Vancouver, British Columbia--(Newsfile Corp. - May 22, 2019) - Canntab Therapeutics (CSE: PILL) (OTCQX: CTABF) (FSE: TBF1), a leading innovator in hard pill oral dose therapeutic cannabinoid and terpene blends, has received a cultivation licence from Health Canada to grow industrial hemp. Canntab intends to utilize the Hemp License to grow and cultivate its own supply of hemp biomass for the extraction of CBD and for the purpose of identifying high CBD strains to be used in future seasons.
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This will complement the company's business plan to manufacture CBD gel capsules for distribution through its partners in Canada, Australia and Mexico. In addition, Canntab intends to use part of this CBD oil in its manufacturing of its suite of cannabis hard pills.
The company has secured two properties to grow and cultivate industrial hemp. The first property, situated in Caledon, Ontario, will be operated in conjunction with the horticultural expertise of Thomas Elcome, with whom Canntab entered into supply agreements this past February. The second property located near Regina, Saskatchewan, will allow Canntab, together with a prominent Saskatchewan farming corporation, to cultivate hemp. The two properties have an approximate total capacity of 560 acres, and Canntab has secured off-take agreements.
Headquartered in Markham, Ontario, Canntab's manufacturing facility is located in FSD Pharma's Health Canada approved facility in the former Kraft plant in Cobourg, Ontario. Canntab also has a pending application to obtain a Cannabis Licence for processing and medical sales from Health Canada for its Markham, Ontario facility.
Upon receiving its Standard Processing Licence, Canntab intends to fully leverage both the Cobourg facility and its Markham facility for ongoing research and development, manufacturing and distribution through its growing network which currently includes Canada, Australia and Mexico.
Jeffrey Renwick, CEO, stated: "Today's news is another important milestone achieved by Canntab. We have now ensured a security of raw materials that we need for not only our oil filled gel capsules but ultimately our hard pill dosage forms. We also intend to apply for a Cannabis Drug License that will enable Canntab to conduct further research into making medical claims and develop and manufacture pharmaceutical grade cannabis derived dosage forms in a GMP environment."
Canntab has developed a suite of precision oral dose products which management believes are unavailable elsewhere in the marketplace. The company's 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.
For more information, please visit the company's website at www.canntab.ca, contact Jeffrey Renwick, CEO at 289-301-3812 or email email@example.com. For Business Development contact Frank Candido at 514-969-5530 or email firstname.lastname@example.org.
Investor Relations is handled by Jean-Francois Meilleur at Paradox Public Relations, who can be reached at 866-460-0408 or by email at email@example.com.
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