Canntab Therapeutics Limited (CSE:PILL.CN) (OTCQB:CTABF) (FRA:TBF1.F) (the “Company” or “Canntab“), the leading innovator in cannabinoid and terpene blends in hard pill form for medical and therapeutic applications, is pleased to announce that it has completed its first delivery of two (2) of a total of five (5) SKU’s ordered by MediPharm Labs Corp. (TSE:LABS.TO) (OTC:MEDIF). Further to Canntab’s press release dated June 2, 2020, the Company confirms that the total purchase order is approximately $1.3 Million. Canntab intends to complete and deliver the entire order by the end of 2020.
“Our first commercial production and delivery of this initial portion of our order from MediPharm Labs Corp. is a major milestone event for our company for three important reasons. First, this is evidence our science, quality assurance programs and production can be executed with the required standards to reflect our unique patented product of pressed tablets and caplets. Second, Canntab’s wide range of products will finally be available to all Canadians through a variety of retail and wholesale channels. Finally, Canntab will be able to recognize revenue from its core product that will have a strong distribution base which will result in continuous sales through further expansion. Canntab will continue to enhance shareholder value by growing revenue through its domestic channels and expanding sales to international customers.” explains Larry Latowsky, Chief Executive Officer of Canntab.
About Canntab Therapeutics
Canntab Therapeutics is a Canadian biopharmaceutical company focused on the manufacturing and distribution of a suite of hard pill cannabinoid formulations in multiple doses and timed-release combinations. Canntab’s proprietary hard pill cannabinoid formulations provide doctors, patients and consumers with medical grade solutions which incorporate all the features one would expect from any prescription or over the counter medication sold in Canadian pharmacies. These will include the following formulations: once a day and extended release, both providing an accurate dose and improved shelf stability.
Canntab holds a Cannabis Standard Processing & Sales for Medical Purposes Licence, a Cannabis Research Licence, and an Industrial Hemp Licence from Health Canada.
Canntab trades on the Canadian Securities Exchange under the symbol PILL, on the OTCQB under the symbol CTABF, and on the Frankfurt Stock Exchange under the symbol TBF1.
Neither the Canadian Securities Exchange nor its Market Regulator (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
Certain information in this press release constitutes forward-looking statements under applicable securities laws. Any statements that are contained in this news release that are not statements of historical fact may be deemed to be forward-looking statements. Forward-looking statements are often identified by terms such as “may”, “should”, “anticipate”, “expect”, “potential”, “believe”, “intend” or negatives of these terms and similar expressions. Forward- looking statements are based on certain assumptions, including Canntab’s ability to fulfil the entire purchase order by the end of 2020, that the Company will continue to grow revenues through domestic channels and international expansion, and general business, economic, competitive, political and social uncertainties will not prevent the Company from conducting its business. While Canntab considers these assumptions to be reasonable, based on information currently available, they are inherently subject to significant business, economic and competitive uncertainties and contingencies and they may prove to be incorrect. Readers are cautioned not to place undue reliance on forward-looking statements. Forward-looking statements also necessarily involve known and unknown risks, including without limitation, risks associated with delays in fulfilling MediPharm Labs Corp.’s purchase order, general economic conditions, adverse industry events, marketing costs, loss of markets, future legislative and regulatory developments, the inability to access sufficient capital on favourable terms, the medical and recreational cannabis industry in Canada and internationally in general, income tax and regulatory matters, the ability of Canntab to execute its business strategies, competition, crop failure, currency and interest rate fluctuations and other risks. Readers are cautioned that the foregoing is not exhaustive. Readers are further cautioned not to place undue reliance on forward-looking statements as there can be no assurance that the plans, intentions or expectations upon which they are placed will occur. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ from those anticipated. Forward-looking statements are not guarantees of future performance. Except as required by law, Canntab disclaims any obligation to update or revise any forward-looking statements, whether as a result of new information, events or otherwise. Forward- looking statements contained in this news release are expressly qualified by this cautionary statement.
SOURCE Canntab Therapeutics Limited