Mr. Joel Shacker reports

CORE ONE LABS' AKOME MOVE PSYCHEDELIC DRUG FORMULATIONS TO NEXT STAGE OF DEVELOPMENT: INITIATING PHASE 2 ANALYSIS OF THERAPEUTIC POTENTIAL

Following the receipt of very positive results during phase 1 preclinical development studies conducted by Core One Labs Inc.'s wholly owned subsidiary Akome Biotech Ltd., and its research partners, relating to the neuroactivities of its selected bioactive compounds (see company press releases dated April 2, 2022, Aug. 18, 2022, and Aug. 19, 2022), the company, through Akome, has received interest from the Universitat de Barcelona (University of Barcelona), to move studies into phase 2 of the preclinical development continuum.

The results obtained from Akome and its research partners at Fundacion Medina in Granada, Spain (Medina), Neuro-Zone Srl, based in Bresso, Italy, and the Universidad Complutense de Madrid (Universidad Complutense), during phase 1 of preclinical development, clearly demonstrate that many of Akome's chosen bio compounds have considerable potential to exert beneficial effects that could mitigate neurological deficits associated with many central nervous system disorders and mental health conditions such as major depressive disorder (depression), stroke, Parkinson's disease (PD) and Alzheimer's disease (AD). Furthermore, Akome's pharmacokinetic in-vivo studies have not presented any concerns with the metabolism, distribution and elimination of the bio compounds, and therefore support moving forward into the next stages of drug development.

In concert with the University of Barcelona, it is anticipated that phase 2 development will be initiated in the coming weeks and will focus on evaluating the therapeutic potential of Akome's bio compounds, alone and in conjunction with various psychedelic compounds, on the central nervous system, through the incorporation of live organism models. One model currently being considered as ideal for this purpose is the model of the nematode (worm) Caenorhabditis elegans.

Akome has conducted preliminary conversations with Dr. Merce Pallas Lliberia and Dr. Christian Grinan Ferre from University of Barcelona, Barcelona, Spain, who have extensive experience with the C. elegans model and have shown interest in collaborating with Akome to test its bio compounds alone and in combination with other psychedelics.

"We are pleased to see our preclinical development studies for psychedelic drug formulations advance to phase 2. The positive results in phase 1 exhibited promising results and the next stage of the study will play a significant role as we look to progress towards viable drug formulas that could successfully target and mitigate health conditions such as major depressive disorder, stroke, Parkinson's disease and Alzheimer's disease. Such a major breakthrough would further strengthen the company's image as a leading psychedelic developer and manufacturer in the industry," stated Joel Shacker, Core One chief executive officer.

About Core One Labs Inc.

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

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

Core One, through its wholly owned subsidiary Vocan Biotechnologies Inc., has developed and filed for patent protection of a proprietary psilocybin production system using engineered bacteria. It is also the holder of four provisional patents for the development of psychedelic-based pharmaceutical formulations targeting neurological and mental health disorders, under its 100-per-cent-owned subsidiary Akome Biotech Ltd., and three provisional patents under its other 100-per-cent-owned subsidiary, Awakened Biosciences Inc., for additional synthetic technologies for psilocybin and psilocin production methods.

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

We seek Safe Harbor.