Highlights:

• $1.85 million in proceeds received through a strategic offering of units at $0.325 per unit with each unit comprised of one common share and one-half of one (1/2) Common Share purchase warrant exercisable at $0.50, for total potential proceeds of $3.27 million.

• Financing will fuel Optimi’s ongoing commercialization efforts, support new product development and provide necessary working capital to be strategic in the marketplace, with opportunities being explored in Oregon and Alberta.

• Chip Wilson, founder of lululemon athletica inc., is an advisor to the Company and health and wellness advocate.

• The Private Placement increases Chip’s ownership to 9.5% on a fully diluted basis.

VANCOUVER, BC — October 11, 2022 — Optimi Health Corp. (CSE: OPTI) (OTCQX: OPTHF) (FRA: 8BN) (“Optimi” or the “Company”), a leading GMP producer and safe supply advocate licensed by Health Canada to produce and distribute natural, EU-GMP grade psilocybin and other psychedelic substances, most notably MDMA, is pleased to announce it has closed a non-brokered private placement of 5,692,308 units of the Company (each a “Unit”) at a price of $0.325 per Unit (the “Private Placement”) for gross proceeds of $1,850,000 with Wilson Capital, the Private Equity Division Chip Wilson’s (“Chip”) family office. The Company intends to use the proceeds from the issuance of the Units to support its psychedelic product commercialization efforts, ongoing psilocybin and MDMA research and clinical trial initiatives, in-house drug development, and for general working capital.

Each Unit consists of one (1) common share of the Company (a “Common Share”) and one-half of one (1/2) Common Share purchase warrant (each whole warrant, a “Warrant”). Each Warrant is exercisable at $0.50 for a period of two (2) years from the date of issuance. The Common Shares and Warrants comprising the Units and any Common Shares issued upon exercise of the Warrants are subject to a statutory hold period of four months plus a day from the date of issuance in accordance with applicable securities laws.

Optimi welcomes this strategic investment led by the family office of Chip Wilson, founder of lululemon athletica inc., who also serves on the Advisory Board of Optimi. Mr. Wilson, stated, “Our participation in the placement speaks to our belief that the Company can achieve its plan to be a world leader in psychedelic product development and global distribution.”

Optimi CEO, Bill Ciprick, commented, “It is important to demonstrate both to our existing shareholders and the market at large that Optimi’s leadership is taking an active role in raising smart capital. When looking at a variety of potential funding options to lead this round of financing, apart from ensuring the terms of the financing were highly competitive, expanding its relationship with Chip through this investment was the preferred scenario given Chip’s familiarity with the operational business, his ongoing support to Optimi in an advisory capacity, and understanding of management and the Board’s track record and commitment to achieving its near and long-term corporate milestones.”

The private placement increases the amount of the Company’s Common Shares owned by Founders, members of the Advisory Board, Directors, and Officers.

Optimi co-founder, director and CFO, Jacob Safarik, says, “This pivotal financing puts the Company in the enviable position of being backed by one of the most trusted family offices in Canada. In a time of market instability, Optimi has maintained the necessary flexibility to execute on its path to profitability while strengthening its working capital position to continue pursuing important product development and research initiatives that support Optimi’s position as a leading safe supply advocate,” said Safarik. “It is crucial to our continued success that Optimi be ready for opportunities including the implementation of legal psychedelic therapy in new markets taking shape, such as Oregon and Alberta, and that we have a variety of safe, lab tested, EU-GMP psilocybin and MDMA products available to patients around the world as the global regulatory markets continue to evolve.”

The strategic offering sets the foundation for the Company’s upcoming expansion milestones, including Phase I and II psilocybin and MDMA clinical trials with ATMA Journey Centers, the rollout and expansion of Optimi’s functional mushroom and psychedelic product catalogues, and establishing an operational footprint in Oregon’s regulated psilocybin market.

Optimi co-founder, director and CMO, Dane Stevens, stated, “This sends the right message at the right time to investors paying close attention to the psychedelics market. When an investor like Chip Wilson offers to increase his position and back the future of Optimi, you find a way to get a deal done. Optimi would not exist without the vision and commitment of JJ and Chip Wilson, the Safarik family, and the shared belief that the work we are doing today will improve the health of so many in need for many years to come. With this strategic raise, we are building trust with shareholders and operations team alike, and demonstrating that the Company’s Founders and leadership team are committed to the long-term success and growth of Optimi.”

The Wilson family recently made news for their $100,000,000 donation, the largest in history, to the B.C. Parks Foundation — as well as the establishment of Solve FSHD (a foundation to research into a cure for facioscapulohumeral muscular dystrophy) with an additional $100 million, in September and March of 2022, respectively. These were facilitated by the Wilson 5 Foundation, the family’s private foundation.

Optimi Health products are still being investigated through a clinically validated development program for the purpose of applying for market authorization. The safety and efficacy of our products has not been formally established.

FOR INTERVIEW REQUESTS OR FURTHER INFORMATION PLEASE CONTACT:

Michael Kydd
Investor Relations
Email: investors@optimihealth.ca

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