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Mydecine Announces Partnership with LeadGen Labs

Published at globenewswire.com

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DENVER, May 05, 2021 (GLOBE NEWSWIRE) — Mydecine Innovations Group (NEO: MYCO) (OTC: MYCOF) (FSE: 0NFA) (“Mydecine”or the “Company’), an emerging biopharma and life sciences company committed to the research, development, and acceptance of alternative nature-sourced medicine for mainstream use, has announced a partnership with LeadGen Labs, a custom synthesis and contract research organization, to support Mydecine’s novel psychedelic drug development efforts and increase the number of novel molecules the Company can synthesize concurrently.

Following the announcement of the Company’s four initial drug candidates, Mydecine and LeadGen Labs will work to synthesize novel psychedelic molecules. LeadGen Labs, a full-service contract research organization, providing expertise in custom synthesis and route design, will work with the Mydecine research and drug design team to target these novel molecular entities and enhanced formulations, including effective dosages and safety.

“We are experiencing a renaissance of medical interest in the classical psychedelics and Mydecine is working to iteratively improve and better understand the potential therapeutic benefits of these known and unknown molecules,” said Rob Roscow, Mydecine Chief Science Officer. “We are excited to begin production on these novel patent pending molecules that hold the promise of improving the therapeutic use of psychedelics through enhanced safety and dosage control. Additionally, the initial batch of novel molecules we will research represent just the first of numerous families of molecules, representing potentially dozens of patentable compounds.”

“Complementary to Mydecine’s work with the University of Alberta and Applied Pharmaceutical Innovation (API), the partnership with LeadGen Labs expands our existing research infrastructure and allows for more rapid scaling of Mydecine’s drug development pipeline and patent strategy,” added Josh Bartch, CEO of Mydecine. “With the ability to swiftly synthesize and analyze these various families of novel molecules through both partnerships, we are in a strong position to support the latter stages of our drug development pipeline and build upon our intellectual property portfolio that is focused on building upon the value currently present in natural molecules with patentable safety features that will enhance therapy, reduce anxiety and maximize delivery mechanisms.”

About Mydecine Innovations Group

‍Mydecine Innovations Group™ (NEO:MYCO)(OTC:MYCOF) (FSE:0NFA) is an emerging biotech and life sciences company dedicated to developing and commercializing innovative solutions for treating mental health problems and enhancing vitality. The company’s world-renowned medical and scientific advisory board is building out a robust R&D pipeline of nature-sourced psychedelic-assisted therapeutics, novel compounds, therapy protocols, and unique delivery systems. Mydecine has exclusive access to a full cGMP certified pharmaceutical manufacturing facility with the ability to import/export, cultivate, extract/isolate, and analyze active mushroom compounds with full government approval through Health Canada. Mydecine also operates out of a state-of-the-art mycology lab in Denver, CO to focus on genetic research for scaling commercial cultivation of rare (non-psychedelic) medicinal mushrooms.

At the heart of Mydecine’s core philosophy is that psychedelic-assisted psychotherapy will continue to gain acceptance in the medical community with many of the world’s best accredited research organizations demonstrating its remarkable clinical effectiveness. Mydecine recognizes the responsibility associated with psychedelic-assisted therapy and will continue to position itself as a long-term leader across the spectrum of clinical trials, research, technology, and global supply. Mydecine has also successfully completed multiple acquisitions since its inception.

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For further information about Mydecine Innovations Group, Inc., please visit the Company’s profile on SEDAR at www.sedar.com

This news release contains forward-looking information within the meaning of Canadian securities laws regarding the Company and its business, which relate to future events or future performance and reflect management’s current expectations and assumptions. Often but not always, forward-looking information can be identified by the use of words such as “expect”, “intends”, “anticipated”,“ believes” or variations (including negative variations) of such words and phrases, or state that certain actions, events or results “may”, “could”, “would” or “will” be taken, occur or be achieved. Such forward-looking statements reflect management’s current beliefs and are based on assumptions made by and information currently available to the Company. Readers are cautioned that these forward-looking statements are neither promises nor guarantees, and are subject to risks and uncertainties that may cause future results to differ materially from those expected including, without limitation, risks regarding the COVID-19 pandemic, the availability and continuity of financing, the ability of the Company to adequately protect and enforce its intellectual property, the Company’s ability to bring its products to commercial production, continued growth of the global adaptive pathway medicine, natural health products and digital health industries, and the risks presented by the highly regulated and competitive market concerning the development, production, sale and use of the Company’s products. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. These forward-looking statements are made as of the date hereof and the Company does not assume any obligation to update or revise them to reflect new events or circumstances save as required under applicable securities legislation.

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Core One Labs Unaware of Any Material Change that Would Account for Significant Share Price Depreciation

Vancouver, British Columbia, Canada – May 4, 2021 – Core One Labs Inc. (CSE: COOL), (OTC: CLABF), (Frankfurt: LD62, WKN: A2P8K3) (the “Company” or “Core One”) wishes to confirm that management is unaware of any material change in the Company’s operations that would account for the recent and significant share price depreciation in the Company’s stock.

The Company has been informed by its advisers that sophisticated techniques including spoofing, layering, wash trading, manipulation through multiple brokerage houses and the use of aggressive algorithms targeting the bid/offer designed to give the appearance of weakness in the Company’s shares have been utilized in trading in the Company’s securities.

Smaller market capitalization companies have been frequent targets of predatory short selling. Experts say that Canada’s lax regulations around the practice have allowed abusive forms of short selling to flourish in the Canadian markets. Ontario’s capital markets modernization task force has targeted abusive short selling in its final report, which recommended measures that specifically target various forms of short selling, including naked short selling. The Company hopes that amendments to relevant legislation is implemented soon to provide regulators with the necessary authority to prevent these predatory selling techniques.

About Core One Labs Inc.

