United Cannabis Corporation Establishes Distribution of Its Branded Prana Hemp Products and Hemp-Derived Extracts to the Cayman Islands
Currently, Only Registered Entities Are Legally Allowed To Import Products To The Island
DENVER, Aug. 06, 2019 (GLOBE NEWSWIRE) -- United Cannabis Corporation (OTC: CNAB) (the “Company” or “United Cannabis”) today announced that it has initiated distribution in the Cayman Islands for its as well as hemp-derived extracts.
In November 2016, Cayman Islands Governor Helen Kilpatrick approved changes to the Island’s Misuse of Drugs Law, allowing for the “use of cannabis extracts and tinctures of cannabis for medical or therapeutic purposes, where prescribed by a medical doctor licensed in accordance with the Health Practice Law as part of a course of treatment for a person under that medical doctor’s care.”
However, as commercial cultivation and processing are not currently permissible on the Cayman Islands, products must be imported from registered importers who have been issued a permit through the Health Services Authority.
Earnest Blackmon, Chief Executive Officer of United Cannabis, commented on the announcement, “Demand for cannabis and hemp-derived products continues to grow within the Cayman population, as well as the surrounding Caribbean islands. Since the regulatory infrastructure doesn’t presently allow for domestic production, we recognized a real opportunity for United Cannabis to offer our Prana Hemp products to patients in this market.”
Blackmon went on to say, “At this time we are meeting this demand through production here in the United States, however, I expect this will shift to our facility as it comes online.”
About United Cannabis Corporation
United Cannabis Corporation is a biotechnology company dedicated to the advancement 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 develops, produces and distributes proprietary cannabis-centric products and technologies, including its patented product brand, Prana Bio Nutrient Medicinals, and has established a strong presence in the hemp-derived CBD market, with a state-of-the-art grow, processing, testing and production facility in Colorado. United Cannabis also licenses its intellectual properties relating to the legalized growth, production, manufacture, marketing, management, utilization and distribution of medical and recreational marijuana and marijuana-infused products. Most importantly, United Cannabis is always driven by its underlying mission to help people in pain.
United Cannabis trades on the OTC under the symbol CNAB.
To discuss partnership opportunities or learn about our distributor program, contact Tres Walsh () or (720) 903-4656.
To discuss licensing the Company’s patented technologies, please contact our General Counsel, Jesús M. Vázquez, at or 800-701-1370.
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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.
