TORONTO, Feb. 7, 2022 /CNW/ - Canntab Therapeutics Limited (CSE:PILL) (OTCQB:CTABF) (FRA:TBF1) (the "Company" or "Canntab"), a leading innovator of cannabinoid and terpene blends in hard pill form for therapeutic applications, is pleased to announce a strategic planning collaboration and commercial partnership to create an Indigenous Opiate and Illicit Drug Crisis Plan (the "Plan") lead by First Nations community leader Chief Adam Pawis of the Shawanaga First Nation.
The Plan includes Canntab providing direct online access through a First Nations specific web portal designed to service Indigenous communities and their members nationwide, both on and off First Nations territories. The goal in entering into this partnership is to provide health and wellness solutions to over 100,000 patients, helping to mitigate opiate use and abuse and other medical issues utilising Canntab's products.
The Canntab web portal will provide First Nations-Inuit and Indigenous Peoples with customised access to Canntab's offering of patented and proprietary pharmaceutical grade cannabidiol ("CBD") and tetrahydrocannabinol ("THC") in solid dose pills and caplets. Canntab's alternative solutions will be made available online to service the most remote First Nation's communities and its members regardless of location.
Chief Pawis and the Shawanaga First Nation that he leads, are proud members of the Robinson Huron Treaty Territory in Ontario, Canada. In his leadership role, Chief Pawis aims to eradicate opiate and illicit drug use in his and other communities throughout the First Nations through the creation of the Plan, a culturally sensitive strategic community plan developed in collaboration with Canntab.
"ahnii kinawaia (hello everyone), I am extremely excited to have an opportunity to contribute to the better health of our First Nation communities and individual members by working in collaboration with Canntab. Current opiate, and other health treatments, are expensive and therefore have been largely ineffective as our people continue to experience. The current opiate and illicit drugs epidemic is an extremely trying crisis for many of our community members and their extended families, including our community elders and grandparents, as they are called upon to provide essential and important additional family care and support in the twilight of their own lives. We need to do more to address this crisis, which continues to cause more deaths than the Covid-19 pandemic. In collaboration with Canntab, our goal is to ensure every First Nation-Inuit, and Indigenous person across Canada has immediate ease of access to Canntab's healthy alternative medicinal solutions to opiate and illicit drugs, regardless of community remoteness or geographical location. Our shared efforts are dedicated to creating a clear path where no individual or family is left behind without direct immediate access to Canntab's alternative medicinal CBD and THC offerings," said Chief Pawis.
"The current environment surrounding the Covid-19 pandemic has limited individual movement, further isolating the First Nations communities across Canada. Canntab is very pleased to provide easy online and direct access to First Nations and their members nationwide, both on and off the First Nations reserves/territories, and from within their own home communities, regardless of location through a web portal developed to specifically service Indigenous communities' health and wellness needs. Canntab is well positioned to provide community members alternative treatments for pain management, sleep, alcohol and drug addictions and other overall general well-being solutions" stated Chief Executive Officer, Larry Latowsky.
Since 2017, First Nations have seen an increase in opioid-related poisonings and deaths, primarily due to the growing presence of fentanyl in the unregulated drug supply. First Nations are significantly overrepresented in opioid-related deaths, with a mortality rate approximately four times higher than the rest of the population. Off-reserve First Nation individuals and those aged 44 years and younger have been impacted even more. The opioid use epidemic has been disrupting families and entire Indigenous communities across Canada for many years and has now been amplified by the Covid-19 pandemic. The use of opioids and other substances, including fentanyl-related poisoning, continues to surge during the Covid-19 pandemic, during which time the number of First Nation deaths attributed to opioid poisonings more than doubled and the First Nations continue to be disproportionately affected.
The Plan will make Canntab's full suite of oral tablet products, which include a comprehensive range of THC and CBD strengths, available to First Nations, Inuit and Indigenous communities and their members across Canada.
The Canntab hard tablet delivery format is easy to administer and is also titratable, due to the availability of multiple strengths. The ability to customize dosage makes Canntab's suite of products the ideal choice for Elders and patients with substance use disorders related to the use of opiates and other related painkillers and illicit drugs as well as chronic pain, and addictions including drugs and alcohol.
"Indigenous mental health issues and conditions that have been caused by elevated trauma relating to the now disclosed history of the 60's Scoop and Residential Schools can also be addressed," Chief Pawis further stated.
Dawn Tabobondung, Chief Executive Officer of First Nations Growers GP Inc. commented, "I am very excited to play a role in the Plan as opiates and illicit drugs continue to devastate indigenous and non-native communities across Canada. Canntab is to be commended in our shared efforts to address and provide better health solutions for indigenous peoples. I am especially proud that our shared Plan includes ensuring that healthy alternative solutions and products approved by Health Canada, under the Canntab corporate umbrella, will "specifically" reach both Ontario and Canada's most northern and remote First Nation communities through Canntab's easy accessible, indigenous specific, online web portal.
My grandmother Chief Flora Tabobondung was Awarded the Royal Order of Canada for her continued efforts as Chief for 27 consecutive years contributing to the betterment of indigenous peoples. I am proud to follow in her footprint in contributing to the betterment of the indigenous peoples across Turtle Island."
Mr. Latowsky further stated, "the Plan really is a game changer, as not very often can an initiative be undertaken that benefits the general wellness of people, attacks an addiction crisis in a community and for our shareholders has the potential to generate substantial positive revenues and profits."
The Plan is being conducted through an agreement with First Nations Growers GP Inc. The agreement is for an initial one-year term, which is renewable, and provides for a cash fee of $ 30,000 for start-up costs and an issuance of 1,000,000 warrants upon the satisfaction of specified milestones and regulatory approval, which are exercisable into one common share of Canntab at price of $0.80 per warrant for a period of 24 months.
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, 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 and goals of the Company; affiliates recommending and prescribing the Company's products; the future product offerings and distribution channels of the Company, including the Company's website; the Company providing a web portal specific to the First Nations-Inuit and Indigenous Peoples and fulfilling the Plan; the Plan being successful; the First Nations-Inuit and Indigenous Peoples utilizing the Company's web portal and buying the Company's products; the Company helping to curb the opiate and illicit drug epidemic; and the success of the agreement with First Nations Growers GP Inc and its continued renewal.
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, adoption 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; continued growth of the Company; the Company hitting its future plans and goals; affiliates will recommend and prescribe the Company's products; the Company providing a web portal specific to the First Nations-Inuit and Indigenous Peoples and fulfilling the Plan on its anticipated timeline; the Plan being successful; the First Nations-Inuit and Indigenous Peoples utilizing the Company's web portal and buying the Company's products; the Company helping to curb the opiate and illicit drug epidemic; and the agreement with First Nations Growers GP Inc being continued and successful.
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 and/or meet its goals; risk that the Company will not grow as anticipated; risks that consumers will not purchase its products; risks that affiliates will not recommend and prescribe the Company's products; risks that the Company will not meet its anticipated timelines; risk that the Company will not complete the web portal and/or that the web portal will not be utilized by the First Nations-Inuit and Indigenous Peoples; risk that the Plan will be unsuccessful; risk that the First Nations-Inuit and Indigenous Peoples will not utilize the Company's web portal and buy the Company's products; risk that the Company will be unable to help curb the opiate and illicit drug epidemic; and risk that the agreement with First Nations Growers GP Inc will be cancelled, be unsuccessful and/or not renewed.
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
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