On May 23, 2018, we published revised versions of our Privacy Policy and User Agreements. Please read these updated terms and take some time to understand them. Your use of our services is subject to these revised terms.
Yes, I Agree.

CannabisNewsBreaks – GB Sciences, Inc. (GBLX) Sells 50% Ownership Stake in GB Sciences Louisiana, LLC

Company: GB Sciences, Inc. (GBLX)
Category: News

GB Sciences (OTCQB: GBLX) today announced that it has filed an 8k announcing the sale of its 50% ownership stake in GB Sciences Louisiana, LLC. for $16 million. The stake will be bought by Wellcana Plus at a fee of $7 million in cash at closing, $1 million in cash within 60 days of closing, and the remaining $8 million as an earn out. The profitability of the Louisiana operations will determine the proceeds realized through the earn out as well as the timing of those proceeds. The sale enables GBLX to focus on attaining a DEA license, profitability and GMP-compliancy at its Las Vegas, Nevada location. The company plans to collaborate with GB Sciences Louisiana on research and clinical trial opportunities in the future. Upon reaching mutually agreeable terms, GBLX will license its proprietary formulations to GB Sciences Louisiana for use in its research and final formulations.

To view the full press release, visit http://cnw.fm/skM8z

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. For more information, visit the company’s website at www.GBSciences.com.

About CannabisNewsWire

CannabisNewsWire (CNW) is an information service that provides (1) access to our news aggregation and syndication servers, (2) CannabisNewsBreaks that summarize corporate news and information, (3) enhanced press release services, (4) social media distribution and optimization services, and (5) a full array of corporate communication solutions. As a multifaceted financial news and content distribution company with an extensive team of contributing journalists and writers, CNW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. CNW has an ever-growing distribution network of more than 5,000 key syndication outlets across the country. By cutting through the overload of information in today’s market, CNW brings its clients unparalleled visibility, recognition and brand awareness. CNW is where news, content and information converge.

To receive SMS text alerts from CannabisNewsWire, text “CANNABIS” to 21000 (U.S. Mobile Phones Only)

For more information please visit https://www.cannabisnewswire.com

Please see full terms of use and disclaimers on the CannabisNewsWire website applicable to all content provided by CNW, wherever published or re-published: http://CNW.fm/Disclaimer

Do you have a questions or are you interested in working with CNW? Ask our Editor

CannabisNewsWire (CNW)
Denver, Colorado
www.cannabisnewswire.com
303.498.7722 Office
Editor@CannabisNewsWire.com

Official NewsWire Relationships

Alternative Products Expo Benzinga Cannabis Capital Conference Cannabis Business Summit & Expo 2019 Cannabis Drinks Expo Cannabis World Congress & Business Exposition Cannexpo Marigold PR MjMicro Conference New England Cannabis Network O'Cannabiz Conference & Expo Tether BudTender Tether BudTender Appreciation Week

CannabisNewsWire Currently Accepts

Bitcoin

Bitcoin

Bitcoin Cash

Bitcoin Cash

Doge Coin

Dogecoin

Ethereum

Ethereum

Litecoin

Litecoin

USD Coin

USD Coin

Contact us: 303.498.7722