Canntab Therapeutics Limited, the leading innovator in cannabinoid and terpene blends in hard pill form for therapeutic applications, is pleased to announce that it has received its medical sales license from Health Canada for its Markham, Ontario facility, enabling the sale of all products directly to medical consumers.
The amendment marks the final regulatory step required to launch the company’s direct to consumer website, allowing patients across Canada to order online the unique patented exact dosage hard tablets and caplets of THC and CBD in various strengths. Exact dosing is a key element in the Canntab offering in addressing the needs of the medical community.
Larry Latowsky, Canntab’s CEO, stated, “The sales amendment is the most significant milestone to date for our company, and provides Canntab with the legal ability to aggressively move forward with our business plan and full commercialization of our brand and products.” Mr. Latowsky added that, “Our web site (www.canntab.ca) and e-commerce focus will be the primary vehicle in generating sustained and growing revenue. We have been hard at work in soliciting and preparing our many affiliate partners in anticipation of this day for the past many months and look forward to providing essential medical product to their significant groups of customers. Affiliates across Canada like pharmacy groups, health and wellness practitioners, sleep and pain clinics and other medical professionals will now be able to recommend or prescribe our product and be fully compensated.”
Mr. Latowsky further added that, “Over the next several weeks, we expect to announce many partnerships that will extend to a large percentage of the Canadian population to provide specific programs from opiate alternative solutions to general health and wellness programs, as well as the Ontario Cannabis Store and other provincial authorities. A lot of hard work went into achieving this significant milestone and being approved as the first Canadian hard pill THC and CBD medical provider speaks to the dedication of our team and to the patience of our investors as we now move forward to create value for all stakeholders providing solutions for patients across the country.”
Options Granted
Canntab has granted, in accordance with the Company’s stock option plan, an aggregate of 120,000 options to purchase common shares of the Company to two (2) consultants of the Company. Each consultant received 60,000 options. Each option is exercisable at a price of $0.80 per share for a period of two years, expiring November 9, 2023.
OCS Order Schedule
The Company’s initial order to the Ontario Cannabis Stores (“OCS”) scheduled for November, has been rescheduled for January with additional product scheduled for March.
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. Long referred to as Cannabis 3.0 by the Company, 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 pharmacies around the world. 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 License, a Cannabis Research License, and an Industrial Hemp License 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.
