09:07:26 EST Tue 07 Feb 2023
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Core One Labs Inc (2)
Symbol COOL
Shares Issued 70,967,507
Close 2021-04-28 C$ 0.95
Recent Sedar Documents

Core One Labs delays filing 2020 results

2021-04-28 16:33 ET - News Release

Mr. Joel Shacker reports


Core One Labs Inc. is anticipating a delay in filing its audited financial statements for the year ended Dec. 31, 2020, the related management's discussion and analysis, and chief executive officer and chief financial officer certifications, which are required to be filed on or before April 30, 2021.

In connection with the anticipated delay, the company has applied to the applicable Canadian securities regulators requesting that a voluntary management cease trade order (MCTO) be imposed to restrict trading in the company's securities by insiders of the company, as opposed to a general cease trade order, which would restrict all trading in the company's securities. Once granted, the MCTO will be in effect until the required filings are filed or until it is revoked or varied.

The majority of the required filings have been prepared, but the company is unable to complete and file such materials as a result of delays associated with collection of the required data and documentation to complete the audit of the company and its various subsidiaries. Restrictions on travel resulting from the continuing COVID-19 pandemic have limited access to operations in the United States. The company is continuing to work with its auditor to complete the required audit work and the company expects being in a position to file the required filings no later than May 14, 2021.

The company confirms that it intends to satisfy the provisions of the alternative information guidelines described in sections 9 and 10 of National Policy 12-203 (Management Cease Trade Orders) for so long as it remains in default of the requirement to file the required filings. The company has not taken any steps toward any insolvency proceeding and the company has no material information to release to the public. The company has made the foregoing representations in accordance with the requirements of applicable securities laws.

About Core One Labs Inc.

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 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, research and development 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.

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