Growblox Sciences Inc (OTCMKTS:GBLX) is making a strong move up since dipping below $0.20 a share earlier this year. As pot stocks heat up across the board GBLX has been given a significant boost.
GBLX started trading as Growblox Sciences Inc in April of last year after the name change from Signature Exploration and Production Corp.
Growblox Sciences Inc (OTCMKTS:GBLX) is a biotechnology research and development company focused on creating safe, standardized pharmaceutical-grade cannabis-based therapies that target a variety of medical conditions. The company is pioneering technology, industry-leading processes, and a big data-driven clinical research and development algorithm to bring relief to patients in communities across the country.
GB Sciences’ pioneering self-contained growing unit isolates and protects the plants growing inside while generating ideal growing environments to ensure high quality, purity, and consistency.
TissueBLOX™ – The tissue culture incubator is programmed to regulate lighting, temperature, and humidity to facilitate cell multiplication and the formation of embryos and shoots from the sterile explants.
GrowBLOX™ – GB Sciences’ pioneering self-contained growing unit that isolates and protects the plants growing inside while generating ideal growing environments
CureBLOX™ – The CureBLOX™ module enables us to eliminate the risk of mold growth and ensure that the chemical profile of our products is consistent from harvest to harvest.
GB Sciences ApotheCAREians – Highly trained and certified ApotheCAREians work with patients to determine their medical needs, identify therapeutic products, install GB Sciences’ app on their hand-held devices, and demonstrate how to place orders.
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ApotheCAREians are patient-care professionals who know more about cannabinoid therapy than most physicians, since doctors are rarely trained in cannabinoid therapy. They understand the science of cannabis and can help patients choose the cannabinoid therapy products that will provide the most effective treatment for their particular medical conditions.
Last year GBLX announced the acquisition of four Nevada State Medical Cannabis licenses. An agreement with Sandra Tiffany, a former state senator of 14 years, an important figure in the legalization of medical cannabis in Nevada, and GBLX’s General Manager of Nevada operations, brings three of those medical cannabis licenses to GrowBLOX Sciences.
Back in July GBLX announced an entity associated with Pacific Leaf Partners LLC, the strategic partner that financed the buildout of the Teco Avenue cultivation facility in Las Vegas, has completed the purchase of that building.
In connection with the purchase, the initial term of the GBLX lease covering the facility was extended to ten years, with an optional five-year extension. GBLX has also entered into a preliminary amendment of its existing agreements with Pacific Leaf Partners. The amendment eliminates Pacific Leaf’s option to buy into the cultivation facility itself, and will substantially reduce Pacific Leaf’s existing royalty, which was done in consideration of the substantial intellectual property relating to proprietary strains of cannabis conveyed exclusively to GBLX by Pacific Leaf. The new longer term lease, the elimination of the option, and the decrease in royalty obligations were exchanged for the issuance of two million shares of GBLX common stock to Pacific Leaf or its designees. The precise terms of the new arrangements will be released upon completion.
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Currently trading at a $28 million market valuation GBLX has little assets or debt and no revenues to date. But this is an exciting story developing in small caps; the Company has developed state-of-the-art technologies in plant biology and cultivation designed to produce consistent medicinal cannabis. We will be updating on GBLX when more details emerge so make sure you are subscribed to Microcapdaily so you know what’s going on with GBLX.
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Disclosure: we hold no position in GBLX either long or short and we have not been compensated for this article.