Thugmuffin
2 years ago
$CLABF Core One Labs’ Akome Biotech Initiates Neurogenesis Stimulation and Modeling Studies: Advancing its Proprietary Psychedelic-based Pharmaceutical FormulationsPress Release | 03/04/2022
VANCOUVER, British Columbia, March 04, 2022 (GLOBE NEWSWIRE) -- Core One Labs Inc. (CSE: COOL), (OTC: CLABF), (Frankfurt: LD6, WKN: A3CSSU) (the “Company” or “Core One”) is pleased to announce that its wholly owned subsidiary Akome Biotech Ltd. (“Akome”), has entered into an agreement with the Universidad Complutense de Madrid (“Universidad Complutense”), officially commencing neurogenesis stimulation and modeling studies research, to advance the development of the Company’s patent pending psychedelic bioactive compounds that target Alzheimer’s Disease, Parkinson’s Disease, Major Depressive Disorder and Ischemic Stroke.
Neurogenesis is the ability of the brain to grow new neurons. Until recently, neuroscientists believed that the central nervous system, including the brain, was incapable of neurogenesis and unable to regenerate. However, research conducted over the last two decades confirms, not only that adult neurogenesis is a normal process that occurs in the healthy brain, but also that it can be enhanced by psychedelics among other potent stimulants. Neurogenesis is considered important in neuroplasticity, the ability of the brain to form new connections and pathways and change how its circuits are wired. Through Akome’s initial data mapping of how psychedelic substances and selected bioactive substances cooperate, there is potential for significant stimulus in adult neurogenesis in the brains of individuals that are afflicted with certain neurological disorders, and Akome’s research with Universidad Complutense seeks to prove that its chosen bioactive-compounds can enhance such processes.
The research, which is currently underway, is being led by Dr. Jose A. Morales-Garcia, PhD, of the Universidad Complutense de Madrid, a leading institution with extensive experience in psychedelics research, and neurodegenerative processes responsible for conditions such as Alzheimer's disease, Major Depressive disorder, Parkinson's disease and ischemic stroke. The scope of research is designed to advance the Company’s hypothesis that the selected candidate bioactive compounds included in its patent submissions, are viable candidates and will react positively upon targets in the Central Nervous System, and have the potential to stimulate neurogenesis in the brain of individuals afflicted with neurological disorders, and subsequently result in groundbreaking clinical implications for the indications of Ischemic stroke, Alzheimer's disease, Major Depressive disorder and Parkinson's disease.
Dr. Morales is an Assistant Professor and Honorary fellow in the Cellular Biology Department at the Complutense University of Madrid, Medical School, a scientist at the Center for Networked Biomedical Research on Neurodegenerative Diseases, as well as a professor in the Master of Pharmacological Research at the Autonoma University of Madrid. Dr. Morales has over 40 scientific publications in peer-reviewed journals.
Dr. Morales has a vast research background in the identification and analysis of new cellular targets implicated in neurogenesis and neurodegeneration as well as focused work in the study in vitro and in vivo of the mechanism underlying neurodegenerative disease, mainly Alzheimer´s and Parkinsonism in order to develop new neuroprotective, anti-inflammatory and neurogenic compounds for the treatment of these disorders.
“I believe that the treatment of individuals with neurological disorders through the use of psychedelic based pharmaceuticals, will become a major focus of mental healthcare in the near future. The groundbreaking work that Universidad Complutense is doing for Akome, will contribute significantly to the advancement of our drug formulations as we work to commercialize our patents. By developing unique psychedelic based pharmaceutical formulations that can be used for the treatment of Alzheimer’s, Parkinson’s, Depression and Ischemic Stroke, the Company is positioning itself to serve a larger and more diverse patient base,” stated Joel Shacker, the Company’s CEO.
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.
AskMuncher
2 years ago
$CLABF Vancouver discovery will make ‘Magic Mushroom’ mental health care cheaper
Press Release | 02/23/2022
Vancouver, BC, Feb. 23, 2022 (GLOBE NEWSWIRE) -- A team of Vancouver scientists has discovered a new process to cost-effectively make psilocybin, the active ingredient in magic mushrooms, paving the way for greater and more affordable treatments for a range of addictions and mental health conditions.
Recent research has found psilocybin is effective in the treatment of alcohol and opiate addiction, PTSD, depression, and anxiety. Research into other potential applications is ongoing. According to scientists at John Hopkins University the current cost of $7,000 - $10,000 per gram of psilocybin, makes it a prohibitively expensive ingredient in medical regimens and academic research.
A team out of Vancouver’s Core One Labs led by Dr. Robert Hancock, a globally renowned University of British Columbia (UBC) microbiologist and Canada Research Chair Holder in Health and Genomics, has created a new process they expect will bring that cost under $100 a gram by the end of 2022.
“It’s a game changer that allows for rapid, stable and cost-effective psilocybin production to bring the price down of the psychedelic compound that is showing enormous promise in treating addiction, depression and PTSD,” said Dr. Hancock, an Order of Canada recipient.
Psilocybin, Dr Hancock said, has been trialled, tested, legalised and decriminalised in many parts of the world and its “exceptional properties” could transform the mental-health care field.
The new process the team developed uses specially constructed, optimised DNA sequences making bacteria into biological factories for psilocybin production via a fermentation process, allowing the substance to be created in a lab under controlled conditions.
The breakthrough discovery comes in the wake of Health Canada approving the Special Access Program (SAP) use of psilocybin in psychedelic assisted therapy for mental illness, which afflicts 1 in 5 people in Canada every year.
A study from the Institute of Psychiatry, Psychology, & Neuroscience (IoPPN) at King’s College London, found that psilocybin can be safely administered with no detrimental effects in healthy people.
In the Pacific Northwest, Oregon has legalised psilocybin treatment for mental health issues while a pair of Washington State lawmakers earlier this month introduced legislation that would legalize “supported psilocybin experiences” by adults 21 and older.
“Nationally and internationally recognized medical institutions have shown that Psilocybin can help treat a variety of behavioral health conditions,” stated the Washington bill, “including but not limited to addiction, depression, anxiety disorders, and end-of-life psychological distress.”
“Psychotherapists around the world are reporting psilocybin treatment, is showing some of the best results compared to any therapy in addressing addiction, anxiety, depression and PTSD, said Joel Shacker, Chief Executive Officer of Core One Labs Inc., which has filed for a patent on its new discovery.
“The science and engineering by our scientists is playing a significant role in furthering mental health research with cost-effective psychedelic compounds,” he said.
The company’s scientists are now working with Dr. Hancock and global partners for the advancement of psychedelic-derived treatments for mental health disorders including neurodegenerative diseases, like Parkinson’s and Alzheimer’s.
McMillan LLP research recently reported that psychedelics have come a long way since the 1970s, at which time they faced a negative backlash as a result of the “war on drugs” in the United States, and corresponding restrictions in countries such as Canada.
“With a growing body of research, shifting demographics and a general openness to evaluate non-conventional ways to deal with existing challenges, the public has become more receptive to psychedelics for medical and therapeutic purposes,” said the business law firm.
The Canadian Psychedelic Association has also revealed survey findings from Nanos Research which demonstrated that 82% of Canadians approve the use of psilocybin-assisted therapy, and 78% would support a government that legalized the same.
Shawn Hall
(604) 619-7913
shawn@apogeepr.ca
AskMuncher
2 years ago
$CLABF Core One Labs’ Files Milestone Patent for Protection of its Recombinant Production System for Optimized Biosynthetic N-methyltryptamine (NMT)
Press Release | 02/21/2022
VANCOUVER, British Columbia, Feb. 21, 2022 (GLOBE NEWSWIRE) -- Core One Labs Inc. (CSE: COOL), (OTC: CLABF), (Frankfurt: LD6, WKN: A3CSSU) (“Core One” or the “Company”) is pleased to announce that its wholly-owned subsidiary, Vocan Biotechnologies Inc. of Victoria, British Columbia, has filed a patent application with the United States Patent and Trademark Office (“USPTO”) for the production of biosynthetic N-methyltryptamine (NMT) (also known as monomethyl tryptamine (MMT)) through its optimized recombinant production system (the “System”). N-Methyltryptamine is a member of tryptamines and is an organic compound known to produce psychoactive effects when combined with a monoamine oxidase A inhibitor (MAOI).1
The patent entitled “Production of Psychedelic Compounds” protects Core One’s novel proprietary production system. The System, under the leadership of Dr. Jan Burian, Chief Scientist, and Dr. Robert EW Hancock, is designed to make bacteria act as a biological factory and produce bioidentical psychedelic analogs such as biosynthetic N-methyltryptamine (NMT).
The Company's unique production process can manufacture a more superior cGMP compliant API grade NMT (or other psychedelic products) than any chemically synthesized counterpart, since it retains the stereochemistry of the natural psychedelic analogs found in hallucinogenic mushrooms. Natural psilocybin and psychedelic-related molecules are known to have a more positive effect than those chemically synthesized; however, analog compounds can potentially be more effective and safer than natural compounds.
A final patent approval would propel Core One past industry rivals since their game-changing production process enables mass-production of synthetic psilocybin and other psychedelic compounds or analogs more rapidly, while also reducing the production cost and market price drastically. It also maintains the quality and efficacy that are usually present in organically produced psychedelics.
“Filing this patent is an important milestone for the company since it allows us to protect our intellectual property against potential competitors. The patent provides a broad array of strategies useful for making psychedelic compounds enabling Core One to diversify its product portfolio,” stated Dr. Bob Hancock, CEO of Vocan Biotechnologies.
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 FURTHER INFORMATION:
Email: info@core1labs.com
Telephone: 1-866-347-5058
FOLLOW US:
Website: https://core1labs.com/
Twitter: https://twitter.com/Coreonelabs
Facebook: https://www.facebook.com/Core-One-Labs-Inc-100969251278277/
LinkedIn: https://www.linkedin.com/company/core-one-labs
Instagram: https://www.instagram.com/coreonelabsinc/
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.
