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Lightlake Therapeutics Inc. Chief Executive Officer Letter to Shareholders
Date:12/20/2013

lied to.  These opportunities most notably include Binge Eating Disorder, Bulimia Nervosa, and amphetamine and cocaine addiction.

Over the past year, there have been some major advancements throughout these markets.  On top of our compelling Phase II data we reported in August 2012, which demonstrated the efficacy and safety of intra-nasal naloxone for Binge Eating Disorder, the American Psychiatric Association (APA) officially added Binge Eating Disorder to the DSM-5 manual in May 2013. DSM-5 is used by clinicians and researchers to diagnose and classify mental disorders in order to improve diagnoses, treatment and research. This manual is the product of more than 10 years of effort by hundreds of international experts in all aspects of mental health.  This elevated status places an even greater importance on the clinical work we are doing as it is now an officially recognized disease state by the APA.  Over the past few months, we have continued our preparation work for our next anticipated study to be conducted in the U.S.

For Bulimia Nervosa, we expect to commence a Phase II in 2014 in partnership with King's College London.  It is important to note that because we are using an approved drug in a unique, specialized formulation, our clinical trials typically are much shorter and cost efficient than a regular biotech clinical trial.  This potentially allows us to receive regulatory approval in a faster manner and shortens our time to commercialization.

Operationally, we continue to be meticulous in managing our cash position and we are utilizing all of our resources as efficiently as possible.  Through meaningful partnerships, high level collaboration and diligent execution, we anticipate a very exciting year ahead.

In summary, 2013 was a year of great progress, which would not have been possible without the continued support of our loyal shareholders.  We look forward to continue making great s
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