Core One is a biotechnology research and technology life sciences enterprise focused on bringing psychedelic medicines to market through novel delivery systems and psychedelic assisted psychotherapy. Core One 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. The Company intends to further develop and apply the technology to psychedelic compounds, such as psilocybin. Core One also holds an interest in medical clinics which maintain a combined database of over 275,000 patients. Through these clinics, the integration of its intellectual property, R&D related to psychedelic treatments and novel drug therapies, the Company intends to obtain regulatory research approval for the advancement of psychedelic-derived treatments for mental health disorders.

Core One Labs Inc.

Joel Shacker

Chief Executive Officer

FOR MORE INFORMATION, PLEASE CONTACT:

info@core1labs.com

1-866-347-5058

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 strict regulatory regulations.  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 or authorization. Health Canada has not approved psilocybin as a drug for any indication. Core One 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 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 does not deal with psychedelic substances, except within laboratory and clinical trial settings conducted within approved regulatory frameworks.

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Core One Labs Completes Milestone Acquisition of Akome Biotech

Vancouver, British Columbia, Canada – May 4, 2021 – Core One Labs Inc. (CSE: COOL), (OTC: CLABF), (Frankfurt: LD62, WKN: A2P8K3) (the “Company” or “Core One”) a biotechnology research and development life sciences enterprise focused on advancing psychedelic medicines to market, is pleased to announce that it has completed the acquisition (the “Transaction”) of Akome Biotech Ltd. (“Akome”). With this strategic acquisition, the scope of Core One’s psychedelics’ bio-pharma research and development division will broaden to include drug formulations that effectively target and change underlying processes at the root of neurological disorders, and/or prevent further neurological damage that result from the disorders.

What distinguishes Akome’s approach from other companies focused on the psychedelic treatment of neurological disorders, is their proprietary cGMP drug formulations which are comprised of psychedelic compounds and plant bioactives.  Through data mapping, Akome has identified what is believed to be powerful combinations of psychedelics and plant bioactives, active pharmaceutical ingredients (APIs) which activities seem to be complementary and/or synergistic.

Currently Akome has 4 provisional matter of composition patents filed with the United States Patent and Trademark Office for these plant bioactive-psychedelic drug formulations, all of which target different disorders: 2 DMT-based, for the addressing Parkinson’s Disease, and Ischemic Stroke, respectively; one (1) psilocybin-based, for addressing Alzheimer’s Disease; and one (1) ketamine-based, for addressing depression.

Akome has an assembled team of renowned clinical research specialists, as well as medical research professionals, and has processes in place to ensure its proprietary formulations are of the highest quality, developed within short timelines, are cost effective, and are regulatory compliant.

Joel Shacker, CEO of the Company stated “Closing on Akome is an important step for the Company, as we have added an outstanding asset and a strong team. The drug formulations being developed could address the needs of millions of patients globally. By combining plant bioactives with psychedelic compounds, this company is revolutionizing psychedelic drug development.”

In consideration for all of the outstanding share capital of Akome, the Company has issued 3,500,000 common shares to the existing shareholders of Akome. Following issuance, the shares are subject to the terms of a pooling arrangement, during which time they may not be transferred or traded without the prior consent of the Company.

The Company is at arms-length from Akome and each of its shareholders.  The Transaction neither constitutes a fundamental change for the Company, nor has it resulted in a change of control of the Company, within the meaning of applicable securities laws and the policies of the Canadian Securities Exchange.

The Company will also issue 100,000 common shares to each of three arms-length third-parties who introduced the Transaction to the Company (the “Finder’s Shares”), as well as 35,000 common shares as an administration fee (the “Administrative Shares”) to each of two parties that provided administrative support in connection with the Transaction. The Finder’s Shares and Administrative Shares are subject to a four-month hold from the date of issuance pursuant to the policies of the Canadian Securities Exchange.

About Core One Labs Inc.

Core One is a biotechnology research and technology life sciences enterprise focused on bringing psychedelic medicines to market through novel delivery systems and psychedelic assisted psychotherapy. Core One 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. The Company intends to further develop and apply the technology to psychedelic compounds, such as psilocybin. Core One also holds an interest in medical clinics which maintain a combined database of over 275,000 patients. Through these clinics, the integration of its intellectual property, R&D related to psychedelic treatments and novel drug therapies, the Company intends to obtain regulatory research approval for the advancement of psychedelic-derived treatments for mental health disorders.

Core One Labs Inc.

Joel Shacker

Chief Executive Officer

FOR MORE INFORMATION, PLEASE CONTACT:

info@core1labs.com

1-866-347-5058

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 strict regulatory regulations.  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 or authorization. Health Canada has not approved psilocybin as a drug for any indication. Core One 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 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 does not deal with psychedelic substances, except within laboratory and clinical trial settings conducted within approved regulatory frameworks.

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Mydecine Reports Full Year 2020 Financial Results and Provides Business Update

Published at globenewswire.com

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Positioned as Leader in Emerging Psychedelic Therapeutics Market through Robust IP Portfolio, Novel Clinical Trials and Evolving Proprietary Technology
Strengthened Balance Sheet with Approximately $30 Million in Capital Raised Subsequent to the Year-End
Announced Appointment of Experienced Software and Engineering Leader, William Cook as Interim CEO of Mindleap

DENVER, May 03, 2021 (GLOBE NEWSWIRE) — Mydecine Innovations Group (NEO: MYCO) (OTC: MYCOF) (FSE: 0NFA) (“Mydecine” or the “Company’), an emerging biopharma and life sciences company committed to the research, development, and acceptance of alternative nature-sourced medicine for mainstream use, today reported its financial results for the full year ended December 31, 2020 and provided a business update.

