The first six proprietary strains are being cultivated by The Colorado Hemp Project and will serve as the basis for fresh
revenue streams from both retail sales and raw ingredients for cannabis-based medical formulations.
LAS VEGAS, July 16, 2018 /PRNewswire/ -- GB Sciences, Inc.
(OTCQB: GBLX) updates the progress in their efforts to identify, cultivate and extract full spectrum hemp oil from proprietary
hemp strains that contain desirable ratios of CBD, cannabinoids and terpenes to provide the necessary compounds to support both
the Company's medical Intellectual Properties portfolio and open a fresh revenue stream in the rapidly growing retail hemp
market.
The search for a full spectrum hemp oil product that matched the quality and consistency of their cannabis genetics led GB
Sciences to The Colorado Hemp Project. CHP is a developer of best-in-breed genetics and recognized worldwide as a leader in the
cultivation of hemp with the first legal hemp harvest in the United States.
The revenue picture for production of hemp CBD is multi-threaded and bright. Current market prices put hemp flower yields at
approximately 1000lbs. per acre with a retail value of between $100- $500 per lb. But GB will manufacture full spectrum oil and CBD Isolate from their grows yielding $30K - $50K and $32K - $64K in revenue per acre respectively. The initial CHP test grow is thirteen acres of prime Colorado growing environments to supply the base proprietary strains that will serve as mother plants for
larger scale cultivation in multiple locations.
CBD is a primary ingredient in most of the patented disease specific medical formulations in GB's patent portfolio. GB
Sciences has already created a system of micro-propagation genetics and precision controlled growing environments to yield
cannabis raw ingredients that are consistent, trusted and pure. Although CBD is found in the cannabis plant, it does not
appear in sufficient volume to yield enough oil to produce medical formulations at scale, so the CHP proprietary hemp genetics
are being bred to contain high levels of CBD along with the specific cannabinoids and terpenes needed to produce disease-specific
medical formulations while also supplying those same valuable properties for unique retail CBD based products. CBD from hemp can
be shipped across State lines because it does not contain the psychoactive properties of the cannabis plant, broadening the
distribution possibilities for a true National retail line of hemp CBD oil products.
GB Sciences' CEO&Chairman of the Board, John Poss, states: "Having access to CHP's best
of breed proprietary hemp genetics has supplied a critical missing element to the full development of our medical IP portfolio
and to our growing line of retail products. CHP is a unique organization, and we are more than pleased that we share a common
vision. It is the kind of validation necessary to keep moving forward toward our stated goal... to put efficacious,
cannabis-based medicines in the hands of patients whether they are recreational or medical users."
About GB Sciences, Inc.
GB Sciences, Inc. (OTCQB: 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.
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 they presently exist.
Contact Information
Corporate:
GB Sciences, Inc., 3550 West Teco Ave., Las Vegas, NV 89118
866-721-0297, or
Tom Arcuragi, EVP, tom@gbsciences.com
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SOURCE GB Sciences, Inc.