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Applied BioSciences $APPB Subsidiary Enters into Contract for Services with Washington State Department of Agriculture $CGRW $ $GBLX $PFE $ $ $ $ $

Posted by AGORACOM at 8:35 AM on Tuesday, August 27th, 2019
  • Trace Analytics Inc. is a Leading Cannabis Science and Technology Company with Significant Footprints in Lab Testing, Research and Development and Licensing

BEVERLY HILLS, CA / ACCESSWIRE / August 27, 2019 / Applied BioSciences Corp. (OTCQB:APPB) (“Applied” or the “Company”), a vertically integrated company focused on the development of science-driven cannabinoid biopharmaceuticals and the production of high-quality CBD products, today announced that its majority owned subsidiary, Trace Analytics Inc., entered into a contract for services with the Washington State Department of Agriculture (WSDA) on July 24, 2019. This contract will include testing Industrial Hemp samples and include percentage testing for post-decarboxylation delta 9-tetrahydrocannabidiol (THC) and delta 9-tetrahydocannabinolic acid (THC-A).

The WSDA has contracted Trace Analytics for the purpose of doing cannabinoid profiling for the State’s industrial hemp program to ensure the percentages of certain cannabinoids are below Federal limits.

“We are grateful to the WSDA and to have been chosen as the sole laboratory in Washington State to do cannabinoid profiling for the WSDA’s Industrial Hemp program. We believe this contract provides us with the significant opportunity to bolster and diversify our testing portfolio into industrial hemp and we hope to be able to partner with the agency for a long time to come,” commented Jason Zitzer, Chief Operating Officer of Trace Analytics. “Throughout the drafting, writing and ratification of the Washington State Hemp Bill, Trace Analytics has been an integral part of the process in working with the industry groups. We submitted all of the paperwork and submitted the hemp processors application along with a detailed site map to the WSDA for lab testing licensing consideration. We have already begun receiving samples and reporting results and to date, the program has gone extremely well.”

Trace Analytics Inc. is a leading cannabis science and technology company with significant footprints in lab testing, research and development and licensing. Trace Analytics was started by a group of scientists who specialized in analytical chemistry, genetics and molecular biology. The focus of the team is to ensure compliance with public safety standards and end user safety. Trace Analytics is in the process of expanding throughout the United States, and globally. With the goal of helping the rest of the world adopt “best practices” in cannabis and hemp testing, the Company also provides expert consulting services to legislators and regulators in many countries, states and municipalities around the world.

About Applied BioSciences Corp.

Applied BioSciences is a vertically integrated company focused on the development of science-driven cannabinoid therapeutics / biopharmaceuticals and delivering high-quality CBD products as well as state-of-the-art testing and analytics capabilities to our customers. For more information, visit the Company’s website.

Safe Harbor Statement

Except for historical information contained herein, statements in this release may be forward-looking and made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Words such as “anticipate”, “believe”, “estimate”, “expect”, “intend” and similar expressions, as they relate to Applied Biosciences Corp. (the “Company”) or its management, identify forward-looking statements. These statements are based on current expectations, estimates and projections about the Company’s business based, in part, on assumptions made by management. These statements are not guarantees of future performance and involve risks, uncertainties and assumptions that are difficult to predict. Therefore, actual outcomes and results may, and probably will, differ materially from what is expressed or forecasted in such forward-looking statements due to numerous factors, including those described above and those risks discussed from time to time in the Company’s filings with the Securities and Exchange Commission. Factors which could cause actual results to differ materially from these forward-looking statements include such factors as (i) the development and protection of our brands and other intellectual property, (ii) the need to raise capital to meet business requirements, (iii) significant fluctuations in marketing expenses, (iv) the ability to achieve and expand significant levels of revenues, or recognize net income, from the sale of our products and services, (v) the Company’s ability to conduct the business if there are changes in laws, regulations, or government policies related to cannabis, (vi) management’s ability to attract and maintain qualified personnel necessary for the development and commercialization of its planned products, and (vii) 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.

Investor and Media Contact:

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(833) 475-8247

SOURCE: Applied BioSciences Corp.

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