VANCOUVER, BC / ACCESSWIRE / December 2, 2020 / Core One Labs Inc. (CSE:COOL)(OTCQX:CLABF)(FSE:LD62)(WKN:A14XHT) (the "Company") is pleased to announce that it has received approval from the Canadian Securities Exchange (the "CSE") to resume trading at the market open on Thursday, December 3, 2020 under the existing ticker symbol "COOL". The Company has undergone a re-qualification for listing on the CSE following its acquisition of interests in Rejuva Alternative Medicine Research Centre Inc. and Shahcor Health Services Inc. on July 9, 2020. The CSE deemed these acquisitions to be a "fundamental change" in the business of the Company and required the Company to submit a new listing statement with the CSE. A copy of the Company's listing statement describing these acquisitions is available for review on the Company's SEDAR profile.
Joel Shacker, the Company's CEO, stated "This is an exciting time for Core One, and we look forward to the Company's shares being traded on the Canadian Securities Exchange. The acquisition of Rejuva and Shahcor is the first step towards Core One's goal of becoming a Canadian pioneer in the areas of research, development and technological advancement in psychedelic-derived treatments for mental health disorders."
About Core One Labs Inc.
Core One Labs Inc. is a research and technology company focused in life sciences and on bringing psychedelic medicines to market through novel delivery systems and psychedelic assisted psychotherapy. The Company has developed a patent pending thin film oral strip (the "technology") which dissolves instantly when placed in the mouth and delivers organic molecules in precise quantities to the bloodstream, maintaining excellent bioavailability. With this technology, the Company intends to further develop its IP technology to focus on delivering psychedelic molecules with an initial focus on psilocybin. Core One also holds an interest in walk-in medical clinics which maintain a database of over 200,000 patients combined. Through research and development in these clinics, including the integration of its intellectual property related to psychedelic treatments and novel drug therapies, the Company intends to work towards regulatory approval for research that advances psychedelic-derived treatments for mental health disorders.
Core One Labs Inc.
Chief Executive Officer
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Cautionary Disclaimer Statement:
The Canadian Securities Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this news release.
Information set forth in this news release contains forward-looking statements that are based on assumptions as of the date of this news release. These statements reflect management's current estimates, beliefs, intentions and expectations. They are not guarantees of future performance. The Company cautions that all forward looking statements are inherently uncertain and that actual performance may be affected by a number of material factors, many of which are beyond the Company's control. Such factors include, among other things: risks and uncertainties relating to the Company's limited operating history and the need to comply with environmental and governmental regulations. In addition, marijuana remains a Schedule I drug under the United States Controlled Substances Act of 1970. Although Congress has prohibited the US Justice Department from spending federal funds to interfere with the implementation of state medical marijuana laws, this prohibition must be renewed each year to remain in effect. Accordingly, actual and future events, conditions and results may differ materially from the estimates, beliefs, intentions and expectations expressed or implied in the forward-looking information. Except as required under applicable securities legislation, the Company undertakes no obligation to publicly update or revise forward-looking information. In addition, psilocybin is currently a Schedule III drug under the Controlled Drugs and Substances Act (Canada) and it is a criminal offence to possess substances under the Controlled Drugs and Substances Act (Canada) without a prescription. Health Canada has not approved psilocybin as a drug for any indication. Core One Labs Inc. does not have any direct or indirect involvement with illegal selling, production, or distribution of psychedelic substances in jurisdictions in which it operates. While Core One Labs Inc. believes psychedelic substances can be used to treat certain medical conditions, it does not advocate for the legalization of psychedelics substances for recreational use. Core One Labs Inc. does not deal with psychedelic substances, except within laboratory and clinical trial settings conducted within approved regulatory frameworks.
SOURCE: Core One Labs Inc.