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Core One Labs Announces Non-Brokered Private Placement

Core One Labs Inc. (CSE: COOL), (OTCQB: CLABF), (Frankfurt: LD6, WKN: A3CSSU) (the “Company” or “Core One”) is pleased to announce that it…



Core One Labs Inc. (CSE: COOL), (OTCQB: CLABF), (Frankfurt: LD6, WKN: A3CSSU) (the “Company” or “Core One”) is pleased to announce that it proposes to complete a non-brokered private placement (the “Financing”) of up to 3,125,000 units of the Company (each, a “Unit”) at a price of $0.32 per Unit, for gross proceeds of up to $1,000,000. Each Unit will consist of one (1) common share (each, a “Share”) of the Company and one (1) common share purchase warrant (each, a “Warrant”). Each Warrant will entitle the holder, on exercise, to purchase one (1) Share for a period of five (5) years at an exercise price of $0.43 per Share.

The Company intends to use the net proceeds of the Financing for working capital and general corporate purposes.

In connection with the Financing, the Company may pay finders’ fees and/or issue finders’ warrants on the same terms as the Warrants, to eligible parties who have assisted by introducing subscribers to the Financing.

In connection with closing of the Financing, the Company will issue common shares to Amalfi Corporate Services Ltd., equal to 2% of the aggregate Units issued, in consideration for administrative services rendered in support of the Financing.

Pursuant to applicable securities laws, all securities issued under the Financing will be subject to a statutory hold period of four months and one day.

Closing of the proposed Financing is anticipated to occur on or about September 18, 2023.

Not for distribution to United States newswire services or for dissemination in the United States. This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States or to U.S. persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available. This news release shall not constitute an offer to sell or the solicitation of an offer to buy in the United States or to, or for the account or benefit of, persons in the United States or U.S. Persons nor shall there by any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

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 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.

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 4 provisional patents for the development of psychedelic-based pharmaceutical formulations targeting neurological and mental health disorders, under its 100% owned subsidiary Akome Biotech Ltd., and 3 provisional patents under its other 100% 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 roll out 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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