AskMuncher
5年前
$KONEF Ketamine One Reports Audited Financial Results for the 2021 Fiscal Year
Press Release | 12/13/2021
VANCOUVER, British Columbia, Dec. 13, 2021 (GLOBE NEWSWIRE) -- KetamineOne Capital Limited (“Ketamine One” or the “Company”) (NEO: MEDI) (OTC: KONEF) (Frankfurt: MY0), a company focused on consolidating medical clinics and becoming a North American leader in mental health treatments, is pleased to announce that it has filed its audited financial results for the fiscal year ending July 31, 2021, the highlights of which are included in this news release. The full set of Consolidated Financial Statements and Management Discussion and Analysis can be viewed by visiting the Company’s website at www.ketamine.one or its profile page on SEDAR at www.sedar.com.
Financial Highlights (all amounts expressed in Canadian Dollars unless otherwise noted)
Revenue for the year period ended July 31, 2021 reached $1,131,171, as compared to $nil for the same period of the prior year, which was primarily due transitioning from an investment issuer to a single-purpose company focused on consolidating medical clinics and becoming a North American leader in mental health treatments.
Gross profit for the year ended July 31, 2021 was $793,166, as compared to $nil for the same period of the prior year, due to the aforementioned reason.
Net loss for the year ended July 31, 2021 was $31,914,151, as compared to net income of $1,126,874 reported for the same period of the prior year, primarily due to non-cash expenses of $5,226,365 of share-based payments, $12,324,999 for consideration paid in excess of net liabilities acquired from acquisitions and $8,905,830 of impairment loss on goodwill.
Total assets for the year ended July 31, 2021 increased by 346% to $21,921,195 from $4,919,093 for the same period of the prior year, which was mainly attributable to its acquisition of KGK Science Inc.
Management Commentary
“The 2021 fiscal year was our first as a public issuer and, therefore, was a transformative one as the Company went public, rebranded to Ketamine One, became a single-purpose entity and completed multiple acquisitions. We have accomplished a great deal this year to build a strong foundation as one of the top mental health and digital therapeutic platforms in North America,” said Adam Deffett, Interim CEO of Ketamine One. “We are assembling a talented team and a unique platform of synergistic assets to advance innovative treatments and technologies. I believe we have shown the great potential of combining our clinics with an established contract research organization and using those assets to advance digital therapeutics. KGK Science continues to secure new business, the portfolio of clinics keeps evolving, and our corporate development efforts have resulted in new partnerships and a growing list of opportunities across North America, which we look forward to developing further throughout the year,” added Mr. Deffett.
Subsequent Highlighted Events (all amounts expressed in Canadian Dollars unless otherwise noted)
Scent-Enabled Virtual Reality Via Exclusive Agreement for Psychedelic Molecules With OVR Technology: On August 4, announced an exclusive agreement for the use of virtual reality technology in psychedelic treatments with OVR Tech LLC to provide its INHALE Wellness Platform over an initial term of two years in Ketamine One’s clinics.
Multiple New Contracts for KGK Science: On August 16, announced that KGK Science had secured a significant amount of new business in the form of four newly signed contracts with third-party clinical research and regulatory service clients. KGK was also formally selected to conduct the clinical trials for four other parties, the contracts of which are currently being negotiated and finalized.
Medical Advisory Board: On August 23, announced the establishment of a Medical Advisory Board (“MAB”) to help guide the development of Ketamine One’s mental health platform and other aspects of the Company.
IRP Health Expands With New Veteran-Focused Clinics: On August 30, announced that its wholly owned subsidiary, Integrated Rehab and Performance Ltd., is expanding its business through the addition of four new, veteran-focused, multidisciplinary clinics in the Comox Valley, Ottawa, Halifax and Surrey.
Deployment of Cognetivity’s Integrated Cognitive Assessment Tool: On September 1, announced that it had reached a commercial agreement with Cognetivity Neurosciences Ltd. (“Cognetivity”) for Cognetivity’s Integrated Cognitive Assessment to be deployed in Ketamine One’s clinics across North America.
