- Core One Labs Inc. (COOL) acquires all the outstanding share capital of Awakened Biosciences Inc. for $9.76 million
- Core One and Awakened are psychedelics research and technology companies
- Core One Labs has issued seven million common shares and 1.4 million share purchase warrants at a price of $1.15 per share
- The company has also issued 140,600 common shares to certain third parties
- Core One Labs Inc. (COOL) is up 10 per cent and is trading at $1.21 per share as of 12:23 p.m. EST
Core One Labs Inc. (COOL) has acquired all outstanding share capital of Awakened Biosciences for $9.76 million.
Core One and Awakened are psychedelics research and technology companies. Awakened’s production methods can produce psychedelic compounds at scale for reduced costs.
Core One Labs has issued seven million common shares and 1.4 million share purchase warrants at a price of $1.15 per share until February 4, 2024.
This entitles the holders to acquire an equivalent number of common shares of Core One Labs.
The company has also issued 140,600 common shares to certain third parties involved in the transaction.
The transaction was completed in connection to a share purchase agreement.
Acquiring these shares allows the expansion of Core One’s portfolio of subsidiaries specializing in psychedelic compounds, and the methods its scientists can employ.
Awakened’s novel production methods require filing three provisional patent applications for the protection of its proprietary technologies.
Joel Shacker, Core One CEO, stated,
“With the addition of Awakened to the Core One family, the company has increased expansion opportunities, furthered its psychedelic products portfolio, and secured potential for immediate revenue generation.”
Core One Labs Inc. (COOL) is up 10 per cent and is trading at $1.21 per share as of 12:23 p.m. EST.