United Cannabis Corporation Enters Strategic Partnership with Advesa to Accelerate California Expansion
April 20 2017 - 12:45PM
Access Wire
Flagship Lab Will Serve as Company's Primary
Production and Distribution Facility to Manage Increased Demand
Across California
DENVER, CO / ACCESSWIRE / April 20, 2017 /
United Cannabis Corporation (OTCQB: CNAB) (the "Company" or "United
Cannabis") today announced that it has entered into a Strategic
Partnership with Advesa, a California Corporation ("Advesa"), to
serve as its flagship product manufacturing facility in California
for United Cannabis branded products and technologies, such as
Prana Bio Medicinals, as well as affiliate brands Blue River and
Bubbleman products.
Advesa was designed and created by the Company's Chief
Technology Officer, Tony Verzura, to facilitate the expansion of
United Cannabis branded products, technologies, and its research
and development activities for all global partnerships.
Located in Oakland, California, the 6,000 square-foot
non-volatile facility comprises automated manufacturing, multiple
processing procedures, software tracking systems, employee training
programs and research and development functions.
Under the terms of the partnership, Advesa will provide
pass-through net product revenues from United Cannabis branded
products to the Company, as well as an additional 5% gross
technology fee of any other brands produced at the facility and
sold state-wide.
Verzura commented on the announcement, "Many shareholders have
expressed concern regarding the number of shares I have liquidated
as reported through our public filings. I would like to clarify
that, rather than access high cost capital that could negatively
affect the company, I elected to undertake the licensing process
and fund the project by selling my own personal shares."
Verzura went on to say, "Since establishing a presence in
California, we have worked tirelessly to build a strong product
line and brand recognition for United Cannabis and our affiliates,
Blue River, Prana, Bubbleman; collectively, these three brands have
earned 23 medical cannabis awards including Best CBD Topical, Best
THC Topical, Best CBD Concentrate, Best THC Concentrate, Highest
Terpene Award, Best Vaporizer, and Best Non-Solvent Hash. Advesa
will incorporate all of these technologies and brands in one
facility, allowing us to expand across California, providing access
to patients throughout the State."
Earnest Blackmon, United Cannabis' Chief Executive Officer,
added, "This is a transparent transaction, and is what we believe
is in the best interest of our shareholders. Advesa will add value
and revenue to the Company, and accelerate our ability to expand
throughout California at no additional cost to shareholders. In
addition, if federal laws governing medical cannabis change
throughout the United States, Advesa has extended a purchase option
to United Cannabis."
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 is a pioneer in 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. Our 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, and are subject to Rule 3b-6 under the
Securities Exchange Act of 1934, and are subject to the safe harbor
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.
SOURCE: United Cannabis Corporation