VANCOUVER, British Columbia, Nov. 25, 2019 /CNW/ -- Core One Labs Inc. (CSE: COOL), (OTCQX: CLABF), (Frankfurt: LD6, WKN: A14XHT) ("COOL" or the "Company") announces that it has shipped Rêveur premium indoor flower line to its distribution partner, Fenix Logistics.
Core one Labs' wholly owned subsidiary, CSPA Group Corp., has tested and packaged a new product under the Rêveur brand line of products. Prior to introducing this new product, the Company had three strains that were available in the marketplace. The Company expects to grow and develop more strains to expend its Rêveur brand. To date all the products under the Rêveur brand had only half a gram of live resin concentrate. This new product uses a one-gram premium indoor flower that has been successfully state-certified and packaged to be sold by the Company's distribution partner, Fenix Logistics. The Company plans to expand the size increments of the Rêveur line of products as supply becomes more readily available.
Core One Labs Inc. President, Casey Fenwick, stated, "The addition of Rêveur premium indoor flower is the first of many diversifications of products that will be produced, tested, packaged and distributed all out of our state-of-the-art facility in Adelanto, California. With the vaping industry taking such a hard hit lately and our indoor grow in full swing we wanted to take advantage of the shift in purchasing products at the retail level as well as ramp up the demand for our packaged flower. The returns we will see are significantly greater when selling in a smaller packaged form versus in bulk, however, to achieve faster revenues we are planning to utilize bulk sales as well as retail, individually packaged products."
The Company will be updating the market as to the progress on the farm as new information becomes available.
About Core One Labs Inc.
Core One Labs Inc. is a technology company that licenses its technology to a state-of-the-art production and packaging facility located in Southern California. The Company's technology produces infused strips (similar to breath strips) that are not only a safer, healthier option to other forms of delivery but also provide superior bioavailability of cannabis constituents. Some strips will also include supplemental co-active ingredients such as nutraceuticals, vitamins and peptides. The technology provides a new way to accurately meter the dosage and assure the purity of selected product. From start to finish, the production process, based on the Company's technology, tests for quality and composition of all the ingredients used in each and every strip which results in a delivery system that is safe, consistent and effective. In addition, through its efforts to develop a better CannaStripsTM product, the Company has developed considerable expertise in cannabis extraction and nursery activities. The operational expertise developed by the Company as a result of these efforts has created new market opportunities for the Company in white label sales.
Core One Labs Inc. Brad Eckenweiler CEO & Director
The Canadian Securities Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this news release.
Information set forth in this news release contains forward-looking statements that are based on assumptions as of the date of this news release. These statements reflect management's current estimates, beliefs, intentions and expectations. They are not guarantees of future performance. The Company cautions that all forward looking statements are inherently uncertain and that actual performance may be affected by a number of material factors, many of which are beyond the Company's control. Such factors include, among other things: risks and uncertainties relating to the Company's limited operating history and the need to comply with environmental and governmental regulations. In addition, marijuana remains a Schedule I drug under the United States Controlled Substances Act of 1970. Although Congress has prohibited the US Justice Department from spending federal funds to interfere with the implementation of state medical marijuana laws, this prohibition must be renewed each year to remain in effect. Accordingly, actual and future events, conditions and results may differ materially from the estimates, beliefs, intentions and expectations expressed or implied in the forward looking information. Except as required under applicable securities legislation, The Company undertakes no obligation to publicly update or revise forward-looking information.