TORONTO, Jan. 10, 2022 /CNW/ - Canntab Therapeutics Limited (CSE:PILL.CN) (OTCQB:CTABF) (FRA:TBF1.F) (the "Company" or "Canntab"), a leading innovator in cannabinoid and terpene blends in hard pill form for therapeutic applications, is pleased to provide an update on its recent product deliveries for Ontario and Australia.
On January 7, 2022 Canntab completed its first shipment of 5 mg THC tablets to the Ontario Cannabis Store ("OCS"). Additionally, in early December 2021, Canntab completed its second shipment of both THC and CBD tablets to Australia.
Larry Latowsky, Chief Executive Officer of Canntab commented "Our initial delivery to the OCS is a first for us and marks the beginning of a productive and growing relationship. Our product will be available to all Ontario Cannabis stores for purchase in addition to being available for sale via the OCS website. We will support the sales and distribution of the Canntab brand with strong marketing materials and point of sale programs, engaging expert teams to educate all Ontario budtenders about the unique nature of Canntab's products and its patented delivery system. We are encouraged as well with our future listing of CBD products which will ship to the OCS in early spring 2022."
Latowsky further stated that "Our second shipment to Australia is a signal of the acceptance and success of our product in the Australian market. We anticipate an ongoing flow of orders from this market as our partners now have the confidence to roll our products throughout the country. This really is the beginning of our full-scale commercialization with these shipments; our announcements of affiliate partnerships and the anticipated hard launch of our website later this month, that will permit all Canadians access to our products for ease of online purchase and direct to home delivery via www.canntab.ca."
Since receiving a Medical Sales License from Health Canada on November 11, 2021, Canntab has been focused on the full commercialization of its brand and products. The OSC initial shipment and Australian 2nd shipment are just 2 examples of what is expected to be numerous developments in the very near future. In addition, affiliates across Canada like pharmacy groups, health and wellness practitioners, sleep and pain clinics and other medical professionals will now be able to recommend or prescribe our product and be fully compensated.
About Canntab Therapeutics Limited
Canntab is a Canadian phytopharmaceutical company focused on the manufacturing and distribution of a suite of hard pill cannabinoid formulations in multiple doses and timed-release combinations. Long referred to as Cannabis 3.0 by the Company, Canntab's proprietary hard pill cannabinoid formulations provide doctors, patients and consumers with medical grade solutions which incorporate all the features one would expect from any prescription or over the counter medication sold in pharmacies around the world. These include once a day and extended release formulations, both providing an accurate dose and improved shelf stability.
Canntab holds a Cannabis Standard Processing & Sales for Medical Purposes License, and a Cannabis Research License from Health Canada.
Canntab trades on the Canadian Securities Exchange under the symbol PILL, on the OTCQB under the symbol CTABF, and on the Frankfurt Stock Exchange under the symbol TBF1.
Notice Regarding Forward Looking Statements
This press release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. These statements relate to future events or future performance. The use of any of the words "could", "intend", "expect", "believe", "will", "projected", "estimated" and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on the Company's current belief or assumptions as to the outcome and timing of such future events. The forward-looking information and forward- looking statements contained herein include, but are not limited to, statements regarding: the adoption of the Company's products; the future plans of the Company, including the marketing and utilization of the OCS as a distribution channel for the Company and the growth of the Australian market; affiliates recommending and prescribing the Company's products; and the future product offerings and distribution channels of the Company, including the Company's website, OCS and Australia and the anticipated timelines.
Forward-looking information in this news release are based on certain assumptions and expected future events, namely: the Company's ability to continue as a going concern; the continued commercial viability and growth in popularity of the Company's products; continued approval of the Company's activities by the relevant governmental and/or regulatory authorities; the Company continuing to develop products; growth of the Company through the OCS and Australia; affiliates will recommend and prescribe the Company's products; and the Company's website launching on its anticipated timeline.
These statements involve known and unknown risks, uncertainties and other factors, which may cause actual results, performance or achievements to differ materially from those expressed or implied by such statements, including but not limited to: the potential inability of the Company to continue as a going concern; risks associated with potential governmental and/or regulatory action with respect to the Company's operations; competition within the industry; risks that the Company will be unable to execute its plans; risk that the Company will not grow as anticipated; risks that consumers will not purchase its products through the OCS or in Australian; risks that affiliates will not recommend and prescribe the Company's products; and risks that the Company will not meet its anticipated timelines.
Readers are cautioned that the foregoing list is not exhaustive. Readers are further cautioned not to place undue reliance on forward-looking statements, as there can be no assurance that the plans, intentions or expectations upon which they are placed will occur. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated.
Forward-looking statements contained in this news release are expressly qualified by this cautionary statement and reflect the Company's expectations as of the date hereof and are subject to change thereafter. The Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, estimates or opinions, future events or results or otherwise or to explain any material difference between subsequent actual events and such forward-looking information, except as required by applicable law.
SOURCE Canntab Therapeutics Limited
For further information: Canntab Therapeutics Limited, Larry Latowsky, Chief Executive Officer, +1 833 301-3812, [email protected]; Richard Goldstein, Chief Financial Officer, +1 833 301-3812, [email protected]