Vancouver, British Columbia - TheNewswire - January 24, 2020 - Gaia Grow Corp. (TSXV:GAIA) (the "Company" or "Gaia") is pleased to announce that it has increased the potential CBD percentage from its biomass to just under 6% through a drying process known as milling. The Company has been working to achieve this result using an exclusive third-party technology. With this technology, Gaia can process between half and a full tonne of biomass per hour and increase CBD quality in biomass by over 300%. Official test results below:
The Company will provide additional details of the technology once further runs are complete.
In addition, Gaia has successfully delivered its first biomass shipment of 21,220 pounds or 9,645 kilograms (one full truck) to its offtake partner, further demonstrating Gaia's ability to execute quickly for its partners. The Company will provide further information regarding this transaction as it becomes available.
"In many of our previous news releases, I have spoken to innovation and this is one that I'm proud to share" said Frederick Pels, CEO of Gaia. "Gaia now has exclusive access to technology that will increase the value of its own crop, as well as the ability to buy lower CBD biomass increasing its potency, viability, and significantly increase its value. Not only does it multiply the CBD percentage, but it also creates a product that extraction equipment can operate at a higher efficiency, eliminating the need for bale busters and manpower and most importantly saving time on each run. Our goal has been to build value for not only us as vendors of this amazing product, but also for the extraction facilities that purchase it - a goal I am happy to say we have achieved. This technology will create a second revenue stream outside of our own cultivation and allow Gaia to provide its offtake partners with near endless high potency CBD inputs and an overall better product. The 300% increase in quality was verified by both our own tests and third- party testing. Gaia has brought a serious solution to the Canadian hemp industry and we look forward to continuing to innovate and demonstrate why Gaia is quickly becoming an industry leader."
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
CAUTIONARY AND FORWARD-LOOKING STATEMENTS
This news release contains forward-looking statements and forward-looking information within the meaning of applicable securities laws. These statements relate to future events or future performance. All statements other than statements of historical fact may be forward-looking statements or information. Forward-looking statements and information are often, but not always, identified by the use of words such as "appear", "seek", "anticipate", "plan", "continue", "estimate", "approximate", "expect", "may", "will", "project", "predict", "potential", "targeting", "intend", "could", "might", "should", "believe", "would" and similar expressions.
Forward-looking statements and information are provided for the purpose of providing information about the current expectations and plans of management of the Company relating to the future. Readers are cautioned that reliance on such statements and information may not be appropriate for other purposes, such as making investment decisions. Since forward-looking statements and information address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors and risks. These include, but are not limited to, the risks associated with the hemp industry in general such as operational risks in growing; competition; incorrect assessment of the value and potential benefits of various transactions; ability to access sufficient capital from internal and external sources; failure to obtain required regulatory and other approvals and changes in legislation, including but not limited to tax laws and government regulations. Accordingly, readers should not place undue reliance on the forward-looking statements, timelines and information contained in this news release.
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