Mr. Joel Shacker reports

CORE ONE'S VOCAN FILES INTERNATIONAL PATENT FOR ITS BREAKTHROUGH PROPRIETARY BIOSYNTHETIC PSILOCYBIN PRODUCTION METHOD

Core One Labs Inc.'s wholly owned subsidiary, Vocan Biotechnologies Inc., has completed final steps of its research for its biosynthetic production system and has filed a patent under the Patent Cooperation Treaty (PCT) for international protection of its novel production techniques for biosynthesized psilocybin.

Vocan's filling of this international patent is a monumental step in the patenting of its revolutionary biosynthetic psilocybin production method. Prior to the PCT patent, Vocan had filed a provisional patent with the United States Patent and Trademark Office (the USPTO) in January, 2022, outlining its theory for a proprietary biosynthetic psilocybin production process. Over the past year, Vocan scientists have been able to prove their concept through rigorous experimentation and testing, successfully documenting and defending the breakthrough production method. The summation of Vocan's findings has resulted in today's announced international patent filing, the success of which will ensure Vocan's revolutionary biosynthetic production system for psilocybin would remain the exclusive property of the company.

This filing marks a major milestone in the company's progression toward becoming an industry frontrunner in the psychedelic space as a leading producer of psychedelic drugs, given Core One's proprietary production systems having the ability to yield 100-per-cent pure API grade psilocybin through an extremely cost- and time-efficient method. The current market price of reliable API and GMP compliant psilocybin, produced via conventional synthetic and extraction/isolation production methods, ranges between $7,000 (U.S.) to $10,000 (U.S.) per gram. The company's novel recombinant system can cut production costs significantly with increased efficiency, which could, as a result, lead to substantially lower market price of API and GMP compliant psilocybin and potentially transform psychedelic-based mental health care worldwide.

The patent is a result of a culmination of three years of diligent research and trials, conducted and perfected by Vocan's team of scientists, and holds considerable importance for the company and its investors, since the patent's success will enhance and solidify Core One's ability to protect its Invention across many countries; and as a result, prevent it from being copied and manipulated by competitors.

The provisional patent detailed a proof-of-concept production method for the biosynthetic production of psychedelic compounds, whereby its scientists used a recombinant protein expression process technology to convert a chosen bacterial strain into a production factory to produce psilocybin. The production method utilized by Vocan effectively inserts and manipulates DNA segments to add to the genetic makeup of the chosen bacteria, so that the bacteria contain appropriate biosynthetic enzymes (proteins that help to catalyze and speed up chemical reactions in the bacteria) and allow the organism to produce psilocybin at yields that Vocan scientists have deemed suitable for scale-up production capabilities.

"The filling of the international patent is the biggest achievement Vocan has made to date. Since the inception of Vocan, its team of scientists have been dedicated to completing the work required to file this patent. Now that this milestone has been completed, the company will focus on refining the biosynthetic production process to increase yield and decrease cost," 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.

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