Expected to Open by End of Fourth Quarter; $10-12 Million Annual Revenue at Full Capacity at Just This Facility; Cutting-Edge Technological Growing of Medical Grade Cannabis
LAS VEGAS, NV / ACCESSWIRE / September 28, 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 the first of the planned four Cultivation Labs, a 30,000 square foot facility in Las Vegas, is scheduled to open in Las Vegas by the end of the fourth quarter. See below for recently taken pictures of both the exterior and interior of our Cultivation Lab as we share our updated progress with shareholders.
It's just the beginning.
Featuring cutting edge technology, the Las Vegas Cultivation Lab, the first of four Cultivation Labs, will occupy 30,000 square feet and will be comprised of fully contained clean room structures. These structures will be equipped with state of the art lighting, air handling, humidity control, CO2 management, irrigation, fertigation. All of these operations will be controlled by a centralized automated system and offer remote access controls. This level of precision environmental control and monitoring is essential for the collection of new data that will be invaluable for the still nascent medical cannabis industry.
Production: As the first of four laboratories and at full capacity, the 30,000 square foot facility will produce over 7,000 pounds of certified medical grade raw material annually. It will feature the precision of a laboratory and the size of a greenhouse.
Revenue: As only the first of four laboratories and at full capacity, the Las Vegas Cultivation Lab is projected to generate $10-$12 million in revenue per annum.
Chairman of the Board and CEO Craig Ellins, commented, "Our flagship laboratory, the Las Vegas Cultivation Lab, is only the first of four Cultivation Labs being built. As such, it is the standard bearer for the cutting-edge technological growing of medical grade cannabis, and is a timely address to the problem of inadequate supplies of medical grade cannabis. GrowBLOX Sciences continues to be a frontrunner in the medical cannabis industry -- and this is only the beginning of great things to come."
Interior of Cultivation Lab
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.
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.
GrowBLOX Sciences, Inc.,
6450 Cameron Street, Suite 110A, Las Vegas, NV 89118
Craig Ellins, CEO
Andrea Small Howard, Chief Science Officer
SOURCE: GrowBLOX Sciences, Inc.