“In 2020, our team worked diligently and effectively to establish the foundation of Mydecine. We focused on closing strategic acquisitions and partnerships, advancing our clinical trials and building our intellectual property portfolio to position Mydecine as a key player in the advancement of psychedelic-assisted psychotherapy,” stated Josh Bartch, CEO of Mydecine. “Now, as we move ahead in 2021 with a vertically-integrated business model in place supported by a strengthened balance sheet and expanded team of world-class executives, we are strongly positioned to enter the next chapter of Mydecine’s journey to lead the future of the psychedelic therapeutics industry.”

“In addition, we are extremely excited to announce the appointment of William Cook as the Interim CEO & Technical Director of Mindleap, at this important juncture of our Company’s development.  Mr. Cook’s extensive technical and leadership experience combined with his passion for individuals’ mental health brings an exceptional combination to the leadership of Mindleap.

As a West Point grad, Mr. Cook designed the Patriot missile system software parameters for the Army and then at Raytheon, led the development of Patriot software including that used in Desert Storm.  Mr. Cook architected and led a team of over 200 engineers developing the THAAD missile defense ‘brain’ software at Litton Industries, receiving Litton’s highest honors for technical achievement and leadership.

Thereafter, Mr. Cook founded an engineering firm, demonstrating his critical role in leadership and driving growth for several major companies and projects.  Mr. Cook also received his master’s degree in Marriage, Family and Child Therapy and has performed thousands of hours of deep trauma-healing work in group and private psychotherapy, placing mental healthcare at the center of his passions. Mr. Cook a trusted leader of our Mindleap team as we launch Mindleap 2.0 in the spring of 2021,” commented Mr. Bartch.

Business Highlights During and Subsequent to the Fourth Quarter 2020

Novel Clinical Studies

  • Launched clinical trials in three continents for the Phase 2a study of psychedelic treatments for PTSD in veterans, EMS, and first responders with aims to achieve safer and more accurate psychedelic-led psychotherapy results in a supervised setting.
  • Completed the world’s first international legal export of dried psilocybin mushrooms providing access to a quality source of much needed product for both research purposes, as well as to sell and transfer CGMP naturally-derived psilocybin to other licensed research facilities around the globe.
  • Sponsored several studies with academia, including the first lab-based study of established microdosing at Macquarie University in Australia and neuron level response to psilocybin at University of Maryland.
  • Entered into an exclusive partnership with Applied Pharmaceutical Innovation (API) at the University of Alberta, as well as, expanded capabilities that enables support of multiple drug development and clinical trial programs simultaneously.
  • Identified four lead novel drug candidates that are unique and patentable:
  1. MYCO – 001 is pure psilocybin from natural fungal sources.
  2. MYCO – 002 is an entactogenic compound that has been created with the goal of reducing harm and improving the safety profile vs. traditional MDMA.
  3. MYCO – 003 is a psilocybin-based formula with reduced anxiety potential, with the aim of removing the possibility of “bad trips,” even with severely ill patients.
  4. MYCO – 004 is a patch delivered tryptamine compound. Properties include short duration (~2hours), transdermal, precision dosing and long-term compound stability.

Robust IP Portfolio

  • In October 2020, Mydecine filed its provisional patent for the treatment of post-traumatic stress disorder (PTSD) with psilocybin.
  • In January 2021, Mydecine filed seven provisional patent applications with the United States Patent and Trademark Office (USPTO) in its efforts to discover valuable novel compounds in fungi for medicinal and pharmaceutical use.
  • In February 2021, Mydecine filed a provisional patent for Mindleap’s mental health technology with the USPTO and the Canadian Intellectual Property Office.

Enhanced Leadership

  • Appointed Dr. Rakesh Jetly as Chief Medical Officer in November 2020. Dr. Jetly brought a wealth of experience not only as a medical advocate for the use of psychedelic-assisted psychotherapy, but also as a prominent voice in the fight against PTSD and other mental health issues facing vulnerable populations like veterans and first responders.
  • In January 2021, Dean Ditto joined the Company as Chief Financial Officer. Mr. Ditto has over 20 years of financial leadership experience, as well as, tenure with a Big 4 public accountant firm.
  • In March 2021, Michel Rudolphie, former Novartis Norway CEO and former CEO and President of Make-A-Wish International, joined the Company as President of European Operations.
  • Strengthened the Board of Directors with the appointments of veteran corporate finance and capital markets professional, Gordon Neal and Josephine Wu, both experienced at bringing numerous successful drugs to market.
  • In April 2021, William Cook, an experienced software and engineering leader, was appointed interim CEO of Mindleap. Mr. Cook will be focused on the successful launch of Mindleap V2.

Capital Markets

  • Raised approximately $30 million in capital subsequent to the year-end 2020.
  • Successfully completed its migration to NEO Exchange and commenced trading on March 23, 2021.
  • Submitted formal application to list on the NASDAQ Stock Exchange and took the necessary steps to qualify.
Financial Results for the Full Year 2020

Net Loss: Net loss attributable to common stockholders was $26.9 million for the year ended December 31, 2020, or a basic and diluted loss per share attributable to common stockholders of $0.24, as compared to a net loss attributable to common stockholders of $21.5 million for the year ended December 31, 2019, or a basic and diluted loss per share attributable to common stockholders of $0.96.

Cash Position: As of December 31, 2020, the Company had cash and cash equivalents of $2.2 million. Subsequent to the year-end 2020, the Company raised approximately $30 million and is well-funded to advance its IP portfolio, expand clinical trial calendar, expand European operations; and build out its technology division.

Conference Call and Webcast Information

The Company will host a conference call and audio webcast on Monday, May 3rd at 10:30 a.m. ET. The dial-in numbers for the conference call are 1-877-407-4018 (U.S. Toll Free) or 1-201-689-8471 (International). Please dial in 10 to 15 minutes prior to the start time of the conference call and an operator will register your name and organization.

The conference call will also be available via webcast, which can be accessed through the Investor Relations section of Mydecine’s website, https://www.mydecine.com/#investors or here.

