Numinus Wellness Announces Change of Auditor

Rhea-AI Summary

Numinus Wellness (OTCQB: NUMIF) announced an auditor change on October 10, 2025: Davidson & Company LLP resigned and MNP LLP has been engaged as the new independent auditor.

The company stated the audit for the year ended August 31, 2025 is on track to be completed by MNP by the end of November 2025. Prior reports from Davidson for fiscal years 2020–2024 were unmodified and contained no reportable events under National Instrument 51-102. The Audit Committee and Board approved the change. The company remains in the process of lifting a cease trade order and relisting on another exchange.

Positive

• Audit on track for completion by end of November 2025
• Davidson's reports for 2020–2024 were unmodified
• Audit Committee and Board approved the auditor change

Negative

• Davidson resigned as independent auditor
• Company remains subject to a cease trade order awaiting lift
• Company pursuing relisting on another exchange (timing uncertain)

Vancouver, British Columbia--(Newsfile Corp. - October 10, 2025) -  Numinus Wellness Inc. (TSX: NUMI) (OTCQB: NUMIF) ("Numinus" or the "Company"), a mental health care company focused on innovative behavioral health treatments with a focus on safe, evidence-based psychedelic-assisted therapies, announces that Davidson & Company LLP ("Davidson") has resigned as the Company's independent auditor of its own initiative, and that MNP LLP ("MNP") has been engaged as the Company's new independent auditor. Regardless of the change, the audit of the Company's financial statements for the year ended August 31, 2025, is on track to be completed by MNP by the end of November 2025.

The reports of Davidson for all financial years for which it acted as auditor (i.e. for the years ended August 31, 2024, August 31, 2023, August 31, 2022, August 31, 2021 and August 31, 2020) did not contain an adverse opinion or a disclaimer of opinion, nor were they qualified or modified as to uncertainty, audit scope or accounting principles. There were no reportable events (as defined in National Instrument 51-102) in connection with the service of Davidson as auditor of the Company.

The change of independent auditor for the Company has been considered and approved by its Audit Committee and its Board of Directors.

The Company continues to be in the process of lifting the foregoing cease trade order and relisting on another reputable exchange.

For more information:

Investor Contact
Craig MacPhail
invest@numinusnetwork.com

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/269993

FAQ

Why did Numinus (NUMIF) change auditors on October 10, 2025?

Davidson resigned of its own initiative and the company engaged MNP as its new independent auditor.

When will Numinus (NUMIF) complete the 2025 audit?

The company expects MNP to complete the audit for the year ended August 31, 2025 by the end of November 2025.

Were previous Numinus (NUMIF) audits qualified or modified?

No; Davidson's reports for the years ended August 31, 2020–2024 were unmodified and contained no reportable events under NI 51-102.

Has Numinus (NUMIF) received approval for the auditor change?

Yes; the Audit Committee and the Board of Directors considered and approved the change.

Does the auditor change affect Numinus (NUMIF) listing status?

The company said it is continuing efforts to lift a cease trade order and to relist on another exchange; no timing was provided.

Who should investors contact for more information about Numinus (NUMIF)?

Investors can contact Craig MacPhail at invest@numinusnetwork.com for more information.