VANCOUVER, British Columbia, March 20, 2021 (GLOBE NEWSWIRE) -- Core One Labs Inc. (CSE: COOL), (OTC: CLABF), (Frankfurt: LD62, WKN: A2P8K3) (“Core One” or the “Company”) is pleased to announce that it has filed an application to list its common shares on the Capital Market tier of The NASDAQ Stock Market LLC (“Nasdaq”). Nasdaq is ranked as the second-largest exchange by market capitalization in the world and Core One expects the listing to increase both investor awareness generally and market liquidity for the Company’s current and future shareholders.
The listing of Core One’s shares on Nasdaq is subject to the Company’s satisfaction of a number of conditions, including registration of Core One’s common shares with the U.S. Securities and Exchange Commission (the “SEC”) and a determination by the Nasdaq Listing Qualifications Staff that Core One satisfies all applicable criteria for initial listing on the Capital Market tier. Pending consideration of the Company’s listing application by Nasdaq, Core One’s common shares will continue to trade on the Canadian Securities Exchange (“CSE”) under the ticker symbol "COOL" and on the U.S. OTC Markets’ Pink Information Tier under the ticker symbol "CLABF."
“Given our plans for continued expansion of our geographic footprint of operations in the U.S., we want to make sure that our access to investors keeps pace with the underlying growth and expansion of our business. We view the Nasdaq listing as an important next step in growing our capital base, supporting our current investor base as well as future investors,” stated Joel Shacker, CEO of the Company.
Readers are cautioned that although Core One has submitted an application to list its common shares on Nasdaq, the successful completion of the Nasdaq listing process is subject the Company’s receipt of certain regulatory approvals and satisfaction of all applicable qualitative and quantitative criteria for initial listing on Nasdaq. Furthermore, the Company believes it will ultimately require consolidation of its outstanding share capital to satisfy Nasdaq’s market-related price requirements. There can be no assurance that a U.S. listing will be obtained. In any event, however, whether listed on Nasdaq or not, the Company expects that its common shares will continue to trade in Canada on the CSE.
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.
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 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.