Engages Psychology & Counselling Services Group for IRP Health: On September 14, announced that it had entered into an agreement with Psychology & Counselling Services Group to provide psychology, therapy, dietary and other mental health services for Ketamine One’s subsidiary, IRP Health Ltd., as early as October of 2021.
LOI with Veteran Services USA to Open Therapy Center: On September 21, announced that it had recently signed a non-binding letter of interest with Veteran Services USA to lease approximately 5,000 square feet of space over an initial term of five years in Blue Island, Illinois.
KGK Science Contracted To Support A Ketamine Clinical Trial In The US: On October 6, announced that its wholly-owned contract research organization, KGK Science Inc., had recently been contracted by a third party to develop the protocol and Informed Consent Form to support its Institutional Review Board application related to a ketamine clinical trial planned to be conducted by a clinic operator within its medical facilities located in Miami, Florida.
Launching Two Inaugural Research Studies: On October 14, announced that it would be launching a single arm, open label study of patients with post-traumatic stress disorder who are undergoing the proprietary physical therapy program at the Company’s IRP Health clinics as well as an observational, single-arm, pilot study aimed at collecting objective biometric data and validated psychiatric instrument measures of efficacy in patients with depression symptoms who are receiving IV ketamine infusion therapy. Both studies have now received IRB approvals.
Biostrap Part of Inaugural Research Studies: On October 20, announced that it would be conducting its previously announced single arm, observational, biometric research studies in association with Biostrap USA, LLC across multiple locations in Canada and the United States.
Virtual Mental Healthcare Platform in Partnership With iHealthOX: On November 4, announced that it had entered into a telehealth and virtual health partnership to increase accessibility and service offerings to its patients (the “Telehealth Strategy”). In order to better address the needs of patients as well as incorporate the Telehealth Strategy across its portfolio of mental health clinics, contract research capabilities and its focus on digital therapeutics, the Company had also announced the launch of a new patient-facing website at www.ketamine.one/patients/home.
Intention to Submit Draft Registration Statement for Proposed U.S. Initial Public Offering: On November 9, announced that it intended to confidentially submit a draft registration statement on Form S-1 to the U.S. Securities and Exchange Commission (the "SEC") relating to a potential initial public offering (“IPO”) of its common shares in the United States. The IPO is expected to be for up to USD 20 Million of Ketamine One’s common shares and is currently expected by Company management to occur in the first half of 2022. The number of common shares to be offered, the use of proceeds, and the price range for the proposed IPO have not yet been determined.
IRP Health Opened Two New Veteran-Focused Clinics: On November 16, announced that its wholly owned subsidiary, IRP Health Ltd. (“IRP” or the “Subsidiary”), opened its Comox Valley and Ottawa clinics (the “Two Clinics”). As previously announced, the Two Clinics are veteran-focused facilities and multidisciplinary in nature. To date, IRP has successfully performed over 10,000 unique treatments for past or present personnel of the Canadian Armed Forces and the Royal Canadian Mounted Police (“RCMP”), as well as first responders including firefighters, law enforcement officers, paramedics and emergency medical technicians.
KGK Science Helps Client Receive New Dietary Ingredient Status from U.S. FDA: On December 2, announced that its wholly owned contract research organization, KGK Science Inc., successfully assisted its client, Hofseth Biocare ASA (HBC.OL) (“HBC”), to receive New Dietary Ingredient status from the United States Food and Drug Administration for its patented CalGo® and OmeGo® branded products. HBC is a leading manufacturer and marketer of unique and innovative marine-derived calcium, protein, collagen, and lipid nutritional supplements.
Partners with Cognetivity Neurosciences in Collaborative Clinical Study on Depression and PTSD: Also on December 2, announced that it entered into a collaborative partnership with Cognetivity Neurosciences Ltd. (CSE: CGN; OTCQB: CGNSF; FWB: 1UB) (“Cognetivity”) to study and develop assessments for depression and post-traumatic stress disorder (“PTSD”). In the initial stage of the partnership, Cognetivity and Ketamine One will partner on two separate clinical studies, one for depression and the second for PTSD. Protocols for both studies have received Institutional Review Board approval and patient recruitment is expected to occur in early 2022. Ketamine One’s wholly owned subsidiary, KGK Science Inc., will lead the study, while Cognetivity will lead the analysis.
