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Sep 18, 2023

Optimi Health completes harvesting psilocybin mushrooms for Australia

Australia will allow psychiatrists to prescribe psilocybin and MDMA for certain

Australia will allow psychiatrists to prescribe psilocybin and MDMA for certain conditions as of July 1

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Psychedelics producer Optimi Health Corp. (CSE: OPTI) (OTCQX: OPTHF) (FRA: 8BN) has finished harvesting the batch of psychedelic mushrooms for a medical extract that will reach Australian patients this summer.

The Vancouver-based firm announced Wednesday that it harvested 300 kilograms of Psilocybe cubensis shrooms to be used for its GMP medical-grade psilocybin extract being shipped to Mind Medicine Australia.

The mushrooms were harvested at its GMP-certified manufacturing facility in Princeton, British Columbia where it also produces medical-grade MDMA.

As of July 1, Australia will allow psychiatrists to prescribe psilocybin and MDMA for certain conditions after changes in the regulation went through in early February.

Prior to export, the psilocybin mushrooms will be processed for extraction of psilocybin, testing, analysis and validation by a third-party laboratory.

After the analysis is completed, the extract will be prepared and encapsulated at Optimi's Princeton facility where the mushrooms were grown. Once encapsulated, the product will then be shipped to Australia after receiving the necessary permits.

A small sample of our recent Psilocybe cubensis harvest at our #GMP manufacturing facility in Princeton, BC. 300KG in total. Kindly, we ask that these pictures not be used for distribution $OPTI.C $OPTHF #psychedelics #psilocybin #psilocybecubensis pic.twitter.com/gVJ5q2GuWY

— Optimi Health (@Optimi_Health) May 17, 2023

Read more: Mind Medicine Australia receives AUD$1M grant for psychedelic research

Read more: Optimi Health obtains license to produce natural health products

"The evidence-based decision by the TGA to reschedule psilocybin and MDMA is a positive step for the future of mental health and a monumental undertaking in logistics," said Optimi Health CEO Bill Ciprick.

"To be entrusted as the exclusive supplier to Mind Medicine Australia, the largest Australian trainer of psychedelic-assisted therapy practitioners, is both an honour and a tremendous responsibility," he added.

Optimi recently announced it obtained 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.

"I am proud to say that thanks to our unmatched production capacity and with the support of our operations team, Optimi is excited to deliver on our international supply commitments in advance of the rescheduling date," Ciprick said.

Optimi Health stock went up by 2.33 per cent on Wednesday to $0.22 on the Canadian Securities Exchange.

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