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0 1574

GrowBLOX Sciences Appoints Former Nevada State Senator Sandra Tiffany as New General Manager

LAS VEGAS, NV / ACCESSWIRE / September 8, 2015 / GrowBLOX Sciences, Inc., (OTCQB: GBLX), a biopharmaceutical company with state-of-the-art technologies in plant biology and cultivation designed to produce consistent medicinal cannabis, announced today that former Nevada State Senator Sandra Tiffany has joined GBLX as General Manager of GB Sciences Nevada LLC.

Ms. Tiffany comes to GrowBLOX Sciences as a former Nevada State Senator. During her 14 years in the legislature, she held a number of leadership roles and authored key “game changing” legislation. She has been honored in her community and served on a number of boards and non-profit advisory boards. Ms. Tiffany was in office when Nevada voters approved the “Medical Marijuana Act.”

Ms. Tiffany’s entrepreneurial business experience is also remarkable. Before the age of 30, she established her first company, Computer Methods Inc., in which Ms. Tiffany developed and marketed a system for nuclear medicine image processing. She then parlayed that success by joining Intergraph, a computer-aided design and engineering Fortune 500 firm. During Ms. Tiffany’s 35 years of business experience, she created and managed her own companies that vary from an Internet Café to Government Affairs.

For the last eleven years, Ms. Tiffany has been involved in the payment processing area. Through this valuable banking-related experience, she has developed a large client list and built extensive relationships with local and national financial communities.

Craig Ellins, Chief Executive Officer of GrowBLOX Sciences, stated, “We expect former Senator Tiffany to play a key role as we move GrowBLOX Sciences from the developmental stage to one of commercial success. We believe that the important development of true medicine will be based on our advanced technology and superior products.”

Sandra Tiffany, General Manager of GrowBLOX Sciences, stated, “I am excited to join GrowBLOX Sciences, having long admired their commitment to the careful scientific study of the cannabis plant and by the opportunity to work with my longtime friend Craig Ellins.”

About GrowBLOX Sciences, Inc.

GrowBLOX Sciences, Inc. (GBLX) is a biopharmaceutical research and development company focused on creating safe, standardized, pharmaceutical-grade, cannabinoid therapies that target a variety of medical conditions. The Company has leading technology and cannabis industry processes, with a “big” data-driven clinical research and development loop to bring relief to patients in communities across the country. Through our GBS PR subsidiary, we are developing and globally distributing our GrowBLOX(TM) suite of cultivation and growing chambers. To learn more about GrowBLOX Sciences, Inc., go to: http://growblox.com.

Forward-Looking Statements

This press release may contain statements relating to future results or events, which are forward-looking statements. Words such as “expects”, “intends”, “plans”, “may”, “could”, “should”, “anticipates”, “likely”, “believes” and words of similar import may identify forward-looking statements. These statements are not historical facts, but instead represent only the Company’s belief regarding future events, many of which, by their nature, are inherently uncertain and outside of the Company’s control. It is possible that the Company’s actual results and financial condition may differ, possibly materially, from the anticipated results and financial condition indicated in these forward-looking statements. Further, information concerning the Company and its business, including factors that potentially could materially affect the Company’s business and financial and other results, are contained in the Company’s filings with the Securities and Exchange Commission, available at www.sec.gov. All forward-looking statements included in this press release are made only as of the date of this press release, and we do not undertake any obligation to publicly update or correct any forward-looking statements to reflect events or circumstances that subsequently occur or of which we hereafter become aware.

Note: Although the Company’s research and development activities are not illegal, the production and sale of cannabis products violate federal laws as presently constituted.

GrowBLOX is a registered trademark of GrowBLOX Sciences, Inc.

Contact Information

Corporate:

GrowBLOX Sciences, Inc.
6450 Cameron Street, Suite 110A
Las Vegas, NV 89118
866-721-0297

Craig Ellins, CEO
Andrea Small Howard, Chief Science Officer
craig@gbsciences.com
andrea@gbsciences.com

http://growblox.com

Investors:
Hayden IR
hart@haydenir.com
917-658-7878

SOURCE: GrowBLOX Sciences, Inc.

0 1015

Form 10-Q for GROWBLOX SCIENCES, INC.


17-Feb-2015

Quarterly Report

Management’s Discussion and Analysis December 31, 2014Item 2. Management’s Discussion and Analysis or Plan of Operations.

FORWARD-LOOKING STATEMENTS

This Quarterly Report on Form 10-Q of Growblox Sciences, Inc., a Delaware corporation (the “Company”), contains “forward-looking statements,” as defined in the United States Private Securities Litigation Reform Act of 10/995. In some cases, you can identify forward-looking statements by terminology such as “may”, “will”, “should”, “could”, “expects”, “plans”, “intends”, “anticipates:, believes”, “estimates”, “predicts” or “continue” , which list is not meant to be all-inclusive and other such negative terms and comparable technology. These forward-looking statements, include, without limitation, statements about our market opportunity, our strategies, competition, expected activities and expenditures as we pursue our business plan, and the adequacy of our available cash resources. Although we believe the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee future results, levels of activity, performance or achievements. Actual results may differ materially from the predictions discussed in these forward-looking statements. The economic environment within which we operate could materially affect our actual results. Additional factors that could materially affect these forward-looking statements and/or predictions include among other things:
(1)product demand, market and customer acceptance of Growblox Sciences products, equipment and other goods, (ii) ability to obtain financing to expand its operations, (iii) ability to attract qualified personnel, (iv)competition pricing and development difficulties, (v) general industry and market conditions and growth rates, unexpected natural disasters, and other factors, which we have little or no control: and other factors discussed in the Company’s filings with the Securities and Exchange Commission (“SEC”).

