LAS VEGAS, Jan. 4, 2016 /PRNewswire/ -- GrowBLOX Sciences, Inc., (OTCQB: GBLX),
These are truly exciting times for our Company. The cannabis industry is in its formative stages, with 23 states having approved Medical Marijuana, and public opinion largely in favor of its approval in many of the remaining states. Support for approval of recreational marijuana is steadily building in many states, including our center of gravity, Nevada. This is the beginning of an economic boom for our industry and we are extremely well-positioned to realize the benefits of this boom.
We have made much progress in many areas this year.
- We started the year with partial ownership of one cultivation license and partial ownership of two dispensary licenses. We ended the year with 100% ownership of three cultivation licenses; 70% ownership of one cultivation license, 100% ownership of one production license and partial ownership of two dispensaries (including a guarantee of 20% of the best shelf space for our products).
- We started the year with prototypes of our GrowBlox Technology Suite. Under the leadership of Cesar Cordero-Kruger, CEO of our Puerto Rican subsidiary, we now have fully engineered and approved production models as well as a high quality manufacturer to produce our Suite in commercial volume. We will release this product for customers sometime in mid-2016.
- Our Chief Science Officer, Dr. Andrea Small-Howard, and Dr. Helen Turner, a member of our Scientific Advisory Board and Dean of Natural Sciences at Chaminade University, have made much progress in perfecting our pharmaceutical compounds. We will file patents on the compounds in 2016. We also filed for patents in 2015 on our GrowBlox Technology Suite.
- Sr. Vice President Lucas Marin has led the construction of our Teco facility, which will commence operations in the second quarter of 2016. Teco will be the first commercial cannabis cultivation facility to use 100% sterile genetically propagated tissue. This tissue propagation technology was developed by our Chief Botanist and Water Quality Specialist, Dr. Ulrich Reimann-Philipp.
- We also have strengthened our management team. John Poss, who joined us as Chief Financial Officer in August, was recently named President and Chief Operating Officer in December. He will continue to serve as CFO until a suitable new CFO can be recruited. Former State Senator Sandra Tiffany joined us in August as General Manager of our Nevada operations. Sandra is an experienced executive who was instrumental in drafting the Nevada cannabis legislation and regulations.
2015 has been the year that we invested capital in asset acquisition and intellectual property. We believe 2016 will be the year that we generate significant revenue. We have cultivation, production, and dispensary licenses, patents pending on cutting edge growing techniques and technology, and an enormous premium growing facility; all based in the entertainment capital of the country - Las Vegas. More importantly, we have recruited a team of top notch professionals that can lead our company in a rapidly growing and extremely profitable industry. Currently, we are actively seeking new investors and partners to support our growth and exploitation of our many opportunities. We thank our shareholders for their support, and we believe that 2016 will be an exciting and prosperous year for all of us.
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 ™ 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 they presently exist.
GrowBLOX is a registered trademark of GrowBLOX Sciences, Inc.
GrowBLOX Sciences, Inc.,
6450 Cameron Street, Suite 110A, Las Vegas, NV 89118
Liz Bianco Publicity Director
SOURCE GrowBLOX Sciences, Inc.