Vancouver, British Columbia--(Newsfile Corp. - January 23, 2020) - Core One Labs Inc. (CSE: COOL) (OTCQX: CLABF) (FSE: LD6) (WKN: A14XHT) ("COOL" or the "Company") is pleased to see an increase in demand for Rêveur branded product being produced in its Adelanto facility.
Rêveur live Resin and Indoor Flower is currently being sold through the Company's distribution partner Fenix Logistics. Fenix has expanded the Rêveur line for both live resin and flower into 25 stores across California. The brand has been gaining traction with vendors who recognize that Rêveur is a high-quality product with an attractive price point in the industry. The addition of indoor flower to Rêveur's line up has retailers taking notice that the brand is expanding its footprint with quality products provided from its own source. Now that the Company has established weekly harvests of indoor flower, it can steadily supply product for the indoor flower line as well as fresh frozen for the live resin line. The Company has recently run its first fresh frozen batch from product that was grown in-house and received over a 15% yield, which is very high. Producing these high concentrate yields is one more step to proving the business model is working and will provide a path to profitability.
Casey Fenwick, President of Core One Labs, says, "It is great to see our Rêveur product line being noticed in the industry. The facility in Adelanto, CA was built for exactly this purpose, we can now provide a large volume of quality flower and concentrates while controlling costs. Our timing is excellent as the cost of legally produced indoor cannabis is currently on the rise."
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 a number of 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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