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.
As the founder of The Deep Dive, Jay is focused on all aspects of the firm. This includes operations, as well as acting as the primary writer for The Deep Dive’s stock analysis. In addition to The Deep Dive, Jay performs freelance writing for a number of firms and has been published on Stockhouse.com and CannaInvestor Magazine among others.