Overview

Growblox’s business pursuit is to be a pioneer and leader in the medical marijuana industry by combining state of the art cultivation and extraction techniques with biotechnology. The Company’s cultivation, curing and extraction technology provide for the production of consistent medical-grade cannabis and cannabinoid therapies. These cannabis strains and therapies will be developed and targeted to specific medical conditions, including pancreatic cancer, Parkinson’s disease, Alzheimer’s disease and epilepsy, as well as pain therapies. The Company has compiled a data base of the significant cannabinoid research being conducted around the world and is designing and implementing its own research and development which has, and will continue to be, peer reviewed. The Company believes that its suite of proprietary technology that includes tissue culture, cultivation, curing and extraction of cannabis and cannabinoids, combined with specific strain selection, will allow it to provide the highest quality, consistent and efficacious cannabinoid therapies to patients.

Our mission is to create a trusted brand of technology that empowers patients with access to the benefits of medicinal-grade cannabis, and to become the trusted producer of consistent and efficacious medicinal cannabis strains and product lines. Our focus is to bring to market, cutting-edge technologies to commercially cultivate and produce medical-grade cannabis and cannabis concentrates. We believe that these medical-grade products will provide patients with valuable medicines that make a real difference to their quality of life. Please note however that our beliefs in the medical viability of cannabis related products are contrary to the position taken by the United States federal government and its agencies that cannabis has no medical benefit.

Plan of Operations

The Company’s current and short term business plan involves research and development in the growing and processing of cannabis products for medicinal purposes and in obtaining state licenses for the

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GROWBLOX SCIENCES, INC AND SUBSIDIARIES
Management’s Discussion and Analysis
December 31, 2014
production and sale of cannabis products. These activities are not in violation of Federal Law. The Company’s long term business plan is to operate within the parameters of any state licenses obtained, which activities we believe will violate federal laws as presently constituted. If the Company is successful in obtaining state licenses and operating pursuant to those licenses and if federal law does not change, we believe the Company will be in violation of federal law which will likely have material adverse consequences to our business. Recent Developments

Nevada Licenses

On November 3, 2104, our majority owned subsidiary obtained a provisional license from Clark County, Nevada and the City of Las Vegas to grow and process cannabis products for medicinal purposes within such areas. Our license applications to distribute cannabis were denied. Accordingly, in Nevada the Company is currently completing the licensing process to cultivate cannabis. Distribution of the cultivated cannabis will have to be conducted be through retailers who have received cannabis distribution licenses. We intend to go forward with cultivation operations in Clark County utilizing our proprietary GrowBLOXTM technology, and will reapply for a separate license to establish dispensary operations. Although we believe that a dispensary license will ultimately be granted to the Company by Clark County and the City of Las Vegas, there can be no assurance that such efforts will be successful.

Cash Requirements

We estimate that we will require an additional $3,150,000 to fund our currently anticipated requirements for ongoing operations and build out of our grow facility and extraction operations for our existing business for the next twelve-month period.

Based upon our cash position, we will need to raise additional capital prior by the end of fiscal 2015 in order to fund current operations. These factors raise substantial doubt about our ability to continue as a going concern. We are pursuing several alternatives to address this situation, including the raising of additional funding through equity or debt financings. We are in discussions with our existing stockholders to provide additional funding in exchange for notes or equity. In order to finance existing operations and pay current liabilities over the next twelve months, we will need to raise $3,150,000 of capital. However, there can be no assurance that the requisite financing will be consummated in the necessary time frame or on terms acceptable to us. Should we be unable to raise sufficient funds, we may be required to curtail our operating plans or possibly cease operations. No assurance can be given that we will be able to operate profitably on a consistent basis, or at all, in the future.

 Results of Operations

FINANCIAL INFORMATION

                                            For the Three Months Ended          For the Nine Months Ended
                                                   December 31,                       December 31,
                                              2014              2013             2014               2013
Revenue                                    $         -       $         -     $           -       $         -
General and administrative                     677,737            12,801         3,953,095            56,271
Other income/(expense)                            (283 )        (170,247 )              51          (104,971 )
Net income/(loss)                          $  (621,622 )     $  (183,408 )   $  (3,953,044 )     $   (48,700 )

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GROWBLOX SCIENCES, INC AND SUBSIDIARIES
Management’s Discussion and Analysis
December 31, 2014
Comparison of the Three Months Ended December 31, 2014 and December 31, 2013 Revenue. Revenue was generated from a one-time non-refundable fee and licensing agreement for the sale of a prototype TBlox machine as designed by Growblox Sciences, Inc. The amortization of the licensing fees will begin in January 2015.

