Next Gen Metals (CSE:N, Stock Forum), a Vancouver-based firm already known for the creation of the world's first education and investment conference on medical marijuana, industrial hemp and alternative medicines, launched its second 100%-owned subsidiary, GreenRush Analytical Labs (“GAL”) to provide analytical services to the legalized cannabis industry.
Now that 21 states have legalized the use of medical marijuana and two states have seen fit to okay toking for fun, customers and regulatory bodies are looking to the once varied industry for sector-wide quality control and enforced safety guidelines.
Next Gen Metals hoped to dominate another niche in the emerging sector with its newest subsidiary and according to the news release, GAL has been putting together a team of scientists and laboratory technicians to carry out product analysis in anticipation of additional standards for licensed producers that require more detailed quality control and quality assurances from said growers.
GAL intends to meet the growing demands of this particular facet of the MMJ and legalized marijuana sector with its testing geared to cover adherence to Health Canada requirements, patient and consumer safety and limited liability for licensed producers.
Company president and CEO, Harry Barr, commented on GAL's potential boon to investors, “In Canada; new federal laws (April 1st 2014) allowed for Licensed Producers to establish new legal Marijuana grow up operations to produce Marijuana. To that end, and as of today, there are currently thirteen Licensed Producers in Canada and over 650 applications in progress.”
Then he concluded, “This unpredicted growth in this new multi-billion dollars industry has allowed the directors and management of Next Gen to provide an increasing number of financial solutions for the Medical Marijuana and Industrial Hemp industries.”
In other news, GreenRush Financial Conferences' upcoming investment and education conference scheduled for Wednesday May 7, 2014 at the Vancouver Convention and Exhibition Centre East, will host an expert panel including Stockhouse's own guru of green, Chris Parry, who has been writing about the sector since the MMJ crazy train left the station.
Next Gen Metals was in the news recently when the company welcomed all attendees to the aforementioned history-making gathering of financial and medical minds.
Currently there are 17.4m outstanding shares with a market cap of $4.1 million.