VANCOUVER, British Columbia, Sept. 12, 2019 /PRNewswire/ -- Core One Labs Inc. (CSE: COOL), (OTCQX: LDSYD), (Frankfurt: LD6, WKN: A14XHT) ("COOL" or the "Company") announces that its subsidiary, Agrotech LLC, has concluded its first harvest of 1,600 pounds from its Sacramento farm and has begun processing the bio-mass.
Agrotech LLC harvested a small section of the two and one half acre farm in Sacramento. The harvest started in the beginning of August and yielded over 1,600 pounds of bio-mass which has been dried. Prior to beginning a process of classification into flower, trim and shake for both the production of CannaStrips™ and retail distribution and sales, the bio-mass will have to be tested by a third-party laboratory. The remainder of the farm's crop will provide additional harvests late into October.
The harvest of the farm has provided research data and further affirmation of the Company's ability to cultivate outdoors without the use of pesticides or fungicides. Operationally, this harvest is evidence that the Company no longer has to rely on third party cultivations and the additional risk and the significant margins they represent. The Company can produce high quality cannabis without contaminates at a much lower cost outdoors, thereby reducing the cost of goods across all product lines.
Core One Labs CEO, Brad Eckenweiler, stated, "This outdoor cultivation is one more accomplishment for the Company as we continue to build expertise and operational structure toward a vertically-integrated cannabis company from seed to the customer's door step."
The Company will be updating the market as to the progress on the farm as new information becomes available.
About Core One Labs Inc.
Core One Labs Inc. is a technology company that licenses its technology to a state-of-the-art production and packaging facility located in Southern California. The Company's technology produces infused strips (similar to breath strips) that are not only a safer, healthier option to other forms of delivery but also superior bioavailability of cannabis constituents. Some strips will also include supplemental co-active ingredients such as nutraceuticals, vitamins and peptides. The technology provides a new way to accurately meter the dosage and assure the purity of selected product. From start to finish, the production process, based on the Company's technology, tests for quality and composition of all the ingredients used in each and every strip which results in a delivery system that is safe, consistent and effective. In addition, through its efforts to develop a better CannaStrips™ product, the Company has developed considerable expertise in cannabis extraction and nursery activities. The operational expertise developed by the Company as a result of these efforts has created new market opportunities for the Company in white label sales.
About Agrotech LLC.
Agrotech LLC is an agricultural management company 50% owned by the Company and providing consulting and management services to licensed cannabis cultivators in California.
Core One Labs Inc.
CEO & Director
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Cautionary Disclaimer Statement:
The Canadian Securities Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this news release.
Information set forth in this news release contains forward-looking statements that are based on assumptions as of the date of this news release. These statements reflect management's current estimates, beliefs, intentions and expectations. They are not guarantees of future performance. The Company cautions that all forward looking statements are inherently uncertain and that actual performance may be affected by a number of material factors, many of which are beyond the Company's control. Such factors include, among other things: risks and uncertainties relating to the Company's limited operating history and the need to comply with environmental and governmental regulations. In addition, marijuana remains a Schedule I drug under the United States Controlled Substances Act of 1970. Although Congress has prohibited the US Justice Department from spending federal funds to interfere with the implementation of state medical marijuana laws, this prohibition must be renewed each year to remain in effect. Accordingly, actual and future events, conditions and results may differ materially from the estimates, beliefs, intentions and expectations expressed or implied in the forward looking information. Except as required under applicable securities legislation, The Company undertakes no obligation to publicly update or revise forward-looking information.
SOURCE Core One Labs Inc.