Oct 20, 2020, 08:20 ET
LOS ANGELES, Oct. 20, 2020 /PRNewswire/ -- Cannabis Global, Inc. (OTC: CBGL) ("Cannabis Global" or the "Company"), a cannabinoid and hemp extract science-forward company developing unique infusion technologies and products, today announces the addition of Tetrahydrocannabinol (THC) to its Project Varin research program, in partnership with Natural Plant Extract of California, Inc ("NPE"), a licensed and regulated cannabis products manufacturer. The Company's goal is to demonstrate the cost advantages of using its proprietary and provisional patent pending nanoparticle and nanofiber technologies to significantly change the cost model relating to the addition of THC to consumer products.
"Our goal with THC and Project Varin is simple: delivering to the cannabis industry a better form of THC that is substantially more effective, less expensive, and free of the potentially dangerous chemicals used in currently available formulations. Over the past few months, our research program has made substantial progress toward these goals with strong successes in CBD, Tetrahydrocannabivarin (THC-V), and Cannabinol (CBN). By applying what we have learned thus far to THC, we hope to formulate an entirely new class of THC product for the cannabis industry that will be included under our nanotechnology provisional patent filing and future patent applications," commented Company CEO, Arman Tabatabaei.
Last year, Cannabis Global filed six provisional patent applications, one of which outlined the methods and end product of technologies to create new forms of polymeric cannabinoid nanoparticles. Since the nanoparticle filing, the Company has expanded its research to include several of the lesser-known cannabinoids, such as Tetrahydrocannabivarin (THC-V) and Cannabinol (CBN). The Company plans to add Tetrahydrocannabinol (THC) to the program with the aim of creating new particles and fibers that will allow product formulators and manufacturers to use a fraction of the active ingredient while providing superior effectiveness for consumers.
The Company's addition of THC to Project Varin will be performed in conjunction with Natural Plant Extract of California, Inc. ("NPE"), which operates a licensed cannabis manufacturing and distribution business operation out of Lynwood, California. NPE owns a Type 7 California Manufacturing License as well as a California Distribution license. The Company recently announced an agreement to purchase (18.8%) of Natural Plant Extract's outstanding capital stock.
Mr. Tabatabaei added, "What we have achieved in only one year relative to the production of cannabinoids containing nanofibers and particles is unique. While the current state of the art for cannabinoid nanotechnology relies on a variety of chemicals to load particles and fibers at approximately 13% of active ingredients, we have invented methods to create loaded particles at over 50% in both ultra-fast acting and sustained-release formats. Currently available technologies add unacceptable tastes and odors due to the use of chemicals. Our formulations are free of surfactants, emulsifiers, and similar chemicals. The addition of THC to our program adds significant value to our intellectual property portfolio, and will be a strong addition to our upcoming patent filings."
The use of nanotechnologies in the cannabis industry is not new, with many licensed dispensaries and delivery services offering products. Consumers often prefer the nano-enhanced version of products due to the increased psychoactive effect; such products, however, are expensive to manufacturer and are loaded with significant amounts of chemical surfactants, emulsifiers, and other additives, which may not be healthy and usually added very unpleasant flavors to foods and beverages. The Company's technologies are designed to produce cannabinoids that offer vastly different properties that are free of surfactants, emulsifiers, and similar chemicals.
About Cannabis Global, Inc.
Cannabis Global, Inc., formerly known as MCTC Holdings, Inc., is a fully audited and reporting Company with the U.S. Securities & Exchange Commission, trading with the stock symbol CBGL. The Company is an emerging force in the area of cannabinoid sciences and highly bioavailable hemp and cannabis infusion technologies. The Company has an actively growing portfolio of intellectual property having filed six patents in the areas of cannabinoid delivery systems and cannabinoid polymeric nanoparticles. The Company markets its consumer products under the Hemp You Can Feel™ brand name. Cannabis Global launched its Project Varin early in 2020, to develop new delivery methods for rare cannabinoid Tetrahydrocannabivarin (THV-C) and to develop products based on this cannabinoid.
About Provisional Patent Filings
Under United States patent law, a provisional application is a legal document filed in the United States Patent and Trademark Office, that establishes an early filing date, but does not mature into an issued patent unless the applicant files a regular non-provisional patent application within one year.
Psychoactive Cannabis and Federal Law
Psychoactive Cannabis containing more than 0.3% THC is a Schedule 1 controlled substance and is illegal under federal law, specifically the Controlled Substances Act (21 U.S.C. § 811). Even in states that have legalized the use of psychoactive cannabis for medical and/or recreational use, its sale and use remain violations of federal law. The illegality of psychoactive cannabis under federal law preempts state laws that legalize its use. Strict enforcement of federal law regarding psychoactive cannabis would materially impact our business.
This news release contains "forward-looking statements" which are not purely historical and may include any statements regarding beliefs, plans, expectations or intentions regarding the future. Such forward-looking statements include, among other things, the development, costs and results of new business opportunities and words such as "anticipate", "seek", intend", "believe", "estimate", "expect", "project", "plan", or similar phrases may be deemed "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with new projects, the future U.S. and global economies, the impact of competition, and the Company's reliance on existing regulations regarding the use and development of cannabis-based products. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that any beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that any such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in our annual report on Form 10-k, our quarterly reports on Form 10-Q and other periodic reports filed from time-to-time with the Securities and Exchange Commission. For more information, please visit www.sec.gov.
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SOURCE Cannabis Global, Inc.
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