CBDV Rebrands as DELIC Labs, Cementing Its Place in the DELIC Ecosystem

Federally-Licensed Lab to Power Psilocybin and Cannabis R&D, IP and Innovative Product Lines for Mass Markets

VANCOUVER, BC, June 29, 2021 /CNW/ - Delic Corp Inc. ("DELIC" or the "Company") (CSE: DELC) (OTCQB: DELCF), the leading psychedelic wellness platform, today announced its recently acquired entity, Complex Biotech Discovery Ventures Ltd. (CBDV) has been rebranded as DELIC Labs. DELIC Labs is a federally-authorized psilocybin and cannabis research laboratory focused on extraction, analytical testing, and chemical process development. DELIC Labs will serve as the engine for the DELIC platform, conducting research and developing innovative product lines and intellectual property (IP), including psilocybin vaporization technology for future distribution across the Company's physical footprint and licensed psychedelic wellness clinics in the United States. As part of the rebrand, DELIC Labs launched a new website, logo and branding to more accurately reflect its role within the DELIC platform. 

"DELIC Labs is the engine of our platform, powering innovation, IP generation and the highest-quality products we can offer our expanding patient base across the country," said Matt Stang, Founder and CEO of DELIC. "This rebrand brings the lab further into our self-sustaining ecosystem and ensures patients, investors, partners and our communities understand the connection between the companies and brands that make up our platform." 

"We are thrilled to be an integral part of the DELIC platform and provide high-quality research and products to an ever-growing number of patients." said Dr. Markus Roggen, DELIC Labs' President and CSO. "The resources and connections the DELIC team brings to our network will help ensure long-term success in psychedelic innovation and technology throughout the world." 

Founded by award-winning chemist, Dr. Markus Roggen, and UBC Professor, Dr. Glenn Sammis, DELIC Labs supports the psychedelic industry with high precision chemical analytics,  metabolomic identification and process optimization. DELIC Labs is one of a handful of licensed psilocybin research labs in Canada and has an aggressive plan to build out a suite of novel compounds and delivery methods for the industry. DELIC Labs is also a leading cannabis analytical and research company boasting clients that include some of the largest brands in the world. DELIC Labs is applying for a Dealer's License, and intends to eventually commercialize its psilocybin research and associated intellectual property (IP).

Recently Completed Acquisition Highlights

• The acquisition of DELIC Labs further establishes DELIC as a diversified psychedelics organization: The addition of DELIC Labs allows DELIC to add scientific-based research and analytics to its product offerings. DELIC Labs recently received its Section 56 Exemption granted by Health Canada, enabling DELIC Labs to focus on research and intellectual property development in the psychedelics space.
• Building an IP portfolio: DELIC Labs plans to use its analytical tools for psychedelic compounds to advance clinical ‎and end-user testing. In addition, it will develop psilocybin analogs and products that could be used in future medical ‎treatments.
• Enhanced exposure to drive growth: DELIC expects to drive customers to DELIC Labs for its psychedelic and cannabis related laboratory services through its media platform, allowing DELIC Labs to expand its current customer base and potential product offerings.
• History of profitability: DELIC Labs has a history of profitability, with a focus on extraction optimization, analytical testing, and chemical process development to advance the cannabis and psilocybin industries. Current and past customers are well-established global enterprises who require the cutting-edge cannabis and psilocybin research services that DELIC Labs provides.
• Management expertise. Dr. Roggen, who remains an employee of DELIC Labs, brings a wealth of knowledge and industry experience to DELIC in this critically important and evolving space.

About DELIC Labs (formerly Complex Biotech Discovery Ventures Ltd.)

DELIC Labs is a federally licensed cannabis and psilocybin research laboratory focused on extraction optimization, analytical testing, and process development. Based at the University of British Columbia in Vancouver, Canada and founded by award-winning chemists Dr. Markus Roggen and UBC Professor Dr. Glenn Sammis, DELIC Labs uses precision chemical analytics and metabolomics identification to develop IP, produce novel products for patients, and advance the cannabis and psychedelic wellness industries. Part of the DELIC Corp family, the leading psychedelic wellness platform, DELIC Labs powers innovation and treatment options with an ever-expanding line of unique and high-quality products for markets that allow legal cannabis and psychedelic-based care. 

About DELIC Corp, Inc.

DELIC is the leading psychedelic wellness platform, committed to bringing science-backed benefits to all and reframing the psychedelic conversation. The company owns and operates an umbrella of related businesses, including trusted media and e-commerce platforms like Reality Sandwich and Delic Radio, Delic Labs, the only licensed entity by Health Canada to exclusively focus on research and development of psilocybin vaporization technology, Meet Delic the premiere psychedelic wellness event, and Ketamine Infusion Centers (under binding acquisition agreement) one of the largest ketamine clinics in the country. DELIC is backed by a team of industry and cannabis veterans and a diverse network, whose mission is to provide education, research, high-quality products, and treatment options to the masses.