AskMuncher
2 years ago
$CLABF Core One Labs Completes Strategic Acquisition of Awakened Biosciences and its Game-Changing Provisional Patents
Press Release | 02/11/2022
VANCOUVER, British Columbia., Feb. 11, 2022 (GLOBE NEWSWIRE) -- Core One Labs Inc. (CSE: COOL), (OTC: CLABF), (Frankfurt: LD6, WKN: A3CSSU) (the “Company” or “Core One”), a life sciences biotechnology company focused on research, development, and production of API grade psychedelic compounds, as well as the advancement of psychedelic assisted treatments for various mental health and neurological disorders, is pleased to announce that it has completed the acquisition (the “Transaction”) of all of the outstanding share capital of Awakened Biosciences Inc. (“Awakened”).
Awakened is a psychedelics research and technology company that has successfully developed novel technologies for the production of synthetic psilocybin, the synthetic production of psilocybin and psilocin analogues, and for the manufacturing of various no-psychoactive psilocybin-based prodrugs. All of Awakened’s production methods have the potential to produce resultant compounds at scale, and at significantly reduced costs when compared to other production methods of the same name.
Awakened’s novel production methods have resulted in the filing of three (3) provisional patents applications with the United States Patent and Trademark Office (USPTO) for protection of these proprietary technologies.
The Transaction presents many significant and immediate benefits to the Company, including expanding the Company’s portfolio of subsidiaries specializing in the research and development of psychedelic compounds, as well as an expansion in the spectrum of methods Core One’s scientists can employ in producing psychedelic-based formulations.
Successful employment of Awakened’s patent-pending production technologies could also result in revenue generation for the Company, as some of the patent-pending methods, and resultant analogues produced, could be sold, and shipped without Controlled Drug and Substances Act (CDSA) restrictions.
The Transaction also increases the Company’s catalogue of psychedelic compounds available for clinical and medicinal research, including an array of prodrugs that would be produced from the new technologies.
Normally designed to improve bioavailability, a prodrug is described as a medication or a compound that is metabolized into a pharmacologically active drug after administration. For psychedelic compounds, prodrugs would contain the same medicinal benefits associated with psychedelics while eliminating the hallucinogenic effects.
Awakened is led by Dr. Tony Durst, an Emeritus Professor at the University of Ottawa, and renowned specialist in medicinal and natural product chemistry. Dr. Durst is a co-inventor of 14 patents applications, 14 awarded. He is a founder of Souroubea Botanicals Inc., and a 2013 Queen Elizabeth 60th Silver Jubilee medal recipient.
The addition of Dr. Durst, along with his established relationship with the University of Ottawa, further compliments Core One’s strong scientific team led by Dr. Robert Hancock, CEO of the Company’s subsidiary Vocan Biotechnology, and establishes a relationship with another one of Canada’s leading scientific research universities, as the Company continues to build an impressive roster of leading scientific researchers.
“This acquisition is yet another illustration of Core One’s commitment to become a leading biotechnology and life sciences enterprise in the psychedelic sector. With the addition of Awakened to the Core One family, the Company has increased expansion opportunities, furthered its psychedelic products portfolio, and secured potential for immediate revenue generation. All of these factors lead toward greater market share for the Company, and to increased shareholder value,” stated Joel Shacker, Core One CEO.
Transaction Details
The Transaction was completed pursuant to a share purchase agreement among the Company, Awakened and the shareholders of Awakened (the “Definitive Agreement”) dated effective February 9, 2022. Pursuant to the Definitive Agreement, and in consideration for the acquisition of Awakened, the Company has issued 7,030,000 common shares and 1,458,200 share purchase warrants entitling the holders to acquire an equivalent number of common shares of the Company at a price of $1.15 per share until February 4, 2024.
The Company is at arms-length from Awakened and its shareholders. The Transaction neither constitutes a fundamental change nor a change of business for the Company, nor has it resulted in a change of control of the Company within the meaning applicable securities laws and the policies of the Canadian Securities Exchange. In connection with completion of the Transaction, the Company has issued 140,600 common shares to certain third-parties who provided administrative services necessary to complete the Transaction.
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.
AskMuncher
2 years ago
$CLABF Core One Labs’ Successful Patent Application Filing for Protection of its Biosynthetic Production System for Psilocybin Marks a Significant Milestone for the Progression of Psychedelic Health Care
Press Release | 02/09/2022
VANCOUVER, British Columbia, Feb. 09, 2022 (GLOBE NEWSWIRE) -- Core One Labs Inc. (CSE: COOL), (OTC: CLABF), (Frankfurt: LD6, WKN: A3CSSU) (the “Company” or “Core One”) is pleased to announce that following its milestone announcement that its wholly-owned subsidiary, Vocan Biotechnologies Inc. (Vocan), has successfully engineered a novel recombinant production system for biologically synthesized (biosynthesized) psilocybin, and has filed for patent protection of its groundbreaking intellectual property (see Core One’s press release dated January 21, 2022), its team of scientist continue to make progress and are in the process of optimizing at scale production capacity.
Scaled up production of the Company’s groundbreaking biosynthetic psilocybin, and an approval of the Company’s patent application will further Core One and Vocan’s journey to becoming a significant player in the provision of cost effective psilocybin and has the potential to significantly change the face of psychedelic-based mental health care and patient access to alternative treatments around the globe.
Psilocybin is a psychedelic compound that is showing enormous promise in treating addiction and many mental health disorders; and the success of this game-changing patent propels Core One to the forefront of the rapidly expanding psychedelics industry, eliminating barriers for psychedelic treatments and research such as exorbitant costs and lack of availability and supply.
Currently, most companies use chemically synthesized psilocybin as the only available cGMP compliant product that is available in large volumes. The chemical process carries significant costs and is less efficient when compared to a biologically derived psilocybin.
Under the leadership of Dr. Jan Burian, Vocan’s Chief Scientist, and Dr. Robert EW Hancock, Vocan’s CEO, the team’s ground-breaking psilocybin production method utilizes the well-established industrial process of fermentation and therefore can be scaled up while consistently producing a high-quality cGMP product. The process turns bacteria into a biological factory to produce synthesized psilocybin, cutting cost and time immensely.
With Vocan’s optimized recombinant production system, the subsidiary successfully tested its proof-of-concept for the manufacturing of biosynthetic psilocybin suitable for use in future scale-up and is awaiting patent approval. The application includes claims that Vocan’s technology will enable the production of cGMP API grade psilocybin, which can be used by pharmaceutical companies, API manufacturers and organizations conducting clinical trials and, where permitted by law, consumers, and patients. Vocan’s crucial breakthrough anticipates a rippling effect that could rearrange the industry’s landscape hereafter.
“This breakthrough in psilocybin production, can shift the entire industry. By making psychedelic treatments cost effective, this could make treatment more widely available to patients globally. Additionally, our patent on this process, gives us first mover advantage in this significant and emerging space,” 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.
Man6677
2 years ago
AWESOME NEWS AFTERHOURS FRIDAY!
Core One Labs Announces Successful Proof of Concept and Files Patent for Protection of its Recombinant Production System for Optimized Biosynthesis of Psilocybin
January 21, 2022
Vancouver, British Columbia, Canada – January 21, 2022 – Core One Labs Inc. (CSE: COOL), (OTC: CLABF), (Frankfurt: LD6, WKN: A3CSSU) (“Core One” or the “Company”) is pleased to announce that its wholly owned subsidiary, Vocan Biotechnologies Inc. of Victoria, British Columbia, has optimized its recombinant production system (the “System”), successfully testing its proof of concept for the biosynthesis of psilocybin suitable for use in future scale-up and has filed a patent application with the United States Patent and Trademark Office (“USPTO”) titled “Production of Psychedelic Compounds” for protection of its novel psilocybin production system. Psilocybin is a psychedelic compound that is showing enormous promise in treating addiction and depression.
The Company’s team of scientists at Vocan have constructed optimized DNA sequences that can produce enzymes replicating the biosynthetic pathway used by Psilocybe mushrooms. This allows bacteria to become factories for psilocybin production. Under the leadership of Dr. Jan Burian, Chief Scientist, and Dr. Robert EW Hancock, Vocan CEO, Vocan scientists have used DNA modeling to improve and optimize design and produce unique DNA sequences that improve the efficiency and expression of these enzymes, allowing for rapid and cost-effective psilocybin production.
Currently, most companies use chemically synthesized psilocybin as the only available cGMP compliant product that is available in large volumes. The chemical process carries significant costs and is less efficient when compared to a biologically derived psilocybin. Vocan’s biosynthetic process retains the stereochemistry of the natural psilocybin molecules found in hallucinogenic mushrooms, which are known to have a more positive effect than the chemically synthetized counterpart. However, these tiny mushrooms are not an efficient source of psilocybin since the amount produced is quite small and variable.
Vocan’s successful production system engineers bacteria incorporating optimized biosynthetic genes from the Psilocybe mushroom and other species and enables the bacteria to act as a biological factory and synthesize psilocybin.
Additionally, the Company’s team of scientists hypothesise that by using a gene mimicry process and simple chemical modifications to enable the creation of bioidentical compounds, there is potential to produce other known and novel analogs of psilocybin and related psychedelics. The analog compounds may potentially be more effective, targeted, and safer than the natural compounds.
The patent application entitled “Production of Psychedelic Compounds” includes claims that Vocan’s technology will enable the production of cGMP API grade psilocybin, which can be used by pharmaceutical companies, API manufacturers and organizations conducting clinical trials and, where permitted by law, consumers, and patients. Vocan’s method of psilocybin production will provide more affordable access to organizations looking to acquire cGMP API grade psilocybin. Vocan’s psilocybin production method utilizes the well-established industrial process of fermentation and thus can be scaled up while consistently producing a high-quality cGMP product.
