UNITED CANNABIS CORPORATION GRANTS MINK ENTERPRISES EXCLUSIVE DISTRIBUTION OF P5 SUBLINGUALS IN MALTA
February 13 2018 - 1:17PM
InvestorsHub NewsWire
Agreement Requires $2 Million Minimum Sales
Quota By Year Three
Denver, CO -- February
13, 2018 -- InvestorsHub NewsWire -- United Cannabis Corporation (OTCBB:
CNAB) (the “Company” or “United Cannabis”) today announced that
it has entered into an exclusive distribution agreement (the
“Agreement”) with Mink Enterprises (“Mink”), for the Company’s
patented Prana Bio Nutrient Medicinals P5 Sublingual
Varieties.
According to the terms
of the Agreement, Mink has exclusive distribution rights, within
the territory of Malta, for the following Prana “Bio Nutrient
Medicinals” Sublingual products:
- Prana P5/ Prana Hemp
10ml bottle 400 mg
- Prana “Bio Nutrient
Medicinals”
- Prana Roll-on 10ml
65 mg
The Agreement
also requires that Mink will make an initial minimum order of
$50,000 and requires the following minimum purchases from the
Company for the distribution agreement to remain in
effect:
- $500,000 for the
first year
- $1,000,000 the
second year
- $2,000,000 every
year thereafter.
Earnest Blackmon,
Chief Executive Officer of United Cannabis, commented on the
announcement, “Malta represents a significant opportunity for
United Cannabis, and may well serve as a gateway to the EU, as we
continue to make progress in our efforts to increase the
availability of Prana for patients around the world.”
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. 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
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 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.