Vancouver, British Columbia–(Newsfile Corp. – January 28, 2020) – Core One Labs Inc. (CSE: COOL) (OTCQX: CLABF) (FSE: LD6) (WKN: A14XHT) (“COOL”) announces that its wholly-owned subsidiary, CSPA Group, Inc. (“CSPA”), continues to expand its extraction capability using Color Remediation Technology (“CRT”).
CSPA has expanded production to additional forms of concentrate products including Diamonds, Live Resins, Sauces, Shatters, and Terpene Distillate Blends. The majority of CSPA’s current extractions are producing white label wholesale products for third-party brands highlighting the quality of concentrate products that it is producing. Developing expertise using the CRT method for extraction for third-parties ultimately improves the Company’s ability to expand and elevate its in-house brands utilizing CSPA’s distribution. CSPA’s wholesale market sales provide additional revenue beyond the established income stream from cultivation, distribution, manufacturing, nursery, transportation, and the existing product lines of Rêveur and CannaStrips™.
CRT is a system that utilizes a series of filters with a proprietary combination of fine media. Over the last few months the Company has been testing multiple combinations and improving the overall process to be effective on a large scale. CRT provides a cleaner more potent end product while preserving valuable terpenes and controlling the color of the finished product. CSPA’s ability to refine the CRT method has further opened the door to additional white labelling for some of the largest brands in California.
The CEO of COOL, Brad Eckenweiler, stated, “The subsidiaries of Core One Labs Inc. continue to advance their technical expertise at all levels of operations. This continuous improvement of skills in the extraction technology is evidenced by the demand for the products they are creating. The fact that established third-party brands have entrusted our subsidiaries to meet their customers highest expectations validates that the team has the expertise that will attract customers and serve as a foundation for the Company’s future brands.” The Company will continue to update the market on the progress of the subsidiaries as information becomes available.
About Core One Labs Inc.
Core One Labs Inc. is a technology company that licenses its technology to a state-of-the-art production and packaging facility located in Southern California. The Company’s technology produces infused strips (like breath strips) that are not only a safer, healthier option to other forms of delivery but also superior bioavailability of cannabis constituents. Some strips will also include supplemental co-active ingredients such as nutraceuticals, vitamins and peptides. The technology provides a new way to accurately meter the dosage and assure the purity of selected product. From start to finish, the production process, based on the Company’s technology, tests for quality and composition of all the ingredients used in every strip which results in a delivery system that is safe, consistent and effective. In addition, through its efforts to develop a better CannaStripsTM product, the Company has developed considerable expertise in cannabis extraction and nursery activities. The operational expertise developed by the Company as a result of these efforts has created new market opportunities for the Company in white label sales.
Core One Labs Inc.
CEO & Director
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Cautionary Disclaimer Statement:
The Canadian Securities Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this news release.
Information set forth in this news release contains forward-looking statements that are based on assumptions as of the date of this news release. These statements reflect management’s current estimates, beliefs, intentions and expectations. They are not guarantees of future performance. The Company cautions that all forward looking statements are inherently uncertain and that actual performance may be affected by a number of material factors, many of which are beyond the Company’s control. Such factors include, among other things: risks and uncertainties relating to the Company’s limited operating history and the need to comply with environmental and governmental regulations. In addition, marijuana remains a Schedule I drug under the United States Controlled Substances Act of 1970. Although Congress has prohibited the US Justice Department from spending federal funds to interfere with the implementation of state medical marijuana laws, this prohibition must be renewed each year to remain in effect. Accordingly, actual and future events, conditions and results may differ materially from the estimates, beliefs, intentions and expectations expressed or implied in the forward looking information. Except as required under applicable securities legislation, The Company undertakes no obligation to publicly update or revise forward-looking information.
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