GB Sciences Inc (GBLX)

[alpinepennyman]

More news for a Monday morning.

GB Sciences Inc. Adds Provisional Nevada Recreational Cannabis License for Branded Recreational ProductsFont size: A | A | A
6:30 AM ET 7/10/17 | Comtex Newswires
GB Sciences, Inc. (OTCQB: GBLX) has added its own medical-grade retail brand to its already strong portfolio, which includes granted-medical and provisional-recreational use Nevada cultivation licenses and patent-pending medical formulations.

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The decision to sell to the recreational market through the addition of GB Sciences' own trusted-ingredient retail brands, strengthens the Company's vertically-integrated strategy of controlling product quality and purity from seed-to-sale. Premium flower and medical-grade oils for use in vape pens and tinctures will be sold under the Cultivation Labs banner.

On July 1st, Nevada joined Colorado, Oregon, Washington, and Alaska, to become the fifth state to legalize the use of recreational cannabis. Expectations ran high for the state given its international entertainment destination, Las Vegas. This city hosts forty-two million visitors annually - many of whom will take advantage of the new law. Dispensaries reported long lines with forty-five minute waits and extended hours. One such dispensary, ReLeaf, reported 1000 customers per day vs. a previous count of only 100-150 customers per day. The Nevada Dispensary Association reported three million in sales revenue for this four-day holiday weekend.

John Poss, CEO, GB Sciences, remarked: "The arrival of recreational sales in Nevada presents a unique and well-timed opportunity for GB Sciences. It will allow the Company to self-fund the research and development of our medical formulations, while building a globally trusted brand for recreational users. What better city than Las Vegas to show the world that the quality and purity of medical grade ingredients can and should be demanded in recreational products. We look forward to satisfying this demand for every visitor that comes to town."