DENVER, CO--(Marketwired - Jun 18, 2014) - CannLabs, Inc. (OTCQB: SDSPD) announced today its entrance into the Connecticut market. The Company has signed exclusive three-year testing and analytics agreements with two of the four businesses licensed to grow medical marijuana and produce related products in the state.
On April 3, 2014 Connecticut announced the first six dispensary facilities that will be authorized by the state with the expectation that medical marijuana products would be available during the summer. Connecticut has reserved a total of ten (10) business licenses of which four (4) licenses have been awarded to grow medical marijuana and produce related products. The state is mandating all medical marijuana products be tested for potency, microbials, pesticides and other contaminants. Dispensaries can only provide medical marijuana products from licensed growers.
CannLabs will commence testing once the first products become available from the growers, expected in August 2014. The new lab will use the same high standard testing methodology and equipment used in Colorado. This laboratory will serve as a foundation for consulting, business intelligence and other solutions that customers of CannLabs need to ensure safe, compliant and consistent product is delivered to consumers.
"We are excited to solidify these long-term agreements and our entrance into the Connecticut market," stated Genifer Murray, Chief Executive Office of Cannlabs. "The growers will use CannLabs for all mandated testing of their medical marijuana products. We view this as a meaningful near and long-term opportunity and will grow with our customers as they scale their business to meet patient's needs across the state."
CannLabs, Inc., is a solutions provider with intellectual property, proprietary cloud-based analytics and scientific methods to serve the cannabis industry. Through Carbon Bond Holdings Inc., CannLabs provides laboratories with the necessary business intelligence technology and other solutions required to serve the cannabis industry, and these include the first state-licensed laboratory in Denver, Colorado.
CannLabs enables growers, dispensaries and edible makers to implement best practices while furthering product advancements. In addition, the CannLabs website allows consumers to easily locate certified tested products to meet their specific needs.
CannLabs has been at the forefront of educating the public, in addition to state and local governments as more states legalize marijuana for various uses. The Company provides client education around safe cultivation, identifying contamination problems, consulting on legal cases and the reformulation of cannabis products, throughout the U.S. and Canada.
The Company plans to license their solutions to new labs and other cannabis companies in states and provinces as legislation and testing mandates for legalization are approved. This will allow the Company to further scale its data analytics and consulting business across a broader geographic area. In addition, the CannLabs team will focus on research and development which will further drive value for their customers and provide incremental revenue opportunity.
For more information visit www.cannlabs.com.
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