Adds Seattle Location To US Clinical Network: On December 8, announced that it had been engaged by Dr. Tami Meraglia to establish a ketamine infusion clinic in Seattle, Washington. The new clinic will operate as Seattle Ketamine Infusions (“SKI” or the “Clinic”) and be located at 311 West Republican Street. Dr. Meraglia is focused on the areas of personalized intravenous treatments and is also a national best-selling author and frequent media guest regarding total health and wellness topics. Ketamine One will provide training, protocol development, and ongoing support for the Clinic, with the first patient treatments expected at SKI in early 2022.
Termination of NY Ketamine acquisition: The Company announces today that it and NY Ketamine Medical Practice, PLLC (“NY Ketamine”) have mutually agreed to terminate the letter of intent previously announced on April 5, 2021 pursuant to which the Company was working to acquire NY Ketamine. Ketamine One remains active in evaluating the acquisition of clinic assets in several US states and is focused on growing its network of existing clinics across North America.
Departure of CMO: The Company announces today that its Chief Medical Officer, Dr. Mark Kimmins, has departed the organization. Ketamine One thanks Dr. Kimmins for his service as an officer of the Company since June of this year.
Outlook
Ketamine One continues to grow its mental health platform across North America and integrate its suite of complimentary assets to provide patients with innovative treatments, both in our clinics and beyond. The Company has seen early success in leveraging its clinics and KGK to bring exciting technology partners to its platform. Looking ahead, management expects to expand Ketamine One’s partnerships and to help validate products through clinical testing and the growth of the market for emerging treatments and therapeutics. The Company is also planning to expand the programs being offered in-clinic and advance its veteran health initiatives.
ABOUT KETAMINE ONE
KetamineOne Capital Limited (formerly Myconic Capital Corp.) is a company focused on consolidating medical clinics and becoming a North American leader in mental health treatments. It is working to provide the critical infrastructure needed to develop and deliver breakthrough mental health treatments. Currently, Ketamine One has a network of clinics across North America, with plans to further consolidate the highly fragmented industry. KGK Science Inc. is the Company’s wholly-owned contract research division, which places it at the forefront of premium clinical research based on the subsidiary’s history and extensive experience in pharmaceuticals, cannabis, and the emerging psychedelic medicine industries. As a collective enterprise, Ketamine One is dedicated to helping solve the growing need for safe and accessible mental health therapy.
On behalf of:
KETAMINE ONE
"Adam Deffett"
Adam Deffett, Interim CEO
For further information, please contact:
Nick Kuzyk, Investor Relations
Tel: 1-844-PHONE-K1 (1-844-746-6351)
Email: IR@ketamine.one
Web: www.ketamine.one
Twitter: @KetamineOne
Notice Regarding Forward-Looking Information:
This news release contains forward-looking statements including but not limited to statements regarding the Company’s business, assets or investments, as well other statements that are not historical facts. Readers are cautioned not to place undue reliance on forward-looking statements, as there can be no assurance that the plans, intentions or expectations upon which they are based will occur. By their nature, forward-looking statements involve numerous assumptions, known and unknown risks and uncertainties, both general and specific, that contribute to the possibility that the predictions, forecasts, projections and other forward-looking statements will not occur, which may cause actual performance and results in future periods to differ materially from any estimates or projections of future performance or results expressed or implied by such forward-looking statements. These assumptions, risks and uncertainties include, among other things, the state of the economy in general and capital markets in particular, investor interest in the business and prospects of the Company.
The forward-looking statements contained in this news release are made as of the date of this news release. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable securities law. Additionally, the Company undertakes no obligation to comment on the expectations of, or statements made, by third parties in respect of the matters discussed above.
