VANCOUVER, BC / ACCESSWIRE / February 6, 2021 / Core One Labs Inc. (CSE:COOL)(OTC PINK:CLABF)(Frankfurt:LD62)(WKN:A2P8K3) (the "Company") announces that it has engaged Donohoe Advisory Associates LLC ("Donohoe Advisory") in connection with its efforts to seek a listing for its common shares on a NASDAQ Stock Market. The Company expects that listing its common shares on NASDAQ will provide increased investor awareness and market liquidity for shareholders.
Donohoe Advisory was founded by Dave Donohoe in 2004, and since that time the firm has successfully represented hundreds of companies in a wide range of listing matters for both the NASDAQ Stock Market and the New York Stock Exchange. Donohoe's senior advisory team have previously worked for either NASDAQ or the New York Stock Exchange (NYSE). Prior to forming Donohoe Advisory, Dave Donohoe spent over nine years with NASDAQ, where he ultimately served as Chief Counsel in the Listing Qualifications Department. Other senior advisors include Katherine Roberson Petty, former Senior Counsel for NASDAQ's Office of General Counsel, Bruce Poignant, former NYSE Executive in their Capital Markets Group, Tamara Kondic, former Director in the Listing Qualifications Department at the Nasdaq Stock Market LLC, and David Compton, former Director of Corporate Governance Interpretations at NASDAQ.
NASDAQ is ranked the second largest exchange by market capitalization worldwide, behind the New York Stock Exchange. To qualify for listing on the exchange, a company must be registered with the United Sates Securities and Exchange Commission, must have at least three market makers and must meet minimum requirements for assets, capital, public shares, and shareholders.
With investor interest in the psychedelics space on the rise the Company believes that a near term listing on NASDAQ is most opportune. Investor interest is acquiring some very high profile executives and celebrities, as well, and providing exposure for investing in the psychedelic sectors future. Hedge fund billionaire Steven Cohen, Joby Pritzker, cofounder of Tao Capital and an heir to the Hyatt hotel fortune, along with Bob Parsons billionaire founder of GoDaddy and golf equipment manufacturer PXG, have all donated to Multidisciplinary Association for Psychedelic Sturdies (MAPS) - a non-profit research and educational organization that develops medical, legal, and cultural contexts for people to benefit from the careful uses of psychedelics and marijuana.
Compass Pathways was the first Psychedelic company to complete an Initial Public Offering (IPO) on the NASDAQ last year, with Billionaire Peter Thiel holding an approximate ownership of 7.54%. ATAI Life Sciences is another company in the psychedelics space that is expected to go public this year with an expected valuation between $1-2 billion. In addition to these new and soon to be players, the psychedelics space has witnessed the launch of a new ETF - the Horizons Psychedelic Stock Index - which further indicates the appetite for psychedelics is growing at a rapid pace. According to Data Bridge Market Research, the psychedelic drug market is projected to grow at a CAGR of 16.3% over the next eight years to reach 6.85 billion by 2027.
"Donohoe Advisory is the premier advisory firm for managing the legal requirements, regulatory issues, and application processes necessary for a successful uplisting. Listing the company on the NASDAQ will open access to larger institutional and Wall Street Investors seeking investments in the psychedelic space. I anticipate Core One Labs will garner strong interest from investors as its operations are comparable to other NASDAQ listed companies in the space. In addition, this greater exposure would lead to a more reasonable valuation as management believes that the company is significantly undervalued compared to its peers." stated Joel Shacker CEO of the Company.
Readers are cautioned that while the Company has engaged Donohoe Advisory in connection with its efforts to seek a listing on NASDAQ, the Company has not yet applied for a listing or made a final decision to proceed with a listing. Completion of a listing is subject to regulatory approvals and the satisfaction of applicable listing requirements and will require the consolidation of the outstanding share capital of the Company in order to meet minimum market value requirements. In the event the Company does elect to proceed with a listing, it is contemplated that its common shares would continue to trade in Canada on the Canadian Securities Exchange.
The Company will be hosting an investor conference call on Wednesday February 10, 2021 at 1:30 p.m. PST, 4:30 p.m. EST, 10:30 p.m. CET, with Dr. Robert E.W. Hancock, Chairman and Joel Shacker, CEO to discuss development and strategy.
Dr. Robert E.W. Hancock will be discussing progress that has been made at Core One's Lab in British Columbia. He will provide updates on major milestones that have been reached. He will also provide an in depth look at the psychedelic space, and what Core One Labs is doing that separates itself from other companies in this space.
PARTICIPANT TELEPHONE NUMBERS
Canada/USA TF: 1-800-319-4610
International Toll: +1-604-638-5340
Germany TF: 0800-180-1954
Callers should dial in 5 - 10 min prior to the scheduled start time and simply ask to join the call
CONFERENCE REPLAY (For Distribution)
Canada/USA TF: 1-800-319-6413
International Toll: +1-604-638-9010
Replay Access Code: 6172
About Core One Labs Inc.
Core One Labs Inc. is a research and technology company focused in life sciences and on bringing psychedelic medicines to market through novel delivery systems and psychedelic assisted psychotherapy. The Company 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. With this technology, the Company intends to further develop its IP technology to focus on delivering psychedelic molecules with an initial focus on psilocybin. Core One also holds an interest in walk-in medical clinics which maintain a database of over 200,000 patients combined. Through research and development in these clinics, including the integration of its intellectual property related to psychedelic treatments and novel drug therapies, the Company intends to work towards regulatory approval for research that advances psychedelic-derived treatments for mental health disorders.
Core One Labs Inc.
Joel Shacker
Chief Executive Officer
FOR MORE INFORMATION, PLEASE CONTACT:
[email protected]
1-866-347-5058
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 environmental and governmental 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 (Canada) and it is a criminal offence to possess substances under the Controlled Drugs and Substances Act (Canada) without a prescription. Health Canada has not approved psilocybin as a drug for any indication. Core One Labs Inc. does not have any direct or indirect involvement with illegal selling, production, or distribution of psychedelic substances in jurisdictions in which it operates. While Core One Labs Inc. believes psychedelic substances can be used to treat certain medical conditions, it does not advocate for the legalization of psychedelics substances for recreational use. Core One Labs Inc. does not deal with psychedelic substances, except within laboratory and clinical trial settings conducted within approved regulatory frameworks.
SOURCE: Core One Labs Inc.