Initial Focus Will Be Formulations Of Industrial Hemp CBD With Terpenes
DENVER, CO / ACCESSWIRE / October 26, 2016 / United Cannabis Corporation (OTCQB: CNAB) (the "Company" or "United Cannabis") today announced that it will be expanding its product offering through the manufacture and marketing of CBD-rich hemp-based formulations for administration via cartridges for use in vaporizers.
Earnest Blackmon, CEO of United Cannabis, commented on the announcement, "Our mission has always been to advance the access of medical cannabis to patients in need, and we felt the ability to offer a vaporizer-compatible delivery mechanism was essential to that effort. With the Company expanding in multiple locations, the principals decided to fund the startup phase of this endeavor with proceeds from the sale of founders' stock. I'm confident this direction will help position us for growth here in the States, as well as strengthening our position in Jamaica and other markets we hope to pursue."
Tony Verzura, the Company's Chief Technology Officer, went on to say, "Our proprietary technology for extracting terpenes from plant material delivers a pure and potent terpene concentrate that can then be used as a diluent in the vaporization / inhalation of cannabis derived compounds, and is a vital element in the formulations of our Prana line. I am excited to utilize this same technology in the processing of CBD-rich hemp, not only does it enable us to expand our product line, it also continues to show the value in our patents."
Management anticipates cartridge production will begin by year-end, initially with the Company's terpene-enhanced CBD vape pen formulation. New formulations are expected to follow shortly thereafter. The Company has purchased Convectium's state-of-the-art 710Shark v.5 Concentrate Filling Machine and System to facilitate production.
Danny Davis, a partner at Convectium, also commented on the announcement, "We are excited that United Cannabis chose us to support their foray into the cartridge market. We understand the need, in this burgeoning yet non-standardized industry, to go beyond the traditional vendor/customer transaction. Our relentless effort to develop better automation for companies in the cannabis sector is exemplified in our fully-automated 710 Shark System. The technology behind our equipment will allow for the best products and services for one of the industry's best names, United Cannabis."
About United Cannabis Corporation
The Company's Prana Bio Medicinal products provide patients a simple, safe, accurate, and easy way to mix/match cannabinoids for therapeutic purpose. These products, licensed to regulated marijuana dispensaries, are broken into 5 easy to follow 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. Prana Bio Medicinal products are NON-GMO, ethanol free, alcohol free, glycerin free, gluten free, 100% naturally derived, chemical-free, solventless, and hypoallergenic.
For further information, please visit www.unitedcannabis.us.
Contact: [email protected]
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