Numinus Wellness Inc. Provides Update on Management Cease Trade Order

Vancouver, BC – Dec. 16, 2024 /PRNewswire/ – Numinus Wellness Inc. (TSX: NUMI) (OTCQX: NUMIF), a leader in mental health care specializing in innovative and evidence-based treatments, has provided an update on its management cease trade order (“MCTO”).

Background

Numinus had previously announced a management cease trade order in connection with the Company’s filing of its audited annual financial statements, management discussion and analysis, and annual information form for the financial year ended August 31, 2024. The British Columbia Securities Commission granted the MCTO on December 2, 2024, under National Policy 12-203.

The MCTO was issued due to the Company’s delay in filing its Annual Filings. This delay was addressed in the Company’s news release dated December 3, 2024. The Annual Filings include the Audited Financial Statements, the MD&A, and the AIF, along with the applicable CEO and CFO certifications.

Impact

The MCTO prohibits the CEO and CFO from trading in securities of the Company until the Annual Filings are completed and filed. This order ensures that shareholders have accurate and up-to-date information about the Company’s financial health and performance.

While the MCTO may cause temporary restrictions on trading, it ultimately benefits shareholders by promoting transparency and accountability within the Company. By adhering to regulatory requirements and ensuring timely filings, Numinus is able to maintain trust and confidence among investors and stakeholders.

How will this affect me?

As a shareholder of Numinus Wellness Inc., the MCTO may affect your ability to trade securities in the short term. However, this regulatory measure is put in place to protect the interests of investors like yourself by ensuring that accurate financial information is available before trading resumes.

It is important to stay informed about the Company’s progress in completing and filing the Annual Filings. Once the MCTO is lifted and trading resumes, you can make informed decisions based on updated financial data.

How will this affect the world?

Numinus Wellness Inc.’s compliance with regulatory requirements, such as the management cease trade order, contributes to the overall integrity of the financial markets. By prioritizing transparency and accountability, the Company sets a positive example for other organizations in the industry.

Global investors and stakeholders can have confidence in Numinus’s commitment to following best practices and upholding the highest standards of corporate governance. This proactive approach to regulatory compliance helps maintain trust and stability in the global financial system.

Conclusion

In conclusion, Numinus Wellness Inc.’s update on the management cease trade order demonstrates the Company’s dedication to transparency and regulatory compliance. While the MCTO may result in temporary trading restrictions, it ultimately benefits shareholders and the global financial community by promoting trust and accountability.