CoLabs has been advised by the Securities and Exchange Commission (“SEC”) that the filing expiration date of its pending Registration Statement on Form S-1 (the “S-1”) for CoLabs’ proposed initial public offering (“IPO”) is nearing. Therefore, as opposed to having the filing declared “abandoned” by the SEC, CoLabs will withdraw the filing before it expires.
Management considers this a prudent step given the fact that the time required for completing necessary updates will extend beyond the expiration date.
The circumstances that require that CoLabs take this necessary step are the completion of our bridge financing, preparation of our annual audited financial statements, and the requisite updating of the filing, for which additional time is needed.
CoLabs’ Management anticipates refiling an updated and timely S-1 and moving forward with its IPO as soon as these items are satisfied.
This company’s update may include forward-looking statements. Such statements involve a number of risks, uncertainties, and other factors which could cause the actual results to differ materially from any such forward-looking statements.
We assume no obligations to update any forward-looking statements.
On December 27, 2023, CoLabs held its annual Shareholder Meeting.
Key takeaways from this meeting include that the Board of Directors was expanded to 7 Directors. The two new member nominations included: the new Chairman of the Board, Brendan Sheil, and Griffin King, who is also the CEO.
Brendan Sheil was introduced to the Shareholders. Brendan has had extensive corporate experience in developing growth in companies where he has previously worked.
- Board Member and Partner Board Member and Partner Bar K, a company providing consumer food service while offering their pets, play facilities.
- President and Co-Founder Synergy Aesthetics Synergy Aesthetics, a specialty healthcare distributor supplying high-quality and innovative aesthetic products to physicians and patients across the United States.
- Board Member- Former CEO & President Board Member PogoTec, Inc., which seeks to transform the way consumers capture and share images and videos from their surroundings with PogoCam is an ultra-compact, wearable camera.
- Founder and Managing Partner Founder and Managing Partner Synergy Ophthalmic Solutions, LLC, a medical device, pharmaceutical and consulting firm for aesthetic products.
A shareholder vote was taken, and the nominated Directors were elected by majority vote.
Next, CEO Griffin King reported on the output of recent business strategy workshops. He reported that moving forward CoLabs direction is simple and clear. The company will focus on three key pillars for corporate growth:
2024 CORPORATE OBJECTIVES
CoLabs’ first strategic pillar is to accelerate revenue growth within our proven technology. CoLabs will focus on developing our already existing product line, KlenSkin Brand, into the “masstige and mass-market channels”.
The second strategic pillar is to pursue and secure partnerships and licensing agreements.
The last key strategic pillar will be to seek licensing partners in the Pharmaceutical space to apply our technology with the goal of improving delivery and efficacy of their existing and future products.
Griffin finished his presentation and ended the meeting with a brief review on the filing requirements and financial commitment required to complete the IPO process as well as the costs involved with this effort.
The company plans to continue to provide this series of news updates to our clients, customers, and shareholders, as the company advances its unique products and furthers the development and applications of CoLabs’ advanced technology.
For Immediate Release
CoLabs Int’l, Corp. proudly announces the appointment of Griffin King as the new CEO. CoLabs Int’l, Corp. is an early mid-stage biotech focused on the development of micro-encapsulate technology which streamlines the safety, delivery and effectiveness of healthcare and agricultural products while having a positive effect on the environment.
Huntington Beach, CA, USA – CoLabs Int’l, Corporation today announces the appointment of Griffin King as its new CEO. Mr. King has had over 15 years of high-level sales and domestic and international marketing experience in aesthetic pharmacology.
Mr. King brings broad aesthetic pharmaceutical experience to the position, having worked previously in senior Management positions globally for Galderma. His global multi-markets experience at Galderma involved successfully developing and expanding sales in numerous product lines. In his various management capacities, Mr. King helped establish strategic decisions relating to global commercial strategies, business services, management targets, sales training, and focused business events.
Mr. King’s focus will be to propel and strategically target CoLabs’ distribution and sales of its technologically advanced products and technology over multiple, global markets.
“We’re confident that Mr. King can guide this company into the future. I can think of no one better than Griffin to lead CoLabs”, said Laura Cohen, M.D., Chairperson of the Board.
Mr. King will assume responsibility of the company effective August 20, 2023.
About CoLabs Int’l, Corp.
CoLabs has developed highly charged microencapsulate technologies that minimize the absorption of chemicals into the body and uncontrolled dispersion of chemicals into the environment.