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.
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.
SOURCE: GrowBLOX Sciences, Inc.
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