$CANL Opens Licensed Lab in CT

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Cannlabs Opens Licensed Laboratory in Connecticut; Company has 50% of Market Currently Contracted

Denver, CO / ACCESSWIRE / October 28, 2014 / CannLabs, Inc. (CANL), the leading provider of proprietary cloud based analytics, and scientific testing methodologies relating to cannabis, today announced the opening of CannLabs – Connecticut, Inc. (“CannLabs – CT”), an independent testing facility licensed in Connecticut to analyze medical cannabis. The facility located in Hartford, CT began conducting mandated testing to meet Connecticut’s rigorous product safety requirements last week and has secured multi-year testing contracts with 2 of the 4 growers currently licensed. Under an agreement with Carbon Bonds Holdings, a wholly owned subsidiary of CannLabs, Inc., the company provides administrative services and licenses proprietary software to CannLabs – CT.

The new facility is licensed by the Connecticut Department of Consumer Protection to analyze cannabis products from the four producers licensed by the state. Connecticut has some of the strictest quality control standards in the nation and adheres to both the American Herbal Pharmacopoeia(R) (AHP) and United States Pharmacopeia guidelines for permissible limits of contaminants. The guidelines include very low tolerance limits for specified bacteria, fungi, heavy metals and pesticides.

“With the opening of CannLabs – CT, the first CannLabs licensed Cannabis testing laboratory outside of Colorado, CannLabs enters a new growth phase, expanding into new markets. Connecticut is the perfect market for us to enter, it has a limited number of growers and one of the most stringent testing regimes in the country.” said Mark Mirken, Chief Executive Officer of CannLabs. “Having signed contracts with 50% of the market prior to entry, creates an immediate revenue stream, making Connecticut even more attractive.” said Mirken “When fully operational, the lab will be managed and staffed by employees from the local market, bringing training and jobs to Connecticut as well as providing an entry point into new and existing markets in the Northeast.” Mirken added.

CannLabs and its licensed laboratories are strong advocates for developing a Cannabis market that offers both quality assurance and safety for the consumer. Their commitment to advancing testing processes and methods is a commitment to the clients and the industry by ensuring any products tested, using CannLabs’ capabilities and technology, meet the requirements of mandated regulations as administered by the appropriate governmental bodies.

ABOUT CANNLABS

CannLabs, Inc., is a respected authority and advisor to commercial, governmental and educational entities focused on the Cannabis industry. The company leverages its propriety scientific, testing processes, cloud-based business intelligence and data/analytics as well as consulting services to garner revenues from legalized Cannabis states and their constituents.

Through Carbon Bond Holdings Inc. and the state certified labs it has relationships with, CannLabs delivers best practices around products, services and business intelligence focused on the Cannabis industry.

CannLabs customers include states that currently have legalized medical or recreational Cannabis along with their associated growers, dispensaries, manufacturers of edibles, and residential consumers seeking information on cannabis.

For more information visit www.cannlabs.com.

Safe Harbor Statement

All statements herein other than statements of historical facts are forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. These statements are based upon our current expectations and speak only as of the date hereof. Such statements are not guarantees of future performance and are subject to known and unknown risks and uncertainties that could cause our actual results to differ materially from those expressed or implied in such forward-looking statements. Such factors include, but are not limited to, our ability to raise additional capital, our limited operating history and revenue, our ability to attract and retain qualified personnel, our ability to develop new services, market acceptance of our services, legislative, regulatory and competitive developments in our industry, general economic conditions, as well as other factors set forth in our filings with the SEC.

CONTACT:

Company

William Livermore
Public Relations
917-620-0774
william.livermore@cannlabs.com
www.cannlabs.com

Investor Relations

Matthew Selinger
Senior Vice President – MZ North America
415-572-8152
mselinger@mzgroup.us
www.mzgroup.us

 

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