[ACCESSWIRE]
Company Seeks Approval For Cultivation, Processing, Transportation and Research Of Cannabis
DENVER, CO / ACCESSWIRE / November 10, 2016 / United Cannabis Corporation (OTCQB: CNAB) (the "Company" or "United Cannabis") today announced that its Joint Venture (the "Joint Venture" or "UCANN/CRD"), which is 50% owned with Jamaica-based Cannabis Research & Development ("CRD"), has submitted its application for a license to cultivate, process, transport and conduct research on cannabis within Jamaica.
In keeping with its mission, UCANN/CRD has been working closely with its partners in Jamaica to assemble and prepare all the information and documentation required by the Cannabis Licensing Authority. The application was submitted on November 3 and has been accepted; the review process is expected to begin presently.
Earnest Blackmon, Chief Executive Officer of United Cannabis, commented on the announcement, "This is a significant milestone for our Jamaican team. The cannabis licensing application process is a cumbersome undertaking regardless of the domain. Fortunately, we have a strong business model, considerable experience with the process and a solid partnership with CRD. I am pleased that our application was accepted and expect it will be approved in the near term."
Marcus "Bubbleman" Richardson, Director of CRD, also commented, "While the application has been our primary focus recently, we have also been fine-tuning our business plan and securing the relationships necessary to implement that plan. We are on track and anxious to get to work!"
About UCANN/CRD
UCANN/CRD was established following the approval by Jamaica's Cabinet and Parliament of an Amendment to the Dangerous Drugs Act, providing for the decriminalization of the cultivation, production, possession and use of Ganja (aka cannabis) for medical, therapeutic, and scientific purposes within the country.
About CRD
Cannabinoid Research and Development Company Limited was founded by a small group of Jamaican cannabis advocates, with the cooperation of the Company, who felt that it was high time for, as said in Jamaica, 'freeing up the weed'. Their desires were further buttressed by the government passing legislation to establish medical marijuana and industrial hemp industries in Jamaica. CRD salutes the small farmers and their sacrifices, who have paid the ultimate price of incarceration, persecution and the separation from loved ones. It is the spirit, hope, dreams and aspirations of these people that is embodied in the dream and justification for CRD today.
About United Cannabis Corporation
The Company's Prana Bio Medicinal products provide patients a simple, safe, accurate, and easy way to mix/match cannabinoids for therapeutic purpose. These products, licensed to regulated marijuana dispensaries, are broken into 5 categories that are available in capsules, sublingual's, and topical delivery methods. The Company uses a patent-pending infusion process utilizing select fatty acids, lipids, and specific combination of cannabis derived terpenes to increase bioavailability. Prana Bio Medicinal products are NON-GMO, ethanol free, alcohol free, glycerin free, gluten free, 100% naturally derived, chemical-free, solventless, and hypoallergenic.
For further information, please visit www.unitedcannabis.us.
Contact: [email protected]
Phone: 303-386-7321
Certain statements in this news release may contain forward-looking information within the meaning of Rule 175 under the Securities Act of 1933, are subject to Rule 3b-6 under the Securities Exchange Act of 1934, and are subject to the safe harbors, created by those rules. All statements, other than statements of fact, included in this release, including, without limitation, statements regarding potential future plans and objectives of the company, are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and other results and further events could differ materially from those anticipated in such statements. Future events and actual results could differ materially from those set forth in, contemplated by, or underlying the forward-looking statements.
SOURCE: United Cannabis Corporation
