VANCOUVER, British Columbia, Dec. 20, 2019 /CNW/ -- Core One Labs Inc. (CSE: COOL), (OTCQX: CLABF), (Frankfurt: LD6, WKN: A14XHT) ("COOL" or the "Company") announces that its subsidiary, Core Isogenics Inc., has harvested 345 pounds of flower from its indoor facility at 9501 Commerce Way in Adelanto. This is the first harvest from the facility and accounted for approximately 10% of the cultivation area.
The harvested section comprising two rows, one at the floor level and one elevated approximately eight feet above floor level. The 345 pounds of flower buds are now being dried and are anticipated to yield finished flower buds of approximately 20% or 69 pounds of marketable flower. The goal in the near future is to harvest two rows per week. The trim and shake from the harvest will both supply adequate bio-mass for the production of CannaStrips™ and retail distillate products.
This first harvest of the facility and the yields are based on the earlier technology. The Company expects that the introduction of the Reiziger® nutrient program will increase current yields and accelerate the growth cycle. Now that the Company has produced high quality cannabis in its Adelanto facility, the next steps are to continue to refine the genetics, cultivation techniques, and nutrient regiments to optimize cultivation yields.
Core One Labs' CEO, Brad Eckenweiler, stated, "This successful harvest of the Core Isogenics cultivation facility is one more accomplishment for the Company as it continues to build its expertise and operational structure towards a truly vertically-integrated cannabis company from genetics to the customer's door step." The current market in California for indoor wholesale flower is between USD$1,200 to USD$1,800 per pound with tested COA confirmations.
The Company will be updating the market on the progress on the Core Isogenics Inc. cultivation as the 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 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 CannaStrips™ 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.
About Core Isogenics Inc.
Core Isogenics Inc. is in Adelanto, California and is a City permitted and State licensed cultivation and nursery operation in the California cannabis industry. Developing isogenic seed strains and automated cultivation methods for the cannabis industry with Core One Labs Inc., a British Columbia company.
About Reiziger® Holland
Reiziger® is the first hydroponic solutions for craftsmen. Formulated from the original recipes used at the legendary Seed Bank of Holland in the 1980s, Reiziger® rewards the hydroponic craftsman with unparalleled fruit and flower size with an enhanced flavor and aroma. A collaboration between the original King of Cannabis, the late Nevil Schoenmakers, founder of the Seed Bank of Holland and Reiziger developed the next generation of hydroponic technologies utilising PPX, a patented phosphorus that helps deliver gains in crop strength, color and size by enhancing the uptake of calcium, magnesium and micronutrients across a wide range of pH values. Reiziger solutions are the choice of master craftsmen since 1984.
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.