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Core One Labs Inc. (CSE: COOL)(OTCQB: CLABF)(Frankfurt: LD6) (WKN: A3CSSU) is a life sciences biotechnology research and development company specializing in bringing psychedelic medicines to market. The company's wholly-owned subsidiary, GMP Drug Inc., has recently entered into a non-binding letter of intent (LOI) with Zollaris Laboratories Corporation to potentially sell psychedelic compounds such as biosynthetic psilocybin and DMT. This groundbreaking agreement marks a significant milestone for Core One, showcasing their commitment to advancing the field of psychedelic medicine.
Core One Labs has entered into a loan agreement with Right Season Investments, dated June 28, 2024. Under this agreement, Right Season has provided a CDN$300,000 loan to Core One. The loan carries an annual interest rate of 15% and is repayable on demand. Core One intends to use the funds for general administrative and working capital needs.
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