General and Administrative. General and administrative expenses increased by $677,737 in 2014 primarily due to an increase in wages, investor relations, compensation expense, professional and consulting fees relating to our licensing process, and the addition of employees.

Other Income/(Expense). Other income decrease by $169,717 in 2014 due to the change in the fair value of convertible notes and warrants that were settled.

Comparison of the Nine Months Ended December 31, 2014 and December 31, 2013

Revenue. Revenue was generated from a one-time non-refundable fee and licensing agreement for the sale of a prototype TBlox machine as designed by Growblox Sciences, Inc. The amortization of the licensing fees will begin in January 2015.

General and Administrative. General and administrative expenses increased by $3,953,044 in the nine months ended December 2014 due to an increase in stock compensation, investor relations, professional and consulting fees relating to our licensing process, and the addition of employees. Travel expenses have also increased due to the licensing process in multiple states.

Other Income/(Expense). Other income decrease by $104,949 in 2014 due to the change in the fair value of convertible notes and warrants that were settled.

Liquidity and Capital Resources
Cash was $282,143 as of December 31, 2014. Historically, our principal source of funds has been cash generated from financing activities.

Cash flow from operations. We have been unable to generate either significant liquidity or cash flow to fund our current operations. We anticipate that cash flows from operations will be insufficient to fund our business operations for the next twelve-month period.

Based upon our cash position, we will need to raise additional capital prior by the end of fiscal 2015 in order to fund current operations. These factors raise substantial doubt about our ability to continue as a going concern. We are pursuing several alternatives to address this situation, including the raising of additional funding through equity or debt financings. We are in discussions with our existing stockholders to provide additional funding in exchange for notes or equity. In order to finance existing operations and pay current liabilities over the next twelve months, we will need to raise $3,150,000 of capital. However, there can be no assurance that the requisite financing will be consummated in the necessary time frame or on terms acceptable to us. Should we be unable to raise sufficient funds, we may be required to curtail our operating plans or possibly cease operations. No assurance can be given that we will be able to operate profitably on a consistent basis, or at all, in the future.

Cash flows used in investing activities. There was $655,204 and $0 cash used in investing activities for the nine months ended December 31, 2014 and 2013.

Cash flows from financing activities. Net cash provided by financing activities was generated from the sale of equity that totaled $3,912,817 and $31,000 for the three months ended December 31, 2014 and 2013.

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GROWBLOX SCIENCES, INC AND SUBSIDIARIES
Management’s Discussion and Analysis
December 31, 2014
Variables and Trends

In the event we are able to obtain the necessary financing to move forward with our business plan, we expect our expenses to increase significantly as we grow our business. Accordingly, the comparison of the financial data for the periods presented may not be a meaningful indicator of our future performance and must be considered in light these circumstances.

Critical Accounting Policies

General

The preparation of financial statements requires management to utilize estimates and make judgments that affect the reported amounts of assets, liabilities, revenues and expenses and related disclosure of contingent assets and liabilities. These estimates are based on historical experience and on various other assumptions that management believes to be reasonable under the circumstances. The estimates are evaluated by management on an ongoing basis, and the results of these evaluations form a basis for making decisions about the carrying value of assets and liabilities that are not readily apparent from other sources. Although actual results may differ from these estimates under different assumptions or conditions, management believes that the estimates used in the preparation of our financial statements are reasonable. Policies involving the most significant judgments and estimates are summarized below.

Equity-Based Compensation

The computation of the expense associated with stock-based compensation requires the use of a valuation model. The FASB issued accounting guidance requires significant judgment and the use of estimates, particularly surrounding Black-Scholes assumptions such as stock price volatility, expected option lives, and expected option forfeiture rates, to value equity-based compensation. We currently use a Black-Scholes option pricing model to calculate the fair value of our stock options. We primarily use historical data to determine the assumptions to be used in the Black-Scholes model and have no reason to believe that future data is likely to differ materially from historical data. However, changes in the assumptions to reflect future stock price volatility and future stock award exercise experience could result in a change in the assumptions used to value awards in the future and may result in a material change to the fair value calculation of stock-based awards. This accounting guidance requires the recognition of the fair value of stock compensation in net income. Although every effort is made to ensure the accuracy of our estimates and assumptions, significant unanticipated changes in those estimates, interpretations and assumptions may result in recording stock option expense that may materially impact our financial statements for each respective reporting period.

Development Stage Company. The Company is considered to be in the development stage.

Cash and Cash Equivalents. The Company considers all short-term investments with an original maturity of three months or less when purchased to be cash equivalents.

Accounts Receivable. Accounts receivable are recorded at the time of sale and at the amount realizable from the transaction. An allowance for doubtful accounts is recorded for any amounts deemed uncollectible. The Company does not accrue interest receivable on past due accounts receivable. There was no allowance recorded at December 31, 2014 and March 31, 2014.

Property and Equipment and Depreciation. Property and equipment are stated at cost less accumulated depreciation. Depreciation is calculated using the straight-line method over the estimated useful lives of the assets: 3-8 years for machinery and equipment, 3-5 years for information technology and leasehold improvements are amortized over the shorter of the estimated useful lives or the underlying lease term. Repairs and maintenance expenditures which do not extend the useful lives of related assets are expensed as incurred.

