VANCOUVER, British Columbia, Aug. 31, 2023 (GLOBE NEWSWIRE) -- Lophos Holdings Inc. ("Lophos", or the "Company") is pleased to announce that its common shares have been approved for listing on the Canadian Securities Exchange (the "CSE") and the Company expects to commence trading on the CSE on or around September 06, 2023, under the ticker symbol "MESC". The CUSIP/ISIN numbers for the common shares of the Company are: 543937106/CA5439371066.
The Company's principal business pertains to the cultivation, research, and sale of Lophophora williamsii ("peyote cactus"). Under Canadian law, the possession, sale, and distribution of peyote cactus is legal through an exemption to the Controlled Drugs and Substances Act (CDSA). Furthermore, the peyote cactus is legal for sale in many international markets, including the Czech Republic, Netherlands, Peru, Portugal, Slovenia, Sweden, Thailand, Ukraine and the United Kingdom. It is also legal for sale with a license in Germany and for indigenous and religious use in the United States.
Lophos Holdings Inc. is focused on developing sustainable and scalable indoor cultivation methods for peyote, while spearheading research on the therapeutic potential of mescaline and other peyote-based compounds.
"We are thrilled to introduce our mission to the public markets through a direct listing on the CSE," said Claire Stawnyczy, CEO of Lophos. "Our dedicated pursuit of developing novel therapeutics related to mescaline for mental health treatment, alongside our unwavering commitment to the sustainable and responsible cultivation and distribution of peyote, positions us strongly to excel in the ever-evolving psychedelic biotech sector."
"We consider our direct listing on the CSE as a significant milestone, emblematic of our Company's progress. This marks an important step towards realizing our dual mission: advancing groundbreaking mental health therapies, while establishing a sustainable and ethical source for a sacred traditional medicine," Stawnyczy added.
"We are looking forward to the future of the psychedelic industry and are excited for the tremendous positive impact Lophos Pharmaceuticals Corp. will have on the availability of legal psychedelics in Canada."
Cautionary Statement
Neither the Canadian Securities Exchange nor its Regulation Services Provider have reviewed or accept responsibility for the adequacy or accuracy of this release.
This press release contains 'forward-looking information' within the meaning of applicable Canadian securities legislation. These statements relate to future events or future performance. The use of any of the words "could", "intend", "expect", "believe", "will", "projected", "estimated" and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on Lophos' current belief or assumptions as to the outcome and timing of such future events. Forward-looking information in this press release includes information with respect to the CSE listing, and product developments. Forward-looking information is based on reasonable assumptions that have been made by Lophos at the date of the information and is subject to known and unknown risks, uncertainties, and other factors that may cause actual results or events to differ materially from those anticipated in the forward-looking information. Given these risks, uncertainties and assumptions, you should not unduly rely on these forward-looking statements. The forward-looking information contained in this press release is made as of the date hereof, and Lophos is not obligated to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. The foregoing statements expressly qualify any forward-looking information contained herein. Factors that could cause actual results to differ materially from those anticipated in these forward-looking statements are described under the caption "Risk Factors" in Lophos' final long form prospectus dated August 11, 2023 which is available on Lophos's profile at www.sedarplus.ca.
This news release does not constitute an offer to sell or the solicitation of an offer to buy, and shall not constitute an offer, solicitation or sale in any state, province, territory or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state, province, territory or jurisdiction
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ABOUT LOPHOS
The Company's wholly-owned subsidiary, Lophos Pharmaceuticals Corp., is a biosciences company that specializes in Peyote cultivation, research, and sale. It is also licensed to possess, produce, sell/provide, send, transport and deliver the controlled substances covered by their Controlled Substances Dealers License (CSDL), namely mescaline, psilocin and psilocybin.
