GB Sciences' signs a letter of binding agreement with 4EVERGRN in its first out-of-state licensing deal.
LAS VEGAS, Nov. 14, 2018 /CNW/ -- GB Sciences, Inc. (OTCQB: GBLX) is proud to announce that it has signed a binding letter of intent with 4EVERGRN, LLC in Oklahoma. This company has been awarded cultivation, processing and dispensary licenses by the Oklahoma Medical Marijuana Authority.
Under their agreement, GB Sciences will design a cultivation and processing facility in Oklahoma, and provide 4EVERGRN with best-practice operating procedures. 4EVERGRN will produce and distribute GB Sciences products and brands under a licensing agreement in exchange for a royalty to GB Sciences. The agreement can be terminated if quality standards are abridged or compromised.
Monica Poss, VP of Corporate Planning, GB Sciences, remarks: "We are very excited to have penned our first licensing deal and hope it serves as a template for further agreements. These will allow GB Sciences to expand its reach nationwide without extensive capital outlays. Our partners in Oklahoma, Brooklyn Green Clopton and her associates at 4EVERGRN, are serious and professional in their efforts to bring the advantages of medical cannabis to the people of the state of Oklahoma. We are proud to be partnered with them."
Brooklyn Green Clopton, CEO of 4EVERGRN, responds: "Our 4EVERGRN team is comprised of Oklahomans that are passionate about cutting-edge cannabis development. 4EVERGRN's Dr. JoAnn Ryan has led the charge to ensure we create the best pharmaceutical grade cannabis products for the patients of Oklahoma. We believe GB Sciences' tissue culture propagation will lead the industry with the safest and most consistent products and 4EVERGRN is excited to be partnered with them in Oklahoma's new medical marijuana market."
John Poss, CEO and Chairman of the Board, comments: "Monica has done an excellent job in creating a path to bring our quality plant-based medical cannabis to the folks living outside of the state of Nevada and thereby improving the lives of patients."
About GB Sciences, Inc.
GB Sciences, Inc. (OTCQB: GBLX) is a diverse cannabis company, focused on standardized cultivation and production methods; as well as biopharmaceutical research and development. The Company's goal is creating safe, standardized, pharmaceutical-grade, cannabinoid therapies that target a variety of medical conditions. To learn more about GB Sciences, Inc., go to: http://gbsciences.com.
4EVERGRN will supply medicinal cannabis products, which have been researched and tested for quality and consistency, to all Oklahoma dispensaries. 4EVERGN's vision is to be a part of a larger movement of Oklahomans who are serious about the use of science-based medical cannabis treatment options. This will improve the quality of life for patients, families and communities. We believe that education and the medical use of cannabis will bring healing, alleviate suffering, lower opioid and prescription drug usage, and ultimately empower Oklahomans.
This press release may contain statements relating to future results or events, which are forward-looking statements. Words such as "expects", "intends", "plans", "may", "could", "should", "anticipates", "likely", "believes" and words of similar import may identify forward-looking statements. These statements are not historical facts, but instead represent only the Company's belief regarding future events, many of which, by their nature, are inherently uncertain and outside of the Company's control. It is possible that the Company's actual results and financial condition may differ, possibly materially, from the anticipated results and financial condition indicated in these forward-looking statements. Further, information concerning the Company and its business, including factors that potentially could materially affect the Company's business and financial and other results, are contained in the Company's filings with the Securities and Exchange Commission, available at www.sec.gov. All forward-looking statements included in this press release are made only as of the date of this press release, and we do not undertake any obligation to publicly update or correct any forward-looking statements to reflect events or circumstances that subsequently occur or of which we hereafter become aware.
Note: Although the Company's research and development activities are not illegal, the production and sale of cannabis products violate federal laws as they presently exist.
GB Sciences, Inc., 3550 West Teco Ave., Las Vegas, NV 89118
Tom Arcuragi, EVP, [email protected]
SOURCE GB Sciences, Inc.