Navigation Links
GrowBLOX Sciences, Inc. Partners with LaurelCo, LLC to Obtain Licenses to Cultivate and Dispense Medical Marijuana in Illinois
Date:7/25/2014

LAS VEGAS, July 25, 2014 /PRNewswire/ -- GrowBLOX Sciences, Inc. (OTCQB: GBLX) is pleased to announce the execution of a binding Memorandum of Understanding ("MOU") with LaurelCo, LLC, an Illinois limited liability company formed to pursue the acquisition of both cultivation and dispensary medical marijuana licenses in the state of Illinois. Pursuant to the MOU, GBLX will acquire a 20% equity interest in LaurelCo, LLC in exchange for licenses to use our proprietary GrowBLOXTM growing chambers, as well as all technology related to the machines and to various other proprietary technologies ("GrowBLOXTM Solutions") required for the cloning, growing, curing, and creation of pharmaceutical grade medical marijuana. Further, GBLX will provide technical assistance during the upcoming complex Illinois license application process. The MOU further provides that after LaurelCo, LLC has received one or more licenses in the state, GBLX will provide growing chambers for the LaurelCo, LLC's growing facilities, in exchange for an accelerated payback of actual costs, plus a 10% royalty interest going forward in any products created in the chambers and sold by the LaurelCo, LLC licensed entity.

Laurel Dineff, CEO and principal of LaurelCo, LLC said, "We are extremely excited about our new arrangement with GBLX. We have expended considerable resources in developing our plan for medical marijuana growth in this great state of Illinois. After exhaustive research, we have concluded that GBLX has not only the best growing technology, but also the best approach to making medical marijuana the serious pharmaceutical  it should be to treat the many maladies for which it has proven to be effective."

Craig Ellins, CEO of GBLX, stated, "We could not be more pleased to have this partnership with LaurelCo, LLC. The resources that its principals have made available to it, the prodigious quantity of good work that has already been done in terms of obtaining real property and other facilities necessary for the business, and the wonderful attitude of LaurelCo, LLC's management will make for a successful licensing effort and a prosperous and exemplary business. Moreover," he continued, "the agreement with LaurelCo, LLC represents a clear step forward in the GBLX strategy to create a nationwide supply of pharmaceutical grade and branded medical marijuana that is consistent and efficacious no matter where it is grown. With the formalization of our relationship with LaurelCo, LLC in Illinois, we are setting a standard for our growth into states in which GBLX does not have resources in place to operate a medical marijuana business by seeking out great partnerships who will operate the local business and be part of our nationwide plans."

About GrowBLOX Sciences, Inc.
GrowBLOX Sciences, Inc., is a research and biotechnical company that has developed proprietary indoor growing chambers specifically designed for medical cannabis cultivation.  The GrowBLOXTM chamber allows for completely controlled growing conditions, ensuring the manufacture of a consistent, toxin-free, natural and medicinal-grade product.  The Company believes that the advantages of a controlled environment over traditional outdoor or greenhouse growing, will empower the public, nutraceutical and pharmaceutical industries to embrace cannabis as an effective treatment for a myriad of serious medical conditions.  http://www.gbsciences.com

Forward-Looking Statements
Except for historical information contained herein, the statements in this release are forward-looking and made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.  Forward-looking statements are inherently unreliable and actual results may differ materially.  Examples of forward-looking statements in this news release include statements regarding the payment of dividends, marketing and distribution plans, development activities and anticipated operating results.  Factors which could cause actual results to differ materially from these forward-looking statements include such factors as the Company's ability to accomplish its business initiatives, significant fluctuations in marketing expenses and ability to achieve and expand significant levels of revenues, or recognize net income, from the sale of its products and services, as well as the introduction of competing products, or management's ability to attract and maintain qualified personnel necessary for the development and commercialization of its planned products, and other information that may be detailed from time to time in the Company's filings with the United States Securities and Exchange Commission.  The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

