GrowBLOX Sciences, Inc., (“GB Sciences”) (GBLX), announced today that its majority-controlled Nevada applicant, GB Sciences Nevada, LLC, has received Nevada State approval to proceed with its special use permit to establish and operate a medical marijuana cultivation facility in Clark County.
GB Sciences Nevada did not receive approval from the State of Nevada for two dispensaries for which it had received approvals from Clark County and The City of Las Vegas. This puts the Company in a position similar to others who received state approval, but were denied or not yet approved by one or both of the other jurisdictions. It is unclear when, how, or if the inconsistencies between the state, city and county approvals will ultimately be resolved. While it would have been beneficial to have received the state dispensary approvals at this time, it does not detract from GB Sciences’ primary mission.
“Although we do not mean to understate the immediate commercial value of the cultivation license we were granted, our primary focus in obtaining the license was to enable the clinical research efforts we have planned, and to continue our other research initiatives into plant genetics, curing techniques, and the development of strains that are effective for particular diseases,” said GB Sciences, Inc., CEO Craig Ellins. “Without the license that was granted today, we could not pursue our mission of providing safe, consistent medication for the literally thousands of patients who need it. As a biopharmaceutical company, GB Sciences will create value through developing, patenting and branding innovative treatments; especially in ‘orphan’ disease categories where the ill have few if any treatment options.”
GB Sciences’ Chief Science Officer Dr. Andrea Small-Howard believes that through its operations in Nevada, GB Sciences can focus on:
1) Creating safe, consistent medical-grade cannabis using its proprietary GrowBLOX(TM) technology suite at their Clark County cultivation facility
2) Providing a range of personalized cannabinoid therapies that address specific medical indications
3) Continuously improving the effectiveness of its cannabinoid therapy programs through its clinical trial app (GBLX-PRO)
“Each of these three GB Sciences initiatives will be essential for providing safe and effective cannabinoid therapies for our patients,” said Dr. Small-Howard. “This is a really good day for GB Sciences’ shareholders and a great day for the people and patients of the State of Nevada.”
GB Sciences approved cultivation facility for development in Nevada is:
GB Sciences Las Vegas Cultivation Facility
This 28,432-square-foot facility will contain 20,000 square feet of cultivation space to house GB Sciences’ proprietary technology system for growing medical-grade cannabis in the TissueBLOX(TM) (for immature plantlets), GrowBLOX(TM) (for mature plants), and CureBLOX(TM) (to ensure safe, efficacious drying). In addition, the facility will 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.
About GrowBLOX Sciences, Inc.
GB Sciences combines state-of-the-art technologies in plant biology, cultivation technology, and post-production processes to optimize safety and consistent quality in medicinal cannabis therapeutic products. 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: http://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.
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