Achievement of these Milestones are a necessary step in the achievement of commercial production of pharmaceutical-grade psilocybin.
Following achievement of the Milestones, the Company has issued 625,000 common shares (the 'Bonus Shares') to the former shareholders of Vocan to satisfy bonus obligations originally agreed to at the time of the acquisition of Vocan. A portion of the Bonus Shares will be subject to a pooling arrangement (the 'Pooling Arrangement') during which time they may not be traded or transferred and will be released from the Pooling Arrangement in six equal tranches, with the first tranche being released immediately upon issuance and each subsequent tranche being released each month thereafter.
About
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.
In addition to the development of psychedelics and psychedelic compounds,
Contact:
Tel: 1-866-347-5058
Email: info@core1labs.com
Cautionary Disclaimer Statement
The Canadian Securities Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the 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 expectations. They are not guarantees of future performance. The Company cautions that all forward-looking statements are inherently uncertain, and that actual performance may be affected by a number of material factors, many of which are beyond the Company's control. Such factors include, among other things: risks and uncertainties relating to the Company's limited operating history and the need to comply with strict regulatory regulations. Accordingly, actual and future events, 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 (
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