Agreement Launches World Renowned Cannabis Brand In US Market
Denver, CO / ACCESSWIRE / October 30, 2014 / United Cannabis Corp. (OTCBB: CNAB) (the "Company" or "United Cannabis") today announced that it has signed a ten-year, exclusive licensing and distribution agreement with Amsterdam-based DNA Genetics.
Agreement Highlights:
United Cannabis will serve as the exclusive distributor for DNA Genetics in Colorado, with first right of refusal in all states where the Company becomes licensed.
Companies will work together to establish local breeding projects to cultivate product for lawful sale in all licensed territories.
Includes all DNA Genetics branded fashion and retail merchandise.
United Cannabis will receive 15% of revenue accrued to DNA Genetics under the agreement.
DNA Genetics will supervise genetic selection and cultivation of strains for development of new United Cannabis medicinal products.
DNA Genetics
DNA Genetics is a world leader in cannabis genetic research and development. Attributed with the cultivation of hundreds of cannabis strains, DNA Genetics has won more than 125 awards across the globe for their contributions to the industry, including nine for the development of the medicinal LA Confidential, the first pure Indica strain in the world to be genome sequenced and genetically mapped.
DNA Genetics' ability to foresee and satisfy market preferences and trends has garnered them a global customer base and strong brand recognition around the world. This popularity extends to merchandise sales, which generated more than $5 million in revenue for the company in 2013.
Agreement Overview
In order to comply with regulations that prohibit the sale or transfer of any cannabis plant materials between markets, the companies will work together to establish regional breeding programs to develop indigenous product for each of the territories where United Cannabis affiliates and licensees grow, refine, or dispense cannabis.
Under the Agreement, DNA Genetics will be responsible for strain selection and genetic verification for use in all activities related to the agreement. They will also oversee all cultivation to ensure that each grow delivers the stipulated qualities.
In addition to serving as the exclusive distributor of all permitted DNA Genetics products, United Cannabis will oversee the companies' joint effort to develop new medical cannabis strains. In particular, the Company will identify traits which would benefit patients suffering from a variety of conditions. The companies would then work together to develop cannabis strains with those characteristics for inclusion in medicinal products that would be licensed under the United Cannabis brand.
Earnest Blackmon, Chief Executive Officer of United Cannabis, commented on the Agreement, "The DNA Genetics brand is synonymous with quality, and we are thrilled to be introducing them to the US market. The ability to offer their unique genetics to our customers and affiliates represents a significant opportunity for United Cannabis."
Tony Verzura, the Company's Chief Technology Officer, went on to say, "United Cannabis is building cultivation standards around select, proprietary genetics in order to ensure our partners and facilities are producing the highest quality, most consistent grade of medicine with every harvest. DNA Genetics is a pioneer in the field of cannabis genetics, and their expertise will be invaluable in our efforts to establish regional breeding programs, as well as cultivating genetics for the expansion of our branded medicinal product lines."
Don and Aaron, DNA Genetics co-founders, stated, "We are excited about partnering with United Cannabis to bring the DNA Genetics brand to the United States. The work they are doing to advance the use of cannabinoids in medicine is cutting edge, and we look forward to working with them in that endeavor as well."
About DNA Genetics
DNA Genetics is world-renown for its development of medicinal cannabis strains, most notably LA Confidential. The company employs a scientific approach to development, using only the highest quality genetics and organic products during cultivation. Their dedication to best-practices and meticulous attention to detail has resulted in more than 125 awards from prestigious cannabis events in around the world. The company also markets branded clothing and other merchandise from its retail location in Amsterdam and online though its website.
For more information, please visit www.dnagenetics.com.
About United Cannabis Corporation
United Cannabis Corporation was founded to advance the use of cannabinoids in medicine through research, product development and education. The Company is dedicated to improving the lives of patients through the creation of products using only the highest quality genetics, purest extractions and most effective protocols possible. The Company's A.C.T. Now Program and patent-pending Prana Bio Nutrient Medicinals provide a comprehensive solution designed to enable physicians and patients to design, implement and monitor effective therapy protocols.
For further information, please visit www.unitedcannabis.us.
Forward-Looking Statements
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 harbor 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.
Contact:
Lorin Cohen
1-720-319-7519
SOURCE: United Cannabis Corp.