Business
Gala Pharmaceutical Files State License Application for Testing Facility
Gala Pharmaceutical Files State License Application for Testing Facility.
About this update from Greengro Technologies, Inc.
[{"type":"text","content":"\nIRVINE, Calif., Dec. 07, 2018 (GLOBE NEWSWIRE) -- Gala Pharmaceutical, Inc. (Ticker: GLPH), a robust and burgeoning Analytical testing company, today announced notable progress toward opening its doors and serving its rapidly growing market.\n The Company’s application to operate a TYPE 8 Medical Cannabis Testing Lab has been deemed complete by the City of Long Beach and, through its subsidiary, Gala Pharmaceutical California, Inc., has filed for its California state license. In addition, Gala has submitted the application for its building permit. The Company believes that California’s stringent cannabis testing regulations, which have rolled out in phases throughout 2018 via the Bureau of Cannabis Control, have created a highly favorable business environment in which to establish and expand its services. Cannabis testing laboratories are responsible for ensuring safety and consistency in the recreational and medicinal cannabis available to consumers and patients. Labs test for analysis of potency, residual pesticides, heavy metals, microbial contamination, residual solvents, moisture content, and foreign contaminants. Industry experts say the current bottleneck in the cannabis industry is caused by the lack of sufficient facilities to keep up with demand for testing. Gala Pharmaceuticals CEO Dr. Rehman is enthusiastic about filling this void. “Quite simply, there is an undeniable lack of certified labs in the state of California,” he says. “We have an incredible team that is ready, willing and entirely able to provide this eager market with exactly what it needs to meet its potential. With about 40 million California residents and already over one million registered medical patients, we are confident in our ability to help move this industry forward.” Analysts at Cowen & Company predict the nation's legal cannabis industry could reach $50 billion by 2026, with California responsible for an estimated $25 billion of that market. “We have an incredible opportunity here,” Rehman continues. “Testing labs is one aspect of the industry that is not saturated.” Toward that end, Gala Pharmaceuticals has partnered with GreenGro Technologies (Ticker: GRNH), a developer of eco-friendly greenhouses, and igot420distribution, a networ...