Novamind Expands Psychedelic Medicine Access in Utah

Enhanced clinic enables greater access to ketamine and Spravato^TM treatments

TORONTO, ON / ACCESSWIRE / January 13, 2021 / Novamind Inc. (CSE:NM) ("Novamind" or the "Company"), a mental health company specialized in psychedelic medicine, announces the expansion and optimization of its Cedar Psychiatry clinic in Layton, Utah ("Layton Clinic"), the largest clinic in the Company's network.

The redesigned Layton Clinic now offers improved treatment rooms to accommodate a higher number of ketamine and Spravato^TM (esketamine) treatments. The Layton Clinic expansion comes in response to a significant increase in demand for ketamine therapies across Novamind's mental health clinics. 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 demand for mental health services continues to increase dramatically and we are responding by improving access to our most innovative treatments," said Dr. Reid Robison, Chief Medical Officer and Director of Novamind. "The enhanced clinic layout enables us to serve more clients with evidence-based treatments, including ketamine and future FDA approved psychedelics."

Cedar Psychiatry has gained years of experience in effectively managing the challenges associated with offering its clients access to novel medications such as Spravato^TM and anticipated FDA-approved psychedelics. Cedar Psychiatry's expertise includes inventory logistics, coordinating reimbursement with insurance providers and compliance with each medications' unique Risk Evaluation and Mitigation Strategy (REMS).

"Enhancing service offerings at our Layton clinic goes to the heart of our mission, which is to increase our clients' access to alternative mental health treatments," said Yaron Conforti, CEO and Director of Novamind. "In 2021, Novamind will address the increasing demand for innovative mental health services by growing our network of Cedar Psychiatry clinics within Utah and into new jurisdictions."

As a leading provider of ketamine therapy in the United States, Cedar Psychiatry has administered over 4,000 ketamine sessions and over 1,700 Spravato^TM treatments since its founding in 2016. The Cedar Psychiatry clinic network has four locations in Utah, in Salt Lake City, Layton, Orem and Springville. For more information on the clinics, please visit our website.

About Novamind

Novamind is a leading mental health company enabling safe access to psychedelic medicine through a network of clinics, retreats, and clinical research sites. Novamind provides ketamine-assisted psychotherapy and other novel treatments through its network of Cedar Psychiatry clinics and operates Cedar Clinical Research, a contract research organization specialized in clinical trials and evidence-based research for psychedelic medicine. Both Cedar Psychiatry and Cedar Clinical Research are wholly-owned subsidiaries of Novamind. For more information on how Novamind is enhancing mental wellness and guiding people through their entire healing journey, visit www.novamind.ca.

Contact Information

Novamind
Yaron Conforti, CEO and Director
Telephone: +1 (647) 953 9512
Bill Mitoulas, Investor Relations
Email: bill@novamind.ca

Forward-looking Statements

This news release contains forward-looking statements. All statements other than statements of historical fact included in this release are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's expectations including the risks detailed from time to time in the Company's public disclosure. The reader is cautioned not to place undue reliance on any forward-looking information. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release and the Company will update or revise publicly any of the included forward-looking statements as expressly required by applicable laws.

SOURCE: Novamind Inc.