Green Technology Solutions, Inc. (OTCBB: GTSO) continues work to bring its new cannabis testing laboratory online in Colorado as demand rises within the industry for improved, standardized testing methodology.
“There remains an enormous variance in testing results from lab to lab in Colorado, making it difficult for growers and retailers to know who to trust,” said GTSO CEO Wallace W. Browne. “We are working to establish a cutting-edge new laboratory capable of delivering consistent testing results that are transparent, sensible and reproducible.”
Cannabis is not yet recognized on a federal level, so there are no standards for product testing established by the FDA. The Colorado Department of Public Health and Environment (CDPHE) and Marijuana Enforcement Division (MDE) regulate testing in the state. In March, legislation was introduced that would create statewide laboratory standards for the state’s 18 pot-testing labs.
Discrepancies between state-approved labs, however, have opened what GTSO believes could be a multi-million-dollar market opportunity there.
“The cannabis industry is only just now maturing to the point that patients are demanding to know exactly what they’re putting in their bodies,” Browne said. “Edibles, especially, are currently all over the map with regard to potency. We are building a facility now that we hope will soon make us a trusted name in the industry.”
In order to capitalize on the rising demand in Colorado for cannabis testing services, GTSO is seeking out a new permanent location for the Class 5 clean room it acquired last month. The clean room is a germ- and pest-free environment where GTSO can reliably test cannabis products for contamination, potency and breeding, among other measurable attributes.
By establishing a working lab in Colorado capable of testing and demonstrating cutting-edge cannabis products, GTSO expects to help the growing number of cannabis professionals in the U.S. refine their offerings and guarantee product purity and consistency to their customers. The clean room was acquired without a commitment for lease, which was a key consideration for making the deal.
About Green Technology Solutions, Inc.
Green Technology Solutions, Inc., which provides business support, delivery system products and horticultural technology support, continually introduces new products and services, enabling it to compete alongside GW Pharmaceuticals (OTCBB: GWPRF), INSYS Therapeutics, Inc. (NASDAQ: INSY) and ENDEXX Corp. (OTCBB: EDXC) and others in a booming industry expected to be $10 billion by 2018. A growth-oriented company, Green Technology Solutions Inc. (GTSO) explores the fast-growing cannabis market for resources, including but not limited to rare earth elements, precious metals and herbal supplements. For more information, visit www.gtsoresources.com/investors.
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Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: This news release contains forward-looking information within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including statements that include the words “believes,” “expects,” “anticipate” or similar expressions. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the company to differ materially from those expressed or implied by such forward-looking statements. In addition, description of anyone’s past success, either financial or strategic, is no guarantee of future success. This news release speaks as of the date first set forth above and the company assumes no responsibility to update the information included herein for events occurring after the date hereof.
Contacts:
Wallace W. Browne, 832-570-3367
President
and CEO
info@gtsoresources.com
