Numinus CEO Believes Canada Will Follow Australia And Approve Psychedelic Assisted Therapy

On this special yearend Trade To Black Podcast, TDR Founder Shadd Dales spoke with Payton Nyquvest, CEO of Numinus Wellness Inc. (TSE: NUMI) (OTCMKTS: NUMIF) regarding recent company events and those within the sector. Mr. Nyquvest addressed various points of interest pertaining to the company’s strong balance sheet positioning, Health Canada plans to potential follow in Australia’s footsteps regarding psychedelic assisted therapy, and more.

Regarding the gradual shift towards psychedelic assisted therapy as a legitimate treatment in eyes of regulators, Australia raised the bar in news that shocked the sector early last month. It was then that the Therapeutic Goods Administration (TGA) permitted the prescribing of MDMA for the treatment of post-traumatic stress disorder and psilocybin for treatment-resistant depression starting July 1, 2023.

Prescribing will be limited to psychiatrists, given their specialized qualifications and expertise to diagnose and treat patients with serious mental health conditions, with therapies that are not yet well established.

Australia’s maneuver was important because it was viewed as a precedent setting move and benchmark model in which other western nations could follow.

Count Mr. Nyquvest among sector executives that believe Australia’s decision will have far-reaching ramifications. In this latest interview, he told Shadd Dales that he believes Health Canada could approve a similar therapeutic platform—and it may happen within the calendar year:

“I certainly think so. From what we continue to see in Canada, I think there’s key interest in a more broad regulatory change. Alberta has already made that change, which is similar in some ways to what happened in Australia. But I think the pressure’s on Health Canada, and from what we’ve seen, there’s not necessarily a lot of resistance there.”

Click on the embedded link to view more of our new podcast with Numinus Wellness CEO, Payton Nyquvest.

To view our previous interview with Numinus Wellness CEO Payton Nyquvest, click here.


In accordance with an executed agreement between The Dales Report and Numinus Wellness, The Dales Report is engaged with the aforementioned on a 12-month contract for $10,000 per month, with the purpose of publicly disseminating information pertaining to Numinus Wellness via The Dales Report’s media assets, encompassing its website, diverse social media platforms, and YouTube channel. Compensation for The Dales Report services involves the receipt of a predefined monetary consideration, which may, on certain occasions, encompass ordinary shares in instances where monetary compensation was not obtained. In such instances where share compensation was received, The Dales Report hereby asserts the right to engage in the acquisition or disposition of such shares subsequent to the conclusion of the aforementioned contractual period, in compliance with provincial, state, and federal securities regulations. Please refer to the “Disclosures” section below, which is to be interpreted in conjunction with this disclaimer.

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