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GB Sciences Partners with the Colorado Hemp Project

July 16, 2018

 

LAS VEGAS, July 16, 2018 -- /D.M.O. Newswire/ -- GB Sciences, Inc. (OTC: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.

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