In This Article:
VANCOUVER, BC / ACCESSWIRE / July 8, 2024 / Core One Labs Inc. (CSE:COOL)(OTCQB:CLABF)(Frankfurt:LD6, WKN: A3CSSU) (the "Company" or "Core One"), is pleased to announce that it has entered into a loan agreement (the "Loan Agreement") with Right Season Investments Corp. ("Right Season") dated June 28, 2024. Under the terms of the Loan Agreement, Right Season has advanced a loan of CDN$300,000 (the "Loan") to the Company. The Loan is repayable upon demand of Right Season and carries an interest rate of 15% per annum, effective from the date of the Loan advance until full repayment. The Company plans to utilize the Loan proceeds for general administrative and working capital expenses.
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 through its 100% owned subsidiary, Awakened Biosciences Inc., Core One has developed a proprietary method for the production of synthetic psilocybin.
Core One Labs Inc.
Joel Shacker
Chief Executive Officer
FOR MORE INFORMATION, PLEASE CONTACT:
info@core1labs.com
1-866-347-5058
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The securities to be issued pursuant to the Private Placement have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons in the absence of U.S. registration or an applicable exemption from the U.S. registration requirements. This news release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in the United States or in any other jurisdiction in which such offer, solicitation or sale would be unlawful.