TORONTO – Canntab Therapeutics Limited (CSE:PILL.CN)(OTCQB:CTABF) (FRA:TBF1.F) (the “Company” or “Canntab”), the main innovator in cannabinoid and terpene blends in exhausting tablet kind for therapeutic functions, is happy to announce that it’s right this moment starting manufacturing of its on the spot launch tablets and has already entered into its first buy settlement with MediPharm Labs (“MediPharm”) (TSX:LABS)(OTCQX: MEDIF)(Deutsche Borse: MLZ), a international chief in pharma high quality cannabinoid based mostly merchandise.
Canntab obtained its first order beneath the settlement right this moment, and the worth of the complete settlement will exceed $1 million. Orders beneath the settlement might be composed of a mixture of Canntab’s proprietary on the spot launch tablets delivering THC, CBD and a mixture of THC/CBD in 12 totally different strengths. MediPharm will buy and distribute hashish merchandise on a non-exclusive foundation throughout Canada, via licensed provincial dispensaries.
The actual worth of shipments beneath the settlement might be decided no later than June 30, 2020 and will rely on the ultimate concentrations of Canntab’s on the spot launch tablets chosen by MediPharm.
Canntab has already filed its 60 day discover for approval to promote this line of merchandise with Health Canada and expects that its tablets might be obtainable on the market within the early summer season. Canntab is at present the one firm in Canada able to delivering THC, CBD and/or any mixture THC/CBD in pharmaceutical grade tablets or exhausting drugs.
Jeff Renwick, CEO of Canntab stated “we are very excited and pleased to have achieved this major milestone in our short history as a company. We are especially pleased to have accomplished this major milestone in the face of the Covid-19 Pandemic which has caused major uncertainty and disruption in world markets, including, Canada. Canntab has continued to work diligently to build shareholder value during this crisis as we are designated an essential business. Signing our first purchase order with a quality partner having a global reach such as MediPharm is simply the tip of the iceberg for Canntab.”
“We’re pleased to be working with Canntab who are leading the way in manufacturing innovative cannabis based tablets,” stated Pat McCutcheon, Chief Executive Officer, MediPharm. “With MediPharm’s robust supply chain and established distribution channels, we are excited to roll out novel high quality tablet products in the coming months to medical and adult-use consumers across Canada.”
Canntab has filed 13 patents in Canada and United States that cowl a vary of processes and formulations that it makes use of to create its precision oral supply exhausting tablets, the way forward for medical hashish. These patents embrace Canntab’s proprietary nano-emulsification expertise, granulation course of, strategies of producing, and covers its full line of precision oral supply exhausting tablets together with; Instant (Immediate) Release Tablets, Extended Release Tablets, Oral Dissolvable Tablets and Bi-Layered (Modified Release) Tablets. Canntab has additionally filed a patent for an unique formulation of THC and CBD for the remedy of opioid dependancy remedy remedy.
About Canntab Therapeutics
Canntab Therapeutics is a Canadian biopharmaceutical firm targeted on the manufacturing and distribution of a suite of exhausting tablet cannabinoid formulations in a number of doses and timed-release combos. Canntab’s proprietary exhausting tablet cannabinoid formulations present docs, sufferers and customers with medical grade options which incorporate all of the options one would count on from any prescription or over-the-counter medicine offered in Canadian pharmacies. These will embrace the next formulations: as soon as a day and prolonged launch, each offering an correct dose and improved shelf stability. The way forward for medical cannabinoid options.
Canntab holds a Cannabis Standard Processing & Sales for Medical Purposes Licence, a Cannabis Research Licence, and an Industrial Hemp Licence from Health Canada.
Additionally, Canntab via its wholly owned American subsidiary is within the course of of building a CBD manufacturing and distribution enterprise in Florida, USA.
Canntab trades on the Canadian Securities Exchange beneath the image PILL, on the OTCQB beneath the image CTABF, and on the Frankfurt Stock Exchange beneath the image TBF1.