Canntab Therapeutics (CSE:PILL) (“Canntab” or the “Company”), today announced the completion of a non-binding Letter of Intent (the “LOI”) with NewCanna S.A.S of Bogota, Colombia (“NewCanna”) for the establishment of a significant bi-lateral relationship for the sale & distribution of Canntab’s products. The territory applicable to the agreement is the countries of Colombia, Chile, Paraguay and Spain, (collectively, the “Territory”). The agreement will grant NewCanna the right to sell and distribute certain Canntab exclusive proprietary products, and the right to utilize Canntab’s know-how and patents in the Territory only.

The LOI provides a 60-day period for the parties to complete a formal agreement, which will trigger a one-time, non-refundable License Fee of US $2-million payable to Canntab by NewCanna in consideration for the exclusive license to be granted by Canntab to NewCanna.


The formal agreement will establish:

  • Exclusive 5-year distribution agreement for Canntab’s oral sustained release tablet formulations in the Territory;
  • The supply of up to US$10-million of NewCanna cannabis oil to Canntab for which Canntab will place a deposit of US $1-million;
  • Agreement between the parties to work together to obtain the necessary regulatory and licensing approvals to implement the business requirements, including importation and exportation of materials;
  • Performance standards by NewCanna in each country covered by the agreement;
  • 50% / 50% profit sharing on the sales of products under the agreement;
  • Such other provisions as may be agreed to, and which would be customary in an agreement of this sort; and
  • Conditional upon the execution of a formal agreement encompassing the provisions of the LOI, payment of the US $2-million license fee and subject to any regulatory and exchange approvals, the Company will issue warrants to NewCanna to purchase up to 500,000 common shares of the Company at a price of $1.80 per common share for a period of two years.

The significance of this relationship is such that management of both Canntab and NewCanna will be devoting substantial effort to the completion of the formal agreement within the required timeline. NewCanna would become a key supplier of raw materials for Canntab and on a cost basis which will be very favourable in comparison to other sources worldwide.

“We welcome this key development in our business plan and the opportunity to rapidly expand into the many potential markets for Canntab products worldwide. The wide variety of NewCanna’s cannabis strains will give us access to a full range of Cannabinoids and terpenoids to further our development pipeline.” said Jeff Renwick, Canntab CEO. In conjunction with, our recently announced relationship with FSD Pharma and with our progressing work with Emblem Cannabis Corporation, I believe Canntab is poised to be the world leader in pharmaceutical grade, standardized tablet dosage of medicinal cannabis.”

Santiago Londono, the Founder and Chief Executive Officer of NewCanna, added “When carefully building a global network of cultivators and distribution channels in today’s fast-growing medicinal cannabis market it is imperative to identify the best possible pharma-grade manufacturing partners, this is why, after rigorously evaluating many other possible alliances, we have decided Canntab has the vision, infrastructure and knowledge that represents our best interest moving forward. Our main goal is to deliver the most responsible and precise dosage to every patient that trusts our brands, and we believe Canntab will be instrumental in achieving this objective.”

NewCanna, directly and through its existing partners;

  • has access to, or control over, four cultivation and extraction licenses
  • four additional licenses under application
  • over 3,000 hectares of cannabis production
  • a 32,000 square foot pharmaceutical-grade extraction facility capable of processing 5,000 tonnes of raw material per day — currently being upgraded to meet EU Good Manufacturing Practices (GMP) standards
  • Colombian oil-exportation license
  • operations within the Cannabis Free Trade Zone
  • genetic registration of more than 500 strains of cannabis and wide-ranging existing distribution.

Much of NewCanna’s direct and in-direct production is through local indigenous and peasant farmers licensed by the Government. NewCanna is committed to the sustainable, good cultivation processes of the local growers and to supporting them in their own economic and business development.

About Canntab

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 in-house technology to deliver standardized medical cannabis extract from selective strains in a variety of extended/sustained release pharmaceutical dosages for therapeutic use. Simply put, Canntab’s mission is to put the “Medical” into medicinal cannabis! Canntab trades on the Canadian Securities Exchange under the symbol PILL and on the Frankfurt Exchange under the symbol TBF1.

