VANCOUVER, British Columbia, Nov. 27, 2019 /CNW/ -- Core One Labs Inc. (CSE: COOL), (OTCQX: CLABF), (Frankfurt: LD6, WKN: A14XHT) ("COOL" or the "Company") announces that its wholly-owned subsidiary, Core Isogenics Inc., has completed multiple transfers (approximately 6,400 seedlings) from the vegetation room to the flowering room.
Core Isogenics' flowering room is now operational and anticipating its first harvest in December. This is a significant milestone in the Company's journey to full seed to sale ability. The Company has now moved approximately 6,400 plants (approximately 80% of the flowering room) that:
- originated as seedlings in the nursery/genetics room;
- were moved to the vegetation room during the immature plant stage;
- are in the flowering room where the plants begin their final stage of producing high quality flower; and
- when fully mature, will be harvested, then transferred for drying and processing for sale.
After the process is complete, the flower will be sold by the Company's distribution partner, Fenix Logistics, as well as processed for use in the Rêveur and CannaStripsTM brands.
The plants are being moved from the vegetation room where the focus is on maturing the plants to a specific size and shape and into the flowering room. In the flowering room, the Company will utilize a different lighting system and optimize the feeding schedule and nutrient mixture to promote high quality flower production. The facility is able to track the growing conditions in both rooms, as well as the feeding schedule, in order to gather information, facilitate duplication of the process, and consistently produce high quality product in every harvest. This consistency is vital in streamlining the weight and quality of the product and provides clients with predictable product, ensuring an ongoing revenue stream for the Company.
President of Core One Labs Inc., Casey Fenwick, stated, "Being able to produce our own indoor flower on a year-round basis opens the door to increased product lines. These lines include selling flower in bulk and through our brands in smaller increments with higher margins. We have seen a demand for high quality legal product and this is evident in the market prices. Our indoor growing ability will allow the Company to control the cost and quality of oil that goes into our flagship product CannaStripsTM. The Company will also produce a concentrate from our own material further diversifying our product line. We are seeing our plans come to fruition and this indoor cultivation ability is another example of our strategy to mitigate the risks faced by many of our competitors while providing the Company with multiple revenue streams."
Additionally, the Company is pleased to announce the engagement of Khaos Media Group for its marketing and shareholder awareness program. The services will be provided under a month-to-month agreement at US$40,000 per month.
CannaStripsTM is a formulated oral strip for effective buccal mucosal delivery that disrupts the barrier created by saliva coating the mucosal membrane for the active materials (in this case cannabinoids) which have been nanoparticulated and encapsulated to penetrate the multiple layers of mucosal and sub-mucosal membranes to the blood stream. Once in the blood stream the encapsulation is undetectable as a foreign material by the liver. This undetectability allows the material to avoid being filtered out of the blood stream by the liver. The encapsulation also is more effective in penetrating the blood-brain barrier and allowing for greater bioavailability and extending the effective time from a single dose.
About Core Isogenics Inc.
Core Isogenics Inc. is located 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 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 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.
CEO & Director
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Cautionary Disclaimer Statement:
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.
SOURCE Core One Labs Inc.