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GROWBLOX SCIENCES, INC AND SUBSIDIARIES
Management’s Discussion and Analysis
December 31, 2014
Other Assets. Other assets include security deposits on our warehouses and potential retail locations in Las Vegas, Nevada.

Property and Equipment

Property and equipment are stated at cost less accumulated depreciation. Depreciation is calculated using the straight-line method over the estimated useful lives of the assets: 3-8 years for machinery and equipment, leasehold improvements are amortized over the shorter of the estimated useful lives or the underlying lease term. Repairs and maintenance expenditures which do not extend the useful lives of related assets are expensed as incurred.

Intangibles
Intangible assets with definite lives are amortized, but are tested for impairment annually and when an event occurs or circumstances change such that it is more likely than not that an impairment may exist. Our annual testing date is
March 31. We test intangibles for impairment by first comparing the carrying value of net assets to the fair value of the related operations. If the fair value is determined to be less than carrying value, a second step is performed to compute the amount of the impairment. In this process, a fair value for intangibles is estimated, based in part on the fair value of the operations, and is compared to its carrying value. The shortfall of the fair value below carrying value represents the amount of intangible impairment. We test these intangibles for impairment by comparing their carrying value to current projections of discounted cash flows attributable to the customer list. Any excess carrying value over the amount of discounted cash flows represents the amount of the impairment.

Commitments

We did not have any material capital commitments, other than funding our operating losses and repaying outstanding debt. It is anticipated that any capital commitments that may occur will be financed principally through borrowings from stockholders (although such additional financing has not been arranged). However, there can be no assurance that additional capital resources and financings will be available to us on a timely basis, or if available, on acceptable terms.

Off Balance Sheet Arrangements

We have no off-balance sheet arrangements that have or are reasonably likely to have a current or future effect on our financial condition, changes in financial condition, revenues or expenses, results of operations, liquidity, capital expenditures or capital resources that are material to investors.

1 1297

GrowBLOX Sciences Partners with Fuzhou Seechance Holding for Production of its Proprietary Growing Chambers

LAS VEGAS, NV / ACCESSWIRE / January 12, 2015 / GrowBLOX Sciences, Inc., “GB Sciences” (GBLX), is a biopharmaceutical research and development company with state-of-the-art technologies in plant biology, and cultivation which are designed to produce consistent medicinal cannabis signed a supply agreement for its proprietary growing chambers with a Chinese manufacturer Fuzhou Seechance Holding Co., LTD. (FSH). FSH is a leading manufacturer and exporter of electrical and lighting products. GBLX believes that FSH can supply 100% of the demand for the chambers, for the foreseeable future and beyond.

GrowBlox Sciences CEO Craig Ellins said, “We are proud to have established a well-regarded partner such as FSH. Most importantly, our faith in them was reciprocated by their faith in us, as evidenced by their willingness to take common equity instead of cash for the first payment due under the contract. I believe that FSH, like GBLX, sees a large market for the chambers that they will be supplying for years to come.”

Craig Ellins also said, “The contract, also provides for a two year parts warranty for all equipment that they manufacture, and further has agreed to open a U.S. service center stocked adequately with parts. We believe that this kind of assurance of reliability and support will substantially enhance our marketing efforts around the country.”

About GrowBLOX Sciences, Inc.

GrowBLOX Sciences, Inc. “GB Sciences” is a biopharmaceutical research and development company that merges state-of-the-art technologies in plant biology, cultivation technology and post-production processes in order to optimize our safe and consistent medicinal cannabis. The company is pioneering technology, industry-leading processes, and a big data-driven clinical research and development algorithm to bring relief to patients in communities across the country. To learn more about GB Sciences, Inc., go to www.gbsciences.com.

About Fuzhou Seechance Holding Co., LTD.

FSH is a leading manufacturer and exporter of electrical and lighting products, which was established in 1999, and for over a decade it has developed a particular specialty in lighting and related equipment for indoor growing systems. Working with GBLX scientists and engineers, FSH was able to provide the manufacturing and design resources for the chambers and each of its components, thus becoming a “one-stop shop” for the GBLX business. With a substantial manufacturing facility in Fujian province, having over 600 employees and more than 50 technical specialists.

Forward-Looking Statements

Except for historical information contained herein, the statements in this release are forward-looking and made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are inherently unreliable and actual results may differ materially. Examples of forward-looking statements in this news release include statements regarding the payment of dividends, marketing and distribution plans, development activities and anticipated operating results. Factors which could cause actual results to differ materially from these forward-looking statements include such factors as the Company’s ability to accomplish its business initiatives, significant fluctuations in marketing expenses and ability to achieve and expand significant levels of revenues, or recognize net income, from the sale of its products and services, as well as the introduction of competing products, or management’s ability to attract and maintain qualified personnel necessary for the development and commercialization of its planned products, and other information that may be detailed from time to time in the Company’s filings with the United States Securities and Exchange Commission. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

Contact:
Hayden IR
hart@haydenir.com
917-658-7878

SOURCE: GrowBLOX Sciences, Inc.

