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VANCOUVER, British Columbia, June 11, 2026 (GLOBE NEWSWIRE) — Lophos Holdings Inc. (“Lophos” or the “Company“) (CSE: MESC), a Canadian bioscience company focused on regulated plant-based and controlled substance opportunities, today provides a corporate update regarding recent leadership and governance changes, the status of its Controlled Substances Dealer’s Licence (“CSDL“), the Company’s ongoing efforts to address the cease trade order affecting its securities, and its strategic priorities moving forward.
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Leadership and Board Changes
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Effective May 6, 2026, Joshua Herman was appointed Chief Executive Officer of the Company and joined the Board of Directors (the “Board“). Brad Cotton and Cory Harris were also appointed to the Board.
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The Company welcomes Mr. Herman, Mr. Cotton, and Mr. Harris and looks forward to their contributions as Lophos works towards advancing its restructuring efforts and evaluates opportunities to rebuild and expand its operations.
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The leadership changes form part of the Company’s broader restructuring efforts. Claire Stawnyczy, founder of Lophos, continues to serve on the Board and remains engaged in supporting the Company’s strategic development. Evan Stawnyczy has stepped down from the Board as part of the Company’s governance reorganization.
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The Board currently consists of Joshua Herman, Claire Stawnyczy, Jeremy Pestun, Brad Cotton, and Dr. Cory Harris.
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Reconstitution of Audit Committee
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Also, effective May 6, 2026, the Company reconstituted its Audit Committee. The Audit Committee now consists of Brad Cotton (Chair), Joshua Herman, and Dr. Cory Harris, with Mr. Cotton and Dr. Harris being independent directors within the meaning of National Instrument 52-110 – Audit Committees.
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Controlled Substances Dealer’s Licence
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As previously disclosed, the Company’s wholly owned subsidiary, Lophos Pharmaceuticals Corp., held a CSDL issued by Health Canada authorizing activities involving certain controlled substances, including MDMA, ketamine, LSD, DMT, mescaline, psilocin, and psilocybin.
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The licence was associated with the Company’s former 10,000-square-foot licensed facility located in Napanee, Ontario. Following the disposition of the facility in connection with previously disclosed mortgage enforcement proceedings, the Company no longer maintains possession of the licensed site. As the licence was site-specific, the CSDL ceased to be available following the loss of the facility.
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The Company does not currently hold a CSDL. Management is actively evaluating strategic alternatives that may support future controlled substance activities, including collaborations with existing licence holders, analytical laboratories, contract research organizations, and other qualified industry participants.
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Strategic Outlook
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