22:26:09 EDT Thu 28 Mar 2024
Enter Symbol
or Name
USA
CA



Core One Labs Inc (3)
Symbol COOL
Shares Issued 28,777,637
Close 2022-08-12 C$ 0.34
Market Cap C$ 9,784,397
Recent Sedar Documents

ORIGINAL: Core One's Awakened produces psilocin precursor

2022-08-12 20:57 ET - News Release

Received by email:

File: '\\office\emailin\20220812 174348 Attachment 08122022_COOL_Psilocin_Precursor_Announced.docx'



CSE: COOL
OTC: CLABF
Frankfurt: LD6, WKN: A3CSSU



Core One Labs' Subsidiaries Successfully Produce Psilocin Precursor for Production to Psilocybin 

Vancouver, British Columbia, Canada - August 12, 2022 - Core One Labs Inc. (CSE: COOL), (OTC: CLABF), (Frankfurt: LD6,
---> WKN: A3CSSU) (the "Company" or "Core One") is pleased to announce that scientists at its wholly-owned subsidiary Awak
--->ened Biosciences Inc. ("Awakened") have successfully produced a precursor that can be efficiently converted into psilo
--->cin, the psychoactive ingredient of psilocybin, with further conversion into commercially viable psilocybin by Core On
--->e's wholly owned Vocan Biotechnologies Inc. ("Vocan").

Under the leadership of Awakened's Chief Researcher, Dr. Tony Durst, who is also Emeritus Professor at the University 
--->of Ottawa, Awakened has produced more than 200 grams of the precursor; a compound that does not fall under the umbrell
--->a of Canada's Controlled Drugs and Substances Act (CDSA). Awakened's precursor will be shipped to Vocan's laboratories
---> in Victoria, where scientists, operating under a CDSA licensed Dealer's Lab, will use their processes to turn this in
--->to psilocybin. Core One's team of scientists anticipate that the production methods employed will yield a high purity 
--->psilocybin product.

The successful production of this precursor by Awakened, presents many opportunities for Core One, including the poten
--->tial for sooner than anticipated distribution of a commercially viable psilocybin API (Active Pharmaceutical Ingredien
--->t) product. Commercially viable psilocybin API could lead to revenue generation in the near term. Additionally, the co
--->llaboration between Awakened and Vocan, can streamline the production process, to allow Vocan to focus on ramping up p
--->roduction of psilocybin. 

"Vocan's breakthrough achievement to produce low cost psilocybin is being advanced further through this partnership wi
--->th Awakened. The roughly $20.8 million invested in Vocan and its research, at both its Victoria based laboratory and t
--->he University of British Columbia, has resulted in Core One Labs becoming a leader in cost effective psychedelic compo
--->unds production," stated Joel Shacker, Core One CEO.

About Core One Labs Inc.

Core One Labs is a life sciences biotechnology research and development company focused on bringing psychedelic medici
--->nes to market through the development and production of psychedelic compounds, the advancement of psychedelic assisted
---> treatments, and the integration of novel delivery systems technology.

The Company has a multi-faceted business approach and incorporates several complementary lines of businesses and units
---> in establishing itself as an industry leader in the rapidly growing and emerging psychedelics market space.

Core One, through its wholly owned subsidiary Vocan Biotechnologies Inc., has developed and filed for patent protectio
--->n of a proprietary psilocybin production system using engineered bacteria. It is also the holder of 4 provisional pate
--->nts for the development of psychedelic-based pharmaceutical formulations targeting neurological and mental health diso
--->rders, under its 100% owned subsidiary Akome Biotech Ltd., and 3 provisional patents under its other 100% owned subsid
--->iary, Awakened Biosciences Inc., for additional synthetic technologies for psilocybin and psilocin production methods.

In addition to the development of psychedelics and psychedelic compounds, Core One holds an interest in four medical c
--->linics which maintain a combined database of more than 275,000 patients. Through its clinics the Company intends to in
--->tegrate a roll out of its intellectual property related to psychedelic technologies and participate in the advancement
---> of psychedelic-based treatments for mental health disorders. 

Core One Labs Inc.

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 t
--->he 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 expectat
--->ions. They are not guarantees of future performance. The Company cautions that all forward-looking statements are inhe
--->rently uncertain, and that actual performance may be affected by a number of material factors, many of which are beyon
--->d the Company's control. Such factors include, among other things: risks and uncertainties relating to the Company's l
--->imited operating history and the need to comply with strict regulatory regulations.  Accordingly, actual and future ev
--->ents, 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 prescrip
--->tion 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 juri
--->sdictions in which it operates. While Core One believes psychedelic substances can be used to treat certain medical co
--->nditions, 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 regu
--->latory frameworks.



© 2024 Canjex Publishing Ltd. All rights reserved.