BOULDER, CO--(Marketwired - Sep 29, 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, ultra-low THC, cannabinoid-based medicinal therapies and supplements (Nutraceuticals), is very pleased to announce it recently passed pre-harvest inspection by the Colorado Department of Agriculture, and subsequently harvested its first ever hemp crop which is now slated for near term product development and commercial applications.
As noted previously, in May, 2014 Cannabis Therapy Corp. engaged Mr. Ryan Loflin and his company, Rocky Mountain Hemp Inc. of Springfield, Colorado regarding an exclusive land lease and crop service agreement for the outdoor cultivation of high-quality, organic hemp. Subsequent reports indicated a healthy crop which the Colorado Dept. of Agriculture sampled on August 28, and reported that the plants tested below 0.3% THC (dry weight) and therefore were in compliance with the Colorado Industrial Hemp Regulatory Program Act on September 15, 2014.
This notification effectively cleared the path for harvesting of the crop which occurred on September 20, 2014. Once processed, the hemp materials will be used for product development aimed at formulating proprietary anti-inflammatory and related nutraceutical products for humans. In addition, some of the crop is slated for use as an ingredient in the recently licensed Canna-Pet™ product lineup of animal supplements.
Canna-Pet, LLC President Dan Goldfarb states, "As the fastest-growing provider of over-the-counter cannabinoid pet products in the world, Canna-Pet™ values our promising relationship with Cannabis Therapy Corp. which now allows us to produce the first commercial products with American-grown hemp in over 60 years."
Cannabis Therapy Corp. President and CEO Dr. Soren Mogelsvang states "We are very proud today to have this opportunity to launch into commercial activities within such a relatively short timeline and make a little history while we are at it. Our commitment to advance the science and medical applications of this extraordinary plant shows that real opportunities are achievable in the non-THC side of the Cannabis sector and that we believe we are only scratching the surface of this burgeoning market."
For more information about the Company please visit www.cannabistherapy.com.
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 both humans and animals. For more information visit www.cannabistherapy.com.
About Canna-Pet™ Products for Pet Health
Canna-Pet® is the culmination of twenty years of research and development in cannabinoid therapies for animals. Canna-Pet® produces veterinarian recommended, legal, cannabidiol (CBD) products for animals, made from industrial hemp and manufactured in the USA. Canna-Pet® products contain not only CBD, but carefully controlled ratios of other cannabinoids and terpenes that make the products uniquely effective. Canna-Pet, LLC products are available worldwide, under an exclusive commercial license agreement with Cannabis Therapy Corp. (OTC: CTCO). For more information visit: www.canna-pet.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. FDA Disclosure: The statements in this news release have not been evaluated by the Food and Drug Administration (FDA). The products and statements mentioned in this release are not intended to diagnose, treat, cure, or prevent any disease.
ON BEHALF OF THE BOARD,
Soren Mogelsvang, President & CEO
Cannabis Therapy Corp.
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