LAS VEGAS, May 16, 2017 /PRNewswire/ -- GB Sciences, Inc. (OTCQB: GBLX) is pleased to announce that initial harvest at its Cultivation Lab facility in Las Vegas, Nevada. When fully operational, Cultivation Lab will house 7,200 cannabis plants under 600 grow lights within its 28,000ft., and is expected to generate approximately $10 million in annual revenue. The beginning of the Company's revenue stream is exciting! GB is one of only a handful of American public companies that actually produce cannabis, and is one of only two companies that are fully reporting, and therefore are fully transparent to investors. More importantly is the fact that GB has an innovative plan for the use of those revenues, and the substantial profits that they will create.
CEO John Poss said "I had the distinct honor and pleasure of personally making the first cuts from our first harvest last week. I was struck that in doing so I was not just cutting into a leaf or stem, but rather that I was cutting into the bias and blindness that has for so many years kept such an important palliative as cannabis away from the millions of patients who need it. We are the biopharma company of the future, because we are informed by science, but inspired by patients."
Since its inception, the prime directive of GB Sciences has been the creation of a quality controlled cannabis cultivation and extraction facility to provide the compounds for formulating medicines to treat a wide range of diseases. The Cultivation Lab was created to serve that specific need. But with the advent of the world's largest recreational market in Las Vegas beginning July 1, 2017, the Cultivation Lab will provide medical-grade cannabis to the burgeoning Las Vegas recreational market, while simultaneously supporting the company's all-important medical research and development efforts. The financial benefits of this unique synergy are self-evident.
Chief Science Officer Andrea Small-Howard said "It all starts with the plant… and we touch the plant. The advent of recreational cannabis in Nevada will enable us to geometrically increase our efforts in drug research and discovery. We have already devoted substantial resources to the development of important technologies, such as our proprietary tissue-propagation methods which stop genetic drift, preserving the unique identity of cultivated strains. With the addition of the recreational market income, we will now be able to increase experimentation with different strains, and collect important data relating to the efficacy of those strains."
About GB Sciences, Inc.
GB Sciences, Inc. (GBLX) is a diverse cannabis company, focused on standardized cultivation and production methods, as well as biopharmaceutical research and development. The Company's goal is creating safe, standardized, pharmaceutical-grade, cannabinoid therapies that target a variety of medical conditions. To learn more about GB Sciences, Inc., go to: http://gbsciences.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 they presently exist.
GB Sciences, Inc., 3550 West Teco Ave., Las Vegas, NV 89118
Liz Bianco Publicity Director, firstname.lastname@example.org, http://gbsciences.com
Investors: John Poss, email@example.com
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SOURCE GB Sciences, Inc.