Companies Will Work Together to Establish ACT NOW Clinics and a Production Facility, and Distribute The Prana™ Product Line Throughout Puerto Rico
DENVER, CO / ACCESSWIRE / November 3, 2016 / United Cannabis Corporation (CNAB) (the "Company" or "United Cannabis") today announced that it has signed a Memo Of Understanding "MOU" with A Puerto Rican Health Management Company, whereby United Cannabis will make available its proprietary Prana formulation, delivery methods, software and professional network, sufficient to launch a complete cannabis based product and support facility for the country of Puerto Rico.
United Cannabis' Chief Technology Officer, Tony Verzura, commented on the announcement, "We meet with a lot of different groups that show an interest in our products and services world-wide. We have been in this space for over four years, and we have learned from experience that it is imperative we choose the right partner. We chose this group of doctors because they are driven to help patients, positioned for licensing, funded, and already integrated in the hospitals throughout the Island. I personally met with the group in California and I was immediately impressed with their vision for Prana."
Mentor Capital estimates that the Puerto Rico cannabis market will account for $300 million by the end of 2019, and represent approximately 15,000 related jobs, which is important as the Island's unemployment rate ranges at about 15%.
Earnest Blackmon, Chief Executive Officer of United Cannabis, added, "The Puerto Rican market represents a real opportunity for expansion of our business model, and I believe that our ACT Now Program and Prana products provide us with a significant competitive advantage."
About United Cannabis Corporation
The Company's Prana Bio Medicinal products provide patients a way to mix/match cannabinoids for therapeutic purpose. These products, licensed to regulated marijuana dispensaries, are broken into 5 categories that are available in capsules, sublingual's, and topical delivery methods. The Company uses a patent-pending infusion process utilizing select fatty acids, lipids, and specific combination of cannabis derived terpenes to increase bioavailability.
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, and 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