PHOENIX, AZ - (NewMediaWire) - August 11, 2017 - Corix Bioscience Inc. (OTCQB: CXBS), a next generation tissue cell culture to pharmaceutical grade cannabinoid oil (CBD) manufacturer, announces that they will move their tissue cell culture and research divisions into a new 10,122 square foot laboratory in Carson City, Nevada on a three-year lease. The lease commenced on August 1st.
This move will enable Corix to produce over 3 million plantlets in the immediate future and set them up to double that in the second full year. This new laboratory will be the first known tissue culture facility focused exclusively on the hemp and cannabis market. Until now, Corix relied on outside suppliers for seeds and clones. This will bring all propagation in-house. Part of the laboratory will be dedicated to the research of their proprietary CBD products and will require adding about 8 new employees.
Michael Ogburn, CEO of Corix Bioscience Inc., stated, "Moving into this new facility is going to give us the room we need to keep up with our aggressive expansion. We expect to produce over 750,000 plantlets just for ourselves next spring and sell the remaining 2.2 million plants on the wholesale market adding a potential $8 million in revenue. We also needed the space for the ongoing breeding of new strains for the medical industry's ever-growing needs we're seeing firsthand as the first major player for applications for cancer, the opioid epidemic, and other illnesses and diseases looking for treatments from the CBD oil."
Corix's main focus is to produce proprietary cannabis and hemp strains that have direct connections to specific ailments. "By increasing certain levels of some cannabinoids and decreasing others, we are streamlining these strains. Once we get these strains to where we want them, we will patent the DNA 'fingerprint.' We feel this is mandatory for the FDA to consider approval on our products which is our ultimate goal," stated Ogburn.
About Corix Bioscience Inc:
Corix Bioscience, Inc. ("Corix") is a fully reporting SEC Wyoming corporation listed as OTCQB: CXBS. Corix is the developer of proprietary cannabis and industrial hemp strains using tissue cell cultures to propagate living plants, with plans to patent the strains to be used in the pharmaceutical medical industries.
Our methods allow us to create and breed new and existing plant strains from tissue cells free of any pathogens or disease. We grow these plants to maturity and extract the oils which are the "medicine" part of the plant. Our sales are focused towards the medical industry and we are developing brand named products to be released in early 2018.
Company headquarters are in Phoenix, AZ with our laboratory and processing facility in Carson City, NV and fields for growing the plants in Genoa, NV. We are currently looking at expanding our footprint into Washington, Oregon, California and Arizona. The Company's mission is to create clean and consistent products in medical grade facilities. Consistency being the key which will ultimately yield a safer and superior product, better for people and the environment. For more information, please visit Corix's website at www.corixbioscience.com
Forward Looking Statement
This press release, and those statements regarding Corix Bioscience and the Company, contain forward-looking statements that relate to expectations, beliefs, projections, future plans and strategies, anticipated events and similar expressions. Forward-looking statements may be identified by use of words such as "may," "will," "should," "expects," "intends," "plans," "anticipates," "believes," "estimates," or "potential" or similar words or phrases which are predictions of or indicate future events or trends. Statements such as those concerning potential acquisition activity, investment objectives, strategies, opportunities, other plans and objectives for future operations or economic performance are based on the Company's current expectations, plans, estimates, assumptions and beliefs that involve numerous risks and uncertainties. You are cautioned not to place undue reliance on any forward-looking statements and the Company disclaims any obligation to publicly update or revise any forward-looking statement to reflect changes in underlying assumptions or factors, new information, future events or other changes. Please refer to Company's filings with the Securities and Exchange Commission for further information.