Contact:
Jonathan Barkman
Riverview Capital Enterprises
+1-866-845-0105


'/>"/>
SOURCE GrowBLOX Sciences, Inc.
Copyright©2014 PR Newswire.
All rights reserved

Related medicine technology :

1. Pressure BioSciences, Inc. and Target Discovery, Inc. Expand Strategic License Agreement and Collaboration Supporting TDIs Planned Offering of Personalized Medicine Clinical Diagnostic Services
2. Pressure BioSciences, Inc. to Discuss First Quarter 2012 Financial Results And Provide Business Update
3. KannaLife Sciences, Inc. Signs Exclusive License Agreement with National Institutes of Health Office of Technology Transfer (NIH-OTT)
4. Founded by Enlight Biosciences, KNODE partners with AstraZeneca and Other Partners
5. Regado Biosciences, Inc. to Present at the 2012 Wedbush PacGrow Life Sciences Conference in New York, NY
6. Regado Biosciences, Inc. to Present at the Canaccord Genuity 32nd Annual Growth Conference in Boston, MA
7. Pressure BioSciences, Inc. to Discuss Second Quarter 2012 Financial Results and Provide Business Update
8. Pressure BioSciences, Inc. Reports 70% Revenue Growth for Second Consecutive Quarter
9. QPS Acquires JSW Life Sciences, Largest Independent Contract Research Organization in Austria
10. Regado Biosciences, Inc. to Present at the UBS Global Life Sciences Conference 2012 in New York, NY
11. Parios Regenerative Sciences, Inc. Licenses Exclusive Rights to Organic Nanotechnology for Skin Repair
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:4/20/2017)... , April 20, 2017 Research ... Pharmacogenomics Market Size, Market Share, Application Analysis, Regional Outlook, Growth ... report to their offering. ... The global pharmacogenomics market was valued at US$ 7,167.6 ... Mn by 2024, expanding at a CAGR of 5.6% from ...
(Date:4/20/2017)... -- Research and Markets has announced the addition ... Analysis By Service (Manufacturing, Research), By Country, (Brazil, Mexico, Colombia, ... report to their offering. ... The Latin American pharmaceutical contract manufacturing services market is ... Low drug registration cost in Latin American countries and continuous ...
(Date:4/19/2017)... , April 19, 2017 The Mobile X-Ray product ... a healthy CAGR during the forecast period Mobile ... the global digital mobile X-Ray devices market, which is estimated ... 2017, expanding at a CAGR of 7% over the forecast ... opportunity of more than US$ 100 Mn in 2017 over ...
Breaking Medicine Technology:
(Date:4/21/2017)... ... 2017 , ... The Patient Advocacy Community of The Beryl Institute presented Eve ... Ravich Patient Advocacy Award in recognition of her extraordinary contributions to the field ... at The Beryl Institute’s annual Patient Experience Conference on March 20 in ...
(Date:4/21/2017)... Sterling, VA (PRWEB) , ... April 21, 2017 ... ... hosting its first weeklong campaign, AWARE: A Week of Addiction and Recovery Education, ... emerging evidence in treating and preventing substance use disorders. , The mission ...
(Date:4/21/2017)... Malvern, Worcestershire, UK (PRWEB) , ... April 21, ... ... Queen’s Award for Enterprise in the category of International Trade, the UK’s most ... performance in international trade, which represents 95% of total revenues and has grown ...
(Date:4/21/2017)... (PRWEB) , ... April 21, 2017 , ... Westside ... experienced, personalized dental care since 1985. After thirty-two years, Dr. Latner has become one ... to help my numerous clients over the years with all their dental needs,” said ...
(Date:4/21/2017)... ... 21, 2017 , ... Federal mandate, fines, controversy, questions about ... Obamacare program that most Republicans love to hate and Texas Agriculture Commissioner Sid ... , Like Obamacare, the Miller program centers upon a federal mandate. ...
Breaking Medicine News(10 mins):