VANCOUVER, British Columbia, April 17, 2024 (GLOBE NEWSWIRE) -- Lophos Holdings Inc. (“Lophos” or the “Company”) (CSE:MESC) is delighted to announce the successful receipt of building occupancy for its subsidiary, Lophos Pharmaceuticals Corp., in Napanee, Ontario. This milestone achievement follows the dedicated efforts of Carmichael Engineering Ltd., the esteemed HVAC engineering and construction firm based in Belleville, ON, whose partnership has been integral to the project's conclusion.
Carmichael Engineering’s unwavering commitment to excellence and expertise in thermal system technologies has played a pivotal role in accelerating the completion of the HVAC project, aligning seamlessly with Lophos’s strategic objectives.
"We extend our heartfelt appreciation to Carmichael Engineering for their exceptional contributions in expediting the HVAC project, culminating in the successful occupancy of our building in Napanee," said Claire Stawnyczy, CEO at Lophos. "Their professionalism and dedication have been instrumental in advancing our operational goals and solidifying our presence in the region."
With the attainment of building occupancy, Lophos is poised to commence its cultivation operations at the facility, culminating with the planting of over 3,000 Lophophora williamsii (peyote) seeds. This expansion marks a significant increase from the initially projected 1,000 plants by the end of 2024, reflecting the company's ambitious growth strategy. Leveraging the site’s Controlled Substance Dealer’s License (CSDL), which authorizes the possession, sale, transportation, and delivery of various controlled substances, including mescaline, psilocin, psilocybin, LSD, DMT, MDMA, and ketamine, management believes that the company is poised for significant growth and innovation in the biosciences sector.
"We are excited to embark on the next phase of our journey, as we harness the capabilities of our newly occupied facility to drive pioneering research and innovation in the study of peyote," added Stawnyczy.
Lophos reaffirms its commitment to transparency and innovation, inviting stakeholders to visit the company's website at lophos.com and follow updates on Twitter (@lophospharma) and LinkedIn.
About Lophos
Lophos Pharmaceuticals Corp., a wholly owned subsidiary of Lophos Holdings Inc. (CSE:MESC), is a leading biosciences company specializing in the cultivation, research, and sale of peyote. With a comprehensive Controlled Substances Dealer's License (CSDL), the subsidiary is authorized for the possession, sale, transportation, and delivery of various controlled substances, underscoring the breadth of its operations.
For Further Inquiries
Contact:
Claire Stawnyczy – CEO, Lophos Holdings Inc.
Email: invest@lophos.com
Website: www.lophos.com
Phone: 1-833-450-7407
The Canadian Securities Exchange has neither approved nor disapproved the contents of this news release and accepts no responsibility for the adequacy or accuracy hereof.
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.
