Multi-Function Facility To Launch Additional Processing Services For Colorado Industrial Hemp Farmers
DENVER, CO / ACCESSWIRE / February 27, 2018 / United Cannabis Corporation (CNAB) (the ''Company'' or ''United Cannabis'') today announced that it has initiated extraction services at its Colorado industrial hemp processing plant (the ''Facility'').
The Company established the Facility to provide contract manufacturing to farmers working under the 2014 Federal Farm Bill and Colorado's Department of Agriculture's Industrial Hemp Program.
The multi-function Facility will provide customers with the ability to create simple extracts, capsules and sublingual drops, as well as process raw hemp seed through cold press extraction. Valuable fibrous bi-products generated through the processing will also be collected for sale to a wide range of consumer product industries. The Company will also offer purification, testing and processing services, as well as packaging, fulfillment, and secure storage capabilities.
Earnest Blackmon, Chief Executive Officer of United Cannabis, commented on the announcement, ''We're glad to have the processing facility up and running. Colorado farmers account for more than half of U.S. domestic hemp production, but most do not have the resources to process their crop beyond harvest. While demand for CBD and other cannabinoid-centric products continues to grow, the raw plant material remains a commodity product. Our facility provides farmers with a viable outlet to introduce their harvested material into the supply chain, with higher margins for them, which is good news for everyone in the industry.''
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