February 5, 2019
Jamie Blundell, President & COO is pleased to provide the following update Jushi, one of CGOC’s private holdings:
Sound Wellness LLC (“Sound Wellness”), a subsidiary of Jushi Inc (“Jushi”), announced yesterday, receiving approval of its industrial hemp-CBD processor license application as part of the New York State Industrial Hemp Agricultural Research program, administered by the New York State Department of Agriculture and Markets. Sound Wellness’ hemp-CBD processor license supports the Company’s initiative to create product innovations centered around the untapped potentials of hemp.
By investing over $5 million in a high-tech hemp processing operation on the east side of Buffalo, NY, Jushi expects to create approximately 30-65 jobs in the area. The facility will house a state-of-the-art lab, allowing Sound Wellness to create advanced product formulations using CBD distillate, CBD isolate, and water-soluble CBD.
The MEND product line will initially be available on site at the DENT Neurologic Institute at a discount to its patients. Dr Mechtler stated, “Jushi’s involvement in CBD production is a game changer for patients. Not only will this offer improved quality products but will also address the major obstacle that patients have —which to date, has been the current high-cost of medical cannabis and unreliable quality of hemp-derived CBD products. Sound Wellness’s plan is anticipated to allow DENT’s cannabis research team to facilitate high-quality product development supporting clinical research to find appropriate dosages of CBD. At the end of the day this is expected to legitimize the integration of therapeutic, cannabinoid-based products into conventional provider-driven care and give comfort to patients and practitioners that patients are using safe, physician-tested products.” Sound Wellness products, including MEND products, are expected to be launched in retail locations and available via ecommerce throughout the United States and abroad in 2019.
Sound Wellness is also in discussions with local area farmers to secure an additional 500,000 pounds of hemp to fuel its operations in late 2019 and 2020.
To read full announcement, follow this link.
For further information please contact Cannabis Growth Opportunity Corporation:
|Website: www.cgocorp.com||Investor Relations Email: firstname.lastname@example.org|
Jushi Inc (“Jushi”) and its industry leading management team is building an integrated multi-state owner and operator of cannabis and hemp licenses across the United States. Jushi is focused on continuing to build a diverse multi-state portfolio of branded cannabis and hemp-derived assets through opportunistic investments and by internally pursuing licenses in attractive jurisdictions. Additionally, Jushi plans to launch a global medical division based on the MEND brand. Jushi strives to maximize shareholder value while delivering high quality products across all levels of the cannabis and hemp ecosystem.