AskMuncher
5年前
$KONEF KetamineOne Subsidiary KGK Science Helps Client Receive New Dietary Ingredient Status from U.S. FDA
Press Release | 12/02/2021
VANCOUVER, British Columbia, Dec. 02, 2021 (GLOBE NEWSWIRE) -- KetamineOne Capital Limited (“Ketamine One” or the “Company”) (NEO: MEDI) (OTC: KONEF) (FRA: MY0), a company focused on consolidating medical clinics and becoming a North American leader in mental health treatments, is pleased to announce that its wholly-owned contract research organization, KGK Science Inc. (“KGK” or the “CRO”), has successfully assisted its client, Hofseth Biocare ASA (HBC.OL) (“HBC” or the “Client”), to receive New Dietary Ingredient (“NDI”) status from the United States Food and Drug Administration (the “FDA”) for its patented CalGo® and OmeGo® branded products. HBC is a leading manufacturer and marketer of unique and innovative marine-derived calcium, protein, collagen, and lipid nutritional supplements.
Summary Highlights of the FDA’s NDI Process for HBC:
The FDA’s NDI notification process is the only pre-market gate for demonstrating quality as well as safety for both ingredients and manufacturing processes.
If the ingredient is an NDI or it has been processed in a novel way, an NDI notification is required for the US market per federal law (statute).
Not all companies follow the US statutory obligation to file NDI notifications.
The historical acknowledgment rate of NDI notifications by the FDA is only c. 30%.
HBC complied with the FDA’s statutory requirement to submit NDI notifications for the dietary ingredients contained in these novel dietary supplements, and innovative technology in how these ingredients are extracted from Norwegian Atlantic salmon.
The two letters that HBC received for CalGo® and OmeGo® are the highest safety rating and attestation the company could have received from the FDA.
CalGo® is allowed to deliver calcium at 874 mg/day, phosphorus at 460 mg/day and marine collagen protein at 1500 mg/day
OmeGo® is approved for up to 2000 mg/day for DHA and EPA polyunsaturated fatty acids.
HBC is now part of an exclusive list of companies that have successfully obtained NDI status with the FDA for their novel dietary ingredients contained in these two nutritional supplements. CalGo® has been assigned NDI report number 1225 and OmeGo® has been assigned NDI report number 1226. Approximately 50 NDI ingredients are reviewed annually by the FDA but historically only around 30% have received an FDA Acknowledgement (“AKL”) letter. The Client received separate FDA AKL letters, also called no-objection letters, for its two branded products based upon identity and safety within the FDA’s 75-day statutory evaluation period in which to respond.
CalGo® and OmeGo® are globally recognized, high quality nutritional supplements with patented innovative technology. Over recent years, HBC has invested a significant amount of capital to research these ingredients and developed a robust portfolio of patents and trademarks to protect its proprietary rights. It utilizes a novel, innovative, and sustainable hydrolysis technology to extract the full nutritional content from Norwegian Atlantic salmon. The FDA’s evaluation in an NDI review looked at both the identity of the source material and how it was processed, as well as the safety of the ingredients contained in the nutritional supplement products.
The Federal Food, Drug, and Cosmetic Act (“FD&C Act”) requires that manufacturers and distributors who wish to market dietary supplements that contain “new dietary ingredients” notify the FDA about these ingredients. The notification should include identity and chemistry information about the novel ingredients as well as the basis upon which the manufacturer or distributor has concluded that a dietary supplement containing an NDI will reasonably be expected to be safe under the conditions of use recommended or suggested in the labeling. (See Section 413(d) of the FD&C Act, 21 U.S.C. 350b(d).)
Management Commentary
“As a valued client of KGK, HBC has a novel and innovative technology for extracting nutritional components from Atlantic salmon in a very sustainable way. The FDA evaluated that innovative process and the ingredients contained in these two novel nutritional supplements and, in return, has offered the highest safety rating possible. These two acknowledgement letters from FDA speaks to the quality and safety of HBC’s CalGo® and OmeGo®,” said Najla Guthrie, President & Chief Executive Officer of KGK. “These FDA no-objection letters also help HBC in the global market as many countries outside of the US are looking for attestation that the FDA has reviewed nutritional supplements for safety. HBC has navigated that regulatory hurdle and can check that box,” added Ms. Guthrie.
