LAS VEGAS, June 10, 2014 /PRNewswire/ -- GrowBLOX Sciences, Inc. (OTCQB: GBLX), a biotechnology and research company, today announced that The Company has secured a letter of intent with First Security Bank of Nevada for the purpose of managing the currency and banking flow of The Company's operating facilities.
First Security Bank of Nevada offers an array of financial services for the local and business community and has agreed to work in conjunction with our Nevada project to ensure accuracy and consistency with all local, state and federal banking laws. GrowBLOX Sciences is in strict compliance with Nevada laws and regulations and operates with the utmost compliance integrity. It is The Company's goal to surpass the needs of the medical marijuana community and by securing First Security Bank of Nevada, has positioned itself to do just that.
"We are excited to have created this agreement with First Security Bank of Nevada. It allows us to fill an integral link that is missing in this industry. By eliminating the 'cash only' aspect of this business with our kiosk systems and our alliance with First Security Bank of Nevada, we will be able to better secure our operational functions in such a way that patients and staff can feel more ease," said Steven Weldon, CFO, GrowBLOX Sciences.
GrowBLOX Sciences seeks to eliminate the high-cash transactions that stem from the sale of medical marijuana by implementing cash kiosk systems. The kiosk system allows for every dollar to be captured, secured and tracked, allowing for accuracy and safe measures. In conjunction with our agreement with First Security Bank of Nevada, The Company believes it has afforded the industry a new perspective in how the financial framework can be structured in this emerging industry.
For more information on GrowBLOX Sciences, please visit http://www.gbsciences.com.
For more information on First Security Bank of Nevada, please visit http://www.firstsecuritybanknv.com.
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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SOURCE GrowBLOX Sciences, Inc.