BOULDER, CO--(Marketwired - Jun 25, 2014) - Cannabis Therapy Corp. (OTCQB: CTCO) (the "Company") a development stage company aiming to become a leader in the research, development and commercialization of safe, all-natural, THC-free cannabinoid-based medicinal therapies and supplements (Nutraceuticals), is pleased to advise that its initial crop of hemp cultivars is well underway with plants exhibiting normal healthy growth characteristics and a current height of approximately 16 inches.
The crop is under expert management as part of a lease and service agreement with Rocky Mountain Hemp Inc. (http://rockymountainhempinc.com) of Springfield, Colorado, on privately-held, organic, irrigated farmland in Southeastern Colorado. As noted previously, Mr. Ryan Loflin, the principal of Rocky Mountain Hemp, is the first Colorado farmer in 57 years to grow, successfully harvest, and process a commercial-scale industrial hemp crop in the United States. His company is actively developing hemp seed genetics while perfecting best practice hemp farming and processing. Mr. Loflin has received international coverage in major news outlets such as The Huffington Post, The New York Times, The Denver Post, The Guardian, LA Times, Yahoo news, etc.
Cannabis Therapy Corp President & CEO Soren Mogelsvang states, "Ryan has done an excellent job getting this crop underway. We are extremely gratified by his knowledgeable, proactive and diligent approach and couldn't be more pleased with his management services. Working with a fourth generation Colorado farmer has provided us a real advantage towards reestablishing the domestic hemp industry over many other growers who are exploiting the regulatory environment and attempting outdoor cultivation in the region for the very first time. Given the pace of growth and potential yield of our crop, we currently believe this initial acreage will adequately deliver a regional source of natural, low-THC cannabinoids and the resultant ability to accelerate our path to revenues. We're looking forward to the next steps of harvesting, processing and manufacturing a whole new line of exciting cannabinoid enhanced products slated for the domestic marketplace."
Additional details of the Company's business, finances, appointments and agreements can be found as part of the Company's continuous public disclosure as a reporting issuer with the Securities and Exchange Commission ("SEC") available at www.sec.gov. For more information please visit www.cannabistherapy.com.
About Cannabis Therapy Corp. (OTCQB: CTCO)
Cannabis Therapy Corp. aims to develop and market safe, phytocannabinoid-based medicinal products and to apply rigorous manufacturing and quality control standards to become a global leader in the research, development, manufacturing, testing and marketing of cannabinoid ingredients and therapies. For more information visit www.cannabistherapy.com.
Safe Harbor Statement
Any statements contained in this press release that do not describe historical facts may constitute forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. Any forward-looking statements contained herein are based on current expectations, but are subject to a number of risks and uncertainties. The factors that could cause actual future results to differ materially from current expectations include, but are not limited to, risks and uncertainties relating to the availability of additional funding; and the Company's business, product development, marketing and distribution plans and strategies. These and other factors are identified and described in more detail in the Company's filings with the SEC, including, the Company's current reports on Form 8-K. The Company does not undertake to update these forward-looking statements.
ON BEHALF OF THE BOARD,
Soren Mogelsvang, President & CEO
Cannabis Therapy Corp.