NICI Quick Take

Salvation Labs is a major Canadian testing and processing company, operating three divisions: Salvation Bioscience (Analytics/Research & Development), Salvation Botanicals (Extraction and Processing), and Salvation Biomass (Hemp & high-grading).

Salvation owns 15,000 square feet of testing and processing facilities. Upon reaching its full capacity, the company will be able to extract 3,000 kilograms of CBD annually. The company also believes it will reach a revenue run rate of $25 million yearly.

Salvation ultimately sees itself becoming involved in medicinal psychedelics, believing this segment to be the “next wave”. It looks forward to being one of the first publicly traded companies actively involved in the psychedelic space that has additional revenue streams coming from its cannabis segment,

The company had originally planned to go public by the end of 2019, but has  addressed a new target listing date by the end of June 2020 through a merger with Numinus Wellness Inc. to bolster efforts to enter the psychedelics industry.

 

IPO Details

Valuation $30.0M
Total Raised $6.8M
NICI Subsector Cultivator, Processor
Website salvationbotanicals.ca