“CalGo® is permitted to deliver calcium at 874 mg/day, phosphorus at 460 mg/day and marine collagen protein at 1500 mg/day. OmeGo® is approved for up to 2000 mg/day for DHA and EPA polyunsaturated fatty acids. The FDA’s NDI process is the highest benchmark of safety that a manufacturer or distributor of supplements can achieve. KGK has significant experience in helping its clients achieve their goals by earning these high marks of achievement and providing them with significant market distinction,” said Dr. Corey Hilmas, Chief Regulatory Officer of KGK. “Consumers and retailers are starting to understand what it means to have an NDI no-objection letter from the FDA. They can have confidence that the serving levels in these products are correctly chosen, based upon appropriate scientific methods and FDA review,” added Dr. Hilmas.
“Angelika Florvaag, Chief Quality Officer at HBC commented: “At HBC we pride ourselves in producing superior health ingredients to enhance human health and quality of life, above and beyond what is currently available in the market today. CalGo® and OmeGo® are uniquely traceably sourced from fresh, sashimi grade Norwegian Atlantic salmon. It is very exciting to see the US FDA endorse to such a degree, the safety and quality of our products with significant dosing flexibility, which will enable the products to be used in multiple formats and delivery methods for health supplementation.
ABOUT HOFSETH BIOCARE
HBC is a Norwegian is a consumer and pet health ingredient supplier and an incubator for new drug leads. Research is ongoing to identify the individual elements within its ingredients that modulate inflammation and the immune response with pre-clinical studies in multiple clinics and university research labs in several countries. Lead clinical and pre-clinical candidates are focused
on developing an oral pharmaceutical lead program to treat inflammatory disease driven by eosinophils. Preclinical trial work with the oil is ongoing to ameliorate lung inflammation in eosinophilic asthma and COPD ("smokers lung") as well as clinical work in COVID. Other leads are focused on the protection of the Gastro-Intestinal (GI) system against inflammation (including ulcerative colitis and the orphan condition necrotising enterocolitis) and using peptide fractions
of salmon protein hydrolysate (SPH also known as 'ProGo') as a Medical Food to help treat age-related Sarcopenia, and as a treatment for Iron Deficiency Anemia.
The company is founded on the core values of sustainability, optimal utilization of natural resources and full traceability. Through an innovative hydrolysis technology, HBC can preserve the quality of lipids, proteins and calcium from fresh salmon off-cuts.
Hofseth BioCare's headquarters are in Ålesund, Norway with branches in Oslo, London, Zürich, Chicago, Palo Alto and Tokyo.
This information is subject to the disclosure requirements pursuant to Section 5-12 of the Norwegian Securities Trading Act.
ABOUT KGK SCIENCE
Founded in 1997, KGK is a leading North American contract research organization based in London, Ontario that primarily provides high-quality clinical research trials with a focus on the nutraceutical, cannabis and emerging psychedelic industries. The business has successfully helped hundreds of companies with custom designed clinical trials and claim substantiation strategies to move products into global markets. KGK’s other existing service lines include expert regulatory support and compliance solutions, participant recruitment, research support services and consulting services. On an approximate basis, the business to date has produced 150 publications, executed over 400 clinical trials across more than 40 indications, amassed 25,000 participants in its database and collected 10 million data points.
ABOUT KETAMINE ONE
KetamineOne Capital Limited (formerly Myconic Capital Corp.) is a company focused on consolidating medical clinics and becoming a North American leader in mental health treatments. It is working to provide the critical infrastructure needed to develop and deliver breakthrough mental health treatments. Currently, Ketamine One has a network of clinics across North America, with plans to further consolidate the highly fragmented industry. KGK Science Inc. is the Company’s wholly owned contract research division, which places it at the forefront of premium clinical research based on the subsidiary’s history and extensive experience in pharmaceuticals, cannabis, and the emerging psychedelic medicine industries. As a collective enterprise, Ketamine One is dedicated to helping solve the growing need for safe and accessible mental health therapy.
