Wellbeing Digital Sciences Inc. - KONEF STOCK NEWS

Wellbeing Digital Sciences Inc. (OTC: KONEF) announced that its subsidiary KGK Sciences Inc. has applied for a Controlled Substance Dealers License from Health Canada. This approval will allow KGK to possess, import, sell, and study controlled substances like psilocybin and LSD at its London, Ontario facility, which is currently undergoing a level 5 security system buildout. Following an inspection, the license is expected to enhance KGK's capabilities in psychedelic medicine, aiding its mission to deliver innovative mental health treatments while fostering shareholder value.

Wellbeing Digital Sciences Inc. (OTC: KONEF) has provided an update regarding the management cease trade order (MCTO) issued by the British Columbia Securities Commission on January 31, 2023. This order is linked to the delay in filing the company's audited annual financial statements for the year ended October 31, 2022. The company anticipates completing these filings by March 31, 2023. No material changes since the initial announcement have been reported, and trading of its shares remains unaffected for the general public, although executives cannot trade until the MCTO is revoked.

Wellbeing Digital Sciences Inc. (OTC: KONEF) will have its CEO, Najla Guthrie, participate in the MarigoldLIVE International Women’s Day Networking Virtual Event on March 8, 2023. Guthrie will join the panel discussion titled 'The State of the Union of Psychedelics.' Wellbeing is focused on evidence-based mental healthcare, developing innovative solutions like psychedelic medicine and digital therapeutics supported by clinical research. For more details about attending the event or scheduling meetings with management, interested parties can contact Natalie Dolphin via email at ndolphin@wellbeingdigital.co.

Wellbeing Digital Sciences Inc. (OTC: KONEF) provided an update regarding a management cease trade order (MCTO) issued by the British Columbia Securities Commission (BCSC) on January 31, 2023. This order relates to the delayed filing of the company's audited annual financial statements for the year ending October 31, 2022. Wellbeing expects to finalize and file its Annual Filings by March 31, 2023, while continuing to issue bi-weekly status updates during the MCTO period. Importantly, there have been no material changes in the company’s circumstances, allowing trading of its shares to proceed for the general public, though executive trading is restricted until compliance is achieved.

Wellbeing Digital Sciences Inc. (OTC: KONEF) announced the completion of preclinical safety studies for paraxanthine (Px), a caffeine alternative, through its subsidiary KGK Science Inc.. A manuscript titled "Paraxanthine safety and comparison to caffeine" was published on February 2, 2023. The study indicates that Px may possess a safer profile than caffeine, with a larger No-Observed-Adverse-Effect-Level (NOAEL) reported. The findings aim to enhance consumer awareness about Px, which is sought as a healthier substitute in food and beverages. This development positions Wellbeing to potentially disrupt the caffeine market with an innovative approach.

Wellbeing Digital Sciences Inc. (KONEF, NMLSF) announces its subsidiary, KGK Sciences, has received a Section 56 exemption to proceed with a Phase IIA clinical trial evaluating microdose psilocybin therapy for fragile X syndrome (FXS). This trial aims to study cognitive and behavioral symptoms linked to FXS, a major genetic cause of autism spectrum disorder. The study is significant as it represents a pioneering approach in this area, supported by a No Objection Letter from Health Canada. With the production of cGMP synthetic psilocybin underway, the trial seeks to enhance understanding of psilocybin's therapeutic potential, with participant recruitment starting in early 2023.

Wellbeing Digital Sciences Inc. (OTC: KONEF) announces a delay in filing its annual financial statements due to a transition in accounting firms, requiring more time to complete the audit. The company was unable to finalize the Annual Filings by the January 30, 2023 deadline, leading to the issuance of a management cease trade order (MCTO) by the British Columbia Securities Commission. Wellbeing aims to file the required documents by March 31, 2023, and will issue bi-weekly status reports in compliance with National Policy 12-203 until the filings are complete. During the MCTO, general investors can still trade shares, while executives are restricted from trading.

Wellbeing Digital Sciences Inc. (NEO:MEDI, OTC:KONEF) will have its CEO, Najla Guthrie, participate in a webinar hosted by the Psychedelic Medicine Association on January 26 at 5 PM PST/8 PM EST. The panel discussion, titled “Increasing Access to Psychedelic Medicines and Therapies,” aims to address the growing interest in psychedelic medicine and its implementation in clinical settings. Interested participants can register here. Wellbeing Digital Sciences focuses on innovative mental health solutions and operates a network of clinics supporting clinical research.

Wellbeing Digital Sciences Inc. (OTC: KONEF) has appointed a new auditor, Mao & Ying LLP, effective January 13, 2023, after the resignation of Macias Gini & O’Connell LLP. The transition to the new auditor was at the company's request and occurred without any reservations or disagreements from the former auditor. The change aims to better align with the company’s future growth in a complex regulatory environment. The company focuses on innovative mental healthcare solutions, including psychedelic medicine and digital therapeutics, supported by clinical research and a network of North American clinics.