Core One Labs Commends Study Exploring Psychedelics’ Efficacy in Providing Relief for Chronic Pain Conditions

August 23, 2023

Vancouver, British Columbia, Canada – August 23, 2023 – Core One Labs Inc. (CSE: COOL), (OTCQB: CLABF), (Frankfurt: LD6, WKN: A3CSSU) (the “Company” or “Core One”) applauds a recent survey study published in the European Journal of Pain, which suggests that  psychedelic substances could offer potential therapeutic value in addressing specific chronic pain conditions.

By conducting an extensive survey among 170 individuals dealing with chronic pain and who met the inclusion criteria, the research aimed to uncover insights into the effectiveness of conventional treatments, full psychedelic doses, and psychedelic microdoses on five prevalent chronic pain conditions: fibromyalgia, arthritis, migraine, tension-type headache, and sciatica. These conditions were carefully selected based on consistent diagnostic criteria.

The outcomes of the survey were promising as participants, with the exception of those experiencing sciatica, consistently reported experiencing superior pain relief through the use of psychedelics compared to conventional medications across all the studied conditions. Particularly noteworthy was the observation that full psychedelic doses outperformed traditional treatments in terms of effectiveness. Microdoses also displayed significant potential, delivering substantial relief for migraines and comparable relief for the other chronic pain conditions investigated.

The study’s significance lies in its contribution to the growing body of evidence supporting the therapeutic role of psychedelic substances and its analgesic effects among individuals suffering from fibromyalgia, arthritis, migraine, tension-type headache and sciatica. The authors of the study believe the findings hold tremendous implications for the advancement of future research endeavors concerning the practical utilization of psychedelics for pain management.

Core One Labs acknowledges the importance of this research as a steppingstone for further advancements in the field of chronic pain management and remains steadfast in supporting and encouraging any further studies and breakthroughs exploring psychedelic interventions aimed at addressing pain.

Engagement of Stride Report

The Company also announces that further to its news release of July 19, 2023, the Company has engaged Stride Report Inc. (“Stride”), an arm’s length party to the Company, to provide marketing and investor awareness services. The Company has agreed to pay to Stride a monthly non-refundable fee of CDN$10,000, plus applicable taxes, per month, for a period of four (4) months. The services will include investor relations, creation of content, strategic planning, digital advertisement placement, and overseeing progress and results of digital campaigns. Consideration offered to Stride does not include any securities of the Company.  Aside from this engagement, the Company does not have any relationship with Stride and Mr. Raafat Nasser, CEO of Stride. Stride’s business address is located 1120 – 625 Howe Street, Vancouver, BC V6C 1T2, email is raafat@stride.report, telephone number is 604-710-7318 and website is https://stride.report/.

Core One Labs Inc. 

Joel Shacker

Chief Executive Officer

FOR MORE INFORMATION, PLEASE CONTACT:

info@core1labs.com

1-888-452-6731

Cautionary Disclaimer Statement:

The Canadian Securities Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this news release.

Information set forth in this news release contains forward-looking statements that are based on assumptions as of the date of this news release. These statements reflect management’s current estimates, beliefs, intentions, and expectations. They are not guarantees of future performance. The Company cautions that all forward-looking statements are inherently uncertain, and that actual performance may be affected by a number of material factors, many of which are beyond the Company’s control. Such factors include, among other things: risks and uncertainties relating to the Company’s limited operating history and the need to comply with strict regulatory regulations.  Accordingly, actual and future events, conditions and results may differ materially from the estimates, beliefs, intentions and expectations expressed or implied in the forward-looking information. Except as required under applicable securities legislation, the Company undertakes no obligation to publicly update or revise forward-looking information.

In addition, psilocybin is currently a Schedule III drug under the Controlled Drugs and Substances Act (Canada) and it is a criminal offence to possess substances under the Controlled Drugs and Substances Act (Canada) without a prescription or authorization. Health Canada has not approved psilocybin as a drug for any indication. Core One does not have any direct or indirect involvement with illegal selling, production, or distribution of psychedelic substances in jurisdictions in which it operates. While Core One believes psychedelic substances can be used to treat certain medical conditions, it does not advocate for the legalization of psychedelics substances for recreational use. Core One does not deal with psychedelic substances, except within laboratory and clinical trial settings conducted within approved regulatory frameworks.