For interested individuals unable to join the conference call, a replay of the call will be available through May 17, 2021, at +1-844-512-2921 (U.S. Toll Free) or +1-412-317-6671 (International). Participants must use the following code to access the replay of the call: 13718466. The online archive of the webcast will be available on https://www.mydecine.com/#investors after the conclusion of the call.

About Mydecine Innovations Group

Mydecine Innovations Group™ (NEO:MYCO) (OTC:MYCOF) (FSE:0NFA) is an emerging biotech and life sciences company dedicated to developing and commercializing innovative solutions for treating mental health problems and enhancing vitality. The company’s world-renowned medical and scientific advisory board is building out a robust R&D pipeline of nature-sourced psychedelic-assisted therapeutics, novel compounds, therapy protocols, and unique delivery systems. Mydecine has exclusive access to a full cGMP certified pharmaceutical manufacturing facility with the ability to import/export, cultivate, extract/isolate, and analyze active mushroom compounds with full government approval through Health Canada. Mydecine also operates out of a state-of-the-art mycology lab in Denver, CO to focus on genetic research for scaling commercial cultivation of rare (non-psychedelic) medicinal mushrooms.

At the heart of Mydecine’s core philosophy is that psychedelic-assisted psychotherapy will continue to gain acceptance in the medical community with many of the world’s best accredited research organizations demonstrating its remarkable clinical effectiveness. Mydecine recognizes the responsibility associated with psychedelic-assisted therapy and will continue to position itself as a long-term leader across the spectrum of clinical trials, research, technology, and global supply. Mydecine has also successfully completed multiple acquisitions since its inception.

Learn more at: https://www.mydecine.com/ and follow us on Facebook, Twitter, and Instagram.

For further information about Mydecine Innovations Group, Inc., please visit the Company’s profile on SEDAR at www.sedar.com or visit the Company’s website at www.mydecine.com.

This news release contains forward-looking information within the meaning of Canadian securities laws regarding the Company and its business, which relate to future events or future performance and reflect management’s current expectations and assumptions. Often but not always, forward-looking information can be identified by the use of words such as “expect”, “intends”, “anticipated”, “believes” or variations (including negative variations) of such words and phrases, or state that certain actions, events or results “may”, “could”, “would” or “will” be taken, occur or be achieved. Such forward-looking statements reflect management’s current beliefs and are based on assumptions made by and information currently available to the Company. Readers are cautioned that these forward-looking statements are neither promises nor guarantees, and are subject to risks and uncertainties that may cause future results to differ materially from those expected including, without limitation, risks regarding the COVID-19 pandemic, the availability and continuity of financing, the ability of the Company to adequately protect and enforce its intellectual property, the Company’s ability to bring its products to commercial production, continued growth of the global adaptive pathway medicine, natural health products and digital health industries, and the risks presented by the highly regulated and competitive market concerning the development, production, sale and use of the Company’s products. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. These forward-looking statements are made as of the date hereof and the Company does not assume any obligation to update or revise them to reflect new events or circumstances save as required under applicable securities legislation.

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CHAMPIGNON BRANDS CHANGES NAME TO BRAXIA SCIENTIFIC TO REFLECT THE INTEGRATION OF KETAMINE AND PSYCHEDELIC CLINICS AND ITS RESEARCH AND DEVELOPMENT PRIORITIES

TORONTO, ONTARIO May 3, 2021 – Champignon Brands Inc. (the “Company”), (CSE: SHRM) (FWB: 496) (OTCQB: SHRMF), is pleased to announce that it has changed its name from “Champignon Brands Inc.” to “Braxia Scientific Corp.” and its ticker symbol will change from “SHRM” to “BRAX” on the Canadian Securities Exchange (the “CSE”).  The name change reflects the Company’s commitment to providing access to, and leadership in, setting the standard of care for ketamine treatment in depression through its network of clinics, as well as the Company’s ketamine and psychedelic derivative research and drug development priorities. Braxia Scientific’s overarching aim is to shape the future of treatment for people suffering from depression and other mental health disorders.

“Our new name – Braxia Scientific – allows us to emphasize our core business objective around changing the way depression and other mental disorders are treated through our growing network of clinics. Our goal is to improve the access and quality of mental healthcare service to people affected by these disorders in a highly cost-effective manner. Braxia Scientific also aims to develop innovative ketamine and psychedelic drug formulations to provide high impact solutions for the future,” said Roger McIntyre, Chief Executive Officer, Braxia Scientific.

“As the principals of the Company have a long history of research and drug development with large international pharmaceutical companies, we are well positioned and committed to delivering breakthrough ketamine and psychedelic formulations while also setting the standard of care that will ensure the best outcome for patients with depression receiving care, globally,” concluded Dr. McIntyre.

Trading Ticker Change

The Company’s ticker symbol will change from “SHRM” to “BRAX” on the CSE, and its ticker symbol from “SHRMF” to “BRAXF” on the Over-the-Counter (OTC) market. Subject to the approval of the CSE, the Company expects the name and ticker changes to take effect on May 5, 2021, and for its common shares to begin trading on the CSE under the new name and new ticker symbol on such date.

Share Issuance

The Company also announces that it has issued 250,000 common shares to settle the amount of $125,000 owed to an independent contractor providing research and development services to the Company.

About Braxia Scientific Corp.

Braxia Scientific is a research driven medical solutions company that aims to reduce the illness burden of brain-based mental disorders such as major depressive disorder among others. Braxia Scientific is primarily focused on (i) owning and operating multidisciplinary clinics providing treatment for mental health disorders and (ii) research activities related to discovering and commercializing novel drugs and delivery methods. The Company develops ketamine and psilocybin derivatives and other psychedelic products from its IP development platform. Braxia Scientific, through its wholly owned subsidiary, the Canadian Rapid Treatment Center of Excellence Inc., currently operates multidisciplinary community-based clinics offering rapid-onset treatments for depression located in Mississauga, Toronto, Ottawa, and Montreal.