– 30 –

For further information contact:

Canntab Therapeutics Ltd.
Jeffrey Renwick
Chief Executive Officer
+1 289-301-3812
jeff@canntab.ca

NEWCANNA S.A.S.

Santiago Londono
Chief Executive Officer
+1 604-200-0440

Forward Looking Statements

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.

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.

Click here to connect with Canntab Therapeutics (CSE:PILL) for an Investor Presentation. 

Source: www.newsfilecorp.com

Cresco Labs (CSE:CL) (OTCQX:CRLBF) (“Cresco” or the “Company”), one of the largest vertically integrated multistate cannabis operators in the United States, announced today its participation in the following investor conferences:

  • Needham 2nd Annual Virtual Cannabis Conference – March 3 rd , 2021 – Management will participate in virtual one-on-one meetings.
  • 33rd Annual Roth Conference – March 15 th -17 th , 2021 – Charlie Bachtell, CEO and Co-Founder, will participate in a Fireside Chat and management will later participate in virtual one-on-one meetings on April 7 th .
  • Stifel Multi-Sector Conference – April 21 st , 2021 – Management will participate in virtual one-on-one meetings.

About Cresco Labs

Keep reading... Show less

Green Thumb Industries, a leading cannabis consumer packaged goods company and owner of Rise™ Dispensaries, is expanding key partnerships and creating scholarships earmarked for those from communities most impacted by the war on drugs as part of its corporate social responsibility program. The scholarships will be granted to a total of four students for programs at the Cleveland School of Cannabis in Ohio and Olive-Harvey College in Illinois. Additionally, Green Thumb will continue its support of Cabrini Green Legal Aid and partner with the North Lawndale Employment Network in Chicago as part of ongoing collaborations that include financial support, volunteerism and awareness initiatives.

Building on the foundation of Green Thumb’s LEAP initiative, which provided pro-bono support for social equity license applicants in Illinois and which will soon offer business incubator resources to newly awarded social equity entrepreneurs, these impactful partnerships mark a critical next step in prioritizing diversity, equity, and inclusion in the cannabis industry.

Keep reading... Show less

All five flavours of the Company’s KOIOS™ nootropic beverage product are now being carried by Jensen’s, a regional supermarket chain operating in the San Diego, Los Angeles, and Palm Springs areas of Southern California. This placement of KOIOS™ follows several other recent placements of the Company’s beverage products in regional supermarket chains across the United States as part of a strategy to passively build market share in specific geographical areas.

Koios Beverage Corp. (CSE: KBEV; OTC: KBEVF) (the “Company” or “Koios”) is pleased to announce that the full range of five flavours of its KOIOS ™ nootropic beverages can now be purchased at all grocery stores operated by Jensen’s Foods (“Jensen’s”), a long-established family-owned grocery chain operating in the San Diego, Los Angeles, and Palm Springs areas of Southern California. In a press release dated February 19, 2021 the Company announced another chain-wide placement of KOIOS ™ nootropic beverages on the west coast of the United States with Market of Choice in Oregon. With this placement of KOIOS ™ in Jensen’s supermarkets, the Company’s beverage products are now carried in approximately 180 retail stores on the west coast, out of a total of more than 4,000 retail stores nationwide.

Keep reading... Show less

 Lobe Sciences Ltd. (CSE: LOBE) (OTC Pink: GTSIF) (“Lobe” or the “Company”) announces that Philip Young, CEO and Director, and Maghsoud Dariani, Chief Science Officer will be presenting on Thursday, February 25th, 2021 at 5:45 pm EST at “The Gold Standard in Psychedelic Investment, Psychedelic Capital Virtual Investment Conference”, a platform showcasing the top companies, latest IPOs, newest opportunities, and deepest industry insights.

As a presenting sponsor, the Company will connect directly with some of the earliest moving investors in the psychedelic industry and reach an audience of 2,000+ investors. Presentations are 30 minutes in length, with 10 minutes allocated to a one-on-one Q&A session with the audience.

Keep reading... Show less

As Canadian operators race to strengthen their positions in the cannabis landscape, are international pursuits outside North America still top of mind?

The role that mergers and acquisitions (M&A) have played in the expansion of Canadian companies across the globe has been monumental for the growth of the cannabis industry. Now the space has reached a critical point as the demands of the US market increase.

Keep reading... Show less