Global Consortium, Inc., (OTCPINK: GCGX) is currently constructing the first-ever cannabis mall, believed to become the largest manufacturing facility in the country, and has just released that there has been tremendous progress on the construction of the facility, and that operations are ready to begin in early September.
This is great news, as GCGX aims to commence the registration process for listing on the Nasdaq, with a target date of the end of 2019.
Their 64,000-square-foot facility is located in Sacramento, California, and will house manufacturing, distribution, delivery, retail, testing and cultivation operations all under one roof, and will be home to the largest operational CBD and THC distillate and edible manufacturing facility in the country. The mall will offer products manufactured in house, as well as serving outside cannabis vendors.
The facility is almost complete, and has already passed inspection on Plumbing, Concrete, Fire, and others. The final step is to install their Co2 Exhaust system, which will allow the city to finalize inspections on the rest of the building. The space should be ready by Friday August 30, 2019 for inspection.
Upon passing, the Certificate of Occupancy will be issued, allowing one of their subsidiaries Indulge Oils to begin manufacturing its THC products for sale. Shortly after, plans will begin to move another subsidiaries, Infused Edibles, into the building to produce THC infused products.
Sacramento (and California as a whole) is obviously a huge market for the company to supply to, however they are also planning on targeting Lake Tahoe, Nevada and establishing itself as one of the first and only providers in the recreational space there. With no recreational dispensaries and the more than 30 million people who live and visit there, GCGX is primed to take over massive market share their very quickly with initial weekly orders worth a minimum of $50,000 right off the bat, and that is just one market they will be targeting.
Headquartered in Florida, Global Consortium Inc. (OTC: GCGX) is a diversified, cannabis-holding company expanding its reach nationwide. The company’s portfolio includes several subsidiaries, partnerships and licensing agreements. Focused on sustainable revenues from operations, GCGX’s approach is seed to shelf, thereby providing the company with optimal control of the end-consumer experience. The company believes that the first to market will dominate and is pushing its way to the forefront.
The Global Consortium product line currently consists of Infused Oils and Infused Edibles. The company’s Infused Oils line creates natural, pesticide-free, medicinal cannabis extracts that are strain-specific THC and CBD oils of premium quality. In its 13 years of production, the company’s Infused Edibles line has received 17 first-place awards for its U.S.-grown and CBD-infused products and currently serves an estimated 400 stores in 15 states. The production of all edibles is expected to relocate by the end of Q2 2019 to the new cannabis mall.
The company also recently announced that it is adding a medical grade nutraceutical division. Products produced from this division will be overseen by medical doctors and veterinarians, and they may include lotions, balms, ointments, liquids, pills and powders. While some products will be made available to the public, others will be white labeled for customization to providing doctors’ practices.
During a recent investor conference call, GCGX CEO Matthew Dwyer also emphasized the company’s goal to begin the registration process for being listed and traded on the Nasdaq by the end of the year.
For more information, visit the company’s website at www.GCGX.org