“I am very pleased to say that we are fulfilling our promise to our shareholders and to the medical and research sectors, in general, that we have successfully produced biosynthesized psilocybin. Our team of scientists continue to achieve significant and astounding scientific milestones. Our goal is to play a significant role in furthering mental health research and the benefits of psychedelic medicines, and our cost-effective psychedelic compounds will go a long way towards allowing otherwise cost prohibitive medicines to be widely used,” Stated Dr. Hancock, Chairman of the Company, and CEO of Vocan. “This successful proof of concept for development and production of cost effective and stereochemically sound psilocybin puts Core One in a very unique position. It not only potentially positions the Company as first to market with a biosynthetic psychedelic, it positions us to become market-leaders with regards to cost efficiency, as well.
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 FURTHER INFORMATION:
Email: info@core1labs.com
Telephone: 1-866-347-5058
FOLLOW US:
Website: https://core1labs.com/
Twitter: https://twitter.com/Coreonelabs
Facebook: https://www.facebook.com/Core-One-Labs-Inc-100969251278277/
LinkedIn: https://www.linkedin.com/company/core-one-labs
Instagram: https://www.instagram.com/coreonelabsinc/
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.
CLABF $$$$$
Sam Dan
3 years ago
COOL MANAGEMENT OBVIOUSLY HAS PLANS TO BUILD A COMPANY THAT
WILL BECOME REVENUE POSITIVE IN MUCH EARLIER TIME FRAME THAT ONE WOULD NORMALLYEXPECT. WE BETTER TAKE A
CLOSER LOOK OF THE POTENTIAL AND TIMEFRAME.
"COOL (the "Company") is pleased to announce that its wholly owned subsidiary Vocan Biotechnologies Inc. has entered into a term sheet with Vocan Brazil Biotechnologies Inc. ("Vocan Brazil") for the licensing of its proprietary technology. Vocan Brazil is owned by Brazilian entrepreneur Mr. Marcelo Galvo, an arm's length party.
The Company has licensed its proprietary technology to make, use and sell biosynthetic psilocybin and all commercial products derived from such technology within the exclusive territory of Brazil. Vocan Brazil is a fully funded pharmaceutical company that intends to begin clinical trials with biosynthetic psilocybin once Core One Labs has filed its patent. The trials will be the first stage in bringing a psilocybin drug to market. Brazil has one of the most progressive set of laws on psychedelics, as they have been historically used as part of their culture.
Mr. Galvo is the former CEO of Canopy Growth Brazil, and founder of OnixCann, a Brazilian health tech company. OnixCann has a full range of operations and has partnerships to develop products, conduct clinical trials and register medical cannabis and pharmaceuticals in Brazil. OnixCann has a joint venture with Australian multinational MGC Pharma and is currently conducting a Phase 3 clinical study in Brazil for a drug to combat COVID-19 and will be conducting two (2) cannabis-based Phase 3 clinical trials in 2022. OnixCann aims to help Brazil keep pace with the global development trend by offering reliable information to healthcare professionals, providing patients with access to healthcare and healthcare professionals , high quality medications, and improving the overall quality of life of patients.
"Licensing Core One's technology, to be used for production and clinical trials in Brazil is a major step for us." Said Marcelo Galvo, CEO of Vocan Brazil. "I believe that Core One's technology is going to provide us with a competitive advantage in the psychedelics space, and this partnership gives them access to an untapped South American market."
Brazil operates one of the largest universal health care systems in the world, providing free services to over 210 million people.[1] In Latin America, Brazil's population has the highest rates of disability caused by depression at 9.3% and anxiety at 7.5%.[2] Additionally Brazil has a large, diverse, and rapidly growing population with high treatment-nave with shortened clinical trial approval times giving the company a first mover advantage. This will allow the company to establish itself early, while collecting important information from clinical trials. The revenue received from the royalties on the sales Vocan Brazil makes, provides an additional revenue stream for Core One Labs, without having to take on additional costs.
The licensing arrangement will have a term of 60 months, subject to an automatic extension for a term of a further 60 months if royalty payments are $1 million or more during the initial term. A licensing fee of $250,000 is payable annually upon the market launch of any associated product or products relating to the licensed technology. $250,000 shall be deposited for the first year of expenses, made in quarterly installments of $62,500. $250,000 is to be deposited at the beginning of the second year and each year onward, of which all such deposited Licensing Fees shall be credited to the first year of royalty payments. 12.5% of net profits received from the sale of licensed products in the first year, 10% of net profits from the sale of licensed products in the second year, and 7% of net profits received from the sale of licensed products in the third year.
The proposed transaction is subject to various conditions, including negotiation of definitive documentation and approval from the Boards of Directors of Vocan Biotechnologies Inc. and Vocan Brazil.
"We are extremely excited about partnering with an established pharmaceutical company, that will be funding the development of products using Vocan's proprietary technology. Mr. Galvo's track record as an accomplished biotech entrepreneur positions Vocan Brazil to be a leader in the psychedelic space in Brazil. Mr. Galvo's commitment to this project demonstrates his confidence in Dr. Hancock's ability to execute on producing biosynthesized psilocybin in a way that revolutionizes the psychedelic industry." stated Joel Shacker CEO of the Company."
Sam Dan
3 years ago
PATENTS ARE VERY IMPORTANT PROTECTION OF THE MODUS OPERANDA OF A CHEMICAL COMPANY. IT ASSURES INDEPENDENT VALUE OF THE PRODUCTS THE COMPANY IS INCORPORATING IN THE TREATMENT OF THEIR TARGET SYMPTOMS. THUS REVENUE SOURCE IS PROTECTED.
"Core One Labs") a biotechnology research and development life sciences enterprise focused on advancing psychedelic medicines to market, is pleased to announce preparations for filing a patent application encompassing its proprietary biosynthetic psilocybin production system.With the completion of its initial studies, Core One's subsidiary has assembled the necessary data from its research and development program on biosynthetic psilocybin production systems in order to commence the process of preparing and filing its first patent application with the United States Patent and Trademark Office (USPTO).The initial filing is the first in a series of upcoming patent filings aimed at protecting valuable intellectual property that underpins the proprietary fermentative production process for active pharmaceutical ingredient (API) grade psilocybin.The Company's research team is continuing to develop new strategies to optimize expression of its proprietary DNA expression system that encodes the enzymes responsible for native psilocybin production in psychedelic mushrooms. Core One Labs intends to expand its patent portfolio with each milestone achievement as it works toward maximizing the output of psilocybin from its process development.Joel Shacker, CEO of Core One Labs states, "We are proceeding towards the filing of several patent applications that will help safeguard our development efforts and protect the inherent value generation our work represents. The science that supports our extended research into biosynthesized psilocybin introduces multiple scenarios for the creation of different strains and potencies. These formulations hold promise for the manufacture of formulations offering enhanced and targeted efficacy. Our advanced production methods are designed to cut costs and production timelines which, combined with our scientific advancements, represent fundamental drivers propelling the company towards near term goals and opportunities. Protecting our valued intellectual property is critical to our strategy for success, and our patent efforts are of significant importance to the growth of the Company and the concurrent creation of shareholder value."About Core One Labs Inc. Core One Labs 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 Labs 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 Labs also holds an interest in medical clinics which maintain a combined database of over 200,000 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 ShackerChief Executive OfficerFOR MORE INFORMATION, PLEASE CONTACT:info@core1labs.com1-866-347-5058Cautionary 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 Labs 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 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 does not deal with psychedelic substances, except within laboratory and clinical trial settings conducted within approved regulatory frameworks".
"
Sam Dan
3 years ago
MANAGEMEN SHOWS THEY HAVE PLANS FOR THEIR DEVELOPMENT OF SIGNIFICANT PSILOCYBIN PRODUCTION. ENCOURAGING THAT THEY ARE QUICKLY MOVING FORWARD.
" (the "Company") is pleased to announce its wholly-owned subsidiary Vocan Biotechnologies Inc. ("Vocan") has assembled the necessary equipment, which will allow the laboratory to commence the process of recombinant production of psilocybin. The process that engineers bacteria incorporating optimized biosynthetic genes from the Psilocybe cubensis mushroom, will enable the bacteria to act as a biological factory and synthesize psilocybin that is cost effective using simple building blocks.Vocan's platform can make the active compounds that occur naturally, by using a gene mimicry process and simple chemical modifications to enable the creation of bioidentical compounds as well as known and novel analogs. The analog compounds could prove to be more effective, targeted and safer.Vocan has now received and assembled equipment required to move forward on its plan to produce biosynthesized psilocybin. Due to the cost and long lead times, this is a critical milestone in the company's plan. The equipment enables Vocan to improve on the current work being conducted in the lab and puts Vocan ahead of schedule on its plan to begin the recombinant production of psilocybin."Vocan's recombinant production of psilocybin is a significant improvement over the current methods of psilocybin production. Reducing both the cost and time needed to produce and purify psilocybin to only a few days, compared to much longer and more expensive methods for whole mushroom extraction. Having the equipment purchased and assembled positions Vocan to execute on its objectives in the short term." Stated Joel Shacker CEO of the Company.Further to the Company's press release dated January 15, 2021 announcing the closing of its sale of non-core assets, the Company wishes to correct that it has issued a total of 500,000 common shares as an administrative fee to three arms-length third-parties who assisted with facilitating such sale, not 350,000 shares to two parties, as previously announced.About Core One Labs Inc. Core One Labs Inc. is a biotechnology research and development 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 biosynthesized 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.Joel ShackerChief Executive OfficerCautionary
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. 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.
Sam Dan
3 years ago
A MAJOR ACHIEVEMENT BY THE COMPANY!! DELIVERY OF SIGNIFICANTLY CONTROLED PSILOCYBIN IS A MAJOR BREAKTHROUGH FOR MENTAL HEALTH TREATMENT!!THIS SHOULD GIVE GREAT CREDIBILITY TO THE COMPANY.
