BETHESDA, Maryland, Aug. 13, 2015 /PRNewswire/ -- Cannabics Pharmaceuticals Inc. (OTCQB: CNBX) announced today that first reports from Colorado show that WanaCapsXR cannabis capsules are sold in every region of Colorado.
WanaCaps XR is the result of a partnership between Wana Brands and Cannabics Pharmaceuticals. "The reports from Colorado on increasing sales and returning satisfied customers is an indication to expand into key medical marijuana markets, including New York, Illinois, Washington, Oregon, California and Nevada, through licensing agreements with Wana Brands," said Itamar Borochov, CEO of Cannabics Pharmaceuticals Inc.
Many states who have legalized medical marijuana are limiting smoking and edibles as inappropriate for medical patients. Delivery options such as the recently launched WanaCapsXR offer a palatable alternative for states that have legalized cannabis for medical purposes, but will only allow it in non-smokeable forms such as capsules or oils. WanaCapsXR extended release cannabis capsules offer a proprietary formulation that provides medical marijuana benefits to patients for up to 12 hours.
Medical marijuana is legal in 23 states, but 15 of those states have limited the regulation to low THC-High Cannabidial (CBD) products for medical purposes only. WanaCapsXR feature a proprietary extended release formula available in three different ratios of THC and CBD so that patients can select the formulation that best meets their needs and preferences. WanaCapsXR High CBD Capsules, a 10:1 CBD to THC ratio capsule is the ideal solution for states who have only approved low THC and high CBD products.
About Cannabics Pharmaceuticals:
Cannabics Pharmaceuticals Inc. (OTCQB: CNBX) is a US public company with Research & Development conducted in its laboratories in Israel. The company is dedicated to the development of advanced and sophisticated cannabinoid-based treatments and therapies. Our main focus is in development and marketing of various novel therapies and biotechnological tools aimed at providing relief from diverse ailments and treating human malignancies. These advanced tools include novel delivery systems for cannabinoids, personalized medicine therapies and procedures based on cannabis originated compounds and bioinformatics tools. For more information, visit www.cannabics.com
About Wana Brands:
Wana Brands leads the Colorado's edibles and medical marijuana industry in quality, consistency and potency. Since 2010, Wana Products has made marijuana infused products including custom hash, vape oil, a full line of edibles, and now WanaCaps, a family of extended release cannabis capsules that provide medicinal benefits for up to 12 hours. Based in Boulder, Colo., Wana Products also provides a variety of equipment, packaging and consulting services to the cannabis industry. For more information, visit www.wanacaps.com .
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-Q Report filed on April 20th, 2015. 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.
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Cannabics Pharmaceuticals, Inc.
SOURCE Cannabics Pharmaceuticals Inc.