ON BEHALF OF THE BOARD

“Dr. Roger S. McIntyre“
Dr. Roger S. McIntyre
Chairman & CEO

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FOR FURTHER INFORMATION PLEASE CONTACT: Braxia Scientific Corp. (416) 762-2138
Email: info@braxiascientific.com   Website: www.braxiascientific.com

Media: Victoria Ollers, victoriaollers@braxiascientific.com, 416 822-2288

The CSE has not reviewed and does not accept responsibility for the accuracy or adequacy of this release.

Forward-looking Information Cautionary Statement

This news release contains forward-looking statements within the meaning of applicable securities laws. All statements that are not historical facts, future estimates, plans, programs, forecasts, projections, objectives, assumptions, expectations, or beliefs of future performance are “forward-looking statements.”

Forward-looking statements include statements about the Company’s ability to take a leadership position in the treatment of depression and the intended promise of ketamine and psychedelic derivatives as a treatment for depression, the ability of the Company to develop ketamine and psychedelic drug formulations and the potential for ketamine and psychedelic drug formulations to treat other mental health disorders.

Such forward- looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results, events, or developments to be materially different from any future results, events or developments expressed or implied by such forward-looking statements. Such risks and uncertainties include, among others, the failure of ketamine to provide the expected health benefits and unanticipated side effects, dependence on obtaining and maintaining regulatory approvals, including acquiring and renewing federal, provincial, municipal, local or other licenses and engaging in activities that could be later determined to be illegal under domestic or international laws.

These factors should be considered carefully, and readers are cautioned not to place undue reliance on such forward-looking statements.

Although the Company has attempted to identify important risk factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other risk factors that cause actions, events or results to differ from those anticipated, estimated or intended. Additional information identifying risks and uncertainties that could affect financial results is contained in the Company’s filings with Canadian securities regulators, including the Amended and Restated Listing Statement dated April 15, 2021, which are available at www.sedar.com. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in forward-looking statements.

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COMPASS Pathways announces pricing of public offering

London, UK – 30 April 2021

COMPASS Pathways plc (Nasdaq: CMPS) (“COMPASS”), a mental health care company dedicated to accelerating patient access to evidence-based innovation in mental health, today announced the pricing of its public offering of 4,000,000 American Depositary Shares (“ADSs”) representing 4,000,000 ordinary shares at a public offering price of $36.00 per ADS for total gross proceeds of $144.0 million. All ADSs sold in the offering were offered by COMPASS. The offering is expected to close on or about 4 May 2021, subject to the satisfaction of customary closing conditions. In addition, COMPASS has granted the underwriters a 30-day option to purchase up to an additional 600,000 ADSs at the public offering price, less underwriting discounts and commissions.

Cowen, Evercore ISI and Berenberg are acting as joint book-running managers for the offering. Cantor Fitzgerald & Co. and BTIG, LLC are acting as lead managers for the offering.

A registration statement relating to the offering has been filed with, and declared effective by, the US Securities and Exchange Commission (“SEC”). The offering will be made only by means of a prospectus. Copies of the final prospectus, when available, may be obtained from Cowen and Company, LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717, Attention: Prospectus Department, by telephone at (833) 297-2926 or by email at PostSaleManualRequests@broadridge.com; Evercore Group L.L.C., Attention: Equity Capital Markets, 55 East 52nd Street, 36th Floor, New York, New York 10055, telephone: (888) 474-0200, or email: ecm.prospectus@evercore.com; or Berenberg Capital Markets LLC, Attention: Investment Banking, 1251 Avenue of the Americas, 53rd Floor, New York, New York 10020, or by telephone at +1 (646) 949-9000, or by e-mail at prospectusrequests@berenberg-us.com. For the avoidance of doubt, such prospectus will not constitute a “prospectus” for the purposes of Regulation (EU) 2017/1129 (the “Prospectus Regulation”) and will not have been reviewed by any competent authority in any EU member state or the UK.

Important information

This press release does not constitute an offer to sell or the solicitation of an offer to buy, and shall not constitute an offer, solicitation or sale in any state, province, territory or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state, province, territory or jurisdiction.

For readers in the European Economic Area (“EEA”) and the UK

In any EEA member state and the UK (each, a “Relevant State”), this press release and any offering are only addressed to and directed at persons who are qualified investors (“Qualified Investors”) in that Relevant State within the meaning of the Prospectus Regulation. The term “Prospectus Regulation” means Regulation (EU) 2017/1129.

For readers in the UK

In the UK, this press release, in so far as it constitutes an invitation or inducement to enter into investment activity (within the meaning of section 21 of the Financial Services and Markets Act 2000, as amended (the “FSMA”), and any offering are only addressed to and directed at Qualified Investors (i) who are investment professionals as described in Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005, as amended (the “Order”), (ii) persons and entities who fall within Article 49(2)(a) to (d) of the Order, or (iii) to whom it may otherwise lawfully be communicated (all such persons being referred to as “relevant persons”).

This press release must not be acted on or relied on (i) in the UK, by persons who are not relevant persons, and (ii) in any EEA member state, by persons who are not Qualified Investors. Any investment or investment activity to which this press release relates is available only to and will only be engaged with (i) in the UK, relevant persons, and (ii) in any EEA member state, Qualified Investors. This press release does not contain an offer or constitute any part of an offer to the public within the meaning of sections 85 and 102B of the FSMA or otherwise.

About COMPASS Pathways

COMPASS Pathways (Nasdaq: CMPS) is a mental health care company dedicated to accelerating patient access to evidence-based innovation in mental health. Our focus is on improving the lives of those who are suffering with mental health challenges and who are not helped by current treatments. We are pioneering the development of a new model of psilocybin therapy, in which our proprietary formulation of synthetic psilocybin, COMP360, is administered in conjunction with psychological support. COMP360 has been designated a Breakthrough Therapy by the US Food and Drug Administration (FDA), for treatment-resistant depression (TRD), and we are currently conducting a phase IIb clinical trial of psilocybin therapy for TRD, in 22 sites across Europe and North America. We are headquartered in London, UK, with offices in New York, US. Our vision is a world of mental wellbeing.

