VANCOUVER, British Columbia, Sept. 27, 2019 /CNW/ -- Core One Labs Inc. (CSE: COOL), (OTCQX: LDSYD), (Frankfurt: LD6, WKN: A14XHT) ("COOL" or the "Company") announces its wholly-owned subsidiary, Core Isogenics Inc., has been awarded a Provisional Nursery License.
The annual renewable Provisional Nursery License was granted by the California Department of Food and Agriculture ("CDFA"). This license is issued for the entire year and will need to be renewed in September of 2020. Currently only provisional licenses are being issued as the State of California is not ready to start issuing permanent annual licenses yet. The CDFA confirmed to the Company that when permanent licenses are being awarded, the provisional license will be converted to a permanent one automatically, without a requirement for the Company to re-submit its original application.
The Company continues its operations in development of plant genetics in order to control the cannabinoid, terpene, and flavonoid profiles. This provides the Company with a head start on capturing market share in the genetics field. Casey Fenwick, the Company's President, stated, "The development of genetics by Core Isogenics will allow us to use custom-designed plants in our indoor and outdoor cultivation as well as provide certain cannabinoids for use in CannaStrips™. I strongly believe that our efforts in genetics will allow the Company to take full advantage of procuring the best genetics and move towards establishing our own independent cultivation for use in our products, which will then be sold through Highway 395 Dispensary, creating a truly seed to sale vertically integrated cannabis company."
About Core Isogenics Inc.
The Company 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.
CannaStrips™ is 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 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.
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.