- Agreement with Levitee to service over 35,000 annual patient visits with the aim to help treat their patients with substance use addictions and chronic pain
- Levitee Labs will offer the entire Canntab product lineup throughout all its clinics and pharmacies in Alberta and British Columbia
TORONTO, Dec. 16, 2021 /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 has entered into a service agreement (the "Agreement") with Levitee Clinics Inc. ("Levitee"). Servicing over 35,000 patient visits in last 12 months, Levitee is establishing itself as a leader in the integrative wellness space. Levitee aims to transform mental health and addiction treatments through the integration of alternative medicinal therapies.
Levitee also operates three pharmacies in Alberta specializing in filling prescriptions for patients with substance use disorders, mental health conditions and chronic pain.
Canntab's full suite of oral tablet products including a comprehensive range of both THC and CBD strengths will be made available to Levitee and their patients. Both Canntab and Levitee believe that a hard tablet delivery format will be the preferred dosage format by many of Levitee's patients including more specifically the senior demographic and patients with several issues related to the use of Opiates and other related painkillers, who are largely interested in a product that is easy to administer and is also titratable due to the availability of multiple strengths.
On November 11, 2021, Canntab received its medical sales license from Health Canada for its Markham, Ontario facility, enabling the sale of all products directly to medical consumers. The amendment marked the final regulatory step required to launch the Company's direct to consumer website, allowing patients across Canada with an authorized medical document to immediately order Canntab's unique patented exact dosage tablets and caplets of THC and CBD in various strengths online. Exact dosing and ease of administration are the key elements in the Canntab offering, which specifically addresses the needs of the medical community and patients.
Larry Latowsky, Canntab's CEO states, "we are thrilled that Levitee has partnered with us to support their patient's treatments for pain management, addiction and general mental health. Canntab's product offering is well suited to Levitee's professional practitioners who want to prescribe CBD and/or THC for various therapies as part of their integrative health approach, general well-being as well as to address specific indications. Our exact dosage THC and CBD products are best suited to meet the needs of the thousands of Levitee patients across the province of Alberta and beyond. We look forward to working with Levitee to maximize positive patient outcomes with the use of medical cannabis."
"We share a vision with Canntab to play a meaningful role in flattening the curve of the opioid crisis in Canada by tapering use of addictive painkillers through the substitution of viable alternatives, which can include cannabinoids like CBD and THC and combination thereof," said Noha ElSayed, B.Sc.Pharm, APA, Executive Director, Levitee Clinics and Levitee Pharmacies, Alberta Region. "Notwithstanding the lack of clinical trials for product specific uses, cannabinoids have shown great promise to provide patients relief for multiple indications in which we specialize. I am eager for Canntab to begin servicing our pharmacies and clinics throughout Canada, as it will both drive additional revenue and better serve our patients.
About Canntab Therapeutics Limited
Canntab is a Canadian biopharmaceutical 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 will include the following formulations: once a day and extended release, both providing an accurate dose and improved shelf stability.
Canntab holds a Cannabis Standard Processing & Sales for Medical Purposes License, a Cannabis Research License, and an Industrial Hemp 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 news release contains "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and "forward-looking information" within the meaning of applicable Canadian securities legislation. Often, but not always, forward-looking statements and information can be identified by the use of words such as "plans", "expects" or "does not expect", "is expected", "estimates", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved. 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 ability of Canntab and Levitee to complete the creation of educational resources on Canntab's products; the impact of the Agreement on the Company's business, including Levitee's goals being met and the Company providing its products to Levitee's patients and becoming their preferred dosage format; and Canntab playing a meaning role in flattening the curve of the opioid crisis in Canada.
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 continued growth of the Company; the Company continuing to provide its products under the terms of the Agreement; the Company's products becoming Levitee's patient's preferred dosage format; and Canntab playing a meaning role in flattening the curve of the opioid crisis in Canada.
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 risks associated with the cannabis and pharmaceutical industries in general; increased competition in the cannabis and pharmaceutical markets; the potential future unviability of the Company's products; risks associated with potential governmental and/or regulatory action with respect to the cannabis products; risks associated with a potential collapse in the value of cannabis products; risks associated with the Company's ability to continue generating a profit; the inability of the Company to launch its direct to consumer website; the Company's ability to generate sustained and growing revenue; risks that the Company's products will not be adopted and/or recommended by healthcare professionals; risks associated with a lack of adoption of the Company's products by the senior demographic; the inability of Canntab and Levitee to complete the creation of educational resources on Canntab's products; risks that the Company's products may not carry out the enumerated functions; risk that Levitee and the Company will terminate the Agreement; risk that Levitee will not meet its goals and its patients will not prefer the Company's products; and risks that Canntab will be unable to play a role in flattening the curve of the opioid crisis in Canada.
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.
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SOURCE Canntab Therapeutics Limited
