NAPANEE, Ontario, March 05, 2024 (GLOBE NEWSWIRE) -- Lophos Holdings Inc. ("Lophos" or the "Company") (CSE:MESC) is pleased to announce its subsidiary, Lophos Pharmaceuticals Corp., has selected Carmichael Engineering Ltd., a renowned HVAC engineering and construction firm headquartered in Belleville, ON, to drive the completion of its HVAC project and expedite occupancy at the site. This strategic partnership underscores Lophos's commitment to excellence and marks a significant advancement in its operational endeavors.
Carmichael Engineering's esteemed track record for excellence and proficiency in thermal system technologies closely aligns with Lophos's core values and strategic objectives.
Carmichael estimates that building occupancy can be attained within 4-8 weeks from the commencement of their services, providing a definitive pathway forward for Lophos. This achievement marks a pivotal milestone, strengthening the company's ability to diversify its offerings and reaffirming its commitment to expanding operational capacities.
Upon achieving building occupancy, Lophos plans to house their cultivation operations at the facility. Moreover, the site's existing Controlled Substance Dealer’s License, which permits the possession, sale, transportation, and delivery of various controlled substances including mescaline, psilocin, psilocybin, LSD, DMT, MDMA, and ketamine, will be fully utilized. Additionally, the license grants authorization for the production of mescaline, psilocin, and psilocybin.
"We are confident that Carmichael's capabilities will expedite the completion of the HVAC project," said Claire Stawnyczy, CEO at Lophos. "Their appointment marks a significant step forward in achieving occupancy of our building and advancing our objectives for our CSDL licensed facility."
Lophos reiterates its commitment to pioneering research and innovation in the study of peyote, while extending heartfelt appreciation for the ongoing support and patience demonstrated by our valued stakeholders throughout this transitional phase.
For more information, please visit our website at https://lophos.com and follow us on Twitter (@lophospharma) and LinkedIn for the latest updates and insights.
About Lophos
Lophos Pharmaceuticals Corp., a wholly-owned subsidiary of Lophos Holdings Inc. (CSE:MESC), stands as a prominent biosciences company specializing in the cultivation, research, and sale of peyote. Distinguished by its Controlled Substances Dealers License (CSDL), the subsidiary is authorized for the possession, sale, sending, transportation, and delivery of various controlled substances, including mescaline, psilocin, psilocybin, LSD, DMT, MDMA, and ketamine. Additionally, the license grants permission for the production of mescaline, psilocin, and psilocybin, showcasing the comprehensive scope of our operations.
For further inquiries:
Director: Claire Stawnyczy, CEO, Lophos Holdings Inc.
Contact: Giselle Barona
Email: invest@lophos.com
Website: www.lophos.com
Phone: 1-833-450-7407
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.
