GB Sciences, Inc., Setting Itself to be a Major Leader in Las Vegas Marijuana Dispensing and Innovation
In all of the research I have done concerning cannabis, it seems the answers to how marijuana can help people medicinally are not only locked by the complexities of the plant but are also being guarded by the 12 labors inlcuding Cerberus, the three headed dog of ancient Greek mythology. That is a metaphor for how difficult the federal government has made it to research marijuana. So, when I find a company like GB Sciences, Inc. (OTCQB: GBLX), a company that has made its focus trying to unlock the secrets of cannabis, I am drawn to it.
GB Sciences, Inc. is based out of Las Vegas and recently signed an LOI to buy 100% of NevadaPure, a dispensary in the booming marijuana economy of Las Vegas, for a total of $33 million. Sin City is beating its cannabis sales projections after the first seven months of recreational sales by nearly $1 million. With the acquisition of NevadaPure, GB Sciences, Inc. will be able to cutout middleman costs by acquiring three Nevada licenses adding them to the large list of Las Vegas dispensaries.
I feel like I sound like a broken record, but there is no denying the tight correlation between the entire cannabis sector of the market and the market as a whole. GB Sciences, Inc. faltered like almost every other equity at the beginning of the year. Its 50 dma will likely be resistance, but if the acquisition of NevadaPure is completed, then we could see a surge up. Otherwise the 200 dma is its likely support level.
This is the next big step for GB Sciences, Inc. which should be exciting for visitors and residents to have a new Las Vegas dispensary and one that is very focused on designing specialized strains and extracts for certain medical conditions. Their focus on bio-pharmaceutical research on cannabis is much needed as little is still known about how cannabis can be optimized for medicinal purposes. The $33 million purchase of NevadaPure would be countered by the estimated $16 million in annualized sales based off of results since adult-use cannabis sales started last July.
COO Kevin Kuethe said: “We have taken a major step toward capturing a lead position in the Nevada market. With our expertise in the science of cultivation, we plan on significantly improving the quality of the NevadaPURE facility’s output, as well as dramatically increasing the sales revenue.”
CEO John Poss said: “We are really pleased and excited by this deal. Gaining 100% ownership of a dispensary, picking up $16 million in annual sales, providing additional capacity and space for new partnerships/brands – I can’t think of anything wrong with that!”
What could potentially separate out GB Sciences Inc. from the rest of the Nevada dispensaries is their bio-pharmaceutical research on cannabis. They are working on creating both unique strains as well as concentrates for specific medical conditions. Currently they have a research agreement with Universidad de Sevilla to create a THC-free myrcene-based chronic pain formulation. You combine this innovative scientific approach with a 72,000 square foot facility from the pending acquisition of NevadaPure and it licenses, and you may have the ingredients for what marijuana dispensaries across the country will eventually model themselves after. GB Sciences, Inc. believes they can expand the current output of NevadaPure’s facility from roughly 4,200 pounds of dried marijuana flower each year to 12,000 pounds with their innovative GrowBLOX growing system.
read more at digipathlabs.com
Facebook Comments
Tags
GB Sciences Inc.GBLXGrowBLOXlas vegas marijuananevada marijuanaNevadaPureweed news
