Cannabics Pharmaceuticals engages with Mountain High Products in Colorado
BETHESDA, Md., Dec. 18, 2014 /PRNewswire/ -- Cannabics Pharmaceuticals Inc. (OTCQB: CNBX) announced today that it has executed a letter of engagement with Mountain High Products in Colorado, for the manufacturing and distribution of Cannabics SR medical cannabis products in the Colorado market.
Mountain High Products is a leading cannabis infused products manufacturer and distributor in Colorado, with a diverse line of edible and concentrate products which excel in quality, consistency and potency.
Cannabics SR medical cannabis products will be produced by Mountain High Products in strict compliance with Colorado laws and regulations of "Cannabis Infused Edible Products" and distributed to certified dispensaries through Mountain High's existing distribution channels.
Under the terms of the engagement letter, Cannabics Pharmaceuticals shall license to Mountain High the exclusive right to use its proprietary Cannabics SR technology for the manufacturing and commercialization of the products in the Colorado market, and any additional US market to which the parties shall decide to enter together. The parties intend to transform the engagement letter into a definitive IP license agreement within a few months from the launch of operations and commencement of successful collaboration.
Dr. Zohar Koren, CEO of Cannabics Pharmaceuticals, stated, "We are very excited to launch the collaboration with Mountain High Products in Colorado and thus offer our line of advanced medical cannabis products to American patients for the first time. Mountain High Products is an ideal strategic partner for us to launch US commercialization operations and by far the most professional and dedicated manufacturer of edible cannabis products in Colorado."
Nancy Whiteman, owner of Mountain High Products added, "We are thrilled to partner with Cannabics Pharmaceuticals. From our perspective, the ability to offer an extended release option in cannabis medication will be a game changing improvement to a patient's medical marijuana experience. The Cannabics SR technology will enable patients to have more consistent and longer lasting relief from pain, insomnia and other medical conditions without the highs and lows of other cannabis options. This is truly a huge step forward for medical marijuana."
About Cannabics Pharmaceuticals, Inc.
Cannabics Pharmaceuticals, Inc. is an emerging drug development company focused on the development and commercialization of advanced drugs, therapies, food supplements and administration routes based on the wide range of active ingredients found in diverse and unique strains of the Cannabis plant. Cannabics' current flagship product is Cannabics SR an IP pending medical cannabis capsule designed specifically for cancer patients as a palliative care treatment. Cannabics' proprietary SR technology provides 10-12 hours of steady state and beneficial therapeutic effects profile, and thus allows for a convenient oral, once-per-day or twice-per-day dosing regimen of medical cannabis for patients. Cannabics is now preparing to launch its line of SR products in eligible states of the US and EU markets under existing medical cannabis regulatory pathways, while simultaneously preparing to launch a series of formal clinical studies in order to establish the unique medical benefits of its products for patients suffering from various indications.
For more information, visit www.cannabics.com
About Mountain High Products LLC
Mountain High Products LLC was formed five years ago and is one of the most diversified and well-established infused products companies in Colorado. Within its 10,000 square foot manufacturing facility, the company has broad capabilities. It runs the largest extraction operation in the state using CO2, n-butane, heptane and ethanol supported by a fully equipped support lab. Under the brand name 'Wana' the company makes over 20 distinct edible products, custom hash, vape oil, and a full line of topicals. Mountain High also sells a variety of equipment, packaging and consulting services to the cannabis industry. From this foundation and its upcoming 2015 growth into Nevada, Washington, Oregon and other states, this strategic alliance with Cannabics offers an ideal opportunity to use Mountain High's strengths in science, engineering, extraction, manufacturing, sales and logistics to build Cannabics products into a leading U.S. brand.
For more information, visit www.wanabrands.com
DISCLAIMER:
Certain statements contained in this release constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements include, but are not limited to statements identified by words such as "believes," "expects," "anticipates," "estimates," "intends," "plans," "targets," "projects" and similar expressions. The statements in this release are based upon the current beliefs and expectations of our company's management and are subject to significant risks and uncertainties. Actual results may differ from those set forth in the forward-looking statements. Numerous factors could cause or contribute to such differences, including, but not limited to, results of clinical trials and/or other studies, the challenges inherent in new product development initiatives, the effect of any competitive products, our ability to license and protect our intellectual property, our ability to raise additional capital in the future that is necessary to maintain our business, changes in government policy and/or regulation, potential litigation by or against us, any governmental review of our products or practices, as well as other risks discussed from time to time in our filings with the Securities and Exchange Commission, including, without limitation, our latest 10-K Report filed on December 15th, 2014. We undertake no duty to update any forward-looking statement or any information contained in this press release or in other public disclosures at any time.
For Further Information, please contact:
Cannabics Pharmaceuticals, Inc.
Itamar Borochov
Corporate VP Marketing
877-424-2429
[email protected]
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SOURCE Cannabics Pharmaceuticals Inc.
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