 

1 1788

GrowBLOX Sciences Executes Cannabis Supply Agreement with Provisionally Licensed Medical Cannabis Dispensary Facility

To Supply Medical Cannabis and Related Cannabis Products for Retail Sale; Retail Concessions for GB Sciences Nevada Brand-Name Products

Las Vegas, NV / ACCESSWIRE / January 7, 2015 / GrowBLOX Sciences, Inc., “GB Sciences” (GBLX), a company that merges state-of-the-art technologies in plant biology, cultivation technology and post-production processes in order to optimize safe and consistent medicinal cannabis via their proprietary technologies, is pleased to announce its GB Sciences Nevada has executed a cannabis supply agreement with LVMC, LLC of Clark County, Nevada. LVMC, LLC has committed to purchase not less than twenty percent of LVMC’s inventory requirements from GB Sciences. In addition they have granted interior space to their retail facility for GB Sciences Micro Apothecary.

GrowBlox Sciences CEO Craig Ellins said, “We are excited this group shares our vision for pre-packaged, quality tested, pesticide free and consistent high-value products. We are looking forward to partnering with an organization with the same mission dedicated to the betterment of our military veterans.”

GrowBlox Sciences CFO Cathryn Kennedy reiterated, “This agreement requires us to allocate a certain percentage of our production to be dedicated to LVMC. This is exciting because this will now enable us to expedite by six months our phase two build-out.”

About GrowBLOX Sciences, Inc.

GrowBLOX Sciences, Inc. “GB Sciences” is a biopharmaceutical research and development company that merges state-of-the-art technologies in plant biology, cultivation technology and post-production processes in order to optimize our safe and consistent medicinal cannabis. The company is pioneering technology, industry-leading processes, and a big data-driven clinical research and development algorithm to bring relief to patients in communities across the country.

To learn more about GB Sciences, Inc., go to www.gbsciences.com.

Forward-Looking Statements

Except for historical information contained herein, the statements in this release are forward-looking and made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are inherently unreliable and actual results may differ materially. Examples of forward-looking statements in this news release include statements regarding the payment of dividends, marketing and distribution plans, development activities and anticipated operating results. Factors which could cause actual results to differ materially from these forward-looking statements include such factors as the Company’s ability to accomplish its business initiatives, significant fluctuations in marketing expenses and ability to achieve and expand significant levels of revenues, or recognize net income, from the sale of its products and services, as well as the introduction of competing products, or management’s ability to attract and maintain qualified personnel necessary for the development and commercialization of its planned products, and other information that may be detailed from time to time in the Company’s filings with the United States Securities and Exchange Commission. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

Contact Information
Hayden IR
hart@haydenir.com
917-658-7878

SOURCE: GrowBLOX Sciences, Inc.

0 1357

GrowBLOX Sciences Provides Update on its Grow and Dispensary Efforts in Nevada

LAS VEGAS, NV / ACCESSWIRE / December 17, 2014 / GrowBLOX Sciences, Inc., “GB Sciences” (OTCQB:GBLX), a company that merges state-of-the-art technologies in plant biology, cultivation technology and post-production processes in order to optimize safe and consistent medicinal cannabis, is pleased to update its shareholders on its efforts to receive the necessary licenses to grow and dispense medical cannabis in Nevada.

We recently announced that we had received written notice from the Nevada Department of Health and Human Services approving the application of our subsidiary, GB Sciences Nevada LLC for a medical marijuana establishment (“MME”) cultivation facility, which is consistent with prior approvals the Company received from the City of Las Vegas and Clark County, Nevada. The Company is proceeding with architectural plans, business licensing and all the regulatory steps required to commence cultivation activities in the first half of 2015.

On Dec. 1, 2014, our subsidiary, GB Sciences Nevada LLC (“GBSN”), together with four other plaintiffs, filed a complaint against the State of Nevada, Department of Health and Human Services, Division of Public and Behavioral Health and several others. In addition, on December 5, 2014, GBSN filed an additional complaint against the State of Nevada, Division of Public and Behavioral Health of the Department of Health and Human Services; City of Las Vegas, Desert Aire Wellness llc; and Nuleaf ChV Dispensary, LLC.

Prior to filing these lawsuits, GBSN had submitted applications for MME dispensaries in Clark County and the City of Las Vegas. After a rigorous process, GBSN was approved and found suitable and qualified by both the County and the City. In the case of the City, the City Council voted 6-0-1 in favor of our application. We then submitted all approved applications to the State of Nevada.

Subsequent to Clark County and the City of Las Vegas approving GBSN and other applicants, several unsuccessful applicants nevertheless filed MME dispensary applications with the State of Nevada, without obtaining local approval. The State then issued provisional licenses to certain of these non-approved applicants, notwithstanding prior legislation, regulation and testimony that local approval, including use permits, are prerequisites for such applications to be deemed complete and suitable for ranking and licensure. In the absence of such local approvals, we believe that these applications should have been deemed incomplete and disqualified. We also believe that there is legal precedent for our views.

Accordingly, it is the Company’s position that the State acted improperly in issuing many of the provisional license notifications, and had it adhered to the legislation, the legislative intent and existing State and local regulations, GBSN would have received provisional State licenses for its applications in Clark County and the City of Las Vegas, as we ranked within the top 18 applicants in Clark County and top 12 applicants in the City of Las Vegas.

