Company Is Initiating Activities To Establish Infrastructure For The Cultivation, Processing, Transportation and Research Of Cannabis
DENVER, CO / ACCESSWIRE / September 25, 2018 / United Cannabis Corporation (CNAB) (the "Company" or "United Cannabis") today announced that its Joint Venture (the "Joint Venture" or "UCANN/CRD"), which is 50% owned with Jamaica-based Cannabis Research & Development ("CRD"), has received conditional approval of its license to cultivate, process, transport and conduct research on cannabis within Jamaica.
Earnest Blackmon, Chief Executive Officer of United Cannabis, commented on the announcement, "This is a monumental milestone for the Company; this approval provides us with ability to establish a licensed facility from which we can manufacture our medical cannabis Prana products for distribution approved markets around the world."
Products covered under this license include the Company's complete Prana Bio Nutrient Medicinal line as well as its industrial hemp products; CBD-Infused Water, Prana P5 Hemp Bio Nutrient Capsules, Aromatherapy Roll-On and Sublingual Drops.
Blackmon went on to say, "Jamaica will be a significant hub for United Cannabis. This August we began clinical trials on our Prana Bio Nutrient Medicinal P1 Capsules which we expect will provide us with significant data as we proceed with our efforts to establish Prana products as an FDA-compliant line. This license gives us the ability to oversee all aspects of our production, from seed cultivation through production, something we are not currently able to accomplish in the United States."
UCANN/CRD was established following the approval by Jamaica's Cabinet and Parliament of an Amendment to the Dangerous Drugs Act, providing for the decriminalization of the cultivation, production, possession and use of Ganja (aka cannabis) for medical, therapeutic, and scientific purposes within the country.
About Cannabinoid Research & Development Limited
Cannabinoid Research & Development (CRD), a subsidiary of United Cannabis, is a Jamaican based corporation pursuing local licensing to advance the use of medical cannabis therapies through biomedical research and development for the nutraceutical industry. CRD focuses on genetic restoration, cannabinoid isolation techniques, scientific research, educational programs, and promotes domestic job opportunities. John Sayers, along with Kenyama Brown, local Jamaican directors and executives of CRD, coupled with Jamaican partners specializing in agricultural science and plant based medicine, will help United Cannabis implement Sayer's 40 years of agricultural methodologies into localized educational curriculums, job training programs, and help with integration of localized products.
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