Optimi Closes Non-Brokered Private Placement, Here Are The Details

Canadian licensed producer of GMP-grade psilocybin Optimi Health Corp. OPTHF closed a non-brokered private placement of 5,692,308 Optimi units at $0.236 each, for gross proceeds of $1.346.245 with Wilson Capital, the private equity division at Chip Wilson’s family office, and potential total proceeds of $2.379.579. 

The new funds will be directed to supporting Optimi’s psychedelic product commercialization efforts, ongoing projects of psilocybin and MDMA research and clinical trials, in-house drug development, and general working capital.

Each unit consists of one common share and one-half of one common share purchase warrant, with each warrant exercisable at $0.36 for two years from the date of issuance. 

Founder of lululemon athletica inc, Chip Wilson also serves on Optimi’s advisory board. Regarding the investment, which increased his ownership to 9.5% on a fully diluted basis, Wilson stated that his company’s participation reflects their belief that Optimi “can achieve its plan to be a world leader in psychedelic product development and global distribution.”

On behalf of Optimi, CEO Bill Ciprick highlighted the importance of demonstrating to existing shareholders and the market at large, he said 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,” Ciprik said.

This private placement increases the number of common shares owned by Optimi’s founders, advisory board members, directors and officers. Optimi’s co-founder, director and CFO Jacob Safarik said that this “pivotal financing” strategically positions the company by being backed by “one of the most trusted family offices in Canada” within a time of market instability.

Optimi’s co-founder, director and CMO Dane Stevens gave a bullish statement too: “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."

Photo courtesy of Geralt and Sergeitokmakov on Pixabay.