Novamind Inc.: Novamind Completes Acquisition in Arizona ()

IRW-PRESS: Novamind Inc.: Novamind completes acquisition in Arizona

TORONTO, ONTARIO / January 18, 2022 / Novamind Inc. (CSE: NM | OTCQB: NVMDF | FSE: HN2) (Novamind or the Company), a leading mental health company specializing in psychedelic medicine, announces with reference to its press release dated December 23, 2021 ( agreement-to-takeover-of-clinics-in-arizona_63355.html) that the takeover (acquisition) of Arizona-based Foundations for Change, Inc. (Foundations). Foundations is a mental health practice specializing in ketamine-assisted psychotherapy.

We are very pleased to welcome the Foundations team, says Yaron Conforti, CEO and a director of Novamind. The acquisition is a great opportunity for us at Novamind to expand the reach of our clinic network and enter a new market in Arizona with our innovative mental health care model.

With the closing of the acquisition transaction, Foundations founder Jeff Edelman, MSN, APRN, PMHNP-BC, PMHCNS-BC, will assume the role of medical director at the Peoria and Phoenix clinic sites.

Mr. Edelman comments: Our combination with Novamind is the right addition to our team and aligns with our mission to provide innovative and compassionate mental health care. I want to thank our patients, partners and community for their continued support over the years. We look forward to integrating our team and operations into Novamind as we continue to care for more and more patients, and to benefit from the profound expertise and excellent infrastructure of this company.

In connection with the Acquisition, pursuant to the terms of various debt settlement agreements entered into with certain Foundations debt holders (the Debt Holders), the Company held 441,261 common shares of the Company’s common stock (the “Shares”) at a proposed price per share of a value of $0.468 equivalent to CAD per share. The shares are subject to a statutory hold period expiring on May 18, 2022, in accordance with applicable Canadian securities laws and the articles of incorporation of the Canadian Securities Exchange. The Company has also paid the Noteholders a total of $336,955 in cash. Please see the Company’s press release dated December 23, 2021 for further details on the consideration to be paid by the Company in connection with the acquisition transaction.

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About Novamind

Novamind is a market leader in the mental health field, providing safe access to psychedelic medicines through a network of clinics and clinical research sites. Novamind, through its network of integrative mental health clinics, is a provider of ketamine-assisted psychotherapy and other novel treatments. The company also operates a full-service contract research organization specializing in clinical trials and evidence-based research for psychedelic medicine. For more information on how Novamind improves mental well-being and supports people throughout their healing journey, visit

contact details

Yaron Conforti, CEO and Director

Tel: +1 (647) 953 9512

Samantha DeLenardo, VP, Communications


Investor Relations


Forward-Looking Statements

This press release contains forward-looking statements. All statements in this release that are not based on historical facts are forward-looking statements and involve risks and uncertainties. There can be no guarantee that such statements will prove to be true. Actual results and future events could differ materially from such statements. Important factors that could cause actual results to differ materially from the Company’s expectations include the failure to satisfy the conditions to closing of the transaction, including the failure to obtain required third party and regulatory approvals, and other risks arising from Featured in the Company’s public announcements from time to time. As a result, there can be no guarantee that the transaction will be completed as proposed or at all. Readers are cautioned that forward-looking information is not reliable. The forward-looking statements contained in this press release are expressly qualified by this cautionary statement. The forward-looking statements contained in this press release are made as of the date of this press release. The forward-looking statements contained in this press release are made as of the date of this press release, and the Company will not update or publicly revise the forward-looking statements contained herein unless expressly required to do so by applicable law.


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The Company’s securities referred to in this press release have not been and will not be registered under the United States Securities Act of 1933, as amended (the “US Securities Act”) or any state securities laws. Accordingly, the Company’s securities may not be offered or sold in the United States unless registered under the US Securities Act and applicable state securities laws or pursuant to an exemption from the registration requirements of the US Securities Act and applicable state securities laws. This press release does not constitute an offer to sell or a solicitation of an offer to buy any securities of the Company in any country in which such offer, solicitation or sale would be unlawful.

Neither the Canadian Securities Exchange nor its regulatory service provider accepts responsibility for the adequacy or accuracy of this press release.

The source language (usually English) in which the original text is published is the official, authorized and legal version. This translation is included for better understanding. The German language version can be shortened or summarized. No responsibility or liability is accepted for the content, correctness, adequacy or accuracy of this translation. From the translator’s point of view, the report does not constitute a buy or sell recommendation! Please note the original English notification on,, or on the company website!

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