Green Cures Inks Lease For New Retail and Manufacturing Facility
Green Cures & Botanical Distribution Inc. (OTC: GRCU) has inked a lease for its new retail and manufacturing facility.
The Los Angeles-based company said that the new facility would serve as a production and retail center for Green Cures products.
In addition, Green Cures closed its San Luis Obispo, California-based facility.
Currently, the company is in the process of the built-out of the retail end of the facility.
The company said it's pawing its way toward obtaining permits to manufacture CBD/Hemp beauty, food, and beverage products.
Rich Thomas, Green Cures' CEO, said Thursday that this is a "monumental event" for the company.
He explained that their production facility would be "open to the public for all to witness the highest of standards employed in producing our unique and innovative CBD products."
The company noted it intends to expand its team by hiring a master formulator and product development team focused on CBD and hemp products.
The new location would allow Green Cures to maximize their profit margins and "eliminate middle layers of distributions," while selling directly to the customers, added Thomas.
Meantime, the company debuted in the California cannabis market just a month ago, by acquiring cannabis brand Clearly California Products.
© 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.