Another Psychedelics Company Goes Public: Albert Labs To List On CSE, Appoints Chrystal Capital As UK Banker
Written by Javier Hasse,
Psychedelic-based medicines company Albert Labs is going public.
On Monday, management said it has received conditional approval for the listing of its common shares on the Canadian Securities Exchange (CSE). The stock is expected to start trading under the ticker “ABRT” in early 2022, following a reverse takeover (RTO) of ME Resource Corp.
“Conditional approval on the Canadian Securities Exchange represents a significant milestone for Albert Labs as we gear up to become a public company,” said Dr. Michael Raymont, CEO of Albert Labs. “Listing on the CSE will enable us to attract additional capital and enhance our market profile, which in turn will catalyze our growth toward becoming a worldwide leader and provider of accelerated access to psychotherapeutic medicines and therapies.”
In addition to the listing, Albert Labs confirmed the appointment of Chrystal Capital Partners LLP to act as its European Capital Markets advisor.
In this capacity, Chrystal Capital will advise Albert Labs on proposed plans to undertake a London Stock Exchange dual listing.
Kingsley Wilson, founding partner of Chrystal Capital Partners stressed his belief in the benefits of psychedelic medicines.
“We believe that psychedelic medicines will have a critical and profound effect for millions of people suffering and we have been patiently looking for the right company and team to back. To that end, we are delighted to have found such a business in Albert Labs as they look to grow into Europe,” Wilson said. “The Albert Labs’ team have a great passion and a refreshingly unique approach to the industry which we believe will bring urgently needed solutions to patients and simultaneously create significant shareholder value for our investors. Chrystal Capital will work closely with the Albert Labs’ management team to strategize beyond the concurrent CSE listing, assisting Albert Labs to execute on their fundraising goals and their plan to dual list in the UK”.