Although there can be no assurance that we will be successful in this litigation, we have been advised by counsel we have a strong case and should prevail on the merits.

We will keep our shareholders advised as to the outcome of this matter.

About GrowBLOX Sciences, Inc.

GrowBLOX Sciences, Inc. “GB Sciences” is a biopharmaceutical research and development company that merges state-of-the-art technologies in plant biology, cultivation technology and post-production processes in order to optimize our safe and consistent medicinal cannabis. The company is pioneering technology, industry-leading processes, and a big data-driven clinical research and development algorithm to bring relief to patients in communities across the country.

To learn more about GB Sciences, Inc., go to www.gbsciences.com.

Forward-Looking Statements

Except for historical information contained herein, the statements in this release are forward-looking and made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are inherently unreliable and actual results may differ materially. Examples of forward-looking statements in this news release include statements regarding the payment of dividends, marketing and distribution plans, development activities and anticipated operating results. Factors which could cause actual results to differ materially from these forward-looking statements include such factors as the Company’s ability to accomplish its business initiatives, significant fluctuations in marketing expenses and ability to achieve and expand significant levels of revenues, or recognize net income, from the sale of its products and services, as well as the introduction of competing products, or management’s ability to attract and maintain qualified personnel necessary for the development and commercialization of its planned products, and other information that may be detailed from time to time in the Company’s filings with the United States Securities and Exchange Commission. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

Contact Information

Hayden IR
hart@haydenir.com
917-658-7878


SOURCE:
GrowBLOX Sciences, Inc.

 

0 1406

GrowBLOX Sciences Provides Update on its Cultivation Plans in Las Vegas

Recently Received Nevada State Approval Targets a 1st Half 2015 Start-Up Date for Commercialization

Las Vegas, NV / ACCESSWIRE / December 16, 2014 / GrowBLOX Sciences, Inc., “GB Sciences” (OTCQB:GBLX), a company that merges state-of-the-art technologies in plant biology, cultivation technology and post-production processes in order to optimize safe and consistent medicinal cannabis, is pleased to provide an update today on its recent Nevada State approval for cultivation of cannabis-based therapies in Las Vegas.

GB Sciences majority-controlled Nevada applicant, GB Sciences Nevada, LLC “GBSN”, received Nevada State approval to proceed with its special use permit to establish and operate a medical marijuana cultivation facility in Clark County. In addition to the commercial value of the cultivation license granted, the Company will focus on clinical research efforts and continue other research initiatives into plant genetics, curing techniques, and the development of strains that are effective for particular diseases.

“We are honored and thrilled to have received this Nevada State approval and very much look forward to playing a major part in the rollout of medical marijuana in Las Vegas,” said Cathryn Kennedy, CFO of GrowBLOX Sciences, Inc. “Our company is at a major inflection point as we commercialize our proprietary technologies and look forward to generating revenues in 2015.”

GBSN is in the process of completing the last steps for full licensure, which will require business license approval. Given that Clark County has found GB Sciences, GBSN and the location suitable, GB Sciences is confident that these approvals will be received in a timely manner.

GBSN is thus proceeding with a multi-million dollar build out of the cultivation facility, which is on budget and ahead of schedule. GBSN hired the architects and construction company mid-2014. GB Sciences is finalizing the molds for its GrowBLOX and plans on ordering the equipment in March 2015.

The facility consists of an existing one-story building encompassing 28,432 square feet, which can accommodate a second level to further expand capacity. The facility is designed to be a state of the art growth facility built to “food grade” standards. Additionally, there is at least one acre of open land, which can also be used for cultivation as demand may require. Architectural work is nearly completed, and adequate power, often a cause of delay for Las Vegas construction projects, has already been addressed.

The cultivation facility will be located at 3550 W. Teco Ave in Las Vegas. The planned 28,432-square-foot facility will contain 20,000 square feet of cultivation space and will house GB Sciences’ proprietary technology system for growing medical-grade cannabis in the TissueBLOX (for immature plantlets), GrowBLOX (for mature plants), and CureBLOX (to ensure safe, efficacious drying). The facility will also feature a 2,500-square-foot conversion lab for extracting and post-processing oil-based cannabinoid therapies, a security control room, a packaging room, employee facilities, and management offices.

Management believes that the facility will be completed in early 2015 and will commence growing operations shortly thereafter. Assuming no further construction on the site the present building can house over 200 of our proprietary GrowBlox chambers, capable of producing approximately 5,000 pounds of product per year.

About GrowBLOX Sciences, Inc.

GrowBLOX Sciences, Inc. “GB Sciences” is a biopharmaceutical research and development company that merges state-of-the-art technologies in plant biology, cultivation technology and post-production processes in order to optimize our safe and consistent medicinal cannabis. The company is pioneering technology, industry-leading processes, and a big data-driven clinical research and development algorithm to bring relief to patients in communities across the country.

To learn more about GB Sciences, Inc., go to www.gbsciences.com.

