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Core One Labs Inc. C.COOL

Alternate Symbol(s):  CLABF

Core One Labs Inc. is a Canada-based life sciences biotechnology research and development company. The Company is focused on bringing psychedelic medicines to market through the development and production of psychedelic compounds, the advancement of psychedelic assisted treatments, and the integration of delivery systems technology. The Company, through its wholly owned subsidiary, Vocan Biotechnologies Inc., has developed and filed for patent protection of a proprietary psilocybin production system using engineered bacteria. It is also the holder of four provisional patents for the development of psychedelic-based pharmaceutical formulations targeting neurological and mental health disorders, under its subsidiary Akome Biotech Ltd., and three provisional patents under its other subsidiary, Awakened Biosciences Inc., for additional synthetic technologies for psilocybin and psilocin production methods. It also holds an interest in four medical clinics.


CSE:COOL - Post by User

Post by Thesmartway1111on Jan 15, 2021 7:05pm
320 Views
Post# 32311889

NEWS!!

NEWS!! VANCOUVER, BC / ACCESSWIRE / January 15, 2021 /Core One Labs Inc. (CSE:COOL)(OTC PINK:CLABF)(Frankfurt:LD62) (WKN: A2P8K3) (the "Company" or "Core One") is pleased to announce that further to its October 30, 2020 press release, the Company has completed the sale of certain of its non-core assets and subsidiaries in California for CAD$3,000,000 plus the assumption of approximately USD$4,000,000 in related liabilities. The completion of this sale allows the Company to focus its core business on the continued development of psychedelic alternative medicines and experiential therapies, and its CannaStripTM delivery technology. The Company's goal is to use its proprietary technologies to advance natural-based medicines for the treatment of mental health illnesses and addiction. Core One's team of leading scientists, specializing in protein expression and biosynthetic fermentation, have developed a patentable method of producing psilocybin that will afford the Company the ability to manufacture consistent high-quality GMP API psilocybin at scale, and provide pharmaceutical companies, API manufacturers and medical research organizations conducting clinical trials, access to product at a significantly lower cost than other psilocybin-producing companies. In consideration for the acquisition of the Assets (as defined below), the purchaser will complete a series of cash payments to the Company totaling CAD$3,000,000 and will assume responsibility for all outstanding liabilities and obligations of Reveur Holdings Inc., Core, CSPA, LDS Agrotech Inc., LDS Scientific Inc., Agrotech LLC and LDS Development Corp., including all continuing employment obligations and certain additional liabilities of the Company associated with these assets. The total value of the assumed liabilities is approximately USD$4,000,000.
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