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LONG BEACH, Calif. and TORONTO, April 09, 2025 (GLOBE NEWSWIRE) -- Glass House Brands Inc. ("Glass House" or the "Company") (CBOE CA: GLAS.A.U) (CBOE CA: GLAS.WT.U) (OTCQX: GLASF) (OTCQX: GHBWF), one of the fastest-growing, vertically integrated cannabis companies in the U.S., today announced a collaboration with the University of California, Berkeley, to explore hemp-related research, including novel medicinal product development, identification and improvement of hemp genetics, market analysis, supply chain sustainability, and AI automation for cultivation and production.
In addition, the collaboration aims to evaluate data-driven and evidence-based approaches to hemp policy and regulation, with the aim of reducing uncertainty for California hemp growers. This collaboration will explore potential drug development research opportunities targeting coronaviruses, pain, sleep, inflammation, and cirrhosis.
In 2024, Glass House obtained a hemp license and has been actively growing and testing hemp on an R&D basis. Within the Company’s dedicated hemp R&D greenhouse, Glass House has the capacity to produce up to 240,000 pounds of biomass annually.
“We are excited to work with UC Berkeley as we continue to evaluate our long-term hemp strategy. This is the first collaboration of its kind in this industry, and Berkeley has a successful history of assisting industry stakeholders to find innovative and sustainable solutions to environmental issues. We are confident that through this agreement, we will be better positioned to navigate the local and national legislative uncertainty for the hemp industry as we prepare to scale the business into the future,” said Kyle Kazan, Co-Founder, Chairman and CEO of Glass House Brands. “Furthermore, we appreciate that the premier public university in California is supporting this sector of the agricultural industry, which is substantial in our state. We have the capacity to be one of the largest hemp cultivators in the United States, so we are excited to explore the potential benefits of this collaboration for farmers, the industry and for the state of California. We believe that the demand for hemp-derived products nationally is massive. Pending future developments with the Federal Farm Bill and regulatory changes that align at the state level, we are confident that opportunities to scale to the national market will manifest.”
Orrin Devinsky, MD, Glass House’s Medical and Science Advisor to the Board of Directors and a Professor of Neurology, Neuroscience and Psychiatry, who was the lead investigator in the studies on cannabidiol leading to FDA approval said, “As a long-time proponent of cannabinoids for treatments, I’m excited to collaborate with the research faculty at UC Berkeley to explore the development of new treatments to improve the quality of life for many with disabling disorders.”
About Glass House Brands
Glass House is one of the fastest-growing, vertically integrated cannabis companies in the U.S., with a dedicated focus on the California market and building leading, lasting brands to serve consumers across all segments. From its greenhouse cultivation operations to its manufacturing practices, from brand-building to retailing, the Company's efforts are rooted in the respect for people, the environment, and the community that co-founders Kyle Kazan, Chairman and CEO, and Graham Farrar, Board Member and President, instilled at the outset. Whether it be through its portfolio of brands, which includes Glass House Farms,PLUS Products,Allswell and Mama Sue Wellness or its network of retail dispensaries throughout the state of California, which includes The Farmacy, Natural Healing Center and The Pottery, Glass House is committed to realizing its vision of excellence: outstanding cannabis products, produced sustainably, for the benefit of all. For more information and company updates, visit www.glasshousebrands.com/ and https://ir.glasshousebrands.com/contact/email-alerts/.
Forward Looking Statements
This news release contains certain forward-looking information and forward-looking statements, as defined in applicable securities laws (collectively referred to herein as "forward-looking statements"). Forward-looking statements reflect current expectations or beliefs regarding future events or the Company's future performance or financial results. All statements other than statements of historical fact are forward-looking statements. Often, but not always, forward- looking statements can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "continues", "forecasts", "projects", "predicts", "intends", "anticipates", "targets" or "believes", or variations of, or the negatives of, such words and phrases or state that certain actions, events or results "may", "could", "would", "should", "might" or "will" be taken, occur or be achieved. Forward-looking statements in this news release include, without limitation, statements regarding the Company's financial outlook or operational plans and statements related to future market conditions. All forward-looking statements, including those herein, are qualified by this cautionary statement. Although the Company believes that the expectations expressed in such statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the statements. Accordingly, readers should not place undue reliance on forward-looking statements. There are certain factors that could cause actual results to differ materially from those in the forward-looking information, including those risks disclosed in the Company's Annual Information Form available on SEDAR+ at www.sedarplus.ca and in the Company's Form 40-F available on EDGAR at www.sec.gov. For more information on the Company, investors are encouraged to review the Company's public filings on SEDAR+ at www.sedarplus.ca. The forward-looking statements in this news release speak only as of the date of this news release or as of the date or dates specified in such statements. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.
For further information, please contact:
Glass House Brands Inc. Jon DeCourcey, Vice President of Investor Relations T: (781) 724-6869 E: ir@glasshousebrands.com
