Numinous raises $4.6 million to further develop legal psychedelic therapy models

Numinus Wellness Inc., which merged with Nanaimo-based Salvation Botanicals last year, has received Health Canada approval for research intended to standardize extraction of psilocybin, from magic mushrooms. (Photo courtesy Numinus Wellness)

Numinus Wellness, a Vancouver-based company that aims to develop legal, for-profit psychedelic-assisted therapy models in Canada, announced Thursday that is has raised an additional $4.6 million through an oversubscribed sale of shares.

The offering saw 18.4 million shares sold at $0.25 apiece.

Numinus says it intends to use the net proceeds for MDMA and psilocybin to be made available to specific patient groups through compassionate access protocols.

Health Canada has approved Numinus to produce and extract psilocybin from mushrooms, and is also allowed to test, possess, buy and sell MDMA, psilocybin, psilocin, DMT, and mescaline.