Vancouver, British Columbia--(Newsfile Corp. - February 25, 2020) - Canntab Therapeutics (CSE: PILL) (OTCQX: CTABF) (FSE: TBF1), a leading innovator in cannabinoid and terpene blends in hard pill form for therapeutic application, has been granted a Cannabis Research Licence by Health Canada. The research licence will allow Canntab to receive oil and continue research and development of the company's growing line of next generation medical cannabis solutions at the company's Markham Ontario Facility.
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With headquarters and R & D located in Markham, the company also operates out of Cobourg, Ontario where it has co-location and profit sharing agreements with its strategic partner, FSD Pharma Inc. (CSE: HUGE), a holder of both cultivating and processing licenses.
On December 23rd, Health Canada confirmed receipt of Canntab's Site Evidence Package, to begin the final process for Canntab to obtain non-growing LP Status for its Markham Facility. Upon 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.
Canntab intends, following receipt of its Standard Processing Licence and Sale for Medical Purposes Licence from Health Canada 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 also enable the company to submit Notice of New Cannabis Products to Health Canada.
Due to its extensive inventory of machinery and equipment, Canntab can produce these unique products with relatively minimal capital expenditure requirements therefore positioning the company to maintain high gross profit margins. Additionally, the company through its new wholly owned American subsidiary will operate the company's manufacturing and distribution business in the United States, with the company's partner Exactus Inc, for the manufacture of a CBD hard pill in formulations for sale and distribution across the United States.
Jeff Renwick, co-founder and CEO, stated: "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. 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."
The company is currently closing a private placement of $0.50 units, with part of the proceeds directed to a trial with the University of British Columbia to research the effect of opioid sparing high formulation with Canntab's bi-layered CBD/THC controlled release formulations for post-operative pain care.
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