CORE ONE LABS’ ANNOUNCES APPOINTMENT OF BF BORGERS CPA PC AS ITS NEW AUDITOR

Core One Labs Inc. (CSE: COOL | OTC: CLABF), (Frankfurt: LD6, WKN: A3CSSU) – Further to its news release dated September 29, 2022, the Company is pleased to announce the appointment BF Borgers CPA PC (‘BF Borgers’ or the ‘Successor Auditor’) as its new auditor effective as of November 23, 2022.

BF Borgers replaces Dale Matheson Carr-Hilton Labonte LLP (‘DMCL’ or the ‘Former Auditor’) as the Company’s auditor. The change in auditor has been approved by the Company’s Audit Committee and Board of Directors.

There was no modified opinion expressed in DMCL’s report on any of the Company’s financial statements relating to the period commencing at the beginning of the Company’s two most recently completed financial years and ending on the date of resignation of DMCL. There have been no ‘reportable events’ within the meaning assigned under subsection 4.11(1) of National Instrument 51102 Continuous Disclosure Obligations.

The Company has sent a Notice of Change of Auditor (the ‘Notice’) to the Former Auditor and to the Successor Auditor and has received a letter from each, addressed to the securities commissions in each of British Columbia, Alberta and Ontario stating that they agree with the information contained in the Notice. The Notice, together with the letters from the Former Auditor and the Successor Auditor and the cover letter are available on www.sedar.com.

Core One is a biotechnology research and technology life sciences enterprise focused on bringing psychedelic medicines to market through novel delivery systems and psychedelic assisted psychotherapy. Core One has developed a patent pending thin film oral strip (the ‘technology’) which dissolves instantly when placed in the mouth and delivers organic molecules in precise quantities to the bloodstream, maintaining excellent bioavailability. The Company intends to further develop and apply the technology to psychedelic compounds, such as psilocybin. Core One also holds an interest in medical clinics which maintain a combined database of over 275,000 patients. Through these clinics, the integration of its intellectual property, R&D related to psychedelic treatments and novel drug therapies, the Company intends to obtain regulatory research approval for the advancement of psychedelic-derived treatments for mental health disorders.