On behalf of:
KETAMINE ONE
"Adam Deffett"
Adam Deffett, Interim CEO
For further information, please contact:
Nick Kuzyk, Investor Relations
Tel: 1-844-PHONE-K1 (1-844-746-6351)
Email: IR@ketamine.one
Web: www.ketamine.one
Twitter: @KetamineOne
Notice Regarding Forward-Looking Information:
This news release contains forward-looking statements including but not limited to statements regarding the Company’s business, assets or investments, as well other statements that are not historical facts. Readers are cautioned not to place undue reliance on forward-looking statements, as there can be no assurance that the plans, intentions or expectations upon which they are based will occur. By their nature, forward-looking statements involve numerous assumptions, known and unknown risks and uncertainties, both general and specific, that contribute to the possibility that the predictions, forecasts, projections and other forward-looking statements will not occur, which may cause actual performance and results in future periods to differ materially from any estimates or projections of future performance or results expressed or implied by such forward-looking statements. These assumptions, risks and uncertainties include, among other things, the state of the economy in general and capital markets in particular, investor interest in the business and prospects of the Company.
The forward-looking statements contained in this news release are made as of the date of this news release. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable securities law. Additionally, the Company undertakes no obligation to comment on the expectations of, or statements made, by third parties in respect of the matters discussed above.
SOURCE: KetamineOne Capital Limited
AskMuncher
5年前
$KONEF Ketamine One Provides Second Update on Management Cease Trade Order
Press Release | 11/29/2021
VANCOUVER, British Columbia, Nov. 29, 2021 (GLOBE NEWSWIRE) -- KetamineOne Capital Limited (“Ketamine One” or the “Company”) (NEO: MEDI) (OTC: KONEF) (FRA: 6FC), a company focused on consolidating medical clinics and becoming a North American leader in mental health treatments, is providing this update on the status of a management cease trade order (the "MCTO") granted on November 1, 2021 by the British Columbia Securities Commission under National Policy 12-203 – Management Cease Trade Order ("NP 12-203").
On November 1, 2021, the Company announced that, for reasons disclosed in the news release, there would be a delay in the filing of its financial statements, annual information form and accompanying management’s discussion and analysis for the fiscal year ended July 31, 2021 (the "Annual Filings") beyond the period prescribed under applicable Canadian securities laws (the "Default Announcement"). The Company reports that it anticipates filing the Annual Filings on or about December 10, 2021 and will provide further updates on timing as necessary.
During the MCTO, the general investing public will continue to be able to trade in the Company's listed common shares. However, the Company's chief executive officer and chief financial officer will not be able to trade in the Company's shares. Other than as disclosed in this news release, there are no material changes to the information contained in the Default Announcement. The Company confirms that it intends to satisfy the provisions of NP 12-203 and will continue to issue bi-weekly default status reports for so long as it remains in default of the Annual Filings requirement.
ABOUT KETAMINE ONE
KetamineOne Capital Limited is a company focused on consolidating medical clinics and becoming a North American leader in mental health treatments. It is working to provide the critical infrastructure needed to develop and deliver breakthrough mental health treatments. Currently, Ketamine One has a network of clinics across North America, with plans to further consolidate the highly fragmented industry. The recent addition of KGK Science Inc. as the Company’s contract research division also places the company at the forefront of premium clinical research based on its extensive experience in pharmaceuticals, cannabis, and the emerging psychedelic medicine industries. As a collective enterprise, Ketamine One is dedicated to helping solve the growing need for safe and accessible mental health therapy.
On behalf of:
KETAMINE ONE
"Adam Deffett"
Adam Deffett, Interim CEO
For further information, please contact:
Nick Kuzyk, Investor Relations
Tel: 1-844-PHONE-K1 (1-844-746-6351)
Email: IR@ketamine.one
Web: www.ketamine.one
Twitter: @KetamineOne
Notice Regarding Forward-Looking Information:
This news release contains forward-looking statements including but not limited to statements regarding the Company’s business, assets or investments, as well as other statements that are not historical facts. Readers are cautioned not to place undue reliance on forward-looking statements, as there can be no assurance that the plans, intentions or expectations upon which they are based will occur. By their nature, forward-looking statements involve numerous assumptions, known and unknown risks and uncertainties, both general and specific, that contribute to the possibility that the predictions, forecasts, projections and other forward-looking statements will not occur, which may cause actual performance and results in future periods to differ materially from any estimates or projections of future performance or results expressed or implied by such forward-looking statements. These assumptions, risks and uncertainties include, among other things, the state of the economy in general and capital markets in particular, investor interest in the business and future prospects of the Company.
