DENVER – United Cannabis Corporation (OTC: CNAB) (the “Company” or “United Cannabis”) today announced that it has