Forward-looking statements

This press release includes certain disclosures that contain “forward-looking statements,” including, without limitation, express or implied statements relating to, among other things, COMPASS’s ability to complete the proposed offering and its anticipated use of  proceeds. Forward-looking statements are based on COMPASS’s current expectations and are subject to inherent uncertainties, risks and assumptions that are difficult to predict. Factors that could cause actual results to differ include, but are not limited to, risks and uncertainties related to the satisfaction of customary closing conditions and the completion of the offering, and the risks inherent in mental health care clinical trials. These and other risks and uncertainties are described more fully in the section titled “Risk Factors” in the final prospectus related to the offering to be filed with the SEC. Forward-looking statements contained in this announcement are made as of this date, and COMPASS undertakes no duty to update such information except as required under applicable law.

Enquiries:

Media: Tracy Cheung, tracy@compasspathways.com, +44 7966 309024
Investors: Stephen Schultz, stephen.schultz@compasspathways.com, +1 401-290-7324

Posted on

Core One Labs Reaches Definitive Agreement to Acquire Akome Biotech

Vancouver, British Columbia, Canada – April 29, 2021 – Core One Labs Inc. (CSE: COOL), (OTC: CLABF), (Frankfurt: LD62, WKN: A2P8K3) (the “Company”), a biotechnology research and development life sciences enterprise focused on advancing psychedelic medicines to market, is pleased to announce that it has entered into a definitive share purchase agreement (the “Definitive Agreement”), dated April 23, 2021, pursuant to which it will acquire all of the outstanding share capital of Akome Biotech Ltd. (“Akome”). The acquisition of Akome further positions the Company at the forefront of development of psychedelic drugs for neurological diseases and mental disorders.

Akome’s CEO, Dr. Santiago Ferro has extensive experience in leading clinical research teams and has been involved in all aspects of a start-up companies and product life cycle: from product development to clinical and regulatory strategies, to sales and marketing opportunities with companies such as Sanofi Pasteur, Novartis and Glaxo Smith Klein. Dr. Fadia Saad is a co-founder of Akome and the inventor of its patents.

The focus at Akome is to develop safe and efficacious treatments for stroke, Alzheimer’s disease, depression, and Parkinson’s Disease.  [1]The Global Stroke Management Market accounted for $22.5 billion USD in 2016, and is estimated to reach $36.7 billion by 2023, growing at a CAGR of 7.1%.  [2]87% of strokes are ischemic strokes.  An ischemic stroke happens when blood flow through the artery that supplies oxygen-rich blood to the brain becomes blocked.  The current available treatment for acute ischemic strokes is the administration of the thrombolytic agent, tissue-plasminogen activator.

[3]Global Alzheimer’s Therapeutics Market is projected to reach USD 13.57 billion by 2027 from USD 7.42 billion in 2019 with a substantial CAGR of 9.2% through the forecast period. Currently there are no pharmacologic treatments available today to slow or stop the damage and destruction of neurons that cause Alzheimer’s.  No drugs have been specifically approved by the FDA to treat behavioral and psychiatric symptoms that may develop in the moderate and severe stages of Alzheimer’s dementia.

[4]Depression affects more than 264 million individuals.  It is an incapacitating disorder, responsible for the most of the 800,000 annual suicides.  In 2008, WHO ranked major depression as the third cause of burden of disease worldwide and projected it will rank first by 2030.

[5]Parkinson’s disease is a global burden and more than doubled in the past decade.  Nearly 1 million people live with Parkinson’s disease in the US and 10 million people worldwide.  The Parkinson’s disease treatment market was valued at USD $3.99 billion in 2016, by 2022 it is expected to reach USD $5.69 billion.  Currently, there is no cure for Parkinson’s disease, but there are some therapies available to relieve symptoms.  Levodopa is main one drug used to make dopamine to replenish the brains dwindling supply by mimicking dopamine in the brain.

Joel Shacker, CEO of the Company stated, “This acquisition will put us at the forefront of research into the use of psychedelics for treatment across multiple diseases, elevating our company’s portfolio to be comparable with the largest company in the space. Akome’s seasoned management team has experience taking products from their development stage through commercialization.  Their current pipeline of four provisional matter of composition patents have us very excited at their prospect of developing into commercial products to help people suffering with Alzheimer’s Disease, Stroke, Parkinson’s Disease and Depression, opening us up to a multibillion dollar treatment market.”

In consideration for all of the outstanding share capital of Akome, the Company is required to issue 3,500,000 common shares to the existing shareholders of Akome.  Following issuance, the shares will be subject to the terms of a pooling arrangement, during which time they may not be transferred or traded without the prior consent of the Company.

The Company is at arms-length from Akome and each of its shareholders.  The acquisition does not constitute a fundamental change for the Company, nor will it result in a change of control of the Company, with the meaning of applicable securities laws and the policies of the Canadian Securities Exchange.

About Core One Labs Inc.

Core One is a biotechnology research and technology life sciences enterprise focused on bringing psychedelic medicines to market through novel delivery systems and psychedelic assisted psychotherapy. Core One 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. The Company intends to further develop and apply the technology to psychedelic compounds, such as psilocybin. Core One also holds an interest in medical clinics which maintain a combined database of over 275,000 patients. Through these clinics, the integration of its intellectual property, R&D related to psychedelic treatments and novel drug therapies, the Company intends to obtain regulatory research approval for the advancement of psychedelic-derived treatments for mental health disorders.

Core One Labs Inc.

