United Cannabis Corporation Industrial Hemp Facility Commences Extraction Operations
February 27 2018 - 8:40AM
InvestorsHub NewsWire
Multi-Function Facility To Launch
Additional Processing Services For Colorado Industrial Hemp
Farmers
Denver, CO
-- February 27, 2018 -- InvestorsHub NewsWire
-- United Cannabis Corporation
(OTCQB:
CNAB) (the “Company” or “United Cannabis”) today announced that
it has initiated extraction services at its Colorado industrial
hemp processing plant (the “Facility”).
The Company established
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 provide customers with the ability to create simple
extracts, capsules and sublingual drops, as well as 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. The
Company will also offer purification, testing and processing
services, as well as packaging, fulfillment, and secure storage
capabilities.
Earnest Blackmon, Chief
Executive Officer of United Cannabis, commented on the
announcement, “We’re glad to have the processing facility up and
running. Colorado farmers account for more than half of U.S.
domestic hemp production, but most do not have the resources to
process their crop beyond harvest. While demand for CBD and other
cannabinoid-centric products continues to grow, the raw plant
material remains a commodity product. Our facility provides farmers
with a viable outlet to introduce their harvested material into the
supply chain, with higher margins for them, which is good news for
everyone in the industry.”
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.