New CEO of Core One Labs Mr Joel Shacker is also C
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Posted On: 08/01/2020 12:51:44 PM
New CEO of Core One Labs Mr Joel Shacker is also CEO of Rewardstream, not Buyapowa which is former Rewardstream sub Rewardstream NA. Here is latest Core One PR. Keep in mind they had a ticker change listed on FINRA yesterday and takes effect Monday morning:
Core One Labs Provides Update on Financial Statements
and Management Cease Trade Order
Vancouver, British Columbia, Canada – July 15, 2020 – Core One Labs Inc. (CSE:
COOL), (OTCQX: CLABD), (Frankfurt: LD62, WKN: A2P8K3) (the “Company”). The
Company wishes to advise its valued shareholders that the new management team
(“Management”) is currently working with its auditor and accountants around the clock to
finalize its audited financial statements and the related management’s discussion and
analysis (“MD&A”) for the year-ended December 31, 2019. With the majority of the
Company’s operations being located in California, COVID -19 has caused delays to the
audit that are beyond Management’s control due to the ongoing border closure with the
United States, travel restrictions arising from the ongoing pandemic, and related
lockdowns imposed by the State of California.
Management continues to work closely with its auditor to ensure the audit is completed
as close to the July 15
th deadline as possible. At the outset, Management was able to
identify the areas of the audit which required the most amount of attention, and moved to
address those immediately, including deploying funds from the recently completed
financing to settle an outstanding account with the auditors. Daily update calls are being
done with the auditors and accountants to ensure the auditors have the full support of
Management to expedite this process and ensure that shareholder value is not lost due
to a prolonged cease trade.
The Company confirms that it has the financial resources necessary to complete the
audit, and now anticipates being in a position to file the audited financial statements for
the year-ended December 31, 2019, along with the interim financial statements for the
three-month period ended March 31, 2020, and their related MD&A (collectively, the
“Required Filings”), by July 31, 2020.
“With new management coming on board, our goal is to create shareholder value and
build a strong Company. Although there were some clean-up issues when we took over
management of the Company, we feel that we have a handle on all items that impact the
Company, and are excited about moving the Company forward. The Company is now
properly capitalized with two operating assets which are generating monthly revenue. I
feel that we are in a strong position to grow the business and create shareholder value,
once we get through this challenge,” said Joel Shacker, CEO of the Company.
The Company is currently subject to a management cease trade order (“MCTO”) issued
by the British Columbia Securities Commission (“BCSC”) on June 16, 2020. The BCSC
has now notified the Company that it will not consent to an extension of the MCTO beyond
July 15, 2020, and as a result the Company anticipates that a general cease trade order
will be issued by the BCSC. It is anticipated that a general cease trade order will remain
in effect, and trading in the securities of the Company will be suspended, until the
Required Filings are completed.
About Core One Labs Inc.
Core One Labs Inc. is a technology company that licenses its technology to a state-ofthe-art production and packaging facility located in Southern California. The Company’s
technology produces infused strips (like breath strips) that are not only a safer, healthier
option to other forms of delivery but also superior bioavailability of cannabis constituents.
Some strips will also include supplemental co-active ingredients such as nutraceuticals,
vitamins and peptides. The technology provides a new way to accurately meter the
dosage and assure the purity of selected product.
Core One Labs Inc.
Joel Shacker
Chief Executive Officer
Core One Labs Provides Update on Financial Statements
and Management Cease Trade Order
Vancouver, British Columbia, Canada – July 15, 2020 – Core One Labs Inc. (CSE:
COOL), (OTCQX: CLABD), (Frankfurt: LD62, WKN: A2P8K3) (the “Company”). The
Company wishes to advise its valued shareholders that the new management team
(“Management”) is currently working with its auditor and accountants around the clock to
finalize its audited financial statements and the related management’s discussion and
analysis (“MD&A”) for the year-ended December 31, 2019. With the majority of the
Company’s operations being located in California, COVID -19 has caused delays to the
audit that are beyond Management’s control due to the ongoing border closure with the
United States, travel restrictions arising from the ongoing pandemic, and related
lockdowns imposed by the State of California.
Management continues to work closely with its auditor to ensure the audit is completed
as close to the July 15
th deadline as possible. At the outset, Management was able to
identify the areas of the audit which required the most amount of attention, and moved to
address those immediately, including deploying funds from the recently completed
financing to settle an outstanding account with the auditors. Daily update calls are being
done with the auditors and accountants to ensure the auditors have the full support of
Management to expedite this process and ensure that shareholder value is not lost due
to a prolonged cease trade.
The Company confirms that it has the financial resources necessary to complete the
audit, and now anticipates being in a position to file the audited financial statements for
the year-ended December 31, 2019, along with the interim financial statements for the
three-month period ended March 31, 2020, and their related MD&A (collectively, the
“Required Filings”), by July 31, 2020.
“With new management coming on board, our goal is to create shareholder value and
build a strong Company. Although there were some clean-up issues when we took over
management of the Company, we feel that we have a handle on all items that impact the
Company, and are excited about moving the Company forward. The Company is now
properly capitalized with two operating assets which are generating monthly revenue. I
feel that we are in a strong position to grow the business and create shareholder value,
once we get through this challenge,” said Joel Shacker, CEO of the Company.
The Company is currently subject to a management cease trade order (“MCTO”) issued
by the British Columbia Securities Commission (“BCSC”) on June 16, 2020. The BCSC
has now notified the Company that it will not consent to an extension of the MCTO beyond
July 15, 2020, and as a result the Company anticipates that a general cease trade order
will be issued by the BCSC. It is anticipated that a general cease trade order will remain
in effect, and trading in the securities of the Company will be suspended, until the
Required Filings are completed.
About Core One Labs Inc.
Core One Labs Inc. is a technology company that licenses its technology to a state-ofthe-art production and packaging facility located in Southern California. The Company’s
technology produces infused strips (like breath strips) that are not only a safer, healthier
option to other forms of delivery but also superior bioavailability of cannabis constituents.
Some strips will also include supplemental co-active ingredients such as nutraceuticals,
vitamins and peptides. The technology provides a new way to accurately meter the
dosage and assure the purity of selected product.
Core One Labs Inc.
Joel Shacker
Chief Executive Officer
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