GB Sciences Inc (GBLX)

[fast.money]

$GBLX has established Growblox Sciences Puerto Rico, LLC ("GBS PR"), a majority-owned subsidiary domiciled in Puerto Rico.

Stated Growblox Sciences' CEO & Chairman Craig Ellins

As widely reported, Puerto Rico Governor Alejandro Garcia Padilla recently signed an executive order authorizing the production of medical cannabis. We are very excited by the timing of this announcement as it coincides with our continuing presence in Puerto Rico and our commitment to realizing significant fundamental growth this fiscal year.

Under the commercialization agreement, GB Sciences Puerto Rico, LLC has been granted the exclusive world-wide rights to produce, lease and license the GrowBLOXTM technology suite, as well as the potential for other multiple revenue streams, including the financing of GrowBLOXTM technology suite units; fees for training and maintenance services, and diagnostic monitoring services during cultivation. Additionally, the agreement contemplates that GBS PR will sell cGMP-certified raw cannabis and hemp materials only to Growblox for international resale or manufacturing of cosmeceutical, nutraceutical, and pharmaceutical products.