– Canntab Makes Progress Towards Becoming Revenue-Generating in 2019 –
TORONTO–(BUSINESS WIRE)–Canntab Therapeutics Limited (CSE:PILL.CN)
(OTCQX:CTABF)
(FRA:TBF1.F) (the “Company” or “Canntab“), the
leading innovator in hard pill oral dose therapeutic cannabinoid and
terpene blends, is pleased to announce that it has signed a term
sheet with Heritage Cannabis Holdings Corp. (CSE:CANN) (“Heritage“)
for the purpose of capsule manufacturing (the “Term
Sheet“).
Under the Term Sheet, Canntab will provide hemp to Heritage’s subsidiary
Purefarma Solutions (“Purefarma“) for the purpose of
processing that hemp into high quality CBD oil. The oil will then be
transformed into capsules by Canntab for Heritage, FSD Pharma Inc. (CSE:HUGE),
and further white labelling opportunities. The term sheet with Heritage
will begin immediately, is open-ended, non-exclusive and may be
cancelled by either party providing 120 days’ prior notice.
“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.” states Clint Sharples, CEO of Heritage.
“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,” states Jeff Renwick, co-founder and Chief Executive Officer
of Canntab Therapeutics Limited.
Canntab’s application is currently “In Progress” to obtain a Cannabis
Licence (Processing- Standard, Federal Sales – Medical) from Health
Canada at its Markham, Ontario facility. Canntab currently operates out
of Cobourg, Ontario with its strategic partner, FSD Pharma Inc. 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.
About Canntab Therapeutics Limited
Canntab Therapeutics Ltd. is a Canadian company 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. Our 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
trades on the Canadian Securities Exchange under the symbol PILL, on the
OTCQX Best Market under the symbol CTABF, and on the Frankfurt Stock
Exchange under the symbol TBF1.
About Heritage Cannabis Holdings Corp.
Heritage is focused on becoming a vertically integrated cannabis
provider that currently has two Health Canada approved licenced
producers, through its subsidiaries Voyage Cannabis Corp.
and CannaCure Corp. both regulated under the Cannabis Act Regulations.
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. Heritage as the parent company, is focused on providing the
resources for its subsidiaries to advance their products or services to
compete both domestically and internationally.
About FSD Pharma
FSD Pharma is focused on the development of the highest quality indoor
grown, pharmaceutical grade cannabis and on the research and development
of novel cannabinoid-based treatments for several central nervous system
disorders, including chronic pain, fibromyalgia and irritable bowel
syndrome. The Company has 25,000 square feet that is licensed at its
Ontario facility and expansion is currently underway.
FSD facilities 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, is a licensed producer under
the Cannabis Act and Regulations, having received its
cultivation license on October 13, 2017 and its Sale for Medical
Purposes license on April 18, 2019. FV Pharma’s vision is to transform
its current headquarters in a Kraft plant in Cobourg, Ontario into the
largest hydroponic indoor grow facility in the world. FV Pharma intends
to cover all aspects of this exciting new industry, including
cultivation, legal, processing, manufacturing, extracts and research and
development.
Forward Looking Statements
Neither the Canadian Securities Exchange (the “CSE“) nor
its Market Regulator (as that term is defined in the policies of the
CSE) accepts responsibility for the adequacy or accuracy of this release.
Certain statements contained in this press release constitute
forward-looking information. These statements relate to future events or
future performance. The use of any of the words “could”, “intend”,
“expect”, “believe”, “will”, “projected”, “estimated” and similar
expressions and statements relating to matters that are not historical
facts are intended to identify forward-looking information and are based
on the Company’s current belief or assumptions as to the outcome and
timing of such future events. Actual future results may differ
materially. The forward-looking information contained in this press
release is made as of the date hereof and the Company is not obligated
to update or revise any forward-looking information, whether as a result
of new information, future events or otherwise, except as required by
applicable securities laws. Because of the risks, uncertainties and
assumptions contained herein, investors should not place undue reliance
on forward-looking information. The foregoing statements expressly
qualify any forward-looking information contained herein.
Contacts
Canntab Therapeutics Limited
Jeffrey Renwick
Chief
Executive Officer
+1 289.301.3812
jeff@canntab.ca
Frank
Candido
Business Development
514-969-5530
frank@canntab.ca
Investor
Relations
Relations Publiques Paradox Inc.
Jean-Francois
Meilleur
1-866-460-0408
jfmeilleur@paradox-pr.ca
https://www.paradox-pr.ca/
Heritage
Cannabis Holdings Corp.
Clint Sharples
Chief Executive
Officer
416-705-8529
csharples@heritagecann.com
Elizabeth
Thomas
905-321-8086
ethomas@heritagecann.com
FSD
Pharma Inc.
Zeeshan Saeed
President and Founder,
(416)
854-8884
zeeshan@fsdpharma.com