• Loading stock data...
PublicWire | Emerging Market Stock News
  •  Home
  • Technology
  • Medical
  • Energy
  • Cannabis
  • Finance
  • Retail
  • General
  • Podcast
  • Videos
  • Services
  •  Home
  • Technology
  • Medical
  • Energy
  • Cannabis
  • Finance
  • Retail
  • General
  • Podcast
  • Videos
  • Services
No Result
View All Result
PublicWire
No Result
View All Result

Home » Cannabis » GB Sciences Increased Sales 400% Since First Harvest

GB Sciences Increased Sales 400% Since First Harvest

Anthony Ramsumiran by Anthony Ramsumiran
April 26, 2019
in Cannabis
3 min read
27
0
GB Sciences Wins Louisiana State University (LSU) Bid to Act as LSU Agricultural Center’s Exclusive Operator of Medical Cannabis Production Facility

(PRNewsfoto/GB Sciences, Inc.)

LAS VEGAS, Oct. 23, 2017 /PRNewswire/GBLX, — GB Sciences, Inc. (OTCQB: GBLX) projects sales of $500,000 in October and continued sales of at least $500,000 per month over the next three months. GB Sciences recorded unaudited sales of approximately $320,000 in the three months ended 9/30/17.

The company is operating at 200 grow lights, which is only 30% of its expected final capacity after build out is completed. After the final build out, cultivation revenues will continue to increase with a target flower capacity of $18Million annually. The company is expected to open its production facility in late November or early December of 2017. This operating unit should generate additional significant free cash flow from oil over 2018 at a steadily accelerating pace.

GB Sciences’ Cultivation Labs™ yielded a first harvest the last week in June 2017. Between July 1st and September 31, 2017 the initial crops or ‘spins’ were harvested and sold. These first crops were used to give valuable feedback on everything from nutrients, to irrigation, to environmental controls. These initial crops have led to producing a very high quality medical grade cannabis.

Throughout the third quarter, the propagation and cultivation systems continued to be refined and the quality of the cannabis flower improved. This improved flower quality has also improved the sales price per gram. In the month of October alone, premium flower sales have yielded $500K.

Las Vegas adult use sales for the first month of operation were twice those generated by Colorado during their first month of adult use, and seven times that of Oregon and Washington. This high demand has produced a cannabis shortage in Nevada. All revenue projections are subject to fluctuations in the wholesale price of cannabis in the Nevada market.

GB Sciences is now beginning the packaging and distribution of pre-roll and premium flower products.  This product will be sold as retail through dispensaries. The revenue story will now have a consistency that matches GB Sciences’ verified seed-to-sale process.

“Ours is a strong revenue story and getting stronger,” said John Poss, CEO, GB Sciences.  “We’ve come a long way and are now the company to watch.”

About GB Sciences, Inc.
GB Sciences, Inc. (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.

Forward-Looking Statements
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.

Contact Information
Corporate:
GB Sciences, Inc., 3550 West Teco Ave., Las Vegas, NV 89118
866-721-0297, or
Liz Bianco Publicity Director, liz@gbsciences.com, http://gbsciences.com
Tom Arcuragi, Sr. VP Marketing, tom@gbsciences.com

Tags: biopharmaceuticalcannabisCultivation LabsGB SciencesGBLX
Anthony Ramsumiran

Anthony Ramsumiran

Anthony has a very strong background in Economics. He was born and raised in London and is now based in Orlando, Florida. With over 17 years of experience in automotive and technology.

Related Posts

Zenabis returned $1.9 million worth of pot  to Sundial over bad quality and visible molds
Cannabis

Zenabis returned $1.9 million worth of pot to Sundial over bad quality and visible molds

August 22, 2019
269
Tilray to start exporting medicinal pot to Germany
Cannabis

Tilray to start exporting medicinal pot to Germany

August 21, 2019
134
CannTrust stocks fell another 5% after weed distributor returned millions worth of pot
Cannabis

CannTrust stocks fell another 5% after weed distributor returned millions worth of pot

August 20, 2019
147
Cannabis stocks fell as possible recession brews
Cannabis

Cannabis stocks fell as possible recession brews

August 14, 2019
157
Hexo’s Stocks Continue To Suffer A Cannabis Stocks Dive
Cannabis

Aurora Cannabis hovers trade flat amid strong market

August 13, 2019
161
Health inspectors flagged CannTrust’s non-compliance again, sending stocks down by 26%
Cannabis

Health inspectors flagged CannTrust’s non-compliance again, sending stocks down by 26%

August 12, 2019
128
Currently Playing

Subscribe To Our Newsletter

Ad

PublicWire | Emerging Market Stock News 24/7 | Investor Relations US Stock Market

© Copyright 2020 PublicWire.com

Navigate Site

  • About
  • #96576 (no title)
  • Disclaimer
  • Watch LIVE
  • Privacy Policy
  • Terms and Services
  • Contributors

Follow Us

No Result
View All Result
  • LIVE Investor News Channel
  • Cannabis
  • Energy
  • Finance
  • General
  • Medical
  • Podcasts
  • Retail
  • Technology
  • #370 (no title)

© Copyright 2020 PublicWire.com

Login to your account below

Forgotten Password?

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Public Wire Logo

Hello please subscribe to our newsletter to get up to date news weekly!

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.