OAKLAND PARK, Fla., Nov. 16, 2015 /PRNewswire/ -- (OTC: BSEM), Biostem Technologies, Inc. is pleased to announce the purchase of its new research and development laboratory and headquarters. The building is located at 2836 Center Port Circle in Pompano Beach, FL. With frontage on I-95 and Copans Road, Center Port Business Park is strategically located nearly equidistant from Fort Lauderdale and Miami, to the south, and Boca Raton and West Palm Beach, to the north. The purchase price of Biostem's new laboratory and headquarters was $600,000 and projected build-out costs are estimated to be $700,000. The estimated grand opening for the completed facility is scheduled for March 1st, 2016.
The architectural design and permitting of our new 6,048 sq. ft. facility is well underway. The facility will house a "state of the art" Biosafety Level 2 (BSL-2) laboratory for testing our proprietary wellness and stem cell products as well as Biostem's Corporate Headquarters. The Center for Disease Control (CDC) describes biosafety levels ranging from BSL-1 to BSL-4. Each biosafety level builds on the controls of the level before it. Every microbiology laboratory, regardless of biosafety level, follows standard microbiological practices.
About Biostem Technologies, Inc. (BSEM):
Biostem Technologies (BSEM) is engaged in the advancement of regenerative medicine and antiaging strategies throughout the United States, Europe and Mexico. BSEM's goal is to deliver the highest standard wellness and stem cell products that are backed by science. Through scientific studies, we seek to become a world leader in the wellness arena. This will be accomplished by using high quality nutraceuticals and stem cells. Our state of the art laboratory is the first significant step in our quest to introduce the world and our shareholders to our dedication to you and your well-being.
Forward-Looking Statements: Except for statements of historical fact, the matters discussed in this press release are forward looking and made pursuant to the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995. "Forward-looking statements" describe future expectations, plans, results, or strategies and are generally preceded by words such as "future," "plan" or "planned," "expects," "believe" or "projected." These forward-looking statements reflect numerous assumptions and involve a variety of risks and uncertainties, many of which are beyond the company's control that may cause actual results to differ materially from stated expectations. These risk factors include, among others, limited operating history, difficulty in developing, exploiting and protecting proprietary technologies, intense competition and additional risks factors as discussed in reports filed by the company with OTC Markets.
SOURCE Biostem Technologies, Inc.