VANCOUVER, British Columbia, Sept. 19, 2023 (GLOBE NEWSWIRE) -- Lophos Holdings Inc. ("Lophos", or the "Company") (CSE:MESC) is delighted to share a substantial milestone. Its wholly owned subsidiary, Lophos Pharmaceuticals Corp., has initiated the early enrollment phase for acquiring peyote cactus (Lophophora williamsi) via its official website, www.lophos.com.
Interested parties can now register with Lophos to be among the first list of customers when the Company’s peyote cactus products are released in 2024. Under Canadian law, the possession, sale, and distribution of peyote cactus (Lophophora williamsi) is legal through an exemption to the Controlled Drugs and Substances Act (CDSA).
"I am pleased to announce the official opening of our waiting list for the 2024 peyote cactus harvest to all eligible Canadians," stated Claire Stawnyczy, CEO of Lophos. She emphasized that Lophos will prioritize individuals with Indigenous Status and those with a Physician's recommendation.
Lophos is dedicated to launching their peyote cactus products with rigorous, self-imposed standards designed to encourage safe and responsible consumption. Ms. Stawnyczy emphasized, "Our peyote cactus products will meet the stringent packaging and testing requirements set by Health Canada for other herbal controlled substances. We are steadfast in our commitment to setting a high standard in this regard."
To register for early access to Lophos’ legal peyote cactus products, visit www.lophos.com/buy-peyote.
Lophos Appoints PI Financial as Market Maker
The Company is also pleased to announce that it has retained PI Financial Corp. (“PI”) to provide market making services in accordance with the policies of the Canadian Securities Exchange and applicable laws.
PI will trade the common shares of Lophos on the CSE for the purposes of maintaining an orderly market. In consideration of the services provided by PI, the Company will pay PI a monthly cash fee of $5,000 for a minimum term of three months and renewable thereafter. Lophos and PI are unrelated and unaffiliated entities. PI will not receive any common shares or options as compensation. The capital used for market making will be provided by PI.
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.
For further information:
Contact: Investor Relations, Lophos Holdings Inc.
Email: invest@lophos.com
Website: www.lophos.com
P:1-833-206-5222
ABOUT LOPHOS
The Company's wholly owned subsidiary, Lophos Pharmaceuticals Corp., is a biosciences company that specializes in peyote cactus (Lophophora williamsi) cultivation, research, and sale. It is also licensed to possess, produce, sell/provide, send, transport and deliver the controlled substances covered by its Controlled Substances Dealers License (CSDL), namely mescaline, psilocin and psilocybin. Lophos common shares trade on the Canadian Securities Exchange (CSE) under the ticker “MESC”.