Forward-Looking Statements

Except for historical information contained herein, the statements in this release are forward-looking and made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are inherently unreliable and actual results may differ materially. Examples of forward-looking statements in this news release include statements regarding the payment of dividends, marketing and distribution plans, development activities and anticipated operating results. Factors which could cause actual results to differ materially from these forward-looking statements include such factors as the Company’s ability to accomplish its business initiatives, significant fluctuations in marketing expenses and ability to achieve and expand significant levels of revenues, or recognize net income, from the sale of its products and services, as well as the introduction of competing products, or management’s ability to attract and maintain qualified personnel necessary for the development and commercialization of its planned products, and other information that may be detailed from time to time in the Company’s filings with the United States Securities and Exchange Commission. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

Contact Information

Hayden IR
hart@haydenir.com
917-658-7878

SOURCE: GrowBLOX Sciences, Inc.

 

0 1211

Form 8-K for GROWBLOX SCIENCES, INC.

16-Dec-2014

Change in Directors or Principal Officers

ITEM 5.02 Resignation of Director and Officer; Appointment of Officer.Effective December 9, 2014, Cathryn J. Kennedy joined the Registrant (hereinafter the “Company”) as its new Chief Financial Officer.

From 2013 to the present Ms. Kennedy served as controller and secretary to the board of directors of American Optical Services. American Optical Services owns and operates ophthalmology and optometry practices across the U.S. As controller, she managed P&L, cash flow, implemented audit policies and managed financial reporting and tax return preparation with a national firm. She managed a department of twenty five employees including personnel in the accounting and treasury departments.

From 2008 through 2013, Ms. Kennedy worked for eCommLink, Inc. eCommLink, Inc. is a prepaid card processor which supports a full array of global and domestic payments and transactions, which was sold via asset sale to Green Dot. From 2011 to 2013 she served as CFO, from 2010 to 2011 she served as Vice President of Finance and as controller from 2008 to 2010.

From 2005 to 2008, Ms. Kennedy served as director of SEC reporting for Pinnacle Entertainment Inc., an entertainment company with 15 hotel and gaming operations located in the U.S.

Prior to 2005, she served as controller for American Wagering Inc. overseeing all corporate reporting, consolidations, financial preparations, preparation of SEC reports on forms 10QSB and 10KSB, and preparation of NGC tax filings, and oversaw gaming audits and compliance.

- 2 -


ITEM 9.01 Exhibits.

Attached as Exhibit 99 is a copy of the press release announcing the appointment of Cathryn J. Kennedy as the new CFO of the Company

 

0 1537

GrowBLOX Sciences Appoints Cathryn Kennedy as CFO

LAS VEGAS, Dec. 9, 2014 (GLOBE NEWSWIRE) — GrowBLOX Sciences, Inc. (GBLX), a company that focuses on plant biology and cultivation technology in order to optimize safe and consistent medical cannabis, today announced the appointment of Cathryn Kennedy as its Chief Financial Officer, effective immediately.

“We are excited to have Ms. Kennedy join our team as Chief Financial Officer,” said GrowBLOX Sciences Inc. CEO Craig Ellins. “With experience in a number of different financial roles at firms ranging from start-ups to public companies, she will be invaluable in supporting our growth as we work to bring relief to patients in communities across the country through medical marijuana.”

Prior to joining GrowBLOX Sciences, Ms. Kennedy served in a number of financial roles, including as CFO of eCommLink Inc. and as Director of SEC Reporting at Pinnacle Entertainment Inc. between 2005 and 2008. She was integral in establishing corporate governance policies, managing complex transaction processing, and handling M&A in these previous roles.

“I am excited to join the team at GrowBLOX Sciences,” said Ms. Kennedy. “We are just starting to scratch the surface of cannabis-based therapies’ potential to treat historically difficult diseases and conditions and I look forward to operating at the forefront of the industry alongside CEO Craig Ellins, CSO Andrea Small-Howard, and other members of the executive team to unlock this potential.”

About GrowBLOX Sciences, Inc.

GrowBLOX Sciences, Inc., “GB Sciences” (GBLX)—is a biopharmaceutical research and development company focused on creating safe, standardized pharmaceutical-grade cannabis-based therapies that target a variety of medical conditions. The company is pioneering technology, industry-leading processes, and big data-driven clinical research and development loop ability to bring relief to patients in communities across the country.

To learn more about GB Sciences, Inc., go to www.gbsciences.com.

Forward-Looking Statements

Except for historical information contained herein, the statements in this release are forward-looking and made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are inherently unreliable and actual results may differ materially. Examples of forward-looking statements in this news release include statements regarding the payment of dividends, marketing and distribution plans, development activities and anticipated operating results. Factors which could cause actual results to differ materially from these forward-looking statements include such factors as the Company’s ability to accomplish its business initiatives, significant fluctuations in marketing expenses and ability to achieve and expand significant levels of revenues, or recognize net income, from the sale of its products and services, as well as the introduction of competing products, or management’s ability to attract and maintain qualified personnel necessary for the development and commercialization of its planned products, and other information that may be detailed from time to time in the Company’s filings with the United States Securities and Exchange Commission. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

Contact:
Media and Investor Relations Contact:
Stephen Hart
Hayden IR
hart@haydenir.com
917-658-7878

0 1538

Form 8-K for GROWBLOX SCIENCES, INC.

