Core One Labs' Subsidiary, Core Isogenics Inc., Completes 7th and 8th Harvests of Top Grade Flower at the Adelanto Indoor Grow
Vancouver, British Columbia--(Newsfile Corp. - February 19, 2020) - Core One Labs Inc. (CSE: COOL) (OTCQX: CLABF) (FSE: LD6) (WKN: A14XHT) ("COOL" or the "Company") announces that its wholly-owned subsidiary, Core Isogenics Inc., has completed its seventh and eighth consecutive harvests at the Adelanto facility.
The Core Isogenics' nursery and cultivation team continue to demonstrate consistent execution completing eight multiple strain harvests in eight weeks. This reliable execution is setting Core Isogenics apart from the numerous struggling cultivators in California. Core Isogenics has proven capable of meeting timely deliveries and contract deadlines. Now that Core Isogenics' cultivation portion of the facility is fully operational the Company will begin harvesting approximately 40-60lbs on a weekly basis to be sold in bulk or through its in-house brand Rêveur.
The facility is equipped with a technology that allows the Company to track the growing conditions in the vegetation and cultivation rooms while documenting both the feeding schedule and soil conditions, enabling the Company to accurately assess and modify the cultivation process creating a dependable model vastly superior to human by-hand methods of the past. The monthly revenue produced from the cultivation operations at today's wholesale market prices will continue to exceed the current operational cost of the entire Adelanto facility. The Company believes the consistent production of high-grade flower from the cultivation operations will translate into solid contracts to grow not only Core One Labs' quality flower but the ability to offer third-party brands a guaranteed production and delivery every week. In addition, the trim and shake from the flower production will translate into an additional revenue thereby further increasing the Company's margins for its existing product lines, Rêveur and CannaStrips™.
The CEO of COOL, Brad Eckenweiler, commented, "The Core Isogenics cultivation operations continue to impress the management team and the numerous brands that have visited the facility over the last eight weeks. This achievement is the foundation for a revenue model that can sustain COOL in-house products such as CannaStripsTM and Rêveur, as well as any additional brands that will benefit from a consistent high-quality product delivered on time. This demonstrated consistency is vital to our business model and to our third-party vendors. Our goal is to achieve continued solid predictability in every harvest." The Company will continue to update the market as information becomes available.
About Core Isogenics Inc.
Core Isogenics Inc. 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 (like 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 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 several 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.
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