Core One Labs Inc. (CSE: COOL), (OTCQX: CLABF), (Frankfurt: LD6, WKN: A14XHT) (“COOL” or the “Company”) announces that its wholly-owned subsidiary, Core Isogenics Inc., has completed its second and third on-going harvests at the Adelanto facility.
The second and the third harvests comprised approximately 20% of flower room capacity. The Company expects recurring harvest yields to produce anywhere from forty to sixty pounds of top-grade flower and small bud per harvest. The current wholesale market value for top-grade indoor flower ranges from $1,200 to $1,800 per pound https://reports.cannabisbenchmarks.com/ and is based on a defined market for legally grown cannabis in California. The Company’s management is pleased that, according to the current estimates, the recurring revenue from cultivation operations, calculated at the above-noted wholesale market prices, will soon exceed the present operational cost of the facility including extraction, distillation and all manufacturing operations, as well as distribution and transportation. This flower profit comes without adding the revenue from the Company’s existing product lines Rêveur and CannaStrips™.
The Adelanto facility is set up for recurring harvests about one week apart. The second and the third harvests highlighted the dedication and professionalism of the Core One Isogenics nursery and cultivation team as the second harvest took place on Christmas Eve and Christmas Day and the third harvest fell on New Year’s Eve and New Year’s day. The Core Isogenics’ team braved winter driving conditions to complete the harvest as the Adelanto facility was covered in snow on Christmas Day and the day after. The Cajon Summit on Interstate 15, the freeway connecting southern California to the high desert, was closed all night and the next day: https://abc7.com/weather/5-freeway-closed-after-major-snowstorm/5791089/.
The CEO of COOL, Brad Eckenweiler, stated, “Just about two weeks ago we announced our first harvest and now our second and third. I am very pleased with our team and of the ongoing top grade flower that we are producing. This week our team demonstrated their dedication at a level rarely found in any work force, through snow and holidays with smiles and attitudes of accomplishment they completed the second and third harvests. It is extremely gratifying to see this project taking solid operational form as the corner stone of the COOL business model. This facility will allow us to consistently produce high quality products in flower, Rêveur and in CannaStrips™ from this point on.” The Company will continue to update the market on the progress of the facility as information becomes available.
About Core Isogenics, Inc.
Core Isogenics Inc. 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.
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 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.