"Core One Labs Announces Breakthrough in Solving Psilocybin Dosing Problems by Introducing Biosynthetic Psilocybin to its Patented Thinstrip Delivery Method
VANCOUVER, BC / ACCESSWIRE / January 12, 2021 / Core One Labs Inc. (CSE:COOL)(OTC PINK:CLABF)(Frankfurt:LD62) (WKN: A2P8K3) (the "Company") is pleased to announce its plans to initiate another intellectual property strategy that will utilize its patented transmucosal thinstrip delivery method ("thinstrip delivery method") in combination with its proprietary biosynthetic psilocybin, developed by its wholly-owned subsidiary, Vocan Biotechnologies Inc. ("Vocan").
The Company's existing thinstrip delivery method has been patented for use with THC and CBD (CannaStripsTM) and has the potential for use with all naturally occurring compounds, including psilocybin
Through cutting-edge research by the Company's team at Vocan, a cost effective method for producing biosynthesized psilocybin has been developed. This low cost method of psilocybin production, in combination with the incorporation of psilocybin into the Company's thinstrip technology, will result in an innovative and first-to-market delivery method of psilocybin for medical purposes.
Core One's objective in developing the psilocybin thinstrips is to assist with the delivery of revolutionary psychedelic treatment methods to address mental health conditions such as depression, anxiety and addictions.
Methods of accurate dosing and effective delivery of psilocybin have gone relatively under-researched, and current methods utilized by companies using traditional oral delivery methods can cause hallucinations, digestive issues, and inaccurate dosages resulting in undesired side effects. The Company's patented sublingual transmucosal (orally dissolvable) thinstrip technology, for the delivery of psilocybin, will aim to address these issues, and anticipates the provision of many potential advantages and benefits such as the rapid dissolving and onset of action to the bloodstream, as well as concentration control and time released dosing. Thinstrip delivery technology is a natural, non-toxic, biodegradable, biocompatible composite, which is user friendly. The sublingual polymer thinstrip, with nano particulated active ingredients, skips the digestive system and is absorbed directly into the bloodstream through the membranes in the mouth, resulting in optimum bioavailability (absorption percentage) of the active ingredients. Direct delivery to the bloodstream means that dosages can be less potent with the same affect.
According to the World Health Organization, almost 350 million people worldwide were affected by depression in 2016. Common antidepressant drugs help maintain the balance of various hormones and chemicals in the brain which assists in the treatment of depression.
The Center for Disease Control and Prevention (CDC), reported that the percentage of people above the age of 12 years using antidepressants in the U.S. rose 12.7% in 2011-2014. According to MedGadget, the antidepressant drug market was valued at $13.69 billion in 2018 and is expected to reach $15.88 billion by 2025. The CDC said that in the U.S., antidepressants were the most commonly prescribed drugs in 2013 and from over 16 million long term users, around 70% are female.
"One of the critical issues surrounding the use of psilocybin is accurate dosing in oral delivery methods. Our breakthrough technology is a game changer in the psychedelic space and has the potential to revolutionize the way patients receive psychedelics as medicine and reduce over concentrations and resulting adverse effects." stated Dr. Robert E.W. Hancock, Executive Chairman of the Company.
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 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."
Sam Dan
3 years ago
THE COMPANY COMPLETES ACQUISITION OF MAJOR SIGNIFICANCE! WE MUST WAIT FOR THE SUCCESSFUL PRODUCTION OF PSILOCYBIN WHICH WILL BE OF GREAT SIGNIFICANCE TO THE FUTURE OF THE COMPANY.
"Further to its press release of Dec. 24, 2020, Core One Labs Inc. has completed the acquisition of all of the outstanding share capital of Vocan Biotechnologies Inc., effective Dec. 31, 2020.
Vocan is a Canadian-based genetic engineering and biosynthesis research firm developing a proprietary low cost production method to biosynthesize GMP (good manufacturing practices) API-grade psilocybin. Utilizing a Health Canada-certified Controlled Drugs and Substances Dealer's Licence, Vocan's fully operational research laboratory in Victoria, BC is seeking to begin Stage 1 production in early 2021.
Vocan's mission is to use science and proprietary technology to advance the knowledge of natural-based medicines for the treatment of mental health illnesses, and addictions. Vocan's team of scientists, specializing in protein expression and biosynthetic fermentation, have discovered a patentable method of producing psilocybin, the active ingredient in psychotropic mushrooms. This technology will enable the production of GMP (good manufacturing practices) API-grade psilocybin, which can be used by pharmaceutical companies, API manufacturers and medical research organizations conducting clinical trials. Vocan's management expects that the unique optimized DNA (deoxyribonucleic acid) construct and producer strain will allow for efficient, cost-effective commercial scale production. Psilocybin production methods developed by Vocan's innovative technology will allow access to affordable GMP API-grade psilocybin.
Vocan's team of high-calibre scientists includes Dr. Robert E.W. Hancock OC, OBC, FRSC, a Canada Research Chair holder in Health and Genomics, a Director of the Centre for Microbial Diseases and Immunity Research and a holder of the Order of Canada for his contributions in these and other fields.
ACQUISITION PROVIDES CORE ONE LABS FULLY OPERATIONAL LABORATORY AND ACCESS TO CONTROLLED DRUGS AND SUBSTANCES DEALER'S LICENSE
The market for psychedelic derived medicines and therapies is estimated to be as high as USD$300 billion worldwide. Over the past decade, growing societal awareness and acceptance of mental disorders and addiction as real diseases has accelerated the push for new and innovative treatments using psychedelics, including psilocybin. According to a study published in the Journal of Clinical Psychiatry, treatment-resistant depression (TRD) cost employers upwards of $48 billion each year in the US alone.1 This cost is a result of direct increases in health care costs for the employer and both a decrease in productivity and an increase in absenteeism of employees who suffer from TRD. The potential for psilocybin products extends beyond just the existing market for anti- depressant drugs. Psilocybin has also demonstrated therapeutic benefits that ease existential anxiety in those with terminal diseases and alcoholism. Alcohol dependence places third in a list of preventable deaths in the US alone, costing the country $249 billion in 2010.
"The acquisition of Vocan gives the Company all the necessary licensing and research facilities to continue the development of psilocybin as an alternative therapy. Vocan's leading research team, led by Dr. Hancock, combined with its intellectual property to produce and patent biosynthesized API grade psilocybin, positions Core One as a leader in the psychedelic space. If Vocan can produce psilocybin at scale, it has the potential to provide products at a lower cost than every other company, disrupting the entire industry.
The addition of Vocan positions the Company as a vertically integrated industry leader, with production facilities, patient access and proprietary delivery methods," stated Joel Shacker CEO of the Company.
Transaction Structure
The Transaction was completed pursuant to a share purchase agreement among the Company, Vocan and the shareholders of Vocan (the "Definitive Agreement") dated December 23, 2020. Pursuant to the Definitive Agreement, and in consideration for the acquisition of Vocan, Core One issued (i) 23,500,000 common shares (the "Consideration Shares"); and (ii) 4,000,000 common share purchase warrants (the "Consideration Warrants") entitling the holders to acquire a further 4,000,000 common shares of Core One for $0.30 per share.
In addition to the Consideration Shares and the Consideration Warrants, the existing shareholders of Vocan are entitled to receive a bonus of up to 5,000,000 common shares of Core One (the "Bonus Shares"). The Bonus Shares will be issuable in two tranches, of which 2,500,000 will be issuable upon the successful synthesis of psilocybin, and a further 2,500,000 will be issuable upon the filing of a patent for such synthesis method in at least one jurisdiction.
The Consideration Shares are subject to a voluntary pooling agreement from which:
(a) ten (10%) percent will be released upon completion of the Transaction;
(b) a further fifteen (15%) percent will be released on April 31, 2021;
(c) a further fifteen (15%) percent will be released on June 30, 2021; and
(d) a further ten (10%) percent of the Consideration Shares will be released on July 31, 2021, and then a further ten (10%) percent on each successive
The Company is at arms-length from Vocan and its shareholders. The Transaction neither constitutes a fundamental change nor a change of business 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. In connection with the completion of the Transaction, the Company has issued 235,000 common shares to an arms-length third-party who assisted with facilitating the Transaction.
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."
Sam Dan
4 years ago
Today's news release is interesting. Means if a shareholder put the shares in a safe place and every 5 years take a look and see what is going on. Not the first one for me.
Core One is pleased to announce it has entered into a Letter of Intent (the "LOI") dated effective October 1, 2020 to acquire all of the outstanding share capital of Vocan Biotechnologies Inc. ("Vocan").
Vocan is a genetic engineering and biosynthesis research firm developing a proprietary fermentation system for the production of psilocybin API. Vocan's mission is to use science and technology to advance the knowledge of natural-based medicines for the treatment of mental health illnesses, including addictions. Vocan's team of scientists, specializing in protein expression and biosynthetic fermentation, have discovered a patentable method of producing psilocybin, the active ingredient in psychotropic mushrooms, and its technology will produce cGMP API grade psilocybin, which can be used by pharmaceutical companies, API manufacturers and medical research organizations conducting clinical trials. Vocan's management expects that the unique optimized DNA construct and producer strain will allow for time efficient and cost-effective cGMP API grade psilocybin at commercial scale. Psilocybin production methods developed by Vocan could provide more affordable access to organizations looking to acquire GMP API grade psilocybin.
CEO and Founder of Vocan Biotechnologies
Dr. Robert E.W. Hancock, CEO and Chairman of Vocan, is a leading researcher at the University of British Columbia, a Killam Professor of Microbiology and Immunology, and a Canada Research Chair in Health and Genomics. He is a co-founder of several companies, both private and public, including Migenix, Inimex, ABT Innovations and Sepset Biotherapeutics. He has won major health research awards and is an Officer of the Order of Canada. Dr Hancock will continue as CEO of Vocan following completion of the acquisition.
