LAS VEGAS, June 15, 2015 (GLOBE NEWSWIRE) -- GrowBLOX Sciences, Inc. (OTCQB:GBLX), a biopharmaceutical company with state-of-the-art technologies in plant biology and cultivation designed to produce consistent medicinal cannabis, announced here today that it has received a $1.75 million funding commitment to enable GrowBLOX to complete construction and set-up operations at their MME Cultivation Facility in Las Vegas, Nevada. Pacific Leaf Ventures, LP has provided both the capital infusion and a license for their intellectual property including recognizable brand-names of cannabis and proprietary know-how for cultivation and cannabis extractions.
“This funding represents the final step in a series of prerequisites for the commencement of operations at our cannabis cultivation facility in Las Vegas,” said CEO Craig Ellins. He continued, “Our suite of technologies for tissue culture propagation of our proprietary strains, growing a safe and consistent MME product, and efficiently extracting the cannabis oils will all soon be on display at our state-of-the art facility. We are also pleased to announce that we have commenced construction of pre-fab “clean rooms” that we call Cultivation Labs and are targeting to complete construction of the new Cultivation Facility by mid-4th quarter in 2015. We believe that our Cultivation Labs will provide a pristine and consistent environment for growing and processing medical cannabis that will safeguard our proprietary technology and equipment, as well as our products. We also feel that our Cultivation Labs will ensure the security and integrity of the licenses from Pacific Leaf for its brand name cannabis strains and products that will be recognized by patients with reciprocal MME cards in adjacent states like California and Arizona. We believe that the experience of Pacific Leaf Ventures in cannabis cultivation and extraction makes our business relationship potentially far more valuable than any amount of capital invested.”
About GrowBLOX Sciences, Inc.
GrowBLOX Sciences, Inc. (OTCQB: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 GrowBLOXTM suite of cultivation and growing chambers. To learn more about GrowBLOX Sciences, Inc., go to www.gbsciences.com.
Forward-Looking Statements: 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 presently constituted.
GrowBLOX is a registered trademark of Growblox Sciences, Inc.