Joel Shacker

Chief Executive Officer

FOR MORE INFORMATION, PLEASE CONTACT:

info@core1labs.com

1-866-347-5058

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 strict regulatory regulations.  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 or authorization. Health Canada has not approved psilocybin as a drug for any indication. Core One 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 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 does not deal with psychedelic substances, except within laboratory and clinical trial settings conducted within approved regulatory frameworks.

[1] https://www.alliedmarketresearch.com/stroke-diagnostics-and-therapeutics-market

[2] https://www.cdc.gov/stroke/types_of_stroke.htm

[3] https://www.medgadget.com/2021/01/alzheimers-therapeutics-market-to-reach-usd-13-57-billion-by-2027-size-share-industry-analysis-and-global-forecast-to-2027.html

[4] https://www.who.int/news-room/fact-sheets/detail/depression

[5] https://www.marketsandmarkets.com/Market-Reports/parkinson-disease-treatment-market-47265247.html

Posted on

Lobe Sciences Enters into LOI with Core One Labs to Form a Joint Venture for the Clinical Development of Biosynthetic Psilocybin

Vancouver, British Columbia–(Newsfile Corp. – April 28, 2021) – Lobe Sciences Ltd. (CSE: LOBE) (OTC Pink: GTSIF) (“Lobe” or the “Company“) is pleased to announce it has entered into a non-binding letter of intent dated April 27, 2021 (the “Agreement“) with Core One Labs Inc. (CSE: COOL) (“Core One Labs“) to pursue the formation of a joint venture involving the development, regulatory approval and marketing of biosynthetic psilocybin and other psychedelic compounds (the “Joint Venture“).

“Lobe is pleased to pursue a partnership with Core One Labs, as we continue our business expansion efforts within the rapidly growing psilocybin and psychedelics space,” said Philip Young, CEO of Lobe. “A joint venture is the logical next step for us as it has the potential to provide cGMP grade psilocybin for use in clinical studies we plan to initiate in the future.”

 

The Agreement proposes that Core One Labs would develop and manage the cGMP production and delivery of biosynthetic psilocybin and Lobe would be responsible for the clinical development, and commercialization of the product(s). Vocan Biotechnologies Inc. (“Vocan“), a wholly-owned subsidiary of Core One Labs, would produce the biosynthetic psilocybin and other psychedelic compounds to be used. Vocan has identified a patentable method of producing psilocybin, the active ingredient in psychotropic mushrooms.

 

The structure and terms of the Joint Venture remains subject to negotiation between the parties. The Joint Venture is subject to a number of other conditions, including but not limited to, legal and regulatory due diligence by the parties, negotiation and execution of a definitive agreement (the “Definitive Agreement“) with binding terms and conditions for the Joint Venture, including, but not limited to, customary representations and  warranties,  royalty structure  for  payments by Core  One  Labs for  product  sales initiated  by Lobe,  the  price of biosynthetic psilocybin to Lobe, the production schedule of Core One Labs and the timeframe for product order fulfillment and delivery, which shall supersede the Agreement and receipt of applicable corporate and regulatory approvals. There can be no assurance that the Joint Venture will be completed as proposed herein or at all.

About Lobe Sciences Ltd.

 

Lobe is a life sciences company focused on psychedelic medicines. The Company, through collaborations with industry leading partners, is engaged in drug research and development using psychedelic compounds and the development of innovative devices and delivery mechanisms to improve mental health and wellness.

For further information please contact:

Lobe Sciences Ltd.

Philip J Young, CEO info@lobesciences.com Tel: (949) 505-5623

 

THE CSE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ACCURACY OR ADEQUACY OF THIS RELEASE.

 

Disclaimer for Forward Looking Statements

 

This news release contains forward-looking statements relating to the future operations of the Company and other statements that are not historical facts. Forward-looking statements are often identified by terms such as “will”, “may”, “should”, “anticipate”, “expects” and similar expressions. All statements other than statements of historical fact included in this release, including statements regarding the future plans and objectives of the Company, the proposed Joint Venture with Core One Labs and products expected to be developed, approved and commercialized, statements regarding research and development using psychedelic compounds, the development of innovative devices and delivery mechanisms to improve mental health and wellness, the initiation of future clinical trials, and business expansion initiatives, are forward looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Readers are cautioned that assumptions used in the preparation of the forward-looking statements may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company, including that the expected benefits to be derived from the proposed joint venture with Core One Labs may not materialize as expected, including that the Joint Venture may be unsuccessful in developing, obtaining

 

regulatory approval and commercializing any products and/or the risk that the Company may not realize a return on its investment in the Joint Venture, changes to the regulatory environment; that the Company’s drug research and development activities may be unsuccessful; the completion of a Definitive Agreement, that drugs and medical devices produced by, or on behalf of, the Company, may not work in the manner intended or at all, and may subject the Company to product liability or other liability claims; that the Company may not be able to attain the Company’s corporate goals and objectives; and other risk factors detailed in the Company’s continuous disclosure filings from time to time, as available under the Company’s profile at www.sedar.com. As a result, the Company cannot guarantee that any forward- looking statement will materialize and the reader is cautioned not to place undue reliance on any forward-looking information. Forward- looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made only as of the date of this news release and the Company does not intend to update any of the included forward-looking statements except as expressly required by applicable Canadian securities laws.

4/28/2021 4:36:00 PM

Posted on

Core One Labs to Explore Joint Venture with Lobe Sciences for the Clinical Development of Biosynthetic Psilocybin

Vancouver, British Columbia, Canada – April 28, 2021 – Core One Labs Inc. (CSE: COOL), (OTC: CLABF), (Frankfurt: LD62, WKN: A2P8K3) (the “Company” or “Core One”) is pleased to announce it has entered into a letter of intent, dated April 27, 2021, with Lobe Sciences Ltd. (“Lobe”) pursuant to which the Company will explore the formation of a joint venture (the “Joint Venture”) with Lobe involving the sale and distribution of biosynthetic psilocybin.  The structure of the Joint Venture remains subject to negotiations as well as, legal and regulatory due diligence between Core One and Lobe, and may be altered for corporate, tax or securities reasons.

