of medical cannabis for both adult and pediatric patients.

In addition, NCT has developed a rapid access care model that increases patient throughput, reduces wait times, improves cost-effectiveness and facilitates scaling of services.

These developments will form the basis for NCT by Numinus to expand into a clinical neurology centre with specialization in psychedelic neurology.

Current treatments are limited for neurological disorders such as concussion, migraine, cluster headache, neuropathic pain syndromes and epilepsy, particularly when they have comorbid mental health challenges such as depression and anxiety.

Numinus paid CDN 300,000 in cash upon closing of the transaction and CDN 200,000 in Numinus shares upon closing of the transaction.

Future performance-based payments totaling up to CDN 500,000 in Numinus shares
Details
Date Published: 24/09/2021

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