GrowLife, Vape Holdings announce joint venture to fund and develop processes for cannabis extractions

Each company will bring its specific expertise to the joint venture; GrowLife providing equipment manufacturing while Vape Holdings provides guidance for the process technology and concentrate formulas.

Cannabis extractions are a rapidly growing market segment of the legal cannabis market, and believed by many, including the partners, to be a significant part of the future of cannabis as consumers transition from the carcinogens often included with historical methods of drug delivery, to the more modern, safer, and efficient systems reliant on cannabis extracts.

To that end, the partners in the joint venture are intent on introducing medical, food and pharma grade practices into the cannabis industry; from cultivation to extraction to delivery.

The joint venture looks to service a void in the industry with regard to SOPs (standard operating procedures) and GMPs (good manufacturing practices), which are instrumental in all regulated food and pharma grade production/manufacturing.

GrowLife CEO Sterling Scott noted while the company is pleased that Dr. Gupta’s recent and excellent feature on cannabis medicine in Weed 2 showcased to many the value and benefits of cannabis extractions and concentrates, it has been working for some time to establish practices and products ready for this growing market sector.

"We have been advocates for cannabis-as-medicine via efforts such as our own Cannabis.org, and Mr. Tracey has devoted his career to developing better and more efficient means of drug delivery," Scott added.

The parties have agreed to negotiate the terms of a joint venture agreement and other ancillary agreements as may be necessary to effectuate the intent of the parties. It is the intention of the parties to execute a definitive joint venture agreement on or before 20 April 2014.