3 Rivers Biotech and Endo Industries Enter into an Agreement to Bring Large-Scale Cannabis Tissue Culture Production and Cleanup to California
SAN FRANCISCO, CALIFORNIA, UNITED STATES, March 8, 2021 /EINPresswire.com/ — SAN FRANCISCO, CALIFORNIA and VANCOUVER, BC, March 8, 2021 – 3 Rivers Biotech (“3 Rivers“) and Endo Industries (“Endo”) are pleased to announce that the companies have entered into an agreement whereby 3 Rivers will supply Endo with the full suite of its innovative solutions, including plant health and integrated pest management services, as well as propagation through plant tissue culture.
Utilizing 3 Rivers’ unique virus detection and genetic fingerprinting services, in combination with its plant tissue culture propagation approaches, Endo will provide their elite genetics at scale, pathogen-free, to the California market.
The Endo platform is perfectly positioned to launch this superior product as it has over a decade of experience in supplying the biggest names in the California cannabis industry. The Endo operations are comprised of six vertically integrated Social Equity licenses, which include distribution, manufacturing, and nursery operations within three facilities in San Francisco, as well as supply arrangements with over 150 dispensaries. Endo’s current clone demand is 2 million plants per year, forecasted to grow to more than 5 million plants per year over the coming three years.
Since the beginning of the pandemic, the California cannabis market has seen a 156% sales growth as consumers lean on delivery services and cannabis for recreational and medical purposes. Currently, California is the largest and most mature cannabis market with sales at an annualized rate in excess of $4 billion. 3 Rivers and Endo are very excited for the opportunity to become the largest tissue culture cannabis nursery in California, leveraging the synergies between their respective skill sets and talents.
“The California cannabis industry is growing exponentially. However, the health and economic problems related to pathogens such as viruses and fungi are only beginning to be understood. This presents a real economic opportunity for 3 Rivers and Endo to not only test for pathogens in customers plants, but to remove them and be the first company to sell certified virus-free plants at scale to the market,” says Robert Allen, Co-founder and CEO of 3 Rivers Biotech. “Endo has a long-standing reputation for being a trusted and reliable nursery partner to the top breeders and cultivators and a strong, reliable, distribution network. We are very excited to partner with a leader in the industry to provide growers across California with the highest quality plants and proven varieties.”
Nancy Do, CEO of Endo Industries, added, “Endo has seen the devastating effects of virus and pathogens on the California cannabis industry for years. The access the agreement with 3 Rivers provides to their industry-leading suite of PTC based solutions, allows us to finally test for and clean up this problem. We believe this will position us as the premier supplier of disease-free, elite genetics across the State of California. We also recognize that producing clean stock plants is fundamental to being a successful California cannabis operator. Our long-term goals are strategic, values-driven, supportive, and collaborative with the rest of the supply chain. This agreement reflects that.”
About 3 Rivers
3 Rivers Biotech is a plant biotechnology company specializing in tissue culture to provide premium pathogen-free, pesticide-free, vigorous plants to cultivators and nurseries across the United States and Internationally. We eliminate the risks and variables of commercial cultivation by providing our customers with stable genetics and vigorous, disease-free clones. Our experienced team, with over 50 million plants supplied and counting, has been focused on perfecting plant propagation for decades. Our partnerships with existing large-scale tissue culture facilities provides us with the ability to scale and ship millions of plants globally. We are not breeders but work with industry-leading breeders to provide our partners with elite genetics across the entire horticultural industry. 3 Rivers has operations in Canada and the U.S. and intends expanding further across the globe. The Company also has a joint venture partnership with Australis Capital (CSE: AUSA) for the joint marketing of 3 rivers offerings to the AUSA network.
About Endo Industries
Endo Industries is building a risk-mitigation supply chain platform that helps operators scale brands grounded in social equity, diversity, and wellness through plant medicine. We accomplish our mission through data collection and collaboration from farmers growing our tissue culture plants and by providing procurement services for the development of reliable, verifiable California cannabis products.
Our team consists of passionate legacy, social equity members who have extensive networks in the deep-rooted cannabis industry in California and a comprehensive understanding of the supply chain. Endo is committed to supporting justice-impacted communities by providing employment and promoting minority ownership and upper management opportunities through professional development.
Forward Looking Information
This press release includes “forward-looking statements”, including forecasts, estimates, expectations and objectives for future operations that are subject to several assumptions, risks and uncertainties, many of which are beyond the control of 3 Rivers and/or Genie Lab. Investors are cautioned that any such statements are not guarantees of future performance and that actual results or developments may differ materially from those projected in the forward-looking statements. Such forward-looking information represents management’s best judgment based on information currently available. No forward-looking statement can be guaranteed, and actual future results may vary materially.
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