TORONTO , Feb. 24, 2020 /CNW/ - Canntab Therapeutics Limited (CSE:PILL.CN)(OTCQB:CTABF) (FRA:TBF1.F) (the "Company" or "Canntab"), the leading innovator in cannabinoid and terpene blends in hard pill form for therapeutic application, is pleased to announce that Health Canada has granted the Company a Cannabis Research Licence for the purpose of continuing research and development of the Company's growing line of next generation medical cannabis solutions at the Company's Markham Ontario Facility.
Canntab intends, following receipt of a Standard Processing Licence and Sale for Medical Purposes Licence from Health Canada (the "Additional Licences"), to produce various hard pill oral delivery formulations including extended release, instant release, and bi-layered hard pills that provide patients and practitioners with a highly bioavailable medical solution with accurate dosing. The Additional Licences will enable Canntab to submit Notice of New Cannabis Products (NNCP) to Health Canada.
"Our Cannabis Research Licence will allow us to be prepared for when we receive our Standard Processing Licence and Sale" for Medical Purposes Licence, which we expect to receive shortly, by allowing us to do research and testing. Once we obtain our Standard Processing Licence and Sale for Medical Purposes Licence, we will have products ready for distribution and sale, explains Jeff Renwick , co-founder and CEO of Canntab. Mr. Renwick continues, "our facility is fully built-out and we are excited to prepare our final formulations for submission. We are equally excited with the prospect of continuing research and development in full force at our Markham facility, beginning with our proprietary Oral Dissolvable Tablet formulations which enter through the buccal cavity in the patient's mouth."
About Canntab Therapeutics
Canntab Therapeutics Ltd. is a Canadian company with operations in Canada . Canntab has also established a wholly owned US subsidiary through which we will operate our business in the United States . Upon our receipt of LP Status from Health Canada, Canntab will begin full-scale manufacturing of its suite of precision oral dose products that are unavailable elsewhere in the marketplace, namely, formulations in multiple doses and time release combinations. Additionally, Canntab through its wholly owned American subsidiary operate Canntab's manufacturing and distribution business in the United States , with the Company's partner Exactus Inc.
Canntab's proprietary hard pill medical cannabis formulations will provide doctors, patients and consumers with medical grade solutions which incorporate all the features one would expect from any prescription or over the counter medication sold in Canadian pharmacies.
Canntab trades on the Canadian Securities Exchange under the symbol PILL, on the OTCQB under the symbol CTABF, and on the Frankfurt Stock Exchange under the symbol TBF1.
Neither the Canadian Securities Exchange nor its Market Regulator (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
Certain information in this press release constitutes forward-looking statements under applicable securities laws. Any statements that are contained in this news release that are not statements of historical fact may be deemed to be forward-looking statements. Forward-looking statements are often identified by terms such as "may", "should", "anticipate", "expect", "potential", "believe", "intend" or negatives of these terms and similar expressions. Forward-looking statements are based on certain assumptions, including successful receipt of the Additional Licences, the approval by Health Canada of the Company's Notice of New Cannabis Products, and general business, economic, competitive, political and social uncertainties will not prevent the Company from conducting its business. While Canntab considers these assumptions to be reasonable, based on information currently available, they are inherently subject to significant business, economic and competitive uncertainties and contingencies and they may prove to be incorrect. Readers are cautioned not to place undue reliance on forward-looking statements. Forward-looking statements also necessarily involve known and unknown risks, including without limitation, risks associated with Health Canada not approving the Company's application for a new licence or Notice of New Cannabis Products, general economic conditions, adverse industry events, marketing costs, loss of markets, future legislative and regulatory developments, the inability to access sufficient capital on favourable terms, the medical and recreational cannabis industry in Canada in general, income tax and regulatory matters, the ability of Canntab to execute its business strategies, competition, crop failure, currency and interest rate fluctuations and other risks. Readers are cautioned that the foregoing is not exhaustive. Readers are further cautioned not to place undue reliance on forward-looking statements as there can be no assurance that the plans, intentions or expectations upon which they are placed will occur. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ from those anticipated. Forward-looking statements are not guarantees of future performance. Except as required by law, Canntab disclaims any obligation to update or revise any forward-looking statements, whether as a result of new information, events or otherwise. Forward- looking statements contained in this news release are expressly qualified by this cautionary statement.
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SOURCE Canntab Therapeutics Limited
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