Canntab Therapeutics Ltd C.PILL

Primary Symbol: CTABF

Canntab Therapeutics Limited 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. The Company’s operations comprise a single segment engaged in the medical marijuana business. The Company’s hard pill cannabinoid formulations provide doctors, patients, and consumers with medical grade solutions. These include once a day and extended-release formulations. Its products include INSTANT RELEASE - (IR Tablet), EXTENDED-RELEASE - (XR Tablet), and ORAL DISSOLVING - O.D. Tablet (ODT). The IR Tablet is a release profile for solid hard tablets. The XR Tablet is a phytocannabinoid vehicle that is designed to directly address the drawbacks and challenges of competing oral delivery systems. ODT is specifically designed to dissolve directly in the patient’s mouth, with an onset of action between five and thirty minutes.

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Canntab Therapeutics Ltd > Fins on sedar

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Comment by lscfaon Feb 06, 2020 4:00pm

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Post# 30654014

RE:Fins on sedar

As predicted, PP launched....

Canntab Therapeutics

For Immediate Release

2020_02_06

CANNTAB ANNOUNCES NON-BROKERED PRIVATE PLACEMENT

TORONTO, February 6th, 2020/ – Canntab Therapeutics Limited (CSE:PILL.CN)(OTCQB:CTABF) (FRA:TBF1.F) (the “Company” or “Canntab“), the leading innovator in cannabinoid and terpene blends in hard pill form for therapeutic application, is pleased to announce that it is launching a private placement (the “Private Placement”) of up to $2.5 million of units (“Units”), subject to the Company’s over-allotment option to increase the size of the Private Placement by up to an additional $1.5 million, at a price of $0.50 per Unit, with each Unit consisting of one common share and one full warrant to acquire an additional common share at a price of $0.75 per share for a period of two years. Canntab expects to close the Private Placement on or before February 20^th, 2020.

The proceeds from the Private Placement will be used for:

Canntab’s expansion through its wholly owned US subsidiary Canntab USA, Inc. into the State of Florida jointly with Exactus Inc. for the manufacture of a CBD hard pill (non-THC) in formulations for sale and distribution across the United States.
A trial with the University of British Columbia to research the effect of opioid sparing high formulation with Canntab’s bi-layered CBD/THC controlled release formulations for post-operative pain care.
Clinical 3-way crossover blood level study to further the Company’s research of its solid oral dose formulations, including extended release, immediate release, and multi-particulate formulations.
Expansion of the Company’s facility in Markham, Ontario Canada.
Chemistry analysis and third-party testing of products for New Cannabis Product applications for Health Canada.
Manufacturing inputs needed to build inventory of products for sale and distribution.
General working capital purposes.

“We accomplished the goals that we set out for ourselves almost 2 years ago, and we are now at the doorstep for the full-scale manufacturing and distribution of our innovative medical cannabis solutions. The proceeds from this private placement will strengthen our balance sheet (which remains without any long term debt) and will allow us to take advantage of the opportunities we’ve cultivated, and will establish Canntab as the premiere solution for medical cannabis in Canada, and across the world”, said Jeffrey Renwick, CEO of Canntab.

In connection with the Private Placement, the Company may pay finder fees of up to 7% of the gross proceeds and issue finder warrants of up to 7% of the Units sold, and each being exercisable for one common share at a price of $0.50 for a period of two years.