TORONTO, ON / ACCESSWIRE / December 19, 2023 / Optimind Pharma Corp. (CSE:OMND) (“Optimind” or the “Company”), an emerging provider of psychedelic therapies, is pleased to announce that Manitari Pharma Corporation (“Manitari”) has received its Controlled Drug and Substances Dealer’s License (“Dealer’s License”) on December 8, 2023. This license allows Manitari to process psilocybin and psilocin, the active compounds derived from psychedelic mushrooms. Under the Dealer’s License, Manitari can possess up to 400 grams of psilocybin and psilocin at any time and can transfer the extracted material to other companies who hold a valid Dealer’s License.
Manitari is a joint venture in which Optimind has a 40% ownership interest.
Management Transition and Vision
David Goodman, a member of the Company’s Board of Directors, assumes the mantle of Chief Executive Officer (“CEO”) with a forward-looking vision for Optimind’s continued growth and innovation. Former CEO and Director, Tom Sipos, has gracefully stepped down due to personal reasons. The Company expresses gratitude to Mr. Sipos for his valuable contributions and extends best wishes for his future endeavors.
Strategic Decision and Expansion Plans
The Company has decided not to proceed with the acquisition of Wolf Acquisitions 1.0 Corp., previously announced on October 12, 2023, aligning its focus with key growth opportunities, and optimizing resources for its core initiatives.
“We congratulate Manitari Pharma on achieving this transformative milestone. This Dealer’s License is a testament to our joint commitment to advancing psychedelic therapies, fostering hope for improved mental health treatments,” commented David Goodman, Chief Executive Officer at Optimind.
“This regulatory approval marks a pivotal moment for Manitari Pharma’s mission. Health Canada’s validation of our site plans solidifies our path toward revolutionizing mental health care, starting with empowering the First Nations community and extending our impact globally,” shared Anna Freeman, Chief Executive Officer at Manitari Pharma.
Commitment to Mental Health Advocacy
The joint venture with Manitari Pharma is dedicated to raising awareness about the efficacy of psychedelic-assisted psychotherapy. Advocacy efforts target federal approvals for treating depression and anxiety, which disproportionately affect indigenous communities. The urgent need to address depression, PTSD, anxiety, phobias, and addictions within First Nations communities remains a top priority, considering suicide rates due to mental illness among these communities are three times higher than the North American average.
Innovation and Collaborations
In addition to Optimind’s existing therapies like ketamine-assisted-treatment, the company actively collaborates with leading researchers and developers specializing in psilocybin-associated treatments. These collaborations aim to expand treatment offerings and continuously advance psychedelic therapies based on evidence-based research.
Community Engagement and Social Responsibility
Optimind is committed to fostering mental health initiatives within First Nations communities, emphasizing community outreach, education, and support programs. The company firmly believes in contributing to social well-being alongside its business objectives.
Future Prospects
The recent achievements and strategic realignment position Optimind on a trajectory of sustained growth and leadership within the evolving landscape of psychedelic therapies. The company remains dedicated to pioneering innovative solutions that positively impact mental health on a global scale.
About Optimind
Optimind is an emerging provider of psychedelic therapies. We help people suffering from PTSD, Anxiety, Depression, and other mental illnesses and disabilities by providing ketamine-assisted-treatment and other psychedelic-enhanced-psychotherapy modalities so that they can heal and live life fully. We are also partnered with developers of psilocybin-associated treatments to further expand our treatment and program offerings.
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