Psychedelics company Numinus Wellness Inc. (TSX: NUMI) (OTCQX: NUMIF) is starting to trade on the OTCQX Best Market, expanding its visibility and accessibility to American investors.
Numinus shares will start trading on the exchange at market open on Thursday under the symbol NUMIF. Previously, the firm traded on the OTC Pink market, which is the most speculative tier of over-the-counter exchanges.
To qualify for OTCQX Best, companies have to meet higher financial standards and follow best practices in corporate governance, as well as demonstrate compliance with security laws.
“As we grow our network of Numinus Health wellness clinics to include locations in the U.S. — and build a stronger brand presence in this important market — we will also look to establish an even greater profile with the U.S. investment community,” CEO Payton Nyquvest said in a statement.
In December, the company started trading on the Toronto Stock Exchange.
Numinus develops and delivers mental health care using psychedelic-assisted therapy. The company has recently acquired mindfulness training Mindspace Psychology Services Inc., and the Neurology Centre of Toronto, which offers ketamine-assisted psychotherapy.
In October, the company revealed it had finalized a study design and protocol for a proprietary naturally derived psilocybin extract called NBIO-01. Numinus has also started genetic testing on newly acquired psychedelic mushroom species.
Through amendments to Canada’s Special Access Program, Numinus is listed as a supplier of psilocybin for qualifying patients with severe illnesses.