World News: 13:30 GMT Friday 7th December 2018. [Gala Pharmaceutical Inc. via Globe Newswire via SPi World News]
IRVINE, Calif., Dec. 07, 2018 (GLOBE NEWSWIRE) -- (Ticker: GLPH), a robust and burgeoning Analytical testing company, today announced notable progress toward opening its doors and serving its rapidly growing market.
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 , 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 (Ticker: GRNH), a developer of eco-friendly greenhouses, and , a network of distribution centers connecting farms and manufacturing labs to licensed medical and recreational dispensaries. Under the terms of the agreements, the three companies have developed joint sales, marketing and distribution strategy that will collectively establish them as a true vertically integrated solution provider for the cannabis industry.
Further, this alliance will boost demand for Gala Pharmaceutical’s testing facilities, paving the way for medical research and clinical trials. “The team we have in place allows us to move forward with unshakable credibility and better serve the people who will come to rely on us,” concludes Rehman.
To be added to Gala Pharmaceutical’s investor lists, please contact Bill Miller at 844-565-5665 or via email at .
Gala Pharmaceutical Inc.18881 Von Karman Ave Suite 1440Irvine, California 92612
Media Contact:Eva Silva818.388.1421
Globe Newswire: 13:30 GMT Friday 7th December 2018
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