THOUSAND OAKS, CA / ACCESSWIRE / August 22, 2018 / THC Farmaceuticals, Inc. (OTC PINK: CBDG) today announced the signing of a definitive agreement to acquire a majority ownership of CBDual Biotechnology Corp. CBDual is a pharmaceutical start-up company focused on developing products based on cannabidiol (CBD). The company facility is located in southern California, providing easy access for patients to participate in clinical trials of new medical cannabis medications, therapies, and products.
Pursuant to the agreement, CBDual will issue CBDG 50.1% of CBDuals authorized shares in exchange for 1,500,000 CBDG shares and $250,000. The founder of CBDual and owner of the remaining 49.9% of the authorized shares of CBDual will continue to manage the business affairs of CBDual pursuant to a three year employment agreement. If CBDual meets certain benchmarks between now and December 31, 2020, the founder will receive shares of CBDG common stock in exchange for his shares of CBDual stock, whereupon CBDG will own 100% of CBDual. The benchmarks referenced above include achieving certain revenue levels, the filing of patent applications, and the registration with, and subsequent approvals from, the US FDA.
About CBDual Biotechnology
CBDual Biotechnology Corp. is a privately held, US Based Biotechnology company with propriety technology for enhanced oral delivery of bioactive cannabinoids. This technology promotes overall oral health due to higher effectiveness of the delivery methodology. The company was founded in 2016 and is headquartered in California, with its R&D in the US and Israel.
For More information, please visit the company website at www.CBDual.com.
About THC Farmaceuticals, Inc.
THC Farmaceuticals, Inc.: (OTC PINK: CBDG) owns and operates ATMs placed in high-traffic commercial areas in Utah but CBDG is now expanding its operations to include businesses and intellectual properties related to the hemp and cannabis industries.
For additional information visit the company website: http://cbdg.com/
Forward-Looking Statements:
This press release contains "forward-looking statements." Although the forward-looking statements in this release reflect the good faith judgment of management, forward-looking statements are inherently subject to known and unknown risks and uncertainties that may cause actual results to be materially different from those discussed in these forward-looking statements. Readers are urged to carefully review and consider the various disclosures made by us in our reports filed with the Securities and Exchange Commission, including the risk factors that attempt to advise interested parties of the risks that may affect our business, financial condition, results of operation and cash flows. If one or more of these risks or uncertainties materialize, or if the underlying assumptions prove incorrect, our actual results may vary materially from those expected or projected. Readers are urged not to place undue reliance on these forward-looking statements, which speak only as of the date of this release. We assume no obligation to update any forward-looking statements in order to reflect any event or circumstance that may arise after the date of this release.
SOURCE: THC Farmaceuticals, Inc.