The Newly Institute Reports Its Annual General and Special Meeting Voting Results and Provides an Operational Update

December 18, 2023 4:00 PM EST | Source: The Newly Institute Inc.

Calgary, Alberta--(Newsfile Corp. - December 18, 2023) - The Newly Institute ("Newly" or the "Company") is pleased to report the voting results from its Annual General and Special Meeting of shareholders (the "Meeting") held on December 14, 2023.

All of the matters put forward before shareholders for consideration and approval, as set out in the Company's Information Circular dated November 8, 2023 (the "Circular"), were approved by the requisite majority of votes cast at the Meeting.

Specifically, shareholders approved the following matters:

  • setting the size of the board at three directors;
  • re-electing Mr. Arthur Kwan, Mr. Tyler Boake, and Dr. Wayne Young to the board of directors;
  • appointing Zeifmans LLP as auditors of the Company for the ensuing year; and
  • passing a special resolution (the "Amalgamation Resolution") to approve the amalgamation of The Newly Institute Inc. and 2560218 Alberta Ltd. ("Acquireco"), a wholly-owned subsidiary of Newly Holding Corporation ("Holdco"), under the provisions of the Business Corporations Act (Alberta), as more particularly described in the Circular.

The Company is also pleased to provide an operational update. The Newly continues to see significant demand for its programs and services from Worksafe and Workers Compensation Boards across Canada. Referrals to the Company's programs continue to grow as The Newly adds additional team members to increase capacity across all locations.

The Newly is also pleased to announce that it has signed an affiliate agreement with partners in Canadian Veterans Rehabilitation Services ("PCVRS"). The PCVRS program is coordinated and administered on behalf of Veterans Affairs Canada to address barriers to re- establishment in life after service for ill and injured veterans, their eligible spouses/common-law partners, and survivors. The Newly's addition to the network of affiliate providers will give veterans enrolled in the program access to the Company's innovative intensive outpatient mental health programs for improving their health and overall well-being.

Additionally, through a recently awarded WorkSafe British Columbia Post Traumatic Stress Disorder ("PTSD") Program contract, the Newly's Kelowna clinic is expected to open and accept clients from WorkSafeBC on March 1st, 2024, to support Public Safety and Non-Public Safety Personnel.

Along with the contract from WorkSafeBC, opening the first Newly clinic in British Columbia will also allow members of the Royal Canadian Mounted Police's E Division to have access to the Company's comprehensive suite of mental health services and intensive outpatient programs. The Newly is anticipating a subsequent secondary clinic will open in the lower mainland region of British Columbia, which will also provide much needed mental health resources required throughout the province for all first responders.

Finally, The Newly, through Newly Access, is excited to announce that in 2024, in conjunction with its partners, it will be incorporating new technology to allow The Newly to expand its reach and provide continuous access and support for individuals who require care through a digital application.

About The Newly Institute

The Newly is a Calgary, Alberta-based private company that believes mental health treatment needs a drastic paradigm shift. Our vision is to provide long-lasting change within the industry, our community, and with our patients. We have pioneered an intensive bio-psycho-social treatment model that can be supplemented by medically managed, psychedelic-assisted therapies when appropriate. Our medical professionals help patients overcome deeply embedded traumas, addiction, and pain that prevents them from living fully in their everyday lives. While we base our programs on evidence and data, our approach is personal, as it is vital that people feel safe as we tackle the difficult work necessary to achieve wellness. The Company currently operates clinics in Calgary, Edmonton, and Fredericton and will look to expand across Canada in 2024.

Forward-Looking Statements

This news release contains statements that constitute "forward-looking statements." Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements, or developments in the industry to differ materially from the anticipated results, performance or achievements, or developments expressed or implied by such forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects," "plans," "anticipates," "believes," "intends," "estimates," "projects," "potential" and similar expressions, or that events or conditions "will," "would," "may," "could" or "should" occur.

Forward-looking statements in this document include statements regarding the anticipated use of the Company's services and revenues from the WorkSafeBC PTSD Services Agreement, the opening of the Kelowna clinic, the effectiveness of the Company's treatment programs, the incorporation of new technologies into the business through Newly Access, the future financial prospects of the Company and other statements that are not historical facts. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors and risks include, among others: lack of interest in the Company's products or services from its potential clients; inability of the Company to deliver programs which meet the treatment needs of clients;; inability of the Company to successfully raise sufficient capital to fund the operation of its business; and failure of the Company to meet its growth objectives, either in whole or in part.

When relying on forward-looking statements and information to make decisions, investors and others should carefully consider the foregoing factors and risks other uncertainties and potential events. The Company has assumed that the material factors referred to in the previous paragraphs will not cause such forward-looking statements and information to differ materially from actual results or events. However, the list of these factors is not exhaustive and is subject to change and there can be no assurance that such assumptions will reflect the actual outcome of such items or factors. The reader is cautioned not to place undue reliance on any forward-looking information. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this press release are expressly qualified by this cautionary statement. The forward-looking statements contained in this press release are made as of the date of this press release. The Company does not intend, and expressly disclaims any intention or obligation to, update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by law.

For further information contact:
Arthur H. Kwan
Chief Executive Officer
Phone: (825) 540-4042

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