Corix Bioscience Inc. to Purchase 46,060 Square Foot Research Facility
October 05 2017 - 7:33AM
InvestorsHub NewsWire
October 05, 2017 07:00 ET
PHOENIX, AZ--(NewMediaWire - Oct 5, 2017) - Corix Bioscience
Inc. (OTCQB: CXBS) has entered into a contract to purchase a
46,060 square foot building in Carson City, Nevada. Closing is
expected to occur on or before November 4, 2017. Purchase price for
the building was finalized at $1,300,000.
The building will serve as Corix Bioscience's new research and
development laboratory with an indoor grow facility specifically
for their industrial hemp genetics. Genetics of industrial hemp and
cannabis is the core of Corix's business.
Michael Ogburn, CEO of Corix Bioscience, stated: "This will
change the landscape of the new industrial hemp and CBD market
drastically. Right now, farmers are scrambling trying to fill seed
and flat orders for next year; this already has us sold out for
spring 2018. At current market prices, this will add about $12
million in revenue. Our genetics from 6 years of breeding has us as
not only one of the top genetic suppliers in the industry, but our
industrial hemp genetics are one of the most demanded."
The facility will have distinguished plant breeding rooms where
plants are cross-bred to develop new strains of industrial hemp.
Ogburn went on to state, "Our focus in the plant breeding is to
develop certain strains that are high in specific cannabinoids and
possibly low in others. For instance, we are working on certain
genetics to naturally increase THCV levels in our plants which is a
natural appetite suppressant to help fight obesity and diabetes, or
CBN which is an all-natural sleep aide."
The facility will also have 27,000 square foot of grow area for
seed harvest in the first known "indoor CBD grow." Corix Bioscience
plans to be up and running with their first crop planted by
December 1, 2017. In anticipation, Corix Bioscience has registered
to do business in Nevada.
About Corix Bioscience Inc.
Corix Bioscience Inc. ("Corix") is a Wyoming corporation and is
fully reporting with the SEC and is listed as OTCQB:
CXBS. Corix is the developer of proprietary cannabis and
industrial hemp strains using tissue cell cultures to propagate
living plants, with plans to patent the strains to be used in the
pharmaceutical medical industries.
Our methods allow us to create and breed new and existing plant
strains from tissue cells free of any pathogens or disease. We grow
these plants to maturity and extract the oils which are the
"medicine" part of the plant. Our sales are focused towards the
medical industry and we are developing brand named products to be
released in early 2018.
Corix's headquarters is located in Phoenix, Arizona with
laboratory and processing facility in Carson City, Nevada and
fields for growing the plants in Genoa, Nevada. We are
currently looking at expanding our footprint into Washington,
Oregon, California and Arizona. The Company's mission is to create
clean and consistent products in medical grade
facilities. Consistency being the key which will ultimately
yield a safer and superior product, better for people and the
environment. For more information, please visit Corix's website
at www.corixbioscience.com
CONTACT INFORMATION
Michael Ogburn
623-551-5808
CFroese@CorixBioscience.com
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