CECORS,
INC. SHAREHOLDER UPDATE
Las Vegas, NV --
January 14, 2021 -- InvestorsHub NewsWire
-- CECORS, INC. (OTC
PINK: CEOS) ("CeCors" or the
"Company"), is pleased to announce that the Company is
transitioning into the Psychedelics Market, with a direction that
includes a complete overhaul of the management team, bringing the
Company to current status and delivering exciting growth for our
shareholders.
The newly appointed management of
PsyKey Inc. will oversee
operations of CeCors as we look ahead to build a viable,
sustainable, and innovative company that will become a category
leader as psychedelics become
legal in more and more jurisdictions. The previous
officers and/or directors no longer have any relationship with
CeCors, and we wish them well in their future endeavors. The
Company has begun the process of becoming current in its reporting
obligations with the OTC Markets, beginning with financials,
completing a successful audit, and updating new director
biographies accordingly.
The Acquisition Agreement between the two
companies allows CeCors to purchase all outstanding shares of
PsyKey Inc., a Canadian federal corporation. PsyKey Inc. will
operate as a wholly-owned Canadian subsidiary of CeCors until the
Company achieves current status with OTC Markets. At that point,
they will look to a name change to PsyKey World. The Company has
completed an Authorized Share increase of 250 million shares, for a
total of 500 million Authorized Shares in order to accommodate for
the acquisition. There are no outstanding convertible notes, and
all shares issued in consideration for the purchase of PsyKey Inc.
will be subject to standard regulatory restriction
periods.
PsyKey's vision
entails:
- Valuable intellectual property
portfolio
- Unique innovative delivery
systems
- Product expansion
- Strong management team that values
execution
"Being cognizant of the fact that most entheogenic
and psychedelic companies are years away from realizing revenue,
let alone profitability, we took a different approach. PsyKey Inc.
is developing retail-ready nootropic-based consumables, utilizing
our innovative delivery systems. This will allow us to not only
generate revenue but also create brand awareness while navigating
the waters of the fast-evolving psychedelic market. With our
innovative delivery systems and the furthered development of our
proprietary technologies, intellectual property, and patent
portfolio, PsyKey Inc. is excited to build a strong position in
this growing and evolving industry". Concluded Amar Bhatal,
president CeCors, Inc.
Mr. Bhatal reports the Company has updated the
Nevada Secretary of State with the new officers and directors and
will be completing the forms necessary to update OTC Markets for
Current Status to OTC PINK.
According to Data Bridge Market Research,
the psychedelic market is growing with a CAGR of 16.3% in the
forecast period of 2020 to 2027 and expected to reach USD 6.8
Billion by 2027. With cannabis initially opening the doors
for alternative medicines, the Psilocybin and Psychedelic Markets
have garnered serious attention for the effects it has on mood,
cognition and reception. Recent studies conducted on the use of
psilocybin have shown the potential to relieve severe anxiety and
depression.
For further
information:
Publicly traded
company (OTC
PINK:
CEOS)
Website: www.psykeyworld.com
E-mail:info@psykeyworld.com
Follow us on Twitter: https://twitter.com/PsyKeyworld
Forward-Looking
Statements:
Safe Harbour Statement - In addition to
historical information, this press release may contain statements
that constitute forward-looking statements within the meaning of
the Securities Act of 1933 and the Securities Exchange Act of 1934,
as amended by the Private Securities Litigation Reform Act of 1995.
Forward-looking statements contained in this press release include
the intent, belief, or expectations of the Company and members of
its management team with respect to the Company's future business
operations and the assumptions upon which such statements are
based. Prospective investors are cautioned that any such
forward-looking statements are not guarantees of future
performance, and involve risks and uncertainties and that actual
results may differ materially from those contemplated by such
forward-looking statements. Factors that could cause these
differences include, but are not limited to, failure to complete
anticipated sales under negotiations, lack of revenue growth,
client discontinuances, failure to realize improvements in
performance, efficiency, and profitability, and adverse
developments with respect to litigation or increased litigation
costs, the operation or performance of the Company's business units
or the market price of its common stock. Additional factors that
could cause actual results to differ materially from those
contemplated within this press release can also be found on the
Company's website. The Company disclaims any responsibility to
update any forward-looking statements.
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