Dr. Jan Burian, Founder and CTO of Vocan, is a successful biochemist and molecular biologist with extensive knowledge and an exclusive skill set in fermentative API-grade research, development and production. He has been cited in numerous academic publications. Dr. Burian previously held a site directorship with Pfizer Canada where he was responsible for a vaccine manufacturing facility that relied on his advanced fermentation techniques.
Dr. Hancock and Dr. Burian first began collaborating over twenty years ago and together bring a unique combination of broad scientific know-how and skill as they get set to take Vocan's exclusive psilocybin production capabilities to commercial scale.
"We are honored and privileged to work with scientists of Dr. Hancock's and Dr Burian's caliber", Joel Shacker, Chief Executive Officer of the Company stated. "Combined with the Company's existing infrastructure, and the integration of its intellectual property related to psychedelic treatments and novel drug therapies, an acquisition of Vocan, and its talented research team, only furthers the Company development in the alternative psychedelics medicine market."
Terms of the LOI
Under the terms of the LOI, in consideration for all of the outstanding share capital of Vocan, the Company is expected to issue 23,500,000 common shares (the "Consideration Shares"), and 4,000,000 common share purchase warrants (the "Consideration Warrants"), to the existing shareholders of Vocan. Each Consideration Warrant will be exercisable to acquire an additional common share of the Company at a price of $0.30 for a period of twenty-four months.
In addition to the Consideration Shares, and the Consideration Warrants, the existing shareholders of Vocan will also be eligible to receive bonus payments of up to 5,000,000 common shares (the "Bonus Shares"). The Bonus Shares will be issuable in two tranches, of which 2,500,000 will be issuable upon the successful synthesis of psilocybin, and a further 2,500,000 will be issuable upon the filing of a patent application for such synthesis method in at least one jurisdiction.
It is anticipated that a portion of the Consideration Shares will be subject to the terms of a pooling arrangement, during which time they not be transferred or traded without the prior consent of the Company. The Consideration Shares will be released from the arrangement in tranches over a period of nine months following completion of the acquisition.
Completion of the acquisition of Vocan remains subject to a number of conditions, including the satisfactory completion of due diligence, receipt of any required regulatory approvals and the negotiation of definitive documentation. The acquisition cannot be completed until these conditions have been satisfied.
The Company is at arms-length from Vocan, and each of its shareholders. The acquisition of Vocan is not expected to constitute a fundamental change for the Company, nor is it expected to result in a change of control of the Company, within the meaning of applicable securities laws and the policies of the Canadian Securities Exchange. No finders fees or commissions are payable in connection with the acquisition of Vocan. An administrative fee of 470,000 common shares is owing to a third-party consultant who will be assisting with completion of the acquisition.
About Core One Labs Inc.
Core One Labs Inc. is a research and technology company with a state-of-the-art cannabis production and packaging facility located in Southern California. The Company's technology produces infused strips (like breath strips) that are not only a safer, healthier option to other forms of delivery but also superior bioavailability of cannabis constituents. The technology provides a new way to accurately meter the dosage and assure the purity of selected product. The Company holds an interest in walk-in medical clinics located in Vancouver and West Vancouver, British Columbia which maintain a database of over 200,000 patients combined. The Company intends to further develop its product offerings through research and development in these clinics, including the integration of intellectual property related to psychedelic treatments and novel drug therapies."
Sam Dan
4 years ago
The Announcement that Management can now trade their shares leaves me ambivalent. 1. all financials have not been filed yet so shareholders don't have full knowledge [not unusual for this company]2 Management may be more encouraged to produce positive developments to increase the value of the shares
Core One Labs Inc. (CSE:COOL)(OTCQX:CLABD)(Frankfurt:LD62, WKN:A2P8K3) (the "Company") is pleased to announce that effective August 26, 2020 (the "Effective Date"), the British Columbia Securities Commission (the "BCSC") has issued an order revoking its cease trade order, originally issued in respect of the securities of the Company on July 15, 2020.
On August 18, 2020, the Company filed (i) its audited annual financial statements, annual management's discussion and analysis, and related certifications for the years ended December 31, 2019, and on August 24, 2020, the Company filed (ii) its interim financial statements, interim management's discussion and analysis, and related certifications for the three months ended March 31, 2020 (collectively, the "Financial Disclosure Documents"). The Financial Disclosure Documents are available for review online under the Company's profile on SEDAR (www.sedar.com). Following the filing of the Financial Disclosure Documents, the Company
is up-to-date with its continuous disclosure obligations and has met all conditions required by the BCSC for revocation of the cease trade order.
The Company is continuing to work diligently on the finalization of the Interim Filings and estimates that it will file the Interim Filings on or before October 14, 2020. In connection with utilizing the temporary relief and extensions for issuers provided pursuant to BCI 51-517, the Company confirms that, until such time as the Interim Filings have been filed, the Company's management and other insiders are subject to an insider trading black-out that reflects the principles of Section 9 of National Policy 11-207 - Failure-to-File Cease Trade Orders and Revocations in Multiple Jurisdictions.
The Company reports that other than as set forth in this news release, since the filing of the Company's interim financial statements for the three months ended March 31, 2020, there have been no material business developments other than those that have been previously disclosed in the Company's news releases and filings.
Sam Dan
4 years ago
The deal is done. Now we must wait and see what the new Board has planned,
"(CSE:COOL)(OTCQX:CLABD)(Frankfurt:LD62, WKN:A2P8K3) (the "Company") is pleased to announce that it has completed the acquisition (the "Acquisition") previously announced on June 5, 2020, of all of the outstanding share capital of Rejuva Alternative Medicine Research Centre Inc. ("Rejuva") and one-quarter of the non-voting participating share capital of Shahcor Health Services Inc. ("Shahcor").
Rejuva and Shahcor are privately held companies which operate walk-in medical clinics located in Vancouver and West Vancouver, British Columbia, and maintain a database of over 200,000 patients, combined. The Company intends to further develop its product offerings through research and development in these clinics, including the integration of intellectual property related to psychedelic treatments and novel drug therapies. The Company will aim to prove increased efficacy and bioavailability of existing and novel drugs, including psilocybin, with its proprietary delivery methods currently utilized by its CannaStrip technology. Bioavailability of cannabis constituents in the Company's CannaStrips infused strip allow for more efficient absorption of the active ingredients, which is an optimum delivery system for microdosing. Medical patients who want to receive alternative health treatments can use this less invasive way of treatment to help alleviate their symptoms and complications. Core One and Rejuva plan to advance psychedelic-derived treatments and establish a portfolio of intellectual property, through human clinical trials, to build a robust drug development platform in the psychedelic medicine space.
The Acquisition was completed pursuant to share exchange agreements, dated effective July 9, 2020, entered into with each of the shareholders of Rejuva and Shahcor. In consideration for all of the outstanding share capital of Rejuva, the Company has issued 23,000,000 common shares to the existing shareholders of Rejuva. In consideration for one-quarter of the non-voting participating share capital of Shahcor, the Company has made a one-time cash payment of $400,000 and has issued 5,555,556 common shares to the existing shareholders of Shahcor.
The existing shareholders of Shahcor will also be eligible to receive a one-time bonus payment of $1,000,000 (the "Bonus Payment") in the event Shahcor achieves monthly recurring revenue of at least $30,000 in the three months following completion of the Acquisition. At the election of the Company, the Bonus Payment will be payable in cash, or common shares of the Company, based upon the volume-weighted average closing price of the common shares of the Company on the Canadian Securities Exchange in the ten trading days prior to the issuance of the shares.
The Company is at arms-length from each of Rejuva, Shahcor, and their respective shareholders. The Acquisition does not constitute 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. In connection with completion of the Acquisition, the Company has issued 2,300,000 common shares (the "Finders Fee Shares") to an arms-length third-party that assisted in introducing the Acquisition to the Company. The Company has also issued 571,111 common shares (the "Administrative Fee Shares") and paid $8,000 as an administrative fee to a consultant who assisted with completion of the Acquisition. The Finders Fee Shares are subject to a statutory hold period, expiring on November 11, 2020, in accordance with applicable securities laws.
About Core One Labs Inc.
Core One Labs Inc. is a technology company that licenses its technology to a state-of-the-art production and packaging facility located in Southern California. The Company's technology produces infused strips (like breath strips) that are not only a safer, healthier option to other forms of delivery but also superior bioavailability of cannabis constituents. Some strips will also include supplemental co-active ingredients such as nutraceuticals, vitamins and peptides. The technology provides a new way to accurately meter the dosage and assure the purity of selected product."
Sam Dan
4 years ago
Consolidation 2 shares in to 1 on July 9. Then new management must work their magic.
"COOL)(OTCQX:CLABF)(Frankfurt:LD6, WKN:A14XHT) (the "Company") is pleased to announce that its common shares will begin trading on a post-consolidated basis at the opening of markets on July 9, 2020 under the existing ticker symbol "COOL".
As previously announced, the Company will be consolidating (the "Consolidation") its outstanding common share capital on the basis of two (2) pre-Consolidation shares for every one (1) post-Consolidation share. As of the date of this news release, the Company has 79,081,741 common shares issued and outstanding. Following completion of the Consolidation, it is anticipated that the Company will have approximately 39,540,871 common shares issued and outstanding, not including rounding adjustments for any fractional amounts resulting from the Consolidation. The exercise price and number of common shares issuable upon the exercise of the Company's outstanding options and warrants will be proportionally adjusted upon completion of the Consolidation in accordance with the terms thereof.
The Consolidation will be completed by way of "pushout", without a letter of transmittal. Upon completion of the Consolidation, all pre-Consolidation share certificates will be considered null and void and the Company's shareholders of record will receive Direct Registration Advice (DRS) statements with respect to the number of post-Consolidation shares held by such shareholders of record. Shareholders holding shares through brokers, banks or other intermediaries should consult with their broker, bank or other intermediary with respect to their post-Consolidation shareholdings.
