Prior to joining Novamind, Pierre served as the Chief Operating Officer of LifeLabs, a diagnostic laboratory services company he helped to scale into an industry leader with 5,700 employees and 370 patient access sites in Canada. An accomplished senior executive and leader, he brings a wealth of experience managing large and complex healthcare organizations. Bou-Mansour assumes the responsibility for ensuring operational excellence as Novamind develops its network of clinics, retreats, and research sites. On January 19 th, 2021, Novamind announced the expansion of its leadership team with the appointment of Pierre Bou-Mansour, P.Eng., to the role of Chief Operating Officer. In 2020 alone, the Cedar Psychiatry clinic network facilitated over 20,000 client visits, an increase of over 100 percent compared to the same period in 2019. The Layton Clinic expansion comes in response to a significant increase in demand for ketamine therapies across Novamind’s mental health clinics. The redesigned Layton Clinic now offers improved treatment rooms to accommodate a higher number of ketamine and Spravato™ treatments. On January 13 th, 2021, the Company announced the expansion and optimization of its Layton, Utah clinic. These milestones position Novamind as one of North America’s top providers of ketamine-assisted psychotherapy and Spravato™. On January 28 th, 2021, Novamind announced that it had reached two significant milestones at its Cedar Psychiatry mental health clinics: administering over 5,000 ketamine treatments since its opening in 2016, and administering over 2,000 Spravato™ treatments since the product became available in 2019. In the near future, Novamind intends to apply to list its common shares on the OTCQB Market, an established marketplace in the United States for promising, innovative companies. The Company announced on February 19 th, 2021, that its common shares commenced trading under the symbol “NVMDF” on the OTC Market. Less than two months after going public on the CSE, Novamind achieved the milestone of being included in the underlying index of the Horizons Psychedelic Stock Index ETF (NEO: PSYK) through a “Fast Entry” category, further increasing its profile with retail and institutional investors in the psychedelic medicine sector. On January 5 th, 2021, Novamind began trading on the CSE under the stock symbol “NM”. With its strong cash position, Novamind is well-positioned to execute on its growth strategy to expand its network of mental health clinics, retreats and clinical research sites. The company ended the quarter with a cash balance of $10,868,742.
The funds were made available to the Company upon the completion of its reverse takeover (“RTO”) transaction and conditional listing approval from the Canadian Securities Exchange (“CSE”). Novamind successfully closed an oversubscribed $10,000,000 financing on November 23 rd, 2020. All results are reported under International Financial Reporting Standards (“IFRS”) and in Canadian dollars, unless otherwise specified.įiscal Q2 2021 Highlights and Subsequent Developments The Company’s fiscal year-end is June 30 th. TORONTO, ON / ACCESSWIRE / Ma/ Novamind Inc. (CSE:NM)(OTC PINK:NVMDF) (“Novamind” or “the Company”), a leading mental health company specialized in psychedelic medicine, today reported its fiscal second quarter results for the three months ended Decem(“ Fiscal Q2 2021″).
$1.29 million in fiscal second quarter revenueĬlinics see continued surge in demand for mental health services