TORONTO, Nov. 14, 2018 (GLOBE NEWSWIRE) -- Canntab Therapeutics Limited (CSE: PILL, FSE: TBF1) (“Canntab” or the “Company”) is a company with a clear vision of becoming the leader in solid oral dosage formulation of cannabis. Their unique products offer advantages to the medical community, patients, adult use consumers and governments. Canntab is pleased to provide this corporate update to its shareholders.
- An excellent capitalized structure of approximately 28.6M shares outstanding on a fully diluted basis with no need for short term financing of its business plan.
- A strong intellectual property portfolio with 13 patents pending in the United States and Canada pertaining to the formulation of tablets including instant release, extended release, flash melt and bi-layered. The products will be available in 2.5g, 5g and 10g tablets.
- An application to become a Licensed Producer (Non Grower) under the Access to Cannabis for Medical Purposes Regulations and has confirmation from Health Canada that its application had been received.
- A notice that it is now a part of the Composite Index of the Canadian Securities Exchange as part of their quarterly rebalancing.
- Reaching a milestone in its development of a patent-pending oral extended release formulation for cannabinoids in collaboration with Emblem Corp. (TSXV: EMC, OTCQX: EMMBF). Dissolution testing indicated that the Extended Release Tablets released cannabinoids consistently over a 12-hour period. Given these positive test results, Canntab is manufacturing pivotal batches of these tablets for further clinical testing. This will lead to the filing of dossiers with regulatory agencies around the world for approval of Canntab’s unique solid oral dose delivery systems.
- Health Canada’s approval of Canntab’s ‘420 Therapeutics’ brand of Cannabis wellness products. These capsules are made with purified organic hemp seed oil and are an easy and convenient way to enjoy the health benefits of hemp oil. This is an important milestone achievement for Canntab in their move towards manufacturing full spectrum hemp derived CBD.
- Announcement of the signing of a non-binding Letter of Intent with NewCanna S.A.S of Bogota, Colombia for the establishment of a significant bi-lateral relationship covering the sale and distribution of Canntab’s products in Colombia, Chile, Paraguay and Spain with a one-time, non-refundable license fee ($2 million US) payable to Canntab by NewCanna.
- Announcement of the signing of a non-binding Letter of Intent with Labsco Promedic SA for the establishment of a joint venture relationship covering, on an exclusive basis, the sales and distribution of Canntab products in Mexico.
Jeff Renwick, CEO of Canntab Therapeutics Ltd., says, “In our short history on the public markets, Canntab has already reached a number of significant milestones. Canntab is leveraging its first mover advantage and developing an important IP portfolio to actively pursue other high-level discussions for partnerships with industry leaders. CBD and THC in tablet form is an important category with few worldwide players at this time and Canntab believes that it is well positioned to build significant shareholder value by aggressively pursuing these opportunities.”
Canntab Therapeutics Limited is a Canadian cannabis oral dosage formulation company based in Markham Ontario, engaged in the research and development of advanced pharmaceutical grade formulations of cannabinoids. Canntab has developed patented technology to deliver standardized medical cannabis extract from selective strains in a variety of extended/sustained release pharmaceutical dosages for therapeutic use. In doing so, Canntab has developed a suite of precision oral dose products that are unavailable elsewhere in the marketplace. Canntab’s primary focus is on providing cannabis-based products to medical professionals that can be used to deliver therapeutic treatments to their patients.
FOR ADDITIONAL INFORMATION, PLEASE CONTACT:
Canntab Therapeutics Limited
Richard Goldstein, CFO
Office: 416 957-6303
Certain statements included in this press release constitute forward-looking information or statements (collectively, “forward-looking statements”), including those identified by the expressions “anticipate”, “believe”, “plan”, “estimate”, “expect”, “intend”, “may”, “should” and similar expressions to the extent they relate to the Company or its management. The forward-looking statements are not historical facts but reflect current expectations regarding future results or events. This press release contains forward looking statements. These forward-looking statements are based on current expectations and various estimates, factors and assumptions and involve known and unknown risks, uncertainties and other factors. Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be anticipated, estimated, or intended.
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