Psychedelics firm Optimi Health Corp. (CSE: OPTI) (OTCQX: OPTHF) (FRA: 8BN) is set to expand its repertoire of offerings after receiving permission to produce natural health products.
The company announced Tuesday it has received a Natural Health Product Site License, allowing the company to manufacture, package and label natural health products at its Princeton, B.C. production facility. Natural health products include probiotics, herbal remedies, vitamins and minerals, homeopathic medicines, traditional medicines such as Chinese medicines and other products like amino acids and essential fatty acids.
The license expands the company’s ability to produce psychedelic and natural health products on-site for global distribution.
“This license enables the company to further diversify and leverage the potential of its existing manufacturing, processing and packaging capabilities to streamline fulfilment and reduce costs across its supply chain to support continued growth,” Optimi’s CEO Bill Ciprick said in a statement.
Optimi Health is focused on supplying large-scale research and development programs through its 10,000-square-foot facility compliant with good manufacturing practices.
The company is licensed by Health Canada to produce and supply, for clinical research purposes, psychedelic substances such as MDMA and natural GMP-grade psilocybin, as well as natural health product formulations.
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Ciprick said the expanded licence allows Optimi to encapsulate products on site, in addition to manufacturing, packaging and labelling natural health products.
Optimi’s operations are focused on developing and distributing mushroom-derived natural health products, as well as compounds for medical research.
The announcement signals Optimi’s intention to continue expanding and diversifying its operations, Ciprick said. Further licensing will be required for the company to produce and distribute natural health products for commercial retail sales.
Last week, the company announced it secured a $1.2 million psilocybin supply agreement with a private client that will be using the company’s mushrooms for clinical research purposes.
Optimi stock went up by 4.26 per cent on Wednesday to $0.24 on the Canadian Securities Exchange.