BARRANQUILLA, Colombia,
October 14, 2016 /PRNewswire/ --
New Colombia Resources, Inc.(OTC: NEWC) (the "Company"), a U.S.
listed Colombian resource company with premium metallurgical coal
and medical marijuana assets, is pleased to announce they will be
applying for an orphan drug designation with their collaboration
partners, Advanced Imaging Projects, LLC (AiP) for regulatory
agency approvals of a cannabinoid pharmaceutical product for
multiple medical indications with a focus on treatment of a rare
pediatric disease. Once the application is submitted the
designation and/or comments are expected within 90 days. The
Company expects to file the application in the next 60 days.
Other companies with cannabis drug applications with the FDA
include, GW Pharmaceutical (NASDAQ: GWPH), Zynerba Pharmaceuticals
(NASDAQ: ZYNE), and INSYS Therapeutics (NASDAQ: INSY). These
designations confer significant advantages including waiver of
application filing fees, expedited approval, government grants, and
reduced number of patients in clinical trials. Dr. Stanley Satz , Chairman and Chief Scientific
Officer of Advanced Imaging Projects stated, "My sense is that by
working together with New Colombia Resources, similarly we could
obtain this for the cannabinoid under development."
New Colombia Resources and Advanced Imaging Partners have been
in discussions and meetings in the U.S. and Colombia for the past year and are building a
team of physicians, biostatisticians, and toxicologists in
preparedness of FDA trials and a pre- IND meeting. With many
more states expected to approve medical marijuana in the upcoming
elections, including Florida, they
feel it is the best time to submit the application which they've
been working on for the past year.
The joint venture will seek the collaboration of Colombia's Ministry of Health for the clinical
trial to be conducted in Colombia.
The Ministry has publicly expressed interest in bringing
Cannabis research to Colombia and
the Company feels their project is in line with this aspiration. In
late August, New Colombia Resources received a letter from the
Presidency of Colombia directed to
the Health Minister requesting his assistance on behalf of the
company's medical marijuana project. "There would be great personal
satisfaction in this project as I lived in Colombia for 5 years while working for the
World Health Organization there," further commented Dr. Satz.
To view or purchase cannabis based products from the Company's
medical marijuana joint venture in Colombia, Sannabis, visit
http://www.sannabis.co. Follow Sannabis on Facebook for photos and
testimonials at
https://www.facebook.com/sannabis.cannamedicinal
New Colombia Resources, Inc.
New Colombia Resources, Inc. is focused on the acquisition and
development of high-quality metallurgical coal properties and other
available resources in the Republic of Colombia. They expect to have several revenue
producing businesses including; metallurgical coal mining and rock
quarry aggregates for domestic Colombian highway and railroad
building projects. The Company owns 100% of La Tabaquera
metallurgical coal mine in Colombia with an estimated 15- 17 million
tonnes of reserves. They have another pending acquisition for 390
ha and a solicitation contract for 184 ha metallurgical coal
concession. New Colombia Resources also holds a significant
position in Sannabis SAS which legally produces medical marijuana
products in the Republic of Colombia, visit http://www.sannabis.co. For
more information on the Company visit
http://www.newcolombiaresources.com.
Forward Looking Statements
Forward Looking Statements; This Press Release includes
forward-looking statements within the meaning of Section 27A of the
Securities Act of 1933 and Section 21E of the Securities Act of
1934. A statement containing works such as "anticipate," "seek,"
intend," "believe," "plan," "estimate," "expect," "project,"
"plan," or similar phrases may be deemed "forward-looking
statements" within the meaning of the Private Securities Litigation
Reform Act of 1995. Some or all of the events or results
anticipated by these forward-looking statements might not occur.
Factors that could cause or contribute to such differences include
financing, the future U.S. and global economies, the impact of
competition, and the Company's reliance on existing regulations.
New Colombia Resources, Inc. does not undertake any duty nor does
it intend to update the results of these forward-looking
statements.
Contact Information
Media/Company Contact:
New Colombia Resources, Inc.
John Campo
President/Chairman
+(1)-410-236-8200 USA
+(57)-318-657-0918 Colombia
jcampo@newcolombiaresources.com
SOURCE New Colombia Resources Inc.