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  • Two Core One Labs (COOL) subsidiaries have partnered to help a patient complete an application to legally access psilocybin for psychedelic-assisted therapy
  • The application for exemption is being made under the Controlled Drugs and Substances Act of Canada.
  • Core One Labs subsidiaries Rejuva Mental Health Clinic and Bluejay Mental Health Group are working together on the application
  • Bluejay intends to be one of the first clinics to have its patients granted the section exemption as it has been at the forefront of the progressive health movement
  • Core One Labs is down 0.88 per cent, trading at $5.60 at 12:27 pm ET

Two Core One Labs (COOL) subsidiaries are helping a patient complete an application to legally access psilocybin for psychedelic-assisted therapy.

The application for exemption is being made under the Controlled Drugs and Substances Act of Canada.

Core One Labs subsidiaries Rejuva Mental Health Clinic and Bluejay Mental Health Group are working together on the application.

In Canada, psychedelics are classified as controlled substances and are prohibited for all use, unless a successful application for exemption under section 56 of the Act is made to the Federal Minister of Health.

In recent years Health Canada has endeavoured to increase access to psychedelic medicine for patients facing mental health challenges, including providing select approvals for exemption.

Bluejay intends to be one of the first clinics to have its patients granted the section 56(1) exemption as it has been at the forefront of the progressive health movement for years.

“With a growing roster of clinics under our umbrella, Core One continues to execute on its long-term goal of developing an internal patient base for its biosythensized psilocybin and psychedelic treatments. Submitting the application for a section 56(1) exemption is the next step in allowing our patients access to these varieties of treatments, and as one of the first companies to do so, we will be positioned as a leader in the adoption of exemptions for patients. This scalable business model has untapped potential as patients begin to receive exemptions for mental health issues ranging from depression to addiction,” said Core One CEO Joel Shacker.

Vancouver-based Core One Labs is a biotechnology research and technology life sciences enterprise focused on bringing psychedelic medicines to market through novel delivery systems and psychedelic-assisted psychotherapy. 

Core One has developed a patent-pending thin film oral strip that dissolves instantly when placed in the mouth and delivers organic molecules in precise quantities to the bloodstream, maintaining excellent bioavailability.

Core One Labs is down 0.88 per cent, trading at $5.60 at 12:27 pm ET.

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