IRW-News: Novamind Inc .: Novamind signs letter of intent to acquire two mental health clinics in Arizona ()

IRW-PRESS: Novamind Inc .: Novamind signs letter of intent to acquire two mental health clinics in Arizona

TORONTO, ONTARIO / November 16, 2021 / Novamind Inc. (CSE: NM | OTCQB: NVMDF | FWB: HN2) (Novamind or the Company), a leading mental health company specializing in psychedelic medicine, today announced that signed a Letter of Intent (LOI) to acquire Foundations for Change, an Arizona-based company with two mental health clinics that specialize in ketamine-based psychotherapy (the Arizona acquisition). With the acquisition in Arizona, Novamind acquires the first clinical care facilities outside of the US state of Utah. This marks the first in a series of transactions designed to grow the company and expand the company’s clinic network both in the United States and internationally.

Foundations for Change was founded in 2017 by Jeff Edelman, a Yale University graduate. Mr. Edelman is a dual licensed nurse in family psychiatry and mental health and a clinical nurse in child and adolescent psychiatry and mental health. Mr. Edelman’s practice is located in the northwest of Phoenix. New types of therapy are offered here, such as transcranial magnetic stimulation (TMS), ketamine-based psychotherapy and treatment with Spravato. Mr. Edelman has 17 years of executive experience and offers children, adolescents, adults, military personnel, first aiders and their families the best possible care.

With this acquisition, we are taking a fascinating step further in our vision of improving access to psychedelic medicine in the United States, says Yaron Conforti, CEO and a director of Novamind. Mr. Edelman has established a renowned practice in Arizona and both day clinics will benefit from Novamind’s operational and administrative support as well as modern clinical resources.

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The acquisition of the Arizona clinics is expected to be completed in early 2022.

About Novamind

Novamind is a leader in mental health providing safe access to psychedelic medicines through a network of clinics and clinical research sites. Novamind provides ketamine-based psychotherapy and other novel treatments through its network of Cedar Psychiatry Clinics. The company also operates Cedar Clinical Research, a contract research organization specializing in clinical trials and evidence-based research for psychedelic medicine. Both Cedar Psychiatry and Cedar Clinical Research are wholly owned subsidiaries of Novamind. For more information on how Novamind improves mental wellbeing and accompanies people throughout their healing process, visit novamind.ca.

contact details

Novamind

Yaron Conforti, CEO & Director

Tel: +1 (647) 953 9512

Samantha DeLenardo, VP, Communications

Email: media@novamind.ca

Bill Mitoulas, Investor Relations

Email: bill@novamind.ca

Forward-Looking Statements

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