• Observational studies to focus on patients with addiction and end-of-life distress pending formal approval and permitting from Thai health authorities

Vancouver, British Columbia--(Newsfile Corp. - July 23, 2024) - Optimi Health Corp. (CSE: OPTI) (OTCQX: OPTHF) (FSE: 8BN) ("Optimi" or the "Company"), a GMP-approved, Health Canada licensed psychedelics pharmaceutical manufacturer specializing in botanical psilocybin and MDMA, is pleased to announce a strategic supply partnership and Letter of Intent with PsiloThai, a leading patient advocacy group registered in Thailand. This agreement marks a significant milestone as Optimi becomes the first psychedelics manufacturer to seek approval for its products to enter the Asian medical market for use in observational studies in patients with addiction and end-of-life distress.

This significant step follows Thailand's Ministry of Public Health's recent regulatory change to permit psilocybin for medical treatment, research, and clinical trials. Permission for the use of the two Category 5 drugs was announced in a directive published earlier this year. The directive, referring to psilocybin mushrooms and signed by Public Health Minister Cholnan Srikaew, took effect on April 26, 2024.

Bill Ciprick, CEO of Optimi, expressed enthusiasm about this new venture: "Optimi is excited to validate our GMP natural psilocybin extract capsules further with the support of PsiloThai. This partnership not only opens new avenues for research but also strengthens our commitment to advancing mental health treatments around the world. We are honored to be embarking on this first-of-its-kind journey in Thailand."

Charlie Solares, Founder of PsiloThai, commented, "This collaboration with Optimi provides a unique opportunity to explore the therapeutic potential of psilocybin in treating complex conditions such as addiction and end-of-life distress. We are optimistic about the positive outcomes these studies can yield. Partnering directly with a Health Canada licensed entity like Optimi allows us to leverage their expertise in cultivation, compliance, and GMP drug manufacturing to ensure the highest quality and standards for our patients."

The observational studies will help patients currently in hospital care and will be conducted in conjunction with Government Hospitals and Rajamangala University. Optimi will work closely with PsiloThai to secure the necessary import certificates to fulfill the supply requirements in the coming months, with the studies officially commencing upon formal approval from Thai Health Authorities.

Key Benefits and Impact:

• Enhanced Research Opportunities: The partnership with PsiloThai allows Optimi to tap into the extensive research capabilities of Thai academic institutions, healthcare facilities, and patient base.
• Broader Reach: Entering the Asian market enables Optimi to expand its footprint and bring its innovative treatments to a larger and more diverse population.
• Regulatory Advancements: The Kingdom of Thailand's progressive stance on allowing psilocybin use for research and trials sets a precedent for other nations, potentially paving the way for broader acceptance and use of psychedelics in medical treatments throughout Asia.

Optimi currently has a similar supply agreement in place with Mind Medicine Australia, an internationally renowned patient advocacy group that successfully advocated for the Therapeutic Goods Administration (TGA) to reclassify MDMA and psilocybin from Schedule 9 to Schedule 8 in 2023. Last month, Health Canada approved three export permits, marking Optimi's commercial entry into Australia with its GMP psychedelic medicines for eligible patients suffering from PTSD and Treatment-Resistant Depression.

The Company also announces it has engaged Fairfax Partners Inc. ("Fairfax"), an arm's length party, to provide social media marketing. The initial term is for three months for a fee of $43,900, with an option to continue month to month at a rate of $13,000. To the knowledge of the Company, Fairfax does not currently hold a security position in Optimi.

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ABOUT OPTIMI (CSE: OPTI) (OTCQX: OPTHF) (FSE: 8BN)

Optimi is the only psychedelics pharmaceutical manufacturer in Canada with both a Controlled Drugs and Substances Dealer's Licence and a Drug Establishment Licence (DEL). Specializing in controlled substances such as botanical psilocybin and MDMA, Optimi is dedicated to supplying safe, top-tier GMP-grade products and API to researchers, drug developers, and authorized patients in markets across the world.

Optimi's leadership is reinforced by state-of-the-art, GMP-compliant cultivation, formulation, and analytical facilities, purpose-built to develop proprietary formulations that meet the highest standards of quality and responsible sourcing. Located in Princeton, British Columbia, the two facilities total 20,000 square feet where all products are grown and manufactured in-house under strict GACP and GMP conditions, ensuring unparalleled quality and reliability. The Company is committed to being the most trusted and compassionate supplier of safe psychedelic drug candidates worldwide.

FORWARD‐LOOKING STATEMENTS

This news release contains forward-looking statements and forward-looking information within the meaning of Canadian securities legislation (collectively, "forward-looking statements") that relate to Optimi's current expectations and views of future events. Any statements that express, or involve discussions as to, expectations, beliefs, plans, objectives, assumptions or future events or performance (often, but not always, through the use of words or phrases such as "will likely result," "are expected to," "expects," "will continue," "is anticipated," "anticipates," "believes," "estimated," "intends," "plans," "forecast," "projection," "strategy," "objective," and "outlook") are not historical facts and may be forward-looking statements and may involve estimates, assumptions and uncertainties which could cause actual results or outcomes to differ materially from those expressed in such forward-looking statements. No assurance can be given that these expectations will prove to be correct and such forward-looking statements included in this news release should not be unduly relied upon. These statements speak only as of the date of this news release.

Forward-looking statements are based on a number of assumptions and are subject to a number of risks and uncertainties, many of which are beyond Optimi's control, which could cause actual results and events to differ materially from those that are disclosed in or implied by such forward-looking statements. Optimi undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by law. New factors emerge from time to time, and it is not possible for Optimi to predict all of them or assess the impact of each such factor or the extent to which any factor, or combination of factors, may cause results to differ materially from those contained in any forward-looking statement. Any forward-looking statements contained in this news release are expressly qualified in their entirety by this cautionary statement.

Neither the Canadian Securities Exchange nor the Canadian Investment Regulatory Organization accepts responsibility for the adequacy or accuracy of this release.