Company Overview
Numinus is a Vancouver-based health care company attempting to address the growing prevalence of mental health issues while promoting greater wellness among adults. It has interests in a range of psychedelic compounds including, psilocybin, psilocin, DMT and MDMA.
The company came into existence by the merger of Salvation Botanicals and Numinus Wellness Inc. It publicly listed on Canada’s TSX Venture Exchange under the ticker “NUMI”, through a reverse takeover with Rojo Resources.
Numinus has a Health Canada cannabis testing license that allows it to test and analyze cannabis products from licensed producers. In addition, through a wholly-owned subsidiary Salvation Botanicals, Numinus is a late-stage applicant to receive a Health Canada standard processing license to produce cannabis products. Additionally, it provides analytical services including conducting independent analytical services, full-spectrum testing and consulting, and developing proprietary methods and protocols to ensure accuracy and reliability using customized state-of-the-art equipment.
Numinus also has a dealer’s license which allows the company to test, possess, buy and sell MDMA, psilocybin, psilocin, DMT, and mescaline. It is seeking to expand the license to include activities such as import/export, testing, and R&D.
Furthermore, the expanded license will allow Numinus to support the growing number of studies on the potential benefits of psychedelic therapies.
The Company also operates a stand-alone centre offering patients integrative health solutions to promote healing & well-being. Psychedelics will be part of this offering and will be available for treatment once approved by regulators and governing bodies.
Investment Rationale:
Early Mover Advantage of Numinus Biosciences
- Numinus has a dealer’s license under the Controlled Substances Act issued in July 2019. This will play an important role in the areas of psychedelic substances research, testing, and global distribution
- Numinus Bioscience has been licensed by Health Canada to test, sell, distribute, and eventually conduct research on psychedelic substances
- With momentum building for the use of psychedelic substances, Numinus is one of the first fully-integrated companies in the psychedelic space in North America.
Multi-Compound Opportunity
- Through one of its subsidiaries, Salvation Labs, Numinus has permission to test, possess, buy and sell MDMA, psilocybin, psilocin, DMT, and mescaline. It is amending its license to soon include activities such as R&D, import/export and packaging/labeling
Value Chain Enhancement Through Including Wellness Centre
- Through Numinus Wellness, The Company provides a full suite of therapeutic services via its wellness centre in Vancouver which includes: six treatment rooms, event/studio space, 15+ therapeutic team including doctors of medicine and naturopathy, and registered nurses
- Numinus plans to offer physical locations where psychedelic-assisted therapies can take place once approved by regulators.
Existing Revenue Support From Cannabis Operations
- Sustainable cannabis revenue driven by Numinus’ testing and production operations providing it with a foundation for growth.
- Set to be a progressive player in the cannabis extraction market upon issuing of its standard processing license by Health Canada, expected in Q4 2020
Fundraising Activities
Between December 2019 and March 2020, Numinus raised a total of C$US6.8mn through:
- Subscription Receipt Financing $5,745,000
- Sidecar Financing $255,000
- Private Placement Financing $800,000
Funds are intended to advance 2020 targets including:
- Partnership with BC Centre on Substance Use
- Psychedelic protocol research and development
- Upgrade Numinus Bioscience lab & processing facility upon receipt of license approvals
- Identify and develop a purpose-built facility
- Clinic acquisitions
Future Outlook
Although Psychedelics may be banned in most jurisdictions globally, that may not be the case for much longer. With so many compounds such as LSD and psilocybin showing promise for treating a range of mental and health conditions, including obsessive-compulsive disorder, PTSD, opioid addiction, alcoholism, eating disorders, depression, anxiety, smoking, and obesity, we can expect monumental changes in the rules regarding the legality of the psychedelics industry.

Source: Company Presentation
Psychedelics for the treatment of mental health issues is a topic of high interest now. The Company is strategically positioned to become a leader in controlled substances testing in Canada by providing scientific expertise. Moreover, its efficient & consultative approach also bodes well for the success of its partners.
The Company is a growth story in the emerging psychedelic therapy space. With plans to expand its clinical footprint to 2-4 new locations and to establish the first licensed testing facility for psychedelics, its business model will be able to support both individual and larger healthcare providers.
Furthermore, as Psychedelic substances continue to gain legitimacy as a treatment for mental illnesses, Numinus will have a strong advatange to capitalize on this opportunity.
Disclaimer: The Author of this report certifies that: (1) He does not hold any equity position in the Company and (2) the views expressed in this report reflect his personal views about the subject matter discussed.
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