United Cannabis Corporation To Construct Industrial Hemp Contract Processing Facility And Fulfillment Center
December 27 2017 - 8:45AM
InvestorsHub NewsWire
Operation Will Enable Colorado Farmers To
Convert Crops Into A Variety Of Products For Resale and
Research
Denver, CO --
December 27, 2017 -- InvestorsHub NewsWire
-- United Cannabis Corporation (OTCQB:
CNAB) (the “Company” or “United Cannabis”) today announced that
it has secured an industrial building in Colorado where the Company
will construct a state-of-the-art industrial hemp processing plant
(the “Facility”) to provide contract manufacturing to farmers
working under the 2014 Federal Farm Bill and Colorado’s Department
of Agriculture's Industrial Hemp Program. The multi-function
Facility will include extraction, purification, testing and
processing equipment, as well as packaging, fulfillment, and secure
storage capabilities.
Services offered by the
Company will enable farmers to convert harvested industrial hemp
plants into a range of products, from simple extracts to capsules
to sublingual drops, and have them packaged for resale. The
processing plant will also have the capability to process raw hemp
seed through cold press extraction. Valuable fibrous bi-products
generated through the processing will also be collected for sale to
a wide range of consumer product industries.
Colorado-grown hemp
accounts for more than half of U.S. domestic hemp production,
according to Duane Sinning, assistant director of the Colorado
Department of Agriculture’s plant industry division. The Denver
Post reports farms around the state are expected to harvest up to
9,000 acres of hemp in 2017, compared with just 200 acres in 2014.
The harvest yielded 5,900 acres last year and 2,200 acres in
2015.
Earnest Blackmon, Chief
Executive Officer of United Cannabis, commented on the
announcement, “We decided to establish this facility in the face of
growing demand for Colorado-grown hemp products. Farmers are
dedicating their resources to optimizing grows to yield high
quality plants, but many do not have the expertise or equipment
on-site to process the plants, and are therefore left to sell their
harvest at commodity pricing.”
Blackmon went on to say,
“By applying the technologies and GMP protocols we have developed
through our previous medical cannabis experience, our Facility will
enable them to extract the highest quality phytocannabinoids,
terpenes, terpenoids, and flavonoids from their harvest. We will
provide Colorado hemp farmers with the resources necessary to
generate real value added, and in turn, higher margins, by creating
finished products suitable for research or distribution in the
State of Colorado.”
About
United Cannabis Corporation
United Cannabis Corporation is a
biotechnology company dedicated to the development of
phyto-therapeutic based
products supported by patented technologies for the pharmaceutical,
medical, and industrial markets. The Company has long advocated the
application of cannabinoids for medical applications and is
building a platform for designing targeted therapies to increase
the quality of life for patients around the world. Most of the
Company’s products are patent protected first in class medicines
with applications to a global market. United Cannabis trades on the
OTCQB under the symbol CNAB.
For further information, please
visit www.unitedcannabis.us.
Contact:
Staff@UnitedCannabis.us
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.