Levitee Labs to Commence Trading on the Canadian Securities Exchange Under the Ticker Symbol “LVT” on Wednesday, July 21st 2021
July 19th, 2021
- Levitee currently operates two units, Sporeo Supply and Monk-E Nutraceuticals, while aggressively targeting cash flowing wellness assets through accretive M&A
- Multiple letters of intent executed for acquisitions of addiction & pain clinics, pharmacies, an omnichannel superfoods and supplements brand and a late-stage applicant for a Health Canada Dealer’s License
- Over CDN$12 million raised to date through non-brokered private placements
VANCOUVER, British Columbia, July 19, 2021 (GLOBE NEWSWIRE) — Levitee Labs Inc. (the “Company” or “Levitee”) is pleased to announce that it has received final approval from the Canadian Securities Exchange (“CSE”) to list its common shares on the CSE. At the opening of the market on July 21, the common shares of Levitee will begin trading under the ticker symbol “LVT”. Please see https://thecse.com/en/listings/life-sciences/levitee-labs-inc for more information.
Levitee is a functional mushrooms company focused on the development and sale of high potency mushroom extract nutraceuticals and supplies and equipment for mushroom cultivation. The Levitee leadership team is composed of diverse and complementary skillsets, deriving from past successes in entrepreneurship, clinical research, venture capital, M&A, operations, technology and psychedelics.
The Company currently operates two divisions: Sporeo Supply, which manufactures proprietary, premium mushroom cultivation feedstock at its state-of-the-art facility in British Columbia; and MONK-E Nutraceuticals, which produces a line of adaptogenic mushroom-based nutraceutical supplements with a core focus on mushroom extracts. Through multiple executed letters of intent (“LOIs”), Levitee also hopes to soon complete four acquisitions that will expand its portfolio of assets:
- ACT Medical Inc., a group of six (6) addiction clinics and three (3) specialized pharmacies treating over 20,000 addiction and pain management patients annually;
- Earth Circle Organics Inc., an online DTC (direct-to-consumer) and wholesale superfoods and supplements brand primarily operating in the United States;
- BODIE Phytoceuticals Ltd., a functional mushroom-based tea company; and
- 1253135 BC Ltd., a late-stage applicant for a Controlled Drugs and Substances Act (CDSA) license from Health Canada.
The Company is well capitalized to achieve these milestones, following the closing of an oversubscribed non-brokered private placement carried out in February 2021, which raised aggregate gross proceeds of CDN$10,570,000. To date, the Company has raised in excess of CDN$12 million in outside funding.
“We believe the timing could not be better for us to enter the public markets on the CSE, an exchange well recognized for innovators and disruptors,” said Pouya Farmand, Chief Executive Officer of Levitee. “We are early in a truly exciting period in healthcare where psychedelics and mushroom-based therapies and supplements represent an opportunity to provide meaningful benefits to millions of people in need where conventional medicines have collectively failed in the areas of mental health, chronic pain and substance abuse. We are cementing cornerstones of our diversified growth strategy that will distinguish us as a market leader in multiple verticals and we look forward to sharing more developments respecting our roll-up strategy and activities with shareholders.”
About Levitee Labs
Levitee is a functional mushrooms company, focused on the development and sale of high potency mushroom extract nutraceuticals and supplies and equipment for mushroom cultivation. Levitee believes, based on a growing body of research, that mushrooms can be an effective way to enhance wellbeing and potentially treat various kinds of mental and physical health problems. Through a disciplined M&A strategy, Levitee hopes to soon complete four acquisitions that will expand its portfolio of assets in the emerging integrative wellness space. Further information about the Company is available on its website at www.leviteelabs.com.
This news release contains certain statements that may constitute forward-looking information under applicable securities laws. All statements, other than those of historical fact, which address activities, events, outcomes, results, developments, performance, or achievements that Levitee anticipates or expects may or will occur in the future (in whole or in part) should be considered forward-looking information. Such information may involve, but is not limited to, statements respecting Levitee’s business plans and proposed products, Levitee’s anticipated expansion strategy and the execution of the transactions contemplated under the LOIs. Forward-looking information is based on currently available competitive, financial and economic data and operating plans, strategies or beliefs as of the date of this news release, but involves known and unknown risks, uncertainties, assumptions and other factors that may cause the actual results, performance or achievements of Levitee to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information. These risks and uncertainties include, but are not limited to, those identified and reported in the Company’s public filings under the Company’s SEDAR profile at www.sedar.com. Although the Company believes that the expectations reflected in its forward-looking statements are reasonable, it can give no assurance that any such statements will prove to be correct. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking statements to reflect actual results, whether as a result of new information, future events, changes in assumptions, changes in factors affecting such forward-looking statements or otherwise. Any and all forward-looking information contained in this press release is expressly qualified by this cautionary statement.
