GrowBlox Sciences, Inc. (GBLX)

logo-2As medical marijuana gains more acceptance, many companies are now participating not only in distributing the product, but also in research and development to improve the production chain. GrowBlox Sciences, Inc is a company that offers solutions for cultivating and processing medical cannabis. Based in Las Vegas, Nevada, this development-stage company develops proprietary technologies that it intends to implement through state-level partners.

A primary technology of GrowBlox Sciences is the GrowBlox Cannabis Grow Chamber. It is an indoor plant-growing chamber with controlled climate and environmental parameters. Another is the InCUBEator Cannabis Propagation Chamber, which is used to ensure consistency in the tissue culture method of cannabis cultivation.

For the extraction of medicinal cannabis compounds, GrowBlox Sciences has ConversionLAB. It uses CO2 to help ensure that the extract is clean. In the final process of drying and curing, the company uses the CureBLOX Cannabis Drying System, which follows a specific algorithm for temperature and humidity. This makes the curing process and the product pathogen-free.

GrowBlox Sciences also presents itself as a leader in processing state and local licenses where there are medical cannabis programs. The company has specialists who cover standard application requests like compliance, security, branding, packaging, and sales plans.

Founded in 2001, GrowBlox Sciences, Inc started out as Flagstick Ventures, Inc. It became the Diabetic Treatment Centers of America, Inc in 2004, then Signature Exploration and Production Corp in 2008. Finally, it changed to GrowBlox Sciences, Inc in April 2014.

The company, valued at USD 22.41 M, currently trades in the OTC markets as GBLX. Its key executives are Craig M. Ellins, CEO and Chairman; Steven W. Weldon, CFO and Chief Accounting Officer; and Dr. Andrea Small-Howard, Chief Science Officer.

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Latest Financial News for GBLX

GB Sciences Announces the Sale of The Majority Interest in Nevada Cultivation Operations to Focus on Its First Two Cannabinoid-Based Medical Compounds for Parkinson's Disease and Neuropathic Pain

LAS VEGAS , Dec. 5, 2019 /CNW/ -- GB Sciences, Inc. (GBLX) announced the execution of a Binding Letter of Intent for the Sale of 75% of its membership interests in the Company's Las Vegas, Nevada cultivation and production operation. This transaction will significantly reduce the Company's operating expenses, generate near-term working capital, and provide ongoing cashflow to enable the Company to focus solely on its biopharmaceutical and wellness assets. The transaction is the next step in the Company's exit from cannabis cultivation and production.

GB Sciences Closes the Sale of GB Sciences Louisiana Cannabis Business to Wellcana Plus and Retains the Benefit of IP Developed Under GB Sciences Louisiana's Master Research and Development Agreement

The Sale, Which Immediately Eliminates Substantial Cash Obligations and Operating Expenses, Is Collateralized by Wellcana Plus's Interest in GB Sciences Louisiana. LAS VEGAS , Nov. 18, 2019 /CNW/ -- GB Sciences, Inc. (GBLX) completed the sale on November 15, 2019 of its 50% membership interest in GB Sciences Louisiana, LLC to Wellcana Plus, LLC, an affiliate of Wellcana Group, LLC who owns the other 50% interest. The sale immediately eliminates current cash obligations due from GB Sciences as well as the Company's share of operating expenses going forward.

The Closing Date of GB Sciences' Sale of GB Sciences Louisiana LLC Is Delayed

LAS VEGAS, Nov. 6, 2019 /PRNewswire/ -- GB Sciences, Inc. (GBLX) announces a delay in the sale of GB Sciences Louisiana LLC. On September 16, 2019, GB Sciences, Inc. (the "Company"), filed a Current Report on Form 8-K disclosing that the Company had signed a term sheet with K2 Logic, LLC ("K2") pursuant to which K2 will pursue the purchase of the Company's 50% ownership interest in GB Science Louisiana, LLC for $8,000,000 in cash and earn out provisions for up to an additional $8,000,000. GB Sciences, Inc. (GBLX) is a diverse cannabis company, focused on standardized cultivation and production methods; as well as biopharmaceutical research and development.

GB Sciences Welcomes Esteemed Patent and Intellectual Property Attorney, Mr. Edmond DeFrank, to Its Board of Directors

LAS VEGAS, Oct. 31, 2019 /PRNewswire/ -- GB Sciences, Inc. (GBLX) is pleased to announce that on October 23rd Mr. Edmond DeFrank joined its Board of Directors, filling a vacant seat. Mr. DeFrank is an attorney in the cannabis sector with deep expertise in patents and intellectual property. Mr. DeFrank brings a host of skills and experience beneficial to the Company.

GB Sciences' Chief Science Officer Featured on the Cover of the Marijuana Business Magazine

LAS VEGAS , Oct. 9, 2019 /CNW/ -- GB Sciences, Inc. (GBLX) is featured in the October 2019 edition of the Marijuana Business Magazine. Dr. Andrea Small-Howard , GB Sciences' Chief Science Officer and Director, explains why GB Sciences is well-positioned to provide research-supported product formulations for both market segments.