The Canadian Securities Exchange ‎has neither approved nor disapproved the contents of this news release and does not accept responsibility ‎for the adequacy or accuracy of this release.‎

This news release does not constitute an offer to sell, or a solicitation of an offer to buy, any securities ‎in the United States. The securities have not been and will not be registered ‎under the United States ‎Securities Act of 1933, as amended (the "U.S. Securities Act"), or any state ‎securities laws and may not be offered or ‎sold within the United States unless registered under the U.S. ‎Securities Act and applicable state securities laws or an ‎exemption from such registration is available.‎

Forward-Looking Information and Statements

This press release contains certain "forward-looking information" within the meaning of applicable ‎Canadian securities ‎legislation and may also contain statements that may constitute "forward-looking ‎statements" within the meaning of ‎the safe harbor provisions of the United States Private Securities ‎Litigation Reform Act of 1995. Such forward-looking ‎information and forward-looking statements are not ‎representative of historical facts or information or current ‎condition, but instead represent only the ‎Company's beliefs regarding future events, plans or objectives, many of ‎which, by their nature, are ‎inherently uncertain and outside of DELIC's control. Generally, such forward-looking ‎information or ‎forward-looking statements can be identified by the use of forward-looking terminology such as ‎‎"plans", ‎‎"expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", ‎‎‎"anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or may ‎contain ‎statements that certain actions, events or results "may", "could", "would", "might" or "will be ‎taken", "will continue", ‎‎"will occur" or "will be achieved". The forward-looking information and forward-‎looking statements contained herein ‎may include, but are not limited to, information concerning listing on the Canadian Securities Exchange, anticipated continued growth in the health and wellness sector (and, in particular, related to psychedelics), the continued emergence of psychedelics from stigmas, the ability of the Company to maintain sensible messaging, the ability of the Company to avoid dogmatic practices and binary rhetoric‎, the ability of DELIC to successfully achieve business ‎objectives, ‎and expectations ‎for other economic, ‎business, and/or competitive factors.‎

By identifying such information and statements in this manner, DELIC is alerting the reader that ‎such ‎information and statements are subject to known and unknown risks, uncertainties and other factors ‎that may cause ‎the actual results, level of activity, performance or achievements of DELIC to be ‎materially different from those ‎expressed or implied by such information and statements. In addition, in ‎connection with the forward-looking ‎information and forward-looking statements contained in this press ‎release, DELIC has made certain ‎assumptions. Among the key factors that could cause actual ‎results to differ materially from those projected in the ‎forward-looking information and statements are the ‎following: the ability to consummate the Proposed Transaction; ‎the ability to ‎obtain requisite regulatory and securityholder approvals and the satisfaction of ‎other conditions to the ‎consummation of the Proposed Transaction on the proposed terms and schedule; the ability to ‎satisfy the ‎conditions to the conversion of the Subscription ‎‎Receipts (as defined in the Previous Press Release); the potential impact of the announcement or consummation of the Proposed Transaction on ‎relationships, ‎including with regulatory bodies, employees, suppliers, customers and competitors; ‎changes in general economic, ‎business and political conditions, including changes in the financial ‎markets; changes in applicable laws; compliance ‎with extensive government regulation; and the diversion ‎of management time on the Proposed Transaction.‎

Should one or more of these risks, uncertainties or other factors materialize, or should assumptions ‎underlying the ‎forward-looking information or statements prove incorrect, actual results may vary ‎materially from those described ‎herein as intended, planned, anticipated, believed, estimated or ‎expected.‎

Although DELIC believes that the assumptions and factors used in preparing, and the expectations ‎contained ‎in, the forward-looking information and statements are reasonable, undue reliance should not ‎be placed on such ‎information and statements, and no assurance or guarantee can be given that such ‎forward-looking information and ‎statements will prove to be accurate, as actual results and future events ‎could differ materially from those anticipated ‎in such information and statements. The forward-looking ‎information and forward-looking statements contained in this ‎press release are made as of the date of ‎this press release, and DELIC does not undertake to update any ‎forward-looking information ‎and/or forward-looking statements that are contained or referenced herein, except in ‎accordance with ‎applicable securities laws. All subsequent written and oral forward- looking information and ‎statements ‎attributable to DELIC or persons acting on its behalf is expressly qualified in its entirety by this ‎‎notice.‎

SOURCE Delic Holdings Inc.

Investor Relations Contact: Daniel Southan-Dwyer, Corporate Development, [email protected]