For immediate release
CANNTAB TO LAUNCH IN AUSTRALIA AND PARTICIPATE IN AUSTRALIA’S LARGEST CANNABIS RESEARCH STUDY
TORONTO, October 26th, 2020 – 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 therapeutic applications, is pleased to announce the impending launch of its suite of hard pill cannabinoid formulations in Australia with its partner CANN Global Ltd. (ASX: CGB) (“CANN Global”) CANN Global through its management partnership with Medcan Australia Pty Ltd (“Medcan Australia”), received an import permit and have placed an initial order for Canntab’s products. Canntab will immediately apply for an export permit with Health Canada, which will allow it to fulfill this purchase order. The Company intends to ship its suite of Patented and Patent Pending products, including THC, CBD and THC/CBD combination hard pill formulations to CANN Global before the end of 2020. Once the products are shipped to CANN Global in Australia, the products will be distributed throughout Australia to medical distributors, including Doctors, Pharmacies, and Hospitals.
Applied Cannabis Research Observational Study
Applied Cannabis Research (“ACR”), a leading Australian contract research organization focused exclusively on medical cannabis treatments, has launched Australia’s largest observational study ever undertaken for medical cannabis. Canntab, through the products it supplies to CANN Global Ltd., which is a direct participant in the study, will be participating in this clinical collaboration with major Australian clinics and hospitals to complete the Cannabinoid Medicine Observational Study (“CMOS”) that will collect data from 20,000 patients nationwide over 5 years. CMOS aims to assess the safety and efficacy of medicinal cannabis products for a range of refractory conditions including fibromyalgia, chronic pain syndromes, PTSD, epilepsy and other mental health and neurological conditions using cannabis, including Canntab’s Hard Pill Cannabinoid Formulations. ACR will lead the study in conjunction with Australia’s medical community and key industry partners such as Althea Group Holdings, Cronos Australia , Cymra Life Sciences , Medcan Australia and Cann Global.
“This deal is two years in the making and represents important milestones for our company,” explains Larry Latowsky, Chief Executive Officer of Canntab. Mr. Latowsky continues, “it is the first of what will be many international alliances and agreements to export our patented products for distribution through our partners’ networks, and it is the first observational clinical study that we are confident will support our vision of our product as unique, effective and the preferred cannabinoid delivery system for many medical symptoms and conditions.”
Sholom Feldman, CANN Global’s Managing Director says: “We are very excited to progress the launch of Canntab’s innovative cannabis-based tablets in Australia which we expect will be very sought-after by Doctors who are looking to prescribe pharmaceutical grade medicinal Cannabis products to their patients. It is our understanding from discussions with medical professionals that it is easier for them to prescribe a uniform dosage tablet produced to pharmaceutical grade standards compared to unreliability of delivery methods used by other products already on the market, giving our product a solid competitive advantage.”
The legal cannabis market is expected to be worth US$1.55 billion by 2024 in Australia, New Zealand and the surrounding islands, with medicinal cannabis accounting for approximately 40% of the market.
Australia is expected to account for 79% of the region’s overall market by 2024, due to a comparably larger population and higher household disposable income than New Zealand and the islands across the region.
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.
For further information:
Chief Executive Officer
+1 833 301-3812
Chief Financial Officer
+1 833 301-3812
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.
This press release contains forward-looking statements. Forward-looking statements are statements that contemplate activities, events or developments that the Company anticipates will or may occur in the future. Forward-looking statements in this press release include those regarding the Company’s patent being used to successfully treat nicotine, alcohol, cannabis, opioid and other forms of addiction, and the Company’s plan to rely on the patent and additional patents issued in the future to develop strategic partnerships and alliances and efforts to secure worldwide distribution. These forward-looking statements reflect the Company’s current expectations based on information currently available to management and are subject to a number of risks and uncertainties that may cause outcomes to differ materially from those projected. Readers should refer to the risk disclosure included from time-to-time in the documents the Company files on SEDAR, available at www.sedar.com. Although the Company believes that the assumptions inherent in these forward-looking statements are reasonable, they are not guarantees of future performance and, accordingly, they should not be relied upon and there can be no assurance that any of them will prove to be accurate. Finally, these forward-looking statements are made as of the date of this press release and the Company assumes no obligation to update them except as required by applicable law.