Numinus Wellness Walks From Acquisition Of MedBright AI

Numinus Wellness (TSX: NUMI) has walked away from a plan to add artificial intelligence assets to its portfolio. The firm indicated quietly this morning that it has terminated a letter of intent to acquire MedBright AI Investments (CSE: MBAI).

The transaction, originally announced on June 20, was set to see Numinus acquire the AI-focused company in an effort to “AI-enable mental health clinics” across the United States. The acquisition was also to involve a name change for Numinus, whom was to change their name to Numinus Intelligence.

READ: Numinus Wellness To Acquire MedBright AI In Bid To Add Artificial Intelligence To Portfolio

The acquisition was set to also add cash and securities worth over $5.0 million to Numinus’ balance sheet, while at the time of announcement a transition team was said to have been already formed to cut costs, preserve cash, and increase revenue.

Numinus Wellness last traded at $0.035 on the TSX.


Information for this briefing was found via 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.

Leave a Reply

Video Articles

We’re At The Start of a Great Silver Boom | Ross McElroy & Andy Bowering – Apollo Silver Corp

Equinox Gold Q1 Earnings: When Everything Goes Wrong

SSR Mining Q1 Earnings: Costs Continue To Climb

Recommended

Sterling Metals Hits 0.21% Copper Over 482.8 Metres In First Drilling At Soo Copper project

First Majestic Makes Second Major Discovery At Santa Elena In Just A Year

Related News

Numinus Wellness To Undertake Phase 1 Study Of Psilocybin Extract

Numinus Wellness (TSXV: NUMI) is undertaking further studies of its psilocybin products. The company this...

Monday, April 26, 2021, 07:10:35 AM

Numinus Wellness Successfully Extracts Psilocybin From Mushrooms

Numinus Wellness (TSXV: NUMI) this morning announced that it has completed the extraction of psilocybe...

Thursday, December 17, 2020, 08:26:09 AM

Numinus Wellness’ Study On MDMA-Assisted Therapy For PTSD Gets Health Canada Nod

Numinus Wellness Inc. (TSXV: NUMI) announced today that it has secured approval from Health Canada...

Monday, July 12, 2021, 09:49:00 AM

Numinus Wellness: Hot Damn! I’ve Never Invested In A Psychedelics Company Before!

The marijuana trade hadn’t even fully fallen apart yet when the first mushroom companies started...

Sunday, December 6, 2020, 09:00:00 AM

Numinus Wellness Announces Expansion To Research Lab

Numinus Wellness (TSXV: NUMI) has expansion on its mind. The company this morning announced that...

Tuesday, March 9, 2021, 08:18:23 AM