United Cannabis Corporation Signs First Licensing Agreement For Its Patented Technologies With Harborside Health
25 January 2018 - 4:38PM
InvestorsHub NewsWire
Agreement Grants Harborside Rights To The Use
Of The
Company’s Patented Technologies
Denver, CO --
January 25, 2018 -- InvestorsHub NewsWire --
United Cannabis
Corporation (OTCBB:
CNAB) (the “Company” or “United Cannabis”) today announced that
it has entered into a non-exclusive licensing agreement (the
“Agreement”) with Harborside Health Association LLC (“HHA”),
covering the Company’s patented methods of extracting, preparing
and using cannabis.
According to the terms of the Agreement, United
Cannabis has assigned HHA the rights to the methodologies necessary
to manufacture and distribute its own proprietary line utilizing
United Cannabis’ patented technology, in exchange for which, HHA
will pay the Company an agreed upon licensing
fee.
Earnest Blackmon, Chief
Executive Officer of United Cannabis, commented on the
announcement, “We initially sought patents for our technologies to
protect the investment we made in research and development and to
protect our pharmaceutical applications. We’ve been working with
the Harborside team to distribute Prana in California for several
years now, so it is fitting that we are signing our first licensing
agreement with them, and they truly recognize the value of our
technology and patent.”
Tony Verzura, the
Company’s Chief Technology Officer, added, “I am excited about the
opportunity to further foster our relationship with a Harborside
product line and expand our patented technology in the medical
cannabis industry”.
Blackmon went on to say,
“While we perfected these methodologies in the course of developing
the United Cannabis product portfolio, we are also
cognizant of the value these protocols have to others in the
cannabis and hemp industry. We have found a number of participants
utilizing technology protected by our patent – which covers any
cannabinoid mixture delivered in an aqueous solution --
and have identified several that are
interested in licensing our technology to ensure authorized use
within their operations. I expect that this will be the first of
many such agreements that we enter into.”
Steve DeAngelo, Founder
of Harborside, added, “There are so many untested products in the
medical cannabis space, a trend which I expect will continue as
more participants enter the market. Since so many of our patients
are receiving great benefit from the Prana Bio Nutrient line, we
felt it was important to ensure that we are always able to offer it
at our facilities. This license provides us with a real competitive
advantage in the market; not only do we have access to United
Cannabis’ expertise, it also certifies to our customers that they
are purchasing Prana from an authorized provider.”
About Harborside Health
Center
Founded in 2006 by Steve DeAngelo,
Harborside Health Center is the most respected and largest medical
cannabis dispensary in the United States. Harborside has over
300,000 registered patients and was first in the nation to support
education for seniors, veterans and families with severely ill
children; first in the country to offer CBD-rich medicine; and the
first to treat children with Dravet syndrome. Harborside continues
to set an example of diversity and compliance, and is one of the
prime advocates of diversity, sustainability and economic justice
in the industry.
DeAngelo also co-founded the
nation’s first cannabis-testing facility, Steep Hill Labs, and the
country’s first cannabis investment and research firm, The ArcView
Group. His book, ‘The Cannabis Manifesto: A New Paradigm for
Wellness’, is published by North Atlantic Books and distributed by
Penguin/Random House. DeAngelo was named one of the most
influential people and “gatekeeper” of the marijuana industry in
2015 by the International Business Times, and one of the most
powerful people in the cannabis industry in 2016 by Fortune
Magazine.
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 first in
class medicines with applications to a global market. Most of
the Company’s products are patent protected. 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 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.