The Newly Institute Closes its Over-Subscribed Seed Round to Bring Revolutionary Mental Health Treatment to Canada

Calgary, Alberta--(Newsfile Corp. - August 27, 2021) - Aspen Island Therapeutics Inc. DBA the Newly Institute ("The Newly Institute" or the "Company"), Canada's only inter-disciplinary mental health clinical organization that offers intensive outpatient treatment programs and utilizes revolutionary and leading edge therapies, including psychedelic-assisted psychotherapy, is pleased to announce that it has closed an over-subscribed seed round financing of over $3 million (the "Seed Round"). The Seed Round was completed at a $15 million post-money valuation. The funds will be used to further the development of the Company's intensive outpatient mental health clinics across Canada as well as for general corporate purposes.

Arthur H. Kwan, CEO, stated, "We are humbled by the support of our shareholders. With the closing of the Seed Round, the Calgary, Fredericton, and Edmonton clinics are now fully funded. We anticipate opening clinics in quick succession in order to bring our innovative treatment programs to Canadians all across the country."

Dr. Robert L. Tanguay, CMO, adds, "Our rapid access, rapid recovery, and rapid return to work programs are unique in Canada. We are filling a much-needed void in the Canadian mental health, addiction, and chronic pain sectors."

About The Newly Institute

The Newly Institute believes that mental health treatment is in drastic need of a paradigm shift, and our vision was founded to provide long-lasting change within this industry, our community, and with our clients. By fusing a bio-psycho-social-spiritual treatment model with psychedelic-assisted therapies, patients can overcome deeply embedded traumas that prevent them from living fully in their everyday lives. Our programs are based on evidence and data, but our approach is personal because we know it is vital that people feel safe as together, we do the difficult work to achieve wellness it is vital that people feel safe as together we do the difficult work to achieve wellness.

With locations opening in Calgary, AB, Fredericton, NB, Edmonton, AB, as well as several more Canadian cities, The Newly Institute's is on-track to become Canada's largest and premier operator of psychedelic-assisted psychotherapy clinics.

SOURCE: The Newly Institute

For further information: Investor, Media, and General Inquiries: ir@thenewly.ca

Related Links: www.thenewly.ca

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