21-Nov-2014

Change in Directors or Principal Officers

ITEM 5.02 Resignation of Director and Officer.Effective November 21, 2014, Steven Weldon resigned his positions as Chief Financial Officer and Board member of the Company to accept a new career opportunity. The Registrant will be appointing a new Chief Financial Officer in the near future.

 

2 1917

GB Sciences and NRC Research Institute Apply Crowdsourcing and Big Data Analytics to the Discovery and Validation of Cannabis-Based Therapies

LAS VEGAS, Nov. 10, 2014 (GLOBE NEWSWIRE) — GrowBLOX Sciences, Inc., “GB Sciences” (GBLX), a company that merges state-of-the-art technologies in plant biology, cultivation technology and post-production processes in order to optimize safe and consistent medicinal cannabis, and NRC Research Institute (“NRC”) announce the joint development of a crowdsourcing application to discover cannabis-based therapeutic combinations that are effective in the treatment of serious disorders. The app uses real-time patient feedback, impairment testing, and biometric measurements to assess the efficacy of therapeutic products made with prescreened cannabis strains.

“Patients need help in finding the correct strain of Cannabis to treat their medical conditions,” said Andrea L. Small-Howard, PhD, MBA, Chief Science Officer of GB Sciences. “Because GB Sciences has a suite of proprietary GrowBLOXTM technologies designed to produce consistent, medical-grade cannabis products with known cannabinoid-terpene profiles, we will soon be able to correlate patient symptoms and pathology with the right ‘cocktails’ of active ingredients for the first time. Any trial that has tested cannabis-based products without controlling the levels of active ingredients in the plant strains cannot accurately gauge their medicinal value. Once cannabis cocktail mixtures are validated as effective, they will become the source of our novel cannabinoid therapies. The app is our Drug Discovery Engine.”

The research firms anticipate thousands of patients will download and use their free electronic Patient Reported Outcomes (GBLX-PRO) app to report and track their experience with different pre-screened strains of medicinal cannabis that are provisionally assigned to seven different treatment categories. In addition, the anonymously collected patient data will contribute to cannabis research and enable GB Sciences to demonstrate which of its pre-screened strains are effective in treating medical conditions such as Parkinson’s disease, epilepsy, anxiety, insomnia, pain and metabolic disorders. The GBLX-PRO app will aid in creating personalized treatments for patients with unmet clinical needs.

“This exciting strategic partnership with GB Sciences provides for the successful development of their product pipeline and will help innovate measurements for high-priority therapeutic indications in the cannabis drug development process,” said Tony Ortiz, Ph.D., CEO of NRC Research Institute.

Collection and analysis of the two sets of data—cannabis strain potency and patient response to therapy—will enable GB Sciences to monitor and validate dosage levels and their effectiveness in treating specific medical conditions. The GBLX-PRO app will allow for three levels of participation: 1) self-reporting of clinical results using validated surveys; 2) participation in objective impairment testing; and 3) the collection of biometric data voluntarily submitted by participating patients via smartphone accessories. The GBLX-PRO app collects and combines rich objective and subjective patient feedback with lot-specific growth data that GB Sciences collects from its cannabis-growing operations.

“Crowdsourcing efficacy data is now possible because 23 states and Washington, D.C. allow patients to use cannabis,” said Craig Ellins, CEO of GrowBLOX Sciences. “When collected and properly analyzed in our big data program, the patient information will provide a roadmap pointing which direction we need to head to treat specific illnesses. For the first time, we are going to have the ability to validate our strains for specific disorders.”

To learn more about GB Sciences, Inc., go to www.gbsciences.com.

About GrowBLOX Sciences, Inc.

GB Sciences is a biopharmaceutical research and development company that merges state-of-the-art technologies in plant biology, cultivation technology and post-production processes in order to optimize our safe and consistent medicinal cannabis. The company is pioneering technology, industry-leading processes, and a big data-driven clinical research and development algorithm to bring relief to patients in communities across the country.

About NRC Research Institute

NRC Research is a Clinical Research and Development company with a focus on Contract Research Organization services to the pharmaceuticals and biotechnology companies. NRC Research Institute has worked with numerous globally recognized pharmaceutical and biotechnology companies on the development of experimental medications for FDA approval and other clinical development services.

Forward-Looking Statements

Except for historical information contained herein, the statements in this release are forward-looking and made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are inherently unreliable and actual results may differ materially. Examples of forward-looking statements in this news release include statements regarding the payment of dividends, marketing and distribution plans, development activities and anticipated operating results. Factors which could cause actual results to differ materially from these forward-looking statements include such factors as the Company’s ability to accomplish its business initiatives, significant fluctuations in marketing expenses and ability to achieve and expand significant levels of revenues, or recognize net income, from the sale of its products and services, as well as the introduction of competing products, or management’s ability to attract and maintain qualified personnel necessary for the development and commercialization of its planned products, and other information that may be detailed from time to time in the Company’s filings with the United States Securities and Exchange Commission. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

Contact:
Media and Investor Relations Contact:
Stephen Hart
Hayden IR
hart@haydenir.com
917-658-7878

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