Subject: Lophos news release
PDF Document
File: Attachment 2024 07 26 Update on Mortgage Notice_FINAL_26JUL2024.pdf
Lophos Holdings Inc. Provides Update on Mortgage Notice
Vancouver, July 26th, 2024 -- Lophos Holdings Inc. ("Lophos" or the "Company") (CSE:MESC), a
Canadian bioscience company focused on the cultivation and sale of Lophophora williamsii
("Peyote"), announces that it has received a Notice of Sale Under Mortgage, affecting its property
located at 100 Circuit Rider Drive, Napanee, Ontario.
The notice states that default has been made in payment of the monies due under a certain
mortgage made between Eric Hancox, Vassil Staykov, and Sandra Williams (the "Mortgagees")
and 2515585 Ontario Inc. (the "Mortgagor"), which is associated with Lophos Holdings Inc. The
amounts are claimed by the Mortgagee for principal money, interest, taxes, insurance premiums,
and costs total $1,996,557.95.
The Company acknowledges the seriousness of this notice and is taking immediate steps to
address the situation. The details of the amounts due are as follows:
Principal: $1,910,400.00
Interest to July 18, 2024: $46,058.96
Section 17 Interest Penalty: $38,103.32
Legal Costs of this notice: $1,995.67
Total: $1,996,557.95
Next Steps:
Lophos Holdings Inc. is currently reviewing all available options to resolve this matter promptly
and efficiently. The Company is actively seeking financial solutions, including but not limited to,
bridge financing, asset sales, or strategic partnerships, to cover the outstanding amount and to
ensure the continuity of its operations.
Impact on Operations:
While this notice does present a significant financial challenge, Lophos remains committed to its
mission and business operations. The Company continues to focus on its strategic objectives,
including the cultivation and sale of Lophophora williamsii (Peyote), and is confident in its ability
to navigate through this period.
Statement from the Board:
"The receipt of this mortgage notice is a matter of great concern and we are fully dedicated to
resolving it as swiftly as possible. We are exploring all avenues to secure the necessary funds and
are committed to maintaining transparency with our shareholders throughout this process,"
stated Claire Stawnyczy, President and CEO.
Lophos Holdings Inc. will provide further updates as more information becomes available. The
Company appreciates the ongoing support of its shareholders, employees, and stakeholders
during this time.
About Lophos Holdings Inc.
Lophos Holdings Inc. (CSE:MESC), is a holdings company focused in the bioscience sector. Lophos
Pharmaceuticals Corp., a wholly owned subsidiary of Lophos Holdings Inc., stands as a prominent
biosciences company specializing in the cultivation, research, and sale of peyote. Distinguished
by its Controlled Substances Dealers License (CSDL), the subsidiary is authorized for the
possession, sale, sending, transportation, and delivery of various controlled substances, including
mescaline, psilocin, psilocybin, LSD, DMT, MDMA, and ketamine. Additionally, the license grants
permission for the production of mescaline, psilocin, and psilocybin, showcasing the
comprehensive scope of their operations.
For Further Inquiries
Contact: Claire Stawnyczy CEO, Lophos Holdings Inc.
Email: invest@lophos.com
Website: www.lophos.com
Phone: 1-833-450-7407
The Canadian Securities Exchange has neither approved nor disapproved the contents of this
news release and accepts no responsibility for the adequacy or accuracy hereof.
Cautionary Statement
Neither the Canadian Securities Exchange nor its Regulation Services Provider have reviewed or
accept responsibility for the adequacy or accuracy of this release.
This press release contains `forward-looking information' within the meaning of applicable
Canadian securities legislation. These statements relate to future events or future performance.
The use of any of the words "could", "intend", "expect", "believe", "will", "projected",
"estimated" and similar expressions and statements relating to matters that are not historical
facts are intended to identify forward-looking information and are based on Lophos' current
belief or assumptions as to the outcome and timing of such future events. Forward-looking
information in this press release includes information with respect to the Company's peyote
cactus product development. Forward-looking information is based on reasonable assumptions
that have been made by Lophos at the date of the information and is subject to known and
unknown risks, uncertainties, and other factors that may cause actual results or events to differ
materially from those anticipated in the forward-looking information. Given these risks,
uncertainties and assumptions, you should not unduly rely on these forward-looking
statements. The forward-looking information contained in this press release is made as of the
date hereof, and Lophos is not obligated to update or revise any forward-looking information,
whether as a result of new information, future events or otherwise, except as required by
applicable securities laws. The foregoing statements expressly qualify any forward-looking
information contained herein. Factors that could cause actual results to differ materially from
those anticipated in these forward-looking statements are described under the caption "Risk
Factors" in Lophos' final long form prospectus dated August 11, 2023, which is available on
Lophos's profile at www.sedarplus.ca.
This news release does not constitute an offer to sell or the solicitation of an offer to buy, and
shall not constitute an offer, solicitation or sale in any state, province, territory or jurisdiction in
which such offer, solicitation or sale would be unlawful prior to registration or qualification
under the securities laws of any such state, province, territory or jurisdiction.
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