Payton Nyquvest Speaks About Numinus’ Post-Raise Growth Opportunities

Numinus Wellness Inc. (TSXV: NUMI) CEO Payton Nyquvest joined TDR’s Shadd Dales to talk about his company’s post-raise plans, opportunities pertaining to Canada’s expanding Special Access Program, and more. Numinus is a global leader in developing safe, accessible and evidence-based use of psychedelic-assisted psychotherapies.

As Payton puts it, Numinus’ recent $40 million bought deal offering gives it enough latitude in which to execute its aggressive growth plan for 2021. With new amendments received under Canada’s Controlled Drugs and Substances Act, it dramatically expands the work Numinus can do with an growing menu of psychedelics, including, for the first time, ketamine and lysergic acid diethylamide (LSD).

Along with the recent expansion of Numinus’ psychedelics research laboratory by late 2021, the extra capital gives them the optionality to properly scale out as Canada’s Special Access Program inevitably expands.

Beyond the recent acquisition of Mindspace Psychology Services—which adds three revenue-generating physical locations in Montreal—Numinus is collaborating with MAPS to ensure the proper protocol and clinician standards are developed in order to build the foundation for future growth. This encompassing “implementation science” approach involves critical backend development such as the training of practitioners, the utilization of their protocol, setting up access to controlled substances and more.

As Payton Nyquvest explains it, opening up indiscriminate amounts of physical locations makes little sense if you don’t have the proper infrastructure in place to support expansion:

“The biggest bottleneck in this space is trained practitioners. You see this sort of space with how many clinics are you opening and stuff like that and that’s great. You know, we can go and open a hundred clinics tomorrow, but if don’t have the people to actually carry out the treatment, it’s a huge waste of resources and a big burn rate to tack-on.”

Full interview is embedded for your listening convenience.


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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