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Numinus Numinus Wellness Inc. Reports Q4 and Year End 2021 Results ● Ended the year with strong cash position of $ 59.2 million • Revenues grew 81 % year - over - year to $ 0.5 million for Q4 2021 ● Revenues grew 72 % year - over - year to $ 1.5 million for FY 2021 Gross profit of $ 31,818 for Q4 2021 Completed the acquisition of the Neurology Centre of Toronto in September 2021 • Two clinical trials about to launch : Phase 1 study for proprietary psilocybe extract and Phase 3 open label extension study partnership with MAPS for MDMA for PTSD Recently received conditional approval to graduate to the TSX ( from the TSX Venture ) All financial results are reported in Canadian dollars unless otherwise stated . VANCOUVER , BC , Dec. 9 , 2021 / CNW / - Numinus Wellness Inc. ( " Numinus " or the " Company " ) ( TSXV : NUMI ) ( OTCQX : NUMIF ) , a mental health care company advancing innovative treatments and safe , evidence - based psychedelic - assisted therapies , today announced its fiscal fourth quarter and full year results for the periods ended August 31 , 2021 . " During the fourth quarter we were focused on building the team , infrastructure , technologies and protocols that will allow us to scale our business over the next several years , " said Payton Nyquvest , Founder and CEO . " We welcomed several new key executives , began our laboratory expansion , and filed a patent for a proprietary rapid production process for psilocybe . " Mr. Nyquvest continued : " Since the quarter ended , we have started to see the benefits of these transformative initiatives , with the expansion of our Ketamine - Assisted Psychotherapy offering , the acquisition of the Neurology Centre of Toronto , the finalization of our Phase 1 clinical trial protocols for our proprietary psilocybe extract , a partnership with MAPS to conduct the Phase 3 extension study of MDMA for PTSD , and the development of new proprietary toxicity and potency testing tools for psilocybin . " Fourth Quarter Financial Highlights : • Cash balance of $ 59.2 million as of August 31 , 2021 • Revenues grew 81.1 % year - over - year to $ 0.5 million in Q4 2021 , due primarily to the acquisition of Mindspace . • Gross profit of $ 31,818 in Q4 2021 , compared to gross loss of $ 158,222 in Q4 2020 • Loss was $ 7.8 million for Q4 2021 , which included a $ 1.6 million non - cash goodwill impairment charge related to the acquisition of Mindspace¹ . 1 The impairment is primarily related to the exclusion of future revenues derived from psychedelic - assisted psychotherapies as these services are currently unregulated . As a result of IFRS standards , the Company must recognize there is uncertainty of realization of such revenues , and the impact on expected revenue growth and profitability to related services , relative to management's forecasts . Fiscal 2021 Financial Highlights : • Revenues grew 71.8 % year - over - year to $ 1.5 million in fiscal 2021 , due primarily to the acquisition of Mindspace . • Gross loss of $ 81,538 , compared to gross profit of $ 88,047 in fiscal 2020 ● Loss was $ 18.8 million for fiscal 2021 , which included a $ 1.6 million non - cash goodwill impairment charge related to the acquisition of Mindspace¹ , compared to a loss of $ 9.6 million in fiscal 2020 . Operational Highlights During and Subsequent to Fourth Quarter 2021 : Numinus Bioscience - Research and Laboratory • Q4 2021 revenue of $ 90,593 , a decrease of 66.7 % from Q4 2020. This is primarily due to the Company ceasing cannabis related activities during the year to dedicate resources towards advancing psychedelic - centered service offerings - including psychedelic analytical testing and contract laboratory services , to align with the Company's strategy and overall objectives . • In June 2021 , the Company filed a provisional patent application with the United States Patent and Trademark Office for a proprietary rapid production process for psilocybe and other psychoactive fungi species . This process dramatically increases the production of therapeutics for use in psychedelic - assisted psychotherapy and leads to standardized psychedelic extracts that are reproducible , scalable , cost - effective and commercially viable . • In July 2021 , Numinus received Health Canada approval for the MAPS - sponsored , single - arm , open - label safety and feasibility study evaluating MDMA - assisted therapy for PTSD . During the quarter , Numinus began the 7,500 ft . expansion of its psychedelics research facility , including the building ●