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SOURCE GrowBLOX Sciences, Inc.
LAS VEGAS, July 18, 2014 /PRNewswire/ -- GrowBLOX Sciences, Inc. (OTCQB: GBLX) a medical marijuana research and development company, is applying for licenses to grow and dispense in Illinois. The timing couldn't be better for GB Sciences because Illinois State "lawmakers have set final rules to allow medical marijuana in Illinois, opening the door for patients to apply for ID cards this fall and to start purchasing legal cannabis by next spring" as was reported in the Chicago Tribune on Wednesday, July 16. The state intends to approve a total of 21 licenses for cultivation and 60 for dispensaries by September 2014.
CEO Craig Ellins explains, "Our familiarity with state legal processes and experience in filing for medical marijuana licenses in the state of Nevada, where we were granted a special use permit for a dispensary and cultivation facility, puts us at an advantage compared to the other local competitors filing for the same licenses in Illinois."
The Company believes their GrowBLOX™ technology is a perfect fit for the Illinois Medical Marijuana Market due to GB Sciences ability to meet or exceed the strict quality standards being imposed by the Illinois state legislature. To this end, "the Illinois Department of Agriculture is converting one of its labs into a testing center, where marijuana can be checked for potency, mold and pesticides so consumers know what they are getting," said Bob Morgan, coordinator of the state program as was also reported in the Chicago Tribune on Wednesday, July 16.
Illinois' medical marijuana market checks in at a purported 10,000 patients and will generate anywhere from $25 million to $45 million in cannabis sales, according to The Marijuana Business Factbook. The news of GB Sciences entrance into the Illinois market comes just days after The Company announced their entrance into the Florida Medical Marijuana Market through its subsidiary GB Sciences Florida, Inc.
About GB Sciences, Inc.
GrowBLOX Sciences, Inc., is a research and development company that has proprietary indoor growing chambers specifically designed for medical cannabis cultivation. The GrowBLOX™ chamber allows for completely controlled growing conditions, ensuring the manufacture of a consistent, toxin-free, natural and medicinal-grade product. The Company believes that the advantages of a controlled environment over traditional outdoor or greenhouse growing, will empower the public, nutraceutical and pharmaceutical industries to embrace cannabis as an effective treatment for a myriad of serious medical conditions. http://www.gbsciences.com
Except for historical information contained herein, the statements in this release are forward-looking and made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are inherently unreliable and actual results may differ materially. Examples of forward-looking statements in this news release include statements regarding the payment of dividends, marketing and distribution plans, development activities and anticipated operating results. Factors which could cause actual results to differ materially from these forward-looking statements include such factors as the Company's ability to accomplish its business initiatives, significant fluctuations in marketing expenses and ability to achieve and expand significant levels of revenues, or recognize net income, from the sale of its products and services, as well as the introduction of competing products, or management's ability to attract and maintain qualified personnel necessary for the development and commercialization of its planned products, and other information that may be detailed from time to time in the Company's filings with the United States Securities and Exchange Commission. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
Riverview Capital Enterprises
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