United Cannabis Corp. (OTCQB: CNAB) is engaged within the research, development, and commercialization of CBD-based medical treatments for a wide variety of ailments. Shares of the cannabis medical company are increasing 4.29%, through afternoon trading on Tuesday, June 20, 2017. Over the past month, United Cannabis Corp. has seen average daily volume of 230,405 shares. However, volume of 59,048 shares or dollar volume of $64,657, has already exchanged hands on Tuesday.
Shares of United Cannabis Corp. are gaining today, after the company announced it has signed a Letter of Intent with a Louisiana-based company to help obtain licensing for a medical marijuana facility. The company plans to operate the facility for Southern University. Here is the full press release detailing of the therapeutic marijuana facility:
United Cannabis Corp. Press Release:
DENVER, CO / ACCESSWIRE / June 20, 2017 / United Cannabis Corp. (OTCQB: CNAB) (the “Company” or “United Cannabis”) today announced that it has signed a Letter Of Intent (“LOI”) with a Louisiana-based company to assist it in the pursuit of a contract to be the sole operator of a therapeutic marijuana facility for Southern University.
According to the terms of the Letter of Intent, the Company will assist in preparing a response to a Request for Application (“RFA”) anticipated to be issued by Southern University, who has been granted a license by the State of Louisiana to be a therapeutic marijuana producer. This license would include responsibilities to build and operate a facility, cultivate, process, extract, and manufacture products.
Earnest Blackmon, Chief Executive Officer of United Cannabis Corp., commented on the announcement, “As United Cannabis continues to build our presence within the industry, we are experiencing an increased demand for our expertise as more states recognize the benefits of medical cannabis and seek to establish legal and effective operations within their localities. We look forward to working with our partner to broaden access to medical cannabis for patients in Louisiana.”
About United Cannabis Corp.
United Cannabis Corp. is a biotechnology company dedicated to the development of phytotherapeutic 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 further information, please visit www.unitedcannabis.us.
For further information, please visit www.unitedcannabis.us.
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 eventscould 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.