It is contemplated that Core One and Lobe will cooperate in the formation of the Joint Venture for the development, regulatory approval and marketing of biosynthetic psilocybin and other psychedelic compounds to be produced by Vocan Biotechnologies Inc., a wholly owned subsidiary of Core One.  Core One will develop and manage the cGMP production and delivery of biosynthetic psilocybin, with Lobe being responsible for the clinical development, and commercialization of the product(s).

Lobe as developed a patent pending Nasal Mist Transducer Device (the “Nasal Mist Device”) for administration of pharmaceutical agents such as a psilocybin-derived agent and/or N-acetylcysteine (NAC) at preselected dosages and times directly to the olfactory bulb.  The Nasal Mist Device will be utilized in the treatment of traumatic brain injuries and post-traumatic stress disorder. The device design allows for the precise control and delivery of medicines through the nasal cavity for faster and more efficient uptake of psychedelics and other medicines that target the brain.

Core One Labs’ business plan involves partnering with companies in the psychedelics space to provide them with our substantially lower cost and steriochemically sound API grade biosynthesized psilocybin for use in the commercialization of their products, clinical trials and research purposes, as well as approved mental health and addictions treatments.

With Core One’s projected production costs for biosynthesized psilocybin ranging between 10’s and 100’s of dollars a gram, compared to the average costs of other synthetic producers and extractors ranging from $7,000 to $10,000 a gram, there is significant opportunity for the Company to be the preferred supplier throughout the full spectrum of the psychedelics industry.  Core One views this as a significant value driver for the Company, as well as for its shareholders and all stakeholders, alike.

“Partnering with Lobe would be an exciting development for the Company as it marks another step towards becoming a viable industry-provider of API grade psilocybin. Additionally, Lobe’s Nasal Mist Device intellectual property would provide the Company access to new patent pending delivery methods and future revenue streams for our biosynthesized psilocybin upon completion of product development and testing stages,” stated Joel Shacker CEO of the Company.

About Core One Labs Inc.

Core One is a biotechnology research and technology life sciences enterprise focused on bringing psychedelic medicines to market through novel delivery systems and psychedelic assisted psychotherapy. Core One 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. The Company intends to further develop and apply the technology to psychedelic compounds, such as psilocybin. Core One also holds an interest in medical clinics which maintain a combined database of over 275,000 patients. Through these clinics, the integration of its intellectual property, R&D related to psychedelic treatments and novel drug therapies, the Company intends to obtain regulatory research approval for the advancement of psychedelic-derived treatments for mental health disorders.

Core One Labs Inc.

Joel Shacker

Chief Executive Officer

FOR MORE INFORMATION, PLEASE CONTACT:

info@core1labs.com

1-866-347-5058

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 strict regulatory regulations.  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 or authorization. Health Canada has not approved psilocybin as a drug for any indication. Core One 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 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 does not deal with psychedelic substances, except within laboratory and clinical trial settings conducted within approved regulatory frameworks.

Posted on

CORE ONE LABS ANNOUNCES DELAY OF FILINGS

Vancouver, British Columbia, Canada – April 28, 2021 – Core One Labs Inc. (CSE: COOL), (OTC: CLABF), (Frankfurt: LD62, WKN: A2P8K3) (the “Company” or ”Core One”) announces that it is anticipating a delay in filing its audited financial statements for the year ended December 31, 2020, and the related management’s discussion and analysis, and CEO and CFO certifications (collectively, the “Required Filings”), which are required to be filed on or before April 30, 2021.

In connection with the anticipated delay, the Company has applied to the applicable Canadian securities regulators requesting that a voluntary management cease trade order (“MCTO”) be imposed to restrict trading in the Company’s securities by insiders of the Company, as opposed to a general cease trade order, which would restrict all trading in the Company’s securities.  Once granted, the MCTO will be in effect until the Required Filings are filed or until it is revoked or varied.

The majority of the Required Filings have been prepared, but the Company is unable to complete and file such materials as a result of delays associated with collection of the required data and documentation to complete the audit of the Company and its various subsidiaries.  Restrictions on travel resulting from the ongoing COVID-19 pandemic have limited access to operations in the United States.  The Company is continuing to work with its auditors to complete the required audit work, and the Company expects being in a position to file the Required Filings no later than May 14, 2021.

The Company confirms that it intends to satisfy the provisions of the alternative information guidelines described in sections 9 and 10 of National Policy 12-203 – Management Cease Trade Orders for so long as it remains in default of the requirement to file the Required Filings.  The Company has not taken any steps towards any insolvency proceeding and the Company has no material information to release to the public.  The Company has made the foregoing representations in accordance with the requirements of applicable securities laws.

About Core One Labs Inc.

Core One is a biotechnology research and technology life sciences enterprise focused on bringing psychedelic medicines to market through novel delivery systems and psychedelic assisted psychotherapy. Core One 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. The Company intends to further develop and apply the technology to psychedelic compounds, such as psilocybin. Core One also holds an interest in medical clinics which maintain a combined database of over 275,000 patients. Through these clinics, the integration of its intellectual property, R&D related to psychedelic treatments and novel drug therapies, the Company intends to obtain regulatory research approval for the advancement of psychedelic-derived treatments for mental health disorders.

Core One Labs Inc.

Joel Shacker

Chief Executive Officer

FOR MORE INFORMATION, PLEASE CONTACT:

info@core1labs.com

1-866-347-5058

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 strict regulatory regulations.  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 or authorization. Health Canada has not approved psilocybin as a drug for any indication. Core One 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 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 does not deal with psychedelic substances, except within laboratory and clinical trial settings conducted within approved regulatory frameworks.