Canntab Therapeutics Limited, the innovator in cannabinoid and terpene blends in hard pill form for therapeutic application, announces that it intends to issue 500,000 common share purchase warrants to Larry Latowsky and that, subject to Health Canada approval, Canntab intends to appoint Larry Latowsky as a Director and Executive Chairman of the Board.
Each Replacement Warrant will be exercisable at a price of $0.60 per share until March 4, 2025. Issuance of the Replacement Warrants is subject to Mr. Latowsky’s agreement to cancel an equivalent number of common share purchase warrants exercisable at a price of $1.00 per share. The Replacement Warrants will be subject to a vesting schedule, with 100,000 vesting on the date of issuance, 200,000 vesting on the first anniversary thereof, and 100,000 vesting on each of the second and third anniversaries of issuance.
Mr. Latowsky is in the process of obtaining Health Canada approval to his planned appointment as Director and Executive Chairman of the Company. “Subject to approval of Health Canada, it is Canntab’s intent to have Mr. Latowsky become its Executive Chairman of the Board and lead the commercialization strategy with great emphasis on distribution channels around the world” says Richard Goldstein, Co-Founder and Chief Financial Officer of Canntab. Mr. Latowsky graduated from the Toronto ICD-Rotman Directors Education Program at the Rotman School of Management in May of 2011.
“I am excited to be part of the Canntab team. Over the past several months as an advisor I have realized my decision to associate with the right company in this space has been confirmed,” said Larry Latowksy. Mr. Latowsky continues, “The experienced people, the cost-conscious philosophy and approach, the utilization of resources and above all the unique differentiated offering is in my opinion a balanced recipe for success for all stakeholders. As an experienced director and chair I am very excited to lead Canntab as executive chairman to guide strategic direction that will ultimately lead to increasing shareholder value.”
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.