OTTAWA, ONTARIO--(Marketwired - March 30, 2017) - CannaRoyalty Corp. (CSE:CRZ)(CNNRF) ("CannaRoyalty" or the "Company") is pleased to announce it has signed a binding term sheet giving CannaRoyalty the exclusive right to license certain of NuTrae LLC's ("NuTrae") award-winning line of MüV cannabis-derived medical products, the MüV Transdermal Patch and MüV Metered Dose Inhaler, in Canada, Puerto Rico, Massachusetts, Washington, Oregon, Nevada and California.
NuTrae (doing business as MüV) is a subsidiary of Alternative Medical Enterprises (doing business as AltMed Enterprises), and launched the MüV product line in Q3, 2016 exclusively in the Arizona medical market where it's affiliate operates a world-class state-of-the-art 30,000 square foot cultivation and processing facility. Since then MüV has won multiple "Best of Arizona" medical cannabis awards, including two 1st prizes for MüV's proprietary ethanol extractions. CannaRoyalty's affiliate, Cannroy Delaware, Inc., currently holds an 8.2% ownership position in AltMed Enterprises and earns a 3.5% royalty on the sales of all NuTrae products sold globally.
"The MüV line of products is uniquely positioned in the medical cannabis industry by having developed pharmaceutical-grade medical products such as the MüV Transdermal Patch and MüV Metered Dose Inhaler," said Marc Lustig, CEO of CannaRoyalty. "These products are exciting additions to our recently established CR Brands platform that consists of a broad portfolio of wholly-owned and licensed brands which will be licensed or distributed throughout key North American markets."
CannaRoyalty is a fully integrated, active investor and operator in the legal cannabis sector. Our focus is to build and support a diversified portfolio of growth-ready assets in high-value segments of the cannabis sector, including research, consumer brands, devices and intellectual property. Our management team combines a hands-on understanding of the cannabis industry with seasoned financial know-how, assembling a platform of holdings via royalty agreements, equity interests, secured convertible debt and licensing agreements.
Statements in this news release that are forward-looking statements are subject to various risks and uncertainties concerning the specific factors disclosed here and elsewhere in CannaRoyalty's periodic filings with Canadian securities regulators. When used in this news release, words such as "will, could, plan, estimate, expect, intend, may, potential, believe, should," and similar expressions, are forward-looking statements.
Forward-looking statements may include, without limitation, statements including the Company's expectations with respect to pursuing new opportunities and its future growth and other statements of fact.
Although CannaRoyalty has attempted to identify important factors that could cause actual results, performance or achievements to differ materially from those contained in the forward-looking statements, there can be other factors that cause results, performance or achievements not to be as anticipated, estimated or intended, including, but not limited to: dependence on obtaining regulatory approvals; investing in target companies or projects which have limited or no operating history and are engaged in activities currently considered illegal under US Federal Laws; changes in laws; limited operating history; reliance on management; requirements for additional financing; competition; hindering market growth and state adoption due to inconsistent public opinion and perception of the medical-use and adult-use marijuana industry and; regulatory or political change.
There can be no assurance that such information will prove to be accurate or that management's expectations or estimates of future developments, circumstances or results will materialize. As a result of these risks and uncertainties, the results or events predicted in these forward-looking statements may differ materially from actual results or events.
Accordingly, readers should not place undue reliance on forward-looking statements. The forward-looking statements in this news release are made as of the date of this release. CannaRoyalty disclaims any intention or obligation to update or revise such information, except as required by applicable law, and CannaRoyalty does not assume any liability for disclosure relating to any other company mentioned herein.