Vancouver, British Columbia--(Newsfile Corp. - May 31, 2019) - Canntab Therapeutics (CSE: PILL) (OTCQX: CTABF) (FSE: TBF1), a leading innovator in hard pill oral dose therapeutic cannabinoid and terpene blends, has signed a term sheet with Heritage Cannabis Holdings.
Under the Term Sheet, Canntab will provide hemp to Purefarma Solutions, a subsidiary of Heritage Cannabis Holdings, for the purpose of processing the hemp into high quality CBD oil. Canntab will transform the resulting oil into capsules for Heritage, FSD Pharma Inc., and further white labelling opportunities.
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The term sheet with Heritage will begin immediately, is open-ended, non-exclusive and may be cancelled by either party upon 120 days' notice.
Clint Sharples, CEO of Heritage Cannabis, stated: "This agreement with Canntab is a strategic fit for our growth as a contract service provider, aligns with our vision to operate in final product verticals and advances our offering in the medical cannabis sector."
Heritage, through its subsidiaries Voyage Cannabis Corp. and CannaCure Corp., holds 2 Health Canada approved production licenses. Working under these two licences, Heritage has two additional subsidiaries, Purefarma Solutions, which provides extraction services, and BriteLife Sciences which is focused on cannabis based medical solutions.
Jeffrey Renwick, CEO of Canntab, stated: "After recently announcing the receipt of our cultivation licence for industrial hemp from Health Canada, we are immediately entering into important agreements to generate both short term and sustained revenue for the company. Our ability to encapsulate allows us to generate revenue without losing our long term focus on becoming the leading supplier of hard pill oral dose cannabinoid and terpene blends in the world."
Canntab is engaged in the research and development of advanced, pharmaceutical-grade formulations of cannabinoids and terpenes in a variety of timed-release dosages, including extended release, immediate release and flash melt. In doing so, Canntab has developed a suite of precision oral dose products that are unavailable elsewhere in the marketplace. Their proprietary hard pill cannabinoid formulations will provide doctors, patients and the general consumer with a medical grade solution with all the features you would expect from any prescription or over the counter medication
Canntab, headquartered in Markham, currently operates out of Cobourg, Ontario with its strategic partner, FSD Pharma Inc. FSD Pharma's facilities, the former Kraft plant, sit on 70 acres of land with 40 acres primed for development with an expansion plan of up to 3,896,000 square feet by 2025. FSD's wholly owned subsidiary, FV Pharma, a licensed producer plans to transform this property into the largest hydroponic indoor grow facility in the world.
Canntab is awaiting approval from Health Canada for a Cannabis Licence at its Markham, Ontario facility. Upon receiving its Standard Processing Licence, Canntab intends to fully leverage both the Cobourg facility and its Markham facility for manufacturing and distribution through its growing network which currently includes Canada, Australia and Mexico.
For more information, please visit the company's website at www.canntab.ca, contact Jeffrey Renwick, CEO at 289-301-3812 or email firstname.lastname@example.org. For Business Development contact Frank Candido at 514-969-5530 or email email@example.com.
Investor Relations is handled by Jean-Francois Meilleur at Paradox Public Relations, who can be reached at 866-460-0408 or by email at firstname.lastname@example.org.
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