Ketamine One signs definitive agreement to acquire Integrated Rehab and Performance Ltd.


The company also closed its previously announced acquisition of KGK Science

VANCOUVER, British Columbia, June 03, 2021 (GLOBE NEWSWIRE) – KetamineOne Capital Limited (formerly Myconic Capital Corp.) (“Ketamine One” or the “Company”) (NEO: MEDI), a company focused on consolidating medical clinics and becoming a North American leader in mental health treatments, is pleased to announce that it has reached a definitive agreement (the “Agreement“) on the basis of the letter of intent (“Letter of Intent“) previously announced on April 23, 2021 to acquire 100% of the outstanding and issued shares of Integrated Rehab and Performance Ltd. (“IRP“) (the “Transaction“). In accordance with the terms of the Agreement and subject to the closing of the Transaction, the founder and CEO of IRP (“CEO“), Steven Inglefield, has agreed to become director of Ketamine One.

Based in Victoria, IRP has performed over 10,000 unique treatments since its inception in 2017. IRP operates the first and only multidisciplinary physiotherapy clinic in Canada exclusively for patients who are past or current staff members of the Canadian Armed Forces or the Royal Canadian Mounted Police, as well as first responders, including firefighters, law enforcement, paramedics and emergency medical technicians. Its team of experts brings together the fields of physiology, physiotherapy, occupational therapy, kinesiology and nutrition to offer personalized and comprehensive pain management and rehabilitation programs and services.

“The IRP team is thrilled to join Ketamine One and combine its resources to grow its clinics across Canada. With the help of the company, we will now be able to grow faster and help more veterans and first responders from coast to coast to coast, ”said Steven Inglefield, Founder and CEO of the IRP. “The potential results of collaborating and integrating with the other clinics acquired by Ketamine One are intriguing, especially those located in cities with large veterans communities like Ottawa and Halifax. We believe this approach could generate new patient services, additional revenue streams and opportunities for expansion into national and international markets, ”added Mr. Inglefield.

In consideration for the Transaction, the Company will pay $ 1,000,000 in common shares of the Company (the “Counterpart actions“) at the close of the Transaction (the”Closing Date“) and up to 700,000 additional common shares of the Company on IRP successfully meeting certain revenue and expansion milestones (the”Significant actions“). The counterpart shares and milestone shares will be issued based on the volume weighted average price (VWAP) of the Company’s common shares during the 10 days preceding the signing of the agreement or the date on which the shares are vested, as the case may be. . The Compensation Shares will be subject to voluntary blocking for a period of 18 months with 5% freely negotiable on the Closing Date and 15.83% released quarterly over six quarters from the Closing Date. The Company deals at arm’s length with IRP. The transaction remains subject to NEO exchange approval and is expected to close during the week of June 7, 2021.

Completion of the acquisition of KGK Science

The Company is also pleased to announce that it has completed its previously announced acquisition (the “Acquisition“) by KGK Science Inc. (“KGK“) by Auxly Cannabis Group Inc. (“Auxly“). Pursuant to the terms of the acquisition previously announced, $ 1,500,000 in cash was paid and 6,451,612 common shares of the Company (the “Counterpart actions”) Were issued to Auxly, with a subsequent cash amount of $ 1,000,000 to be paid six months after closing. The Counterpart Shares issued in connection with the Acquisition will become negotiable in four equal installments during the first year after the Closing Date. Likewise, in connection with the closing of the acquisition of KGK and subject to acceptance by the NEO Exchange, Ketamine One issued a total of 967,741 ordinary shares of the Company (the “Free actions”) To retain a former executive of KGK and become a current executive of Ketamine One. The free shares have been paid in accordance with the bonus recognition agreement and will become negotiable in four equal installments during the first year following the closing date.

OTC symbol change

The review requested by the company for a symbol change was carried out by OTC Markets Group. Along with the name change, the new OTC symbol will be KONEF as of June 3, 2021.

ABOUT KETAMINE ONE

KetamineOne Capital Limited (formerly Myconic Capital Corp.) (NEO: MEDI) is a company focused on consolidating medical clinics and becoming a North American leader in mental health treatments. It strives to provide the essential infrastructure needed to develop and deliver breakthrough mental health treatments. Currently, Ketamine One has a network of 15 clinics across North America, with plans to further consolidate the highly fragmented industry. The recent addition of KGK Science Inc. as the contract research division of the company also places the company at the forefront of high-end clinical research based on its 23-year history and its extensive experience in the pharmaceutical, cannabis and emerging psychedelic medicine industries. As a collective enterprise, Ketamine One is dedicated to helping address the growing need for safe and accessible mental health therapy.

On behalf of:

KETAMINE ONE

Robert meister
Robert Meister, CEO and Director

For more information, please contact:

Nick Kuzyk, Investor Relations
Tel: 1-844-PHONE-K1 (1-844-746-6351)
Email: [email protected]
The Web: www.ketamine.one
Twitter: @KetamineOne

Notice regarding forward-looking information:

This press release contains forward-looking statements, including, but not limited to, statements regarding the business, assets or investments of the Company, as well as other statements which 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 be achieved. By their nature, forward-looking statements involve many assumptions, known and unknown risks and uncertainties, both general and specific, that contribute to the possibility that predictions, forecasts, projections and other forward-looking statements will not be achieved. which may cause the performance and results of future periods to differ materially from any estimate or projection 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 the financial markets in particular, the interest of investors in the activities and future prospects of the Company.

The forward-looking statements contained in this press release are made as of the date of this press release. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise forward-looking statements, whether as a result of new information, future events or otherwise, except as required. by applicable securities law. Further, the Company assumes no obligation to comment on any expectations or statements made by third parties with respect to the matters discussed above.


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