Numinus Wellness: A Glance At The Structure

The much anticipated launch of Numinus Wellness (TSXV: NUMI) is scheduled to occur tomorrow. Given this tidbit, we thought it would be beneficial to cover the current share structure of the firm given the anticipation of the company going public by many traders.

For those that do not know, Numinus is a cannabis-turned-psychedelics firm that is focused on “multiple industries relating to health, cannabis, and psychedelics.” It’s subsidiary, referred to as Salvation, currently is involved in analytical services, extraction and processing, and therapeutic services. The subsidiary overall is split into four divisions, consisting of Salvation Botanicals, Salvation Bioscience, 1050, and Numinus.

At time of listing, there is to be an aggregate of 93,573,228 common shares outstanding, and 41,549,046 shares reserved for issuance in the form of options and warrants. This includes the 22,980,000 shares issued in connection with the firms $0.25 subscription receipt offering done in connection with the firms go public offering.

In total, the firm has $3.8 million in available funds thanks to the $5.75 million subscription receipt financing, which was offset by Numinus’ outstanding negative cash balance of $2.1 million. Of those available funds, approximately half is going towards general and administrative expenses, while the other half is going towards the firms lab facilities.

In addition to the subscription receipts, the company’s shell has issued the following shares, which were subsequently consolidated on a two for one basis.

• 702,784 warrants at an exercise price of $0.50 for a period of two years
• 6,400,000 units at $0.125 per unit. Each unit has one share and one warrant, with each warrant be exercisable at a price of $0.25 per share for a period of one year
• 83,040 warrants at an exercise price of $0.25 per share for a period of one year
• 2,000,000 units at $0.10 per unit, with each unit having one share and one warrant, and each warrant having an exercise price of $0.15 for a period of one year
• 110,000 warrants with an exercise price of $0.15 for a period of one year

Additionally, Salvation has issued shares and units with exercise prices ranging from $0.25 to $0.75 per share, as seen below.

Numinus Wellness is set to begin trading tomorrow morning on May 20, 2020. It’s anticipated to open north of $0.25 per share.

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Information for this briefing was found via Sedar and Numinus Wellness. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.