NAPANEE, Ontario, Oct. 10, 2023 (GLOBE NEWSWIRE) -- Lophos Holdings Inc. ("Lophos", or the "Company") (CSE:MESC) is delighted to share additional information on its wholly-owned subsidiary, Lophos Pharmaceuticals Corp., which has achieved a significant milestone by obtaining a Controlled Substance Dealer’s License from Health Canada for their facility located in Napanee, Ontario.
Facility Overview
- Permitted to produce, sell, transport, and deliver the controlled substances covered by the license, namely mescaline, psilocin, and psilocybin.
- Wholly owned, 10,000 sq. ft. facility that is newly built.
- Cutting-edge laboratory with secure storage capabilities valued up to $6,250,000.
- 6,000 sq. ft. of dedicated cultivation space for peyote cactus research and production.
- Contract cultivation and laboratory research capabilities.
This significant milestone was achieved through a strategic collaboration with Canalytica Corp. which ensured a seamless licensing process, reinforcing the importance of expert regulatory partnerships.
Canalytica Corp., led by VP of Quality Assurance, Giselle Barona, was instrumental in navigating the rigorous regulatory intricacies associated with the controlled substance licensing process. Their adept expertise in quality assurance and regulatory affairs ensured a swift and efficient pathway to this groundbreaking achievement.
This achievement also exemplifies Lophos’ dedication to pioneering their unique approach in the realm of psychedelic medicines. With a robust focus on compliance, research, and potential therapeutic applications, Lophos is uniquely positioned to explore mescaline’s potential for treating conditions such as depression, anxiety, and PTSD.
“Our licensed facility exemplifies our dedication to regulatory compliance and excellence in research and production,” CEO Claire Stawnyczy remarked. “We believe that our intended approach of offering traditional psychedelic medicine while reinvesting any revenues into research makes us truly unique.”
Additionally, Lophos emphasizes its commitment to the compliant, ethical, and sustainable production of indoor cultivated peyote cactus (lophophora williamsii).
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.
About Canalytica
Canalytica Corp. is a business consulting firm that specializes in quality assurance and compliance in Canada and the United States. Focused on licensing support for the pharmaceutical, cannabis, and food industries, Canalytica is committed to improving compliance and regulatory interactions for regulated companies.
For further inquiries:
Contact: Investor Relations, Lophos Holdings Inc.
Email: invest@lophos.com
Website: www.lophos.com
Phone: 1-833-206-5222
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 Company’s peyote cactus product development. 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.
