Optimi Health Announces Closing of Fully Subscribed $1,500,000 Financing

VANCOUVER, BC, May 31, 2024 /PRNewswire/ - Optimi Health Corp. (CSE: OPTI) (OTCQX: OPTHF) (FRA: 8BN), a leading Health Canada-licensed GMP psychedelics pharmaceutical manufacturer specializing in controlled substances such as botanical psilocybin and MDMA, is pleased to announce it has closed a third and final tranche of its non-brokered private placement (the "Offering"). The Offering consisted of units (each a "Unit") at CAD$0.30 per Unit for gross proceeds of CDN$1,500,000. Optimi raised CDN$544,990 in the third tranche closed May 29, 2024, CDN$400,000 in the second tranche closed May 10, 2024, and CDN$555,010 in the first tranche which closed February 23, 2024.

Each Unit under the Offering is comprised of 1 common share in the capital of the Company (each a "Common Share") and 1/2 of a transferable Common Share purchase warrant (each whole warrant a "Warrant"). Each Warrant entitles the holder to acquire 1 Common Share at CAD$0.40 for 2 years from the date of issuance, subject to an accelerated expiry provision, whereby in the event the closing price of the Company's Common Shares on the Canadian Securities Exchange (the "Exchange") exceeds CAD$0.50 for a period of 20 consecutive trading days, at the Company's election, the period within which the Warrants are exercisable, will be reduced and the holders of the Warrants will be entitled to exercise their Warrants for a period of 30 days commencing on the day the Company provides notice, any outstanding Warrants not exercised during the 30 day period will expire. The Company intends to use the net proceeds from the Offering to obtain its Drug Establishment License, facilitate commercialization, and for general working capital.

All securities issued, including securities issuable on exercise thereof, are subject to a hold period expiring 4 months and 1 day from the date of issuance, in accordance with the rules and policies of the Exchange and applicable Canadian securities laws.

In connection with the final tranche, the Company paid finders' fees of CDN$2,400, equal to 8% of the total proceeds raised by eligible finders.

Optimi Health Corp. is a leading Health Canada licensed psychedelics pharmaceutical manufacturer, specializing in controlled substances such as psilocybin and MDMA, as well as functional mushrooms that focus on the health and wellness markets. Built with the purpose of producing scalable psychedelic formulations for transformational human experiences, the Company's goal is to be the number one trusted, compassionate supplier of safe drug candidates throughout the world. Optimi's products are grown and manufactured at its two facilities comprising a total of 20,000 square feet in Princeton, British Columbia.

This news release contains forward-looking statements and forward-looking information within the meaning of Canadian securities legislation (collectively, "forward-looking statements") that relate to Optimi's current expectations and views of future events. Any statements that express, or involve discussions as to, expectations, beliefs, plans, objectives, assumptions or future events or performance (often, but not always, through the use of words or phrases such as "will likely result," "are expected to," "expects," "will continue," "is anticipated," "anticipates," "believes," "estimated," "intends," "plans," "forecast," "projection," "strategy," "objective," and "outlook") are not historical facts and may be forward-looking statements and may involve estimates, assumptions and uncertainties which could cause actual results or outcomes to differ materially from those expressed in such forward-looking statements. forward-looking statements made in this news release include the proposed use of the proceeds of the Offering. No assurance can be given that these expectations will prove to be correct and such forward-looking statements included in this news release should not be unduly relied upon. These statements speak only as of the date of this news release.