The Company also announces that upon completion of the Consolidation it will grant a series of 2,100,000 incentive stock options (each, an "Option") to certain consultants and employees of the Company. Each Option will vest immediately upon grant, and will be exercisable to acquire a post-Consolidation common share of the Company, at a price of $0.67 per share, for a period of sixty months."
Sam Dan
4 years ago
From News Release (C:CGOC) Cannabis Growth Opportunity Corp
Mr. Sean Conacher of Cannabis Growth reports
CGOC ANNOUNCES CLOSING OF CORE ONE LABS DEBENTURE FACILITY AND SHARE-SWAP
Cannabis Growth Opportunity Corp. and Core One Labs Inc. have closed their previously announced convertible debenture facility and share swap. Core One is a technology company that licenses its technology to a state-of-the-art production and packaging facility located in Southern California. Core One's technology produces infused strips that provide a new way to accurately meter the dosage and assure the purity of the selected cannabinoid constitutes.
Pursuant to the terms of a subscription agreement, the Company has committed to advance up to the principal amount of $1,500,000 (the "Principal") through a non-brokered convertible debenture (the "Convertible Debenture") offering (the "Offering"). The Principal amount of the Convertible Debenture is to be advanced in three equal tranches of $500,000, with part of the first tranche released today (and the balance expected to be advanced this week), and each subsequent tranche to be released upon completion of mutually agreed operational milestones. The Convertible Debenture shall mature on December 31, 2022 and shall bear interest at 12% per annum, calculated and accrued monthly in arrears and due on maturity. The Convertible Debenture is to be secured by a general security agreement covering all of Core One's personal property upon the Company advancing the total Principal amount of the Convertible Debenture. Furthermore, the Principal amount of the Convertible Debenture and any accrued but unpaid interest shall be convertible at the option of the Company into common shares of Core One ("Core One Shares") at anytime prior to maturity at a price of $0.40 per share.
In connection with the Offering, the Company also received 1,500,000 common share purchase warrants of Core One (the "Core One Warrants") that shall vest in three equal tranches upon closing of each advance under the Convertible Debenture. The Core One Warrants shall be exercisable until December 31, 2022 at a price of $0.60 per share. Furthermore, Core One may accelerate the expiration date of the Core One Warrants to a period of 30 days following written notice to the Company in the event that the Core One Shares close at or above $1.50 per share for a period of 10 consecutive trading days on the Canadian Securities Exchange.
In addition, the Company and Core One also entered into subscription agreements to exchange approximately $2,000,000 of each companies' common shares (the "Share-Swap") whereby Core One received a total of 3,149,606 common shares of CGOC, at a deemed price of $0.635 per share, and the Company received a total of 5,333,333 Core One Shares, at a deemed price of $0.375 per share. Pursuant to the Share-Swap, both CGOC and Core One have also signed a voting and resale agreement providing that each party will be required to vote such common shares acquired under the Share-Swap as recommended by the other party and will be restricted from trading such common shares for a period of 18 months. A copy of the voting and resale agreement shall be made available under the Company's issuer profile on SEDAR at www.sedar.com. Furthermore, Core One has also agreed to nominate one board member of Core One as recommended by the Company at future shareholder meetings and the ability, if the Company does not have its nominee on Core One's board of directors, to appoint a board observer.
Brad Eckenweiler, Chief Executive Officer of Core One, commented, "We are excited with the prospect of developing a relationship that will benefit both parties in the United States, Canada and Europe. While CGOC has expertise that can expedite our Canadian goals, I also believe our experience will assist CGOC's interests throughout California."
Sean Conacher, Chief Executive Officer of CGOC, commented, "Core One operates out of a state-of-the-art facility in California and we believe this investment will assist in advancing our interests in the California market. CGOC also believes there is significant opportunities with Core One's infused strip technology and we work to advance this technology globally."
All securities issued pursuant to the Offering and Share-Swap are subject to a mandatory hold period of four months and a day under applicable Canadian securities laws.
Early Warning Disclosure Pursuant to National Instrument 62-103
Prior to the Offering and Share-Swap, CGOC held nil securities of Core One. As of the date hereof, after giving effect to Offering and Share-Swap, the Company beneficially owns or controls 5,333,333 Core One Shares, the Convertible Debenture and 1,500,000 Core One Warrants, representing approximately 16.63% of the issued and outstanding Core One Shares on a non-diluted basis and approximately 28.35% of the issued and outstanding Core One Shares on a partially diluted basis, assuming the conversion of the Convertible Debenture (excluding conversion of any accrued and unpaid interest into Core One Shares) and exercise of all Core One Warrants held by the Company.
Pursuant to the terms of the subscription agreement in respect to the Offering, the Company has agreed to advance an additional $1,000,000 under the Convertible Debenture, to be released upon completion of mutually agreed operational milestones.
The Core One Shares, Convertible Debenture and Core One Warrants were acquired for investment purposes. While Company currently has no plans or intentions with respect to the Core One securities, other than the Company's agreement to advance an additional $1,000,000 under the Convertible Debenture as set out above, the Company may from time to time acquire additional securities of Core One, may sell all or a portion of its securities of Core One or may continue to hold the Core One Shares, Convertible Debenture and Core One Warrants, or other securities of Core One, depending on market conditions, the Company's view of Core One's prospects, other investment opportunities and other factors considered relevant the Company.
A copy of the early warning report to be filed by the Company will be available under Core One's issuer profile on SEDAR at www.sedar.com or by contacting Sean Conacher, CEO at (647) 660-0566. The Company's head office is located at 240 Richmond Street West, Suite 4163, Toronto, Ontario, M5V 1V6.
About Core One
Core One (CSE: COOL) is a technology company that licenses its technology to a state-of-the-art production and packaging facility located in Southern California. Core One's technology produces infused strips (like breath strips) that are not only a safer, healthier option to other forms of delivery but also superior bioavailability of cannabis constituents. Some strips will also include supplemental co-active ingredients such as nutraceuticals, vitamins and peptides. The technology provides a new way to accurately meter the dosage and assure the purity of selected product. From start to finish, the production process, based on Core One's technology, tests for quality and composition of all the ingredients used in every strip which results in a delivery system that is safe, consistent and effective. In addition, through its efforts to develop a better CannaStripsTM product, Core One has developed considerable expertise in cannabis extraction and nursery activities. The operational expertise developed by Core One as a result of these efforts has created new market opportunities for the company in white label sales.
About CGOC
CGOC is an investment corporation that offers unique global exposure to the emerging global cannabis sector. CGOC's main objective is to provide shareholders long-term total return through its actively managed portfolio of securities, both public and private, operating in, or that derive a portion of their revenue or earnings from products or services related to the cannabis industry.
Sam Dan
4 years ago
Cool apparently has successively developed a significant growth of flower products. This should produce significant revenue for the company. However, the structure of the component parts of the company makes it difficult to guestimate profit production. The next quarter numbers should be very revealing.
" ("COOL" or the "Company") announces that its wholly-owned subsidiary, Core Isogenics Inc., has completed its seventh and eighth consecutive harvests at the Adelanto facility.
The Core Isogenics' nursery and cultivation team continue to demonstrate consistent execution completing eight multiple strain harvests in eight weeks. This reliable execution is setting Core Isogenics apart from the numerous struggling cultivators in California. Core Isogenics has proven capable of meeting timely deliveries and contract deadlines. Now that Core Isogenics' cultivation portion of the facility is fully operational the Company will begin harvesting approximately 40-60lbs on a weekly basis to be sold in bulk or through its in-house brand Rêveur.
The facility is equipped with a technology that allows the Company to track the growing conditions in the vegetation and cultivation rooms while documenting both the feeding schedule and soil conditions, enabling the Company to accurately assess and modify the cultivation process creating a dependable model vastly superior to human by-hand methods of the past. The monthly revenue produced from the cultivation operations at today's wholesale market prices will continue to exceed the current operational cost of the entire Adelanto facility. The Company believes the consistent production of high-grade flower from the cultivation operations will translate into solid contracts to grow not only Core One Labs' quality flower but the ability to offer third-party brands a guaranteed production and delivery every week. In addition, the trim and shake from the flower production will translate into an additional revenue thereby further increasing the Company's margins for its existing product lines, Rêveur and CannaStrips™.
The CEO of COOL, Brad Eckenweiler, commented, "The Core Isogenics cultivation operations continue to impress the management team and the numerous brands that have visited the facility over the last eight weeks. This achievement is the foundation for a revenue model that can sustain COOL in-house products such as CannaStripsTM and Rêveur, as well as any additional brands that will benefit from a consistent high-quality product delivered on time. This demonstrated consistency is vital to our business model and to our third-party vendors. Our goal is to achieve continued solid predictability in every harvest." The Company will continue to update the market as information becomes available.
About Core Isogenics Inc.
Core Isogenics Inc. is a City permitted and State licensed cultivation and nursery operation in the California cannabis industry. Developing isogenic seed strains and automated cultivation methods for the cannabis industry with Core One Labs Inc., a British Columbia company.
About Core One Labs Inc.
Core One Labs Inc. is a technology company that licenses its technology to a state-of-the-art production and packaging facility located in Southern California. The Company's technology produces infused strips (like breath strips) that are not only a safer, healthier option to other forms of delivery but also superior bioavailability of cannabis constituents. Some strips will also include supplemental co-active ingredients such as nutraceuticals, vitamins and peptides. The technology provides a new way to accurately meter the dosage and assure the purity of selected product. From start to finish, the production process, based on the Company's technology, tests for quality and composition of all the ingredients used in every strip which results in a delivery system that is safe, consistent and effective. In addition, through its efforts to develop a better CannaStripsTM product, the Company has developed considerable expertise in cannabis extraction and nursery activities. The operational expertise developed by the Company as a result of these efforts has created new market opportunities for the Company in white label sales."