The forward-looking statements contained in this news release are made as of the date of this news release. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable securities law. Additionally, the Company undertakes no obligation to comment on the expectations of, or statements made, by third parties in respect of the matters discussed above.
AskMuncher
5年前
$KONEF Ketamine One Provides Update on Management Cease Trade Order
Press Release | 11/15/2021
VANCOUVER, British Columbia, Nov. 15, 2021 (GLOBE NEWSWIRE) -- KetamineOne Capital Limited (“Ketamine One” or the “Company”) (NEO: MEDI) (OTC: KONEF) (FRA: 6FC), a company focused on consolidating medical clinics and becoming a North American leader in mental health treatments, is providing this update on the status of a management cease trade order (the "MCTO") granted on November 1, 2021 by the British Columbia Securities Commission under National Policy 12-203 – Management Cease Trade Order ("NP 12-203").
On November 1, 2021, the Company announced that, for reasons disclosed in the news release, there would be a delay in the filing of its financial statements, annual information form and management’s discussion and analysis for the fiscal year ended July 31, 2021 (the "Annual Filings") beyond the period prescribed under applicable Canadian securities laws (the "Default Announcement"). The Company reports that it anticipates filing the Annual Filings on or about November 29, 2021 and will provide further updates on the timing of the filing, as necessary.
During the MCTO, the general investing public will continue to be able to trade in the Company's listed common shares. However, the Company's chief executive officer and chief financial officer will not be able to trade in the Company's shares. Other than as disclosed in this news release, there are no material changes to the information contained in the Default Announcement. The Company confirms that it intends to satisfy the provisions of NP 12- 203 and will continue to issue bi-weekly default status reports for so long as it remains in default of the Annual Filings requirement.
ABOUT KETAMINE ONE
KetamineOne Capital Limited is a company focused on consolidating medical clinics and becoming a North American leader in mental health treatments. It is working to provide the critical infrastructure needed to develop and deliver breakthrough mental health treatments. Currently, Ketamine One has a network of clinics across North America, with plans to further consolidate the highly fragmented industry. The recent addition of KGK Science Inc. as the Company’s contract research division also places the company at the forefront of premium clinical research based on its extensive experience in pharmaceuticals, cannabis, and the emerging psychedelic medicine industries. As a collective enterprise, Ketamine One is dedicated to helping solve the growing need for safe and accessible mental health therapy.
On behalf of:
KETAMINE ONE
"Adam Deffett"
Adam Deffett, Interim CEO
For further information, please contact:
Nick Kuzyk, Investor Relations
Tel: 1-844-PHONE-K1 (1-844-746-6351)
Email: IR@ketamine.one
Web: www.ketamine.one
Twitter: @KetamineOne
Notice Regarding Forward-Looking Information:
This news release contains forward-looking statements including but not limited to statements regarding the Company’s business, assets or investments, as well as other statements that are not historical facts. Readers are cautioned not to place undue reliance on forward-looking statements, as there can be no assurance that the plans, intentions or expectations upon which they are based will occur. By their nature, forward-looking statements involve numerous assumptions, known and unknown risks and uncertainties, both general and specific, that contribute to the possibility that the predictions, forecasts, projections and other forward-looking statements will not occur, which may cause actual performance and results in future periods to differ materially from any estimates or projections of future performance or results expressed or implied by such forward-looking statements. These assumptions, risks and uncertainties include, among other things, the state of the economy in general and capital markets in particular, investor interest in the business and future prospects of the Company.
The forward-looking statements contained in this news release are made as of the date of this news release. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable securities law. Additionally, the Company undertakes no obligation to comment on the expectations of, or statements made, by third parties in respect of the matters discussed above.
SOURCE: KetamineOne Capital Limited
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