Companies will Work Together to Produce and Distribute United Cannabis' Patented CBD and Bio Nutrient Products
DENVER, CO / ACCESSWIRE / February 1, 2018 / United Cannabis Corporation (CNAB) (the "Company" or "United Cannabis") today announced that it has established a Limited Partnership between the Company, LASCO Manufacturing Limited (LASCO) and United Cannabis' Jamaican Partner, Cannabinoid Research & Development Co. Ltd. View the joint announcement.
LASCO, one of the leading dry blend beverage companies in Jamaica, reported revenue of $56.2 million in 2017, with products exported to 22 countries throughout the Caribbean, Central and South America, Canada, United Kingdom, and the United States.
The Company also announced that it has signed an exclusive License Agreement (the "Agreement") with LASCO to produce the Company's CBD water and other Bio Nutrient Medicinals in the form of Capsules, Sublinguals, Roll-ons, and Balms for the English-speaking Caribbean and Central America, excluding Mexico.
The Ministry of Health has approved a range of the Company's products for inclusion in the Jamaican registry, and LASCO has submitted its application to the Cannabis Licensing Authority in the Ministry of Industry, Commerce Agriculture and Fisheries, as well as the Ministry of Health for permission to grow, manufacture, transport, research and export cannabis products.
The Honorary Lascelles A. Chin, Founder, Chair and Chief Executive Officer of LASCO, commented on the announcement, "We started LASCO with the mission to build the market for Jamaica's products domestically and around the world, and we recognized the opportunity to do that with the United Cannabis brand. I've already had visits from potential customers from Australia interested in placing large orders, as well as inquiries from territories including Canada, Italy, Europe, and Ukraine wanting information on timing of production and distribution. We are eager to begin this new venture."
Earnest Blackmon, Chief Executive Officer of United Cannabis, went on to say, "We couldn't ask for a better partner in Jamaica than LASCO. Their presence within the domestic market and distribution channels around the world are perfect for this endeavor. Working together with Cannabinoid Research and Development we have retained the facilities, resources and staff needed to initiate our operation, and we intend to launch as soon as we receive final approval from the Ministry of Health."
About LASCO Manufacturing Limited
LASCO Manufacturing Limited is one of the leading dry blend beverage companies in Jamaica, including LASCO Food Drink, LaSoy Lactose Free, Porridge Mix, Whole Milk and Readi Milk. In the 2016 - 2017 financial year, all of the products manufactured were distributed through LASCO Distributors Limited for both the local and export markets. LASCO's products are now exported to 22 countries throughout the Caribbean, Central and South America, Canada, United Kingdom, and the United States.
LASCO has also distinguished itself in its dedication to the development of Jamaica and the region, through educational and social programs and the delivery of assistance to the less fortunate. LASCO has spearheaded and supported a wide range of community development activities, including its Ambassadorial Programs. These programs were initiated to recognize outstanding Jamaicans such as teachers, police and nurses.
About United Cannabis Corporation
United Cannabis Corporation is a biotechnology company dedicated to the development of phyto-therapeutic based products supported by patented technologies for the pharmaceutical, medical, and industrial markets. The Company has long advocated the application of cannabinoids for medical applications and is building a platform for designing targeted therapies to increase the quality of life for patients around the world. Most of the Company's products are patent protected first in class medicines with applications to a global market.
United Cannabis trades on the OTCQB under the symbol CNAB.
For further information, please visit www.unitedcannabis.us.
Certain statements in this news release may contain forward-looking information within the meaning of Rule 175 under the Securities Act of 1933, are subject to Rule 3b-6 under the Securities Exchange Act of 1934, and are subject to the safe harbors created by those rules. All statements, other than statements of fact, included in this release, including, without limitation, statements regarding potential future plans and objectives of the company, are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and other results and further events could differ materially from those anticipated in such statements. Future events and actual results could differ materially from those set forth in, contemplated by, or underlying the forward-looking statements.
SOURCE: United Cannabis Corporation