The CSE (operated by CNSX Markets Inc.) has neither approved nor disapproved of the contents of this press release.
For further information about Levitee, please contact:
Levitee Media Contact
Levitee Investor and Corporate Communications
This article was published by CFN Enterprises Inc. (OTCQB: CNFN), owner and operator of CFN Media, the industry’s leading agency and digital financial media network dedicated to the burgeoning CBD and legal cannabis industries. Call +1 (833) 420-CNFN for more information.
Follow Us on Social Media
About CFN Media Group
CFN Enterprises Inc. (OTCQB: CNFN) owns and operates CFN Media Group, the premier agency and financial media network reaching executives, entrepreneurs and consumers worldwide. Through its proprietary content creation, video library, and distribution via www.CannabisFN.com, CFN has built an extensive database of cannabis interest, assisting many of the world’s largest cannabis firms and CBD brands to build awareness and thrive. For more information, please visit www.cfnenterprisesinc.com.
Disclaimer: Matters discussed on this website contain forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from any future results, performance or achievements expressed or implied by such statements. CFN Media Group, which owns CannabisFN, is not registered with any financial or securities regulatory authority and does not provide nor claims to provide investment advice or recommendations to readers of this release. CFN Media Group, which owns CannabisFN, may from time-to-time have a position in the securities mentioned herein and will increase or decrease such positions without notice. The Information contains forward-looking statements, i.e. statements or discussions that constitute predictions, expectations, beliefs, plans, estimates, or projections as indicated by such words as "expects", "will", "anticipates", and "estimates"; therefore, you should proceed with extreme caution in relying upon such statements and conduct a full investigation of the Information and the Profiled Issuer as well as any such forward-looking statements. Any forward looking statements we make in the Information are limited to the time period in which they are made, and we do not undertake to update forward looking statements that may change at any time; The Information is presented only as a brief "snapshot" of the Profiled Issuer and should only be used, at most, and if at all, as a starting point for you to conduct a thorough investigation of the Profiled Issuer and its securities and to consult your financial, legal or other adviser(s) and avail yourself of the filings and information that may be accessed at www.sec.gov, www.pinksheets.com, www.otcmarkets.com or other electronic sources, including: (a) reviewing SEC periodic reports (Forms 10-Q and 10-K), reports of material events (Form 8-K), insider reports (Forms 3, 4, 5 and Schedule 13D); (b) reviewing Information and Disclosure Statements and unaudited financial reports filed with the Pink Sheets or www.otcmarkets.com; (c) obtaining and reviewing publicly available information contained in commonlyknown search engines such as Google; and (d) consulting investment guides at www.sec.gov and www.finra.com. You should always be cognizant that the Profiled Issuers may not be current in their reporting obligations with the SEC and OTCMarkets and/or have negative signs at www.otcmarkets.com (See section below titled "Risks Related to the Profiled Issuers, which provides additional information pertaining thereto). For making specific investment decisions, readers should seek their own advice and that of their own professional advisers. CFN Media Group, which owns CannabisFN, may be compensated for its Services in the form of cash-based and/or equity-based compensation in the companies it writes about, or a combination of the two. For full disclosure, please visit: https://www.cannabisfn.com/legal-disclaimer/. A short time after we acquire the securities of the foregoing company, we may publish the (favorable) information about the issuer referenced above advising others, including you, to purchase; and while doing so, we may sell the securities we acquired. In addition, a third-party shareholder compensating us may sell his or her shares of the issuer while we are publishing favorable information about the issuer. Except for the historical information presented herein, matters discussed in this article contain forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from any future results, performance or achievements expressed or implied by such statements. CFN Media Group, which owns CannabisFN, is not registered with any financial or securities regulatory authority, and does not provide nor claims to provide investment advice or recommendations to readers of this release. CFN Media Group, which owns CannabisFN, may from time to time have a position in the securities mentioned herein and will increase or decrease such positions without notice. For making specific investment decisions, readers should seek their own advice and that of their own professional advisers. CFN Media Group, which owns CannabisFN, may be compensated for its Services in the form of cash-based and/or equity- based compensation in the companies it writes about, or a combination of the two. For full disclosure please visit: https://www.cannabisfn.com/legal-disclaimer/.