CannLabs Set to Open New Cannabis Testing Lab in Nevada
Ryan Allway
November 7th, 2014
News, Top News
[stockchart symbol=CANL]
CannLabs Inc. [stockquote symbol=CANL], a leading provider of proprietary cloud-based analytics and scientific testing methodologies related to the cannabis industry, recently announced both state and local approval for an independent testing facility in Nevada to analyze medical cannabis. The laboratory will be based in Northern Las Vegas in the so-called “Cannabis Greenbelt”.
“With the granting of the license to CannLabs – NV, CannLabs Inc. enters into one of the largest and most rapidly growing medical marijuana markets in the country,” said CannLabs Inc. CEO Mark Mirken in a recent press release discussing the new laboratory. CannLabs – NV is the Health and Safety checkpoint in the seed-to-sale pipeline, assuring the wellbeing of the patients of Nevada.”
The state-of-the-art laboratory will have the capabilities to provide all state-mandated tests including potency profiles, microbiological contaminants, heavy metal analysis, and pesticide and residual solvent screening. The lab will also utilize over four years of proprietary analytics to offer a broad spectrum of consulting services, including formulation help and analytics evaluation.
“Early projections indicate that the matured market for cannabis testing in Nevada could exceed $15 million,” added Mr. Mirken. “We estimate that the lab will capture upwards of 30% of the market by the end of the first year of full market maturity.”
CannLabs – NV plans to begin construction in early 2015, with the project taking an estimated six months to complete at a cost of more than $1 million. Once completed, the 8,000 square foot laboratory will be in close proximity to an estimated 1.5 million square feet worth of cannabis production, while being located in the highly visible corner of N. Las Vegas Blvd and Cheyenne Ave.
Shares of CannLabs Inc. were trading even as of mid-day trading on Friday afternoon following the news release.
This article was published by CFN Enterprises Inc. (OTCQB: CNFN), owner and operator of CFN Media, the industry’s leading agency and digital financial media network dedicated to the burgeoning CBD and legal cannabis industries. Call +1 (833) 420-CNFN for more information.
About Ryan Allway
Mr. Allway has over a decade of experience in the financial markets as both a private investor and financial journalist. He has been actively involved in the cannabis industry since its inception, covering public and private companies.Disclaimer: Except for the historical information presented herein, matters discussed in this article contain forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from any future results, performance or achievements expressed or implied by such statements. Emerging Growth LLC dba TDM Financial, which owns CannabisFN, is not registered with any financial or securities regulatory authority, and does not provide nor claims to provide investment advice or recommendations to readers of this release. Emerging Growth LLC dba TDM Financial, which owns CannabisFN, may from time to time have a position in the securities mentioned herein and will increase or decrease such positions without notice. For making specific investment decisions, readers should seek their own advice and that of their own professional advisers. Emerging Growth LLC dba TDM Financial, which owns CannabisFN, may be compensated for its Services in the form of cash-based and/or equity- based compensation in the companies it writes about, or a combination of the two. For full disclosure please visit: https://www.cannabisfn.com/legal-disclaimer/.
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