TORONTO, June 2, 2020 /PRNewswire/ - 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 applications, is pleased to announce that it is today beginning production of its instant release tablets and has already entered into its first purchase agreement with MediPharm Labs("MediPharm") (TSX:LABS)(OTCQX: MEDIF)(Deutsche Borse: MLZ), a global leader in pharma quality cannabinoid based products.
Canntab received its first order under the agreement today, and the value of the full agreement will exceed $1 million. Orders under the agreement will be composed of a mix of Canntab's proprietary instant release tablets delivering THC, CBD and a combination of THC/CBD in 12 different strengths. MediPharm will purchase and distribute cannabis products on a non-exclusive basis across Canada, through licensed provincial dispensaries.
The exact value of shipments under the agreement will be determined no later than June 30, 2020 and will depend on the final concentrations of Canntab's instant release tablets chosen by MediPharm.