LAS VEGAS, May 14, 2019 /PRNewswire/ — GB Sciences, Inc. (GBLX) today announced it is nearing completion of $700,000 in power and water upgrades at its cultivation facility in Las Vegas, NV, which will more than triple the company’s flower production capabilities. The upgrades will allow GB Sciences to expand its Las Vegas cultivation facility, currently at 180 active grow lights, to approximately 600 lights total. With the industry average yield of one and a half (1.5) pounds per light of cured untrimmed flower, and current market rates per gram, the company is positioned to increase its revenue by approximately $1.4 million per grow cycle at the Las Vegas facility.
About GB Sciences, Inc.
GB Sciences, Inc. (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.
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.
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