OPTH · Optimi Health Corp.

Summary

Optimi Health Corp. is a Canadian GMP-compliant pharmaceutical drug manufacturer licensed by Health Canada for handling controlled substances, specializing in MDMA and botanical psilocybin products. It operates two 10,000 sq ft vertically integrated facilities in Princeton, BC, under a Drug Establishment Licence (DEL), Dealer’s Licence (DL), and Precursor Licence, enabling production, export, and supply to markets like Australia’s Authorised Prescribers Scheme for PTSD and TRD via SAP in Canada. Products are in Phase 2 trials in Canada and Israel; US access restricted as Schedule I. FY2025 revenue was C$426k (up from C$390k FY2024), but net loss widened to C$3.7M from C$6.0M amid operating losses and C$27.2M accumulated deficit; cash at Dec 31, 2025 was C$492k. Going public via F-1/A filed Mar 24, 2026, offering 2.5M common shares (up to 2.875M with over-allotment) at US$6-8/share, raising ~US$12.3-14.3M net proceeds. Use: 25.5% scale production/distribution, 16% expand to Israel/US, 58.5% working capital. Post-offering shares: 5.73M (6.10M full). Listing Nasdaq 'OPTH'. Investment thesis: Early-mover in regulated psychedelics with GMP edge for commercial supply amid regulatory shifts, targeting US/Israel expansion despite risks like license loss and losses.

Key takeaways

• Canadian GMP manufacturer of MDMA/psilocybin with DEL/DL licenses; supplies Australia Authorised Prescribers Scheme (PTSD/TRD) and Canada SAP.
• FY2025 revenue C$426k (71% drug products); net loss C$3.7M; accumulated deficit C$27.2M; cash C$492k at Dec 31, 2025.
• Offering 2.5M shares (375k over-allotment) at US$6-8/share; net proceeds ~US$12.3M (US$14.3M full).
• Use of proceeds: 25.5% scale production (US$3.5M), 16% Israel/US expansion (US$2.2M), 58.5% working capital (US$8M).
• Post-offering shares 5.73M; Nasdaq 'OPTH' listing; 1:30 reverse split effective pre-effectiveness.
• Key risks: License maintenance, regulatory changes (US Schedule I), operating losses, limited history.
• Top holders pre-offering: Dane Stevens 14%, John James Wilson 10%, Edward/Diana Safarik 10.1%.