Core One Labs Enters Into LOI For First Sale Of Its Psychedelic Compounds
Portfolio Pulse from Vuk Zdinjak
Core One Labs Inc.'s subsidiary, GMP Drug Inc., has entered into a non-binding letter of intent with Zollaris Laboratories Corporation for a potential transaction involving the sale of psychedelic compounds. The compounds are formulated by Vocan Biotechnologies Inc. and Awakened Biosciences Inc., also subsidiaries of Core One. The final agreement is subject to conditions including due diligence, negotiation and execution of the definitive agreement, and Zollaris holding a valid controlled substances license from Health Canada.
July 24, 2023 | 1:52 pm
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Core One Labs is potentially entering a new market with the sale of its psychedelic compounds, which could increase its revenue and profitability if the deal is successful.
The potential sale of psychedelic compounds to Zollaris Laboratories could open a new revenue stream for Core One Labs. However, the deal is still in the early stages and subject to various conditions, so there is some uncertainty about whether it will go through and what the financial impact will be.
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