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SOURCE GrowBLOX Sciences, Inc.
LAS VEGAS, June 2, 2014 /PRNewswire/ -- GrowBLOX Sciences, Inc. (OTCQB: GBLX), a biotechnology and research company, announced today that the company has raised $5 million through a private placement of its common stock. Shares were sold to accredited and institutional investors, and proceeds will be used to support GrowBLOX Sciences' continued growth, as well as for general corporate purposes.
"We are very pleased with the success of this capital raise and the expression of continued confidence from the investment community," said Steven Weldon, Director and CFO of GrowBLOX Sciences, Inc., "the additional capital will allow us to continue business plans for the manufacturing of our GrowBLOX indoor growing chambers and the continued pursuit of medical marijuana licenses across the United States."
As of June 2, 2014, GrowBLOX Sciences, Inc. has 21,415,655 shares outstanding.
About GrowBLOX Sciences, Inc.
GrowBLOX Sciences, Inc., is a research and biotechnical company that has developed proprietary indoor growing chambers specifically designed for medical cannabis cultivation. The GrowBLOX chamber allows for completely controlled growing conditions, ensuring the manufacture of a consistent, toxin-free, natural and medicinal-grade product. The Company believes that the advantages of a controlled environment over traditional outdoor or greenhouse growing, will empower the public, nutraceutical and pharmaceutical industries to embrace cannabis as an effective treatment for a myriad of serious medical conditions. http://www.gbsciences.com
Except for historical information contained herein, the statements in this release are forward-looking and made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are inherently unreliable and actual results may differ materially. Examples of forward-looking statements in this news release include statements regarding the payment of dividends, marketing and distribution plans, development activities and anticipated operating results. Factors which could cause actual results to differ materially from these forward-looking statements include such factors as the Company's ability to accomplish its business initiatives, significant fluctuations in marketing expenses and ability to achieve and expand significant levels of revenues, or recognize net income, from the sale of its products and services, as well as the introduction of competing products, or management's ability to attract and maintain qualified personnel necessary for the development and commercialization of its planned products, and other information that may be detailed from time to time in the Company's filings with the United States Securities and Exchange Commission. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
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