VANCOUVER, British Columbia, April 06, 2022 (GLOBE NEWSWIRE) -- Core One Labs Inc. (CSE: “COOL”), (OTCQB: “CLABF”), (Frankfurt: LD6, WKN: A3CSSU) (the “Company” or “Core One”) a life sciences biotechnology research and development company focused on bringing psychedelic medicines to market through the development and production of psychedelic compounds, the advancement of psychedelic assisted treatments, and the integration of novel delivery systems technology is pleased to announce that it has received approval to upgrade from the OTC Pink Market to the OTCQB® Venture Market (the "OTCQB").
Core One will commence trading on the OTCQB effective at market open on April 6, 2022, under the symbol "CLABF" and investors can find quotes for the Company’s common shares on www.otcmarkets.com. The Company's shares will continue to trade on the Canadian Securities Exchange (“CSE”) under the symbol "COOL".
The OTCQB, operated by OTC Markets Group Inc., offers investors transparent trading in entrepreneurial and development stage United States’ and international companies. The OTCQB is recognized by the United States Securities and Exchange Commission as an established public market providing public information for analysis and value of securities. Companies must be current in their financial reporting and must undergo an annual verification and management certification process, including meeting a minimum bid price and other financial conditions.
The elevated compliance and quality standards required of OTCQB listed companies provides investors with increased confidence in the companies in which they invest and is anticipated to provide the Company improved visibility in the US markets.
“Upgrading to the OTCQB is a timely and important milestone for Core One, as it will not only lead to increased corporate visibility in the US marketplace, it also has the potential to significantly enhance our liquidity and broaden our access to institutional and retail investors. We welcome the additional capital markets exposure and feel that in the rapidly growing psychedelic marketspace it will be valuable as we continue to grow our business and brand,” stated CEO Joel Shacker.
About Core One Labs Inc.
Core One Labs is a life sciences biotechnology research and development company focused on bringing psychedelic medicines to market through the development and production of psychedelic compounds, the advancement of psychedelic assisted treatments, and the integration of novel delivery systems technology.
The Company has a multi-faceted business approach and incorporates several complementary lines of businesses and units in establishing itself as an industry leader in the rapidly growing and emerging psychedelics market space.
Core One, through its wholly owned subsidiary Vocan Biotechnologies Inc., has developed and filed for patent protection of a proprietary psilocybin production system using engineered bacteria. It is also the holder of 4 provisional patents for the development of psychedelic-based pharmaceutical formulations targeting neurological and mental health disorders, under its 100% owned subsidiary Akome Biotech Ltd., and 3 provisional patents under its other 100% owned subsidiary, Awakened Biosciences Inc., for additional synthetic technologies for psilocybin and psilocin production methods.
In addition to the development of psychedelics and psychedelic compounds, Core One holds an interest in four medical clinics which maintain a combined database of more than 275,000 patients. Through its clinics the Company intends to integrate a roll out of its intellectual property related to psychedelic technologies and participate in the advancement of psychedelic-based 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.