MindBeacon Signs New SOW with Government of Ontario

TORONTO, March 31, 2021 /CNW/ - MindBeacon Holdings Inc. ("MindBeacon" or the "Company") (TSX: MBCN), a company specializing in the delivery of a comprehensive continuum of mental healthcare, using digital technologies, announced today that it has signed a new Statement of Work ("SOW") with Ontario Health (a Crown agency of the Government of Ontario).  The new SOW extends our previous agreement and is effective November 17, 2020 through December 10, 2022.  The SOW provides for additional funding up to approximately $6.26 million.

"We are very excited to formalize the SOW with the Government of Ontario which allows us to continue expanding virtual mental health services to support Ontarians" said Sam Duboc, Chair & CEO of MindBeacon. "We are proud to continue providing much needed mental health services to people across Ontario at a time when stress and anxiety are at record levels. With over 50% of MindBeacon users accessing support outside of regular office hours and many saying they have never accessed therapy before, we are improving health equity by reaching individuals who either couldn't or wouldn't access traditional therapy because of barriers like stigma, affordability and accessibility."

Mr. Duboc further noted, "At MindBeacon, we are highly focused on expanding our continuum of care, creating what we believe is the most robust mental healthcare offering in Canada. Our enhanced Stronger Minds platform will launch in April and will be offered free of charge to all Canadians.   Our Peer-to-Peer support will allow users to engage with others experiencing similar issues.  In addition, our new Chat Therapy will further lower the barriers to mental healthcare.  We are driving down the cost of delivering effective mental health treatment ensuring that more Canadians will be able to access the help they need to more fully enjoy their lives."

ABOUT MINDBEACON HOLDINGS, INC.

MindBeacon is developing a continuum of mental healthcare that includes self-guided psychoeducational and wellness content, Therapist Guided Programs and Live Therapy Sessions all offered virtually through their secure platform. As one of the first commercially available, digitally-native platforms to offer therapist-assisted internet-based Cognitive Behavioural Therapy in Canada, MindBeacon's professional service is designed around end users – their health, their way. Working with employers, insurance carriers and government ministries, MindBeacon's services are accessible, available, affordable and, most importantly, proven to be effective. MindBeacon is changing the therapy landscape by making professional care available to every Canadian, no matter when, where and how they choose to access it.

SOURCE MindBeacon Holdings Inc.

MINDBEACON CONTACT INFORMATION, Investor relations, David Galison, (p): [phone], (e): [email protected]; Media Relations, (e): [email protected]