Sam Dan
4 years ago
More funding achieved in a tough market
" ("COOL" or the "Company") announces that it has signed a non-binding term sheet for a CDN$1,500,000 convertible loan facility (the "CGOC Loan Facility") to be advanced by Cannabis Growth Opportunity Corporation ("CGOC").
Pursuant to the term sheet, CGOC has committed to advance up to CDN$1,500,000 (the "Loan Limit") in three equal tranches of CDN$500,000, with the first tranche to be released upon execution of definitive agreements, with each subsequent tranche to be released upon completion of mutually agreed operational milestones. The CGOC Loan Facility shall mature on December 31, 2022, bears interest at 12% per annum, calculated and accrued monthly in arrears and due on maturity. The CGOC Loan Facility shall also be secured by a general security agreement covering all of the Company's personal property upon CGOC advancing the total principal amount of the Loan Limit. Upon entry into the definitive agreements for the CGOC Loan Facility, the Company will issue 1,500,000 common share purchase warrants (the "Warrants") to CGOC that shall vest in three equal tranches upon each of the three advances being made under the CGOC Loan Facility. The Warrants shall be exercisable until December 31, 2022, at a price of CDN$0.60 per share. The Company will have the right to accelerate the expiration date of the Warrants to 30 days after providing written notice to CGOC if the Company's common shares close at or above CDN$1.50 per share for a period of 10 consecutive trading days on the CSE. The principal amount advanced under the CGOC Loan Facility and any accrued and unpaid interest thereon will be convertible at the option of CGOC into common shares of the Company at anytime prior to maturity at a price of CDN$0.40 per share.
In addition, the Company and CGOC have also agreed to enter into subscription agreements to exchange approximately CDN$2,000,000 worth of each other's common shares (the "Share-Swap") whereby the Company shall receive a total of 3,149,606 common shares of CGOC at a deemed price of CDN$0.635 per share and CGOC shall receive a total of 5,333,333 common shares of the Company at a deemed price of CDN$0.375 per share. Pursuant to the Share-Swap, both CGOC and the Company will also sign a voting and resale agreement providing that each party will be required to vote such common shares acquired under the share-swap as recommended by the other party and will be restricted from trading such common shares for a period of 18 months. Furthermore, CGOC will have the right to nominate one director to the Company's board and, if CGOC's nominee is not on the Company's board, CGOC will have the right to appoint a board observer.
Brad Eckenweiler, Chief Executive Officer of Core One, commented, "We are excited with the prospect of developing a relationship that will benefit both parties in the United States, Canada and Europe. While CGOC has expertise that can expedite our Canadian goals, I also believe our experience will assist CGOC's interests throughout California."
Sean Conacher, Chief Executive Officer of CGOC, commented, "COOL operates out of a state-of-the-art facility in California and we believe this investment will assist in advancing our interests in the California market. CGOC also believes there is significant opportunities with COOL's infused strip technology and we work to advance this technology globally."
The transactions as outlined above are subject to the approval of the board of directors for each party and all necessary regulatory and corporate approvals, including approval of the CSE, if so required.
Golden Cross
4 years ago
Core One Labs Inc.’s Subsidiary, Core Isogenics Inc., Completes its First Indoor Harvest
Press Release | 12/20/2019
Core One Labs Inc. (CSE: COOL), (OTCQX: LDSYD), (Frankfurt: LD6, WKN: A14XHT) ("COOL" or the "Company") announces that its subsidiary, Core Isogenics Inc., has harvested 345 pounds of flower from its indoor facility at 9501 Commerce Way in Adelanto. This is the first harvest from the facility and accounted for approximately 10% of the cultivation area.
The harvested section comprising two rows, one at the floor level and one elevated approximately eight feet above floor level. The 345 pounds of flower buds are now being dried and are anticipated to yield finished flower buds of approximately 20% or 69 pounds of marketable flower. The goal in the near future is to harvest two rows per week. The trim and shake from the harvest will both supply adequate bio-mass for the production of CannaStripsTM and retail distillate products.
This first harvest of the facility and the yields are based on the earlier technology. The Company expects that the introduction of the Reiziger® nutrient program will increase current yields and accelerate the growth cycle. Now that the Company has produced high quality cannabis in its Adelanto facility, the next steps are to continue to refine the genetics, cultivation techniques, and nutrient regiments to optimize cultivation yields.
Core One Labs CEO, Brad Eckenweiler, stated, This successful harvest of the Core Isogenics cultivation facility is one more accomplishment for the Company as it continues to build its expertise and operational structure towards a truly vertically-integrated cannabis company from genetics to the customers door step. The current market in California for indoor wholesale flower is between USD$1,200 to USD$1,800 per pound with tested COA confirmations.
The Company will be updating the market on the progress on the Core Isogenics Inc. cultivation as the new information becomes available.
About Core One Labs Inc.
Core One Labs Inc. is a technology company that licenses its technology to a state-of-the-art production and packaging facility located in Southern California. The Companys technology produces infused strips (similar to breath strips) that are not only a safer, healthier option to other forms of delivery but also superior bioavailability of cannabis constituents. Some strips will also include supplemental co-active ingredients such as nutraceuticals, vitamins and peptides. The technology provides a new way to accurately meter the dosage and assure the purity of selected product. From start to finish, the production process, based on the Companys technology, tests for quality and composition of all the ingredients used in each and every strip which results in a delivery system that is safe, consistent and effective. In addition, through its efforts to develop a better CannaStripsTM product, the Company has developed considerable expertise in cannabis extraction and nursery activities. The operational expertise developed by the Company as a result of these efforts has created new market opportunities for the Company in white label sales.
About Core Isogenics Inc.
Core Isogenics Inc. is in Adelanto, California and is a City permitted and State licensed cultivation and nursery operation in the California cannabis industry. Developing isogenic seed strains and automated cultivation methods for the cannabis industry with Core One Labs Inc., a British Columbia company.
About Reiziger® Holland
Reiziger® is the first hydroponic solutions for craftsmen. Formulated from the original recipes used at the legendary Seed Bank of Holland in the 1980s, Reiziger® rewards the hydroponic craftsman with unparalleled fruit and flower size with an enhanced flavor and aroma. A collaboration between the original King of Cannabis, the late Nevil Schoenmakers, founder of the Seed Bank of Holland and Reiziger developed the next generation of hydroponic technologies utilising PPX, a patented phosphorus that helps deliver gains in crop strength, color and size by enhancing the uptake of calcium, magnesium and micronutrients across a wide range of pH values. Reiziger solutions are the choice of master craftsmen since 1984.
Core One Labs Inc.
Brad Eckenweiler
CEO & Director
FOR MORE INFORMATION, PLEASE CONTACT:
investor.relations@core1labs.com
1-866-347-5058
Sam Dan
4 years ago
("COOL" or the "Company") announces that its 50%-owned subsidiary, Agrotech LLC, has harvested 1,600 pounds from the Sacramento farm it manages and has completed drying and testing of the biomass.
Agrotech LLC has harvested a section of the two- and one-half acre farm in Sacramento. The harvest yielded over 1,600 pounds of biomass which was dried and tested, then processed for classification into flower, which is expected to yield approximately 60%, and trim for both the production of CannaStripsTM and retail distribution and sales. The remainder of the farm's crop will continue to provide additional bio-mass late into November.
The harvest of the farm provided research data and further affirmation of the Company's ability to cultivate outdoors without the use of pesticides or fungicides. The harvest has received a Certificate of Analysis ("COA") confirming those positive expectations. Operationally, this harvest is evidence that the Company no longer has to rely on third party cultivations and incur the additional risk and the significant margins that reliance represents. The Company now can produce high quality cannabis without contaminates at a much lower cost outdoors, thereby reducing the cost of goods across all the product lines.
Core One Labs CEO, Brad Eckenweiler, stated, "This outdoor cultivation is one more accomplishment for the Company as it continues to build its expertise and operational structure towards a vertically integrated cannabis company from genetics and seed to the customer's doorstep." The current market in California for wholesale flower is between USD$600 and USD$1,200 per pound with a COA confirmation.
The Company will be updating the market as to the progress on the farm as new information becomes available.
In addition, the Company is announcing that it has reached an agreement with an arms-length party for a CAD$300,000 one-year unsecured convertible debenture (the "Debenture"). The principal advanced under the Debenture will accumulate interest at 6% per annum compounded monthly and may be converted, together with accrued interest, in whole, or in part, into shares of the Company's common stock at CAD$0.64 per share.
About Core One Labs Inc.
Core One Labs Inc. is a technology company that licenses its technology to a state-of-the-art production and packaging facility located in Southern California. The Company's technology produces infused strips (similar to breath strips) that are not only a safer, healthier option to other forms of delivery but also provide superior bioavailability of cannabis constituents. Some strips will also include supplemental co-active ingredients such as nutraceuticals, vitamins and peptides. The technology provides a new way to accurately meter the dosage and assure the purity of selected product. From start to finish, the production process, based on the Company's technology, tests for quality and composition of all the ingredients used in each and every strip which results in a delivery system that is safe, consistent and effective. In addition, through its efforts to develop a better CannaStripsTM product, the Company has developed considerable expertise in cannabis extraction and nursery activities. The operational expertise developed by the Company as a result of these efforts has created new market opportunities for the Company in white label sales.
Sam Dan
4 years ago
another deal "("COOL" or the "Company") announces its new non-exclusive distribution partner, Fenix Logistics, has delivered CannaStripsTM into eight new stores putting the total of stores CannaStripsTM have been delivered to at 50.
CannaStripsTM is COOL's innovative oral strip for effective buccal mucosal delivery of that is changing the way people consume cannabis. CannaStripsTM have most recently been distributed by DYME Distribution ("DYME") which had a sales team covering the entire state of California. In a recent article put out by DYME's parent company, the DYME announced downsizing the number of employees in order to restructure the company moving forward. COOL has decided on a non-exclusive distribution endeavour with Fenix Logistics out of Sacramento, CA ("Fenix") to distribute both of the Company's brands, Rêveur and CannaStripsTM. Fenix covers 150+ retail stores and delivery companies with seven sales representatives and has already landed CannaStripsTM into eight new stores. This is in addition to the stores already carrying both Rêveur and CannaStripsTM products on their shelves.
The Company's President, Casey Fenwick, stated, "This is a good transition for the COOL brands. Fenix offers sales, distribution, and marketing services, which will allow our brands to look and feel congruent when presented in an in-store face-to-face situation as well as in promotional marketing materials on social media or in print. In addition to distribution and marketing services, we are discussing a possibility of Fenix assisting COOL with distribution of the company's outdoor harvest when these services are required."
Golden Cross
5 years ago
News Out Core One Labs Inc. Signs a Letter of Intent to Acquire Cultivation Facility in Canada
NEWS PROVIDED BY
Core One Labs Inc.
Oct 23, 2019, 08:00 ET
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VANCOUVER, Oct. 23, 2019 /PRNewswire/ -- Core One Labs Inc. (CSE: COOL), (OTCQX: CLABF), (Frankfurt: LD6, WKN: A14XHT) ("COOL" or the "Company") announces it has signed a non-binding letter of intent (the "LOI") to acquire all of the outstanding shares of 1210950 B.C. Ltd. dba Rainy Daze Cannabis Corp. ("Rainy Daze") in exchange for a cash payment of CAD$100,000 and 3,500,000 shares of the Company's common stock.
Rainy Daze was organized by the CEO of a fully-licensed Canadian LP with current Cultivation and Medical Sales licenses. Rainy Daze facility has a license application in process. The facility used by Rainy Daze is held under a long term lease and is currently under construction and is scheduled to be completed in the 2nd quarter of 2020. Once completed, the facility will include 22,510 sq. ft. of canopy space and 3,500 sq. ft. of operational purpose-built building.
The facility will be operated by experienced staff with LP credentials, and will include 15 top proprietary genetics, together with the farming resources and SOPs to ensure compliance and maximum yield, seed to sale software, and secured distribution agreements that guarantee shelf space with a group of over 12 licensed locations in western Canada. With extraction capabilities onsite, the acquisition will provide Core One Labs an opportunity to enter the edibles and extracts markets and independently brand all of the Company's products in the Canadian market.
The completion of the transaction is subject to a satisfactory due-diligence process, which is expected to be completed by November 30, 2019.
The CEO of Core One Labs Inc., Brad Eckenweiler, commented, "With completion of this proposed transaction, Core One Labs will have a clear and defined path to the Canadian market and ultimately the ability to export CannaStrips™ internationally. The location and extensive capabilities of the Rainy Daze facility is uniquely suited to meet the goals and aspirations of the Core One Labs team." The Company will continue to update the market on the progress of this transaction as it proceeds to the completion of the acquisition.
About CannaStrips™
CannaStrips™ is a formulated oral strip for effective buccal mucosal delivery that disrupts the barrier created by saliva coating the mucosal membrane for the active materials (in this case cannabinoids) which have been nanoparticulated and encapsulated to penetrate the multiple layers of mucosal and sub-mucosal membranes to the blood stream. Once in the blood stream the encapsulation is undetectable as a foreign material by the liver. This undetectability allows the material to avoid being filtered out of the blood stream by the liver. The encapsulation also is more effective in penetrating the blood-brain barrier and allowing for greater bioavailability and extending the effective time from a single dose.
About Core One Labs Inc.
Core One Labs Inc. is a technology company that licenses its technology to a state-of-the-art production and packaging facility located in Southern California. The Company's technology produces infused strips (similar to breath strips) that are not only a safer, healthier option to other forms of delivery but also superior bioavailability of cannabis constituents. Some strips will also include supplemental co-active ingredients such as nutraceuticals, vitamins and peptides. The technology provides a new way to accurately meter the dosage and assure the purity of selected product. From start to finish, the production process, based on the Company's technology, tests for quality and composition of all the ingredients used in each and every strip which results in a delivery system that is safe, consistent and effective. In addition, through its efforts to develop a better CannaStrips™ product, the Company has developed considerable expertise in cannabis extraction and nursery activities. The operational expertise developed by the Company as a result of these efforts has created new market opportunities for the Company in white label sales.
Core One Labs Inc.
Brad Eckenweiler
CEO & Director
FOR MORE INFORMATION, PLEASE CONTACT:
InvestorRelations@coreonelabs.ca
Rainy Daze Cannabis Corp.
Rainy Daze Cannabis Corp. prides itself on providing a facility for high yield with exceptional quality cannabis results to unique cultivators with unsurpassed gram-to-watt production costs, ensuring lower production cost and higher profit margins.
Golden Cross
5 years ago
Core One Labs’ Subsidiary, Core Isogenics Inc., Receives Provisional Cultivation License
Press Release | 10/03/2019
Core One Labs Inc. (CSE: COOL), (OTCQX: CLABF), (Frankfurt: LD6, WKN: A14XHT) ("COOL" or the "Company") announces it has received a Provisional Nursery License for Core Isogenics Inc.
Core Isogenics Inc. received a yearly renewable Provisional Cultivation License issued by the California Department of Food and Agriculture for the Companys production facility in Adelanto, CA. This license is issued for the full year and will need to be renewed in September of 2020. As stated in the recent issuance of the Nursery license article, the State of California has not started issuing annual licenses yet; once they do, it is the Companys understanding that Core Isogenics will not be required to submit any additional documentation in order to receive an annual license.
As of the date of this news release, the Company has been issued yearly renewable provisional licenses in four categories including Nursery, Cultivation, Manufacturing, and Distribution. Initially the Company planned to apply for a Medium Indoor Cultivation license but after careful review of the site plans it was determined that a Small Indoor Cultivation license woul save the Company a significant amount in yearly licensing fees while maintaining the same space available for cultivation.
The Cultivation License covers two rooms, a vegetative room and a flowering room which is slightly larger in square footage. The vegetative room houses a two-story state-of-the-art rolling table system and 192 lights. The flower room includes the same two-story state-of-the-art rolling table system but holds 288 lights. Both the flowering and the vegetative rooms have automated watering systems in order to keep an accurate feeding regiment for the plants and to reduce the amount of labor required to service them. The genetics for the rooms are bread by Core Isogenics Nursery located in the same facility, in the room adjacent to the cultivation rooms. All of the product grown will be either wholesaled in bulk or broken down into smaller sizes and sold under an in-house brand for the Companys affiliated Highway 395 Dispensary.
About CannaStripsTM
CannaStripsTMis formulated oral strip for effective buccal mucosal deliverythat disrupts the barrier created by saliva coating the mucosal membrane forthe active materials (in this case cannabinoids) which have been nanoparticulated and encapsulated to penetrate the multiple layers of mucosal and sub-mucosal membranes to the blood stream. Once in the blood stream the encapsulation is undetectable as a foreign material by the liver. This undetectability allows the material to avoid being filtered out of the blood stream by the liver. The encapsulation also is more effective in penetrating the blood-brain barrier and allowing for greater bioavailability and extending the effective time from a single dose.
About Core Isogenics Inc.
The Company is located in Adelanto, California and is a City permitted and State Licensed cultivation and nursery operation in the California cannabis industry. Developing isogenic seed strains and automated cultivation methods for the cannabis industry with Core One Labs Inc. a British Columbia company.
About Core One Labs Inc.
Core One Labs Inc. is a technology company that licenses its technology to a state-of-the-art production and packaging facility located in Southern California. The Companys technology produces infused strips (similar to breath strips) that are not only a safer, healthier option to other forms of delivery but also superior bioavailability of cannabis constituents. Some strips will also include supplemental co-active ingredients such as nutraceuticals, vitamins and peptides. The technology provides a new way to accurately meter the dosage and assure the purity of selected product. From start to finish, the production process, based on the Companys technology, tests for quality and composition of all the ingredients used in each and every strip which results in a delivery system that is safe, consistent and effective. In addition, through its efforts to develop a better CannaStripsTM product, the Company has developed considerable expertise in cannabis extraction and nursery activities. The operational expertise developed by the Company as a result of these efforts has created new market opportunities for the Company in white label sales.
Core One Labs Inc.
Brad Eckenweiler
CEO & Director
FOR MORE INFORMATION, PLEASE CONTACT:
InvestorRelations@coreonelabs.ca
Sam Dan
5 years ago
First GOOD news from Core One, lets hope more keeps coming
" ("COOL" or the "Company") announces that its subsidiary, Agrotech LLC, has concluded its first harvest of 1,600 pounds from its Sacramento farm and has begun processing the bio-mass.
Agrotech LLC harvested a small section of the two and one half acre farm in Sacramento. The harvest started in the beginning of August and yielded over 1,600 pounds of bio-mass which has been dried. Prior to beginning a process of classification into flower, trim and shake for both the production of CannaStrips™ and retail distribution and sales, the bio-mass will have to be tested by a third-party laboratory. The remainder of the farm's crop will provide additional harvests late into October.
The harvest of the farm has provided research data and further affirmation of the Company's ability to cultivate outdoors without the use of pesticides or fungicides. Operationally, this harvest is evidence that the Company no longer has to rely on third party cultivations and the additional risk and the significant margins they represent. The Company can produce high quality cannabis without contaminates at a much lower cost outdoors, thereby reducing the cost of goods across all product lines.
Core One Labs CEO, Brad Eckenweiler, stated, "This outdoor cultivation is one more accomplishment for the Company as we continue to build expertise and operational structure toward a vertically-integrated cannabis company from seed to the customer's door step."
The Company will be updating the market as to the progress on the farm as new information becomes available. "
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