GrowBLOX Sciences Plans to Open MMJ Lab in Q4
September 28th, 2015
GrowBLOX Sciences Inc. ( ), a biopharmaceutical company with state-of-the-art technologies in plant biology and cultivation designed to produce consistent medical cannabis, recently announced that the first of four planned cultivation labs is scheduled to open by the end of the fourth quarter this year. The 30,000 square foot facility will be located in Las Vegas, Nevada to serve the burgeoning new medical marijuana market.
“Our flagship laboratory, the Las Vegas Cultivation Lab, is only the first of four Cultivation Labs being built,” said GrowBLOX Science Chairman and CEO Craig Ellins in a recent press release. “As such, it is the standard bearer for the cutting-edge technological growing of medical grade cannabis, and is a timely address to the problem of inadequate supplies of medical grade cannabis. GrowBLOX Sciences continues to be a frontrunner in the medical cannabis industry — and this is only the beginning of great things to come.”
The flagship lab will be equipped with state of the art lighting, air handling, humidity control, CO2 management, irrigation, and fertilization technologies. With a centralized automated system capable of full remote access, the facility will collect new data that could prove highly valuable for the still nascent medical cannabis industry.
Management anticipates that the first laboratory will generate $10 million to $12 million in annual revenue, which is significant given the public company’s modest $15.8 million market capitalization, according to OTC Markets.
Shares of GrowBLOX Sciences rose more than 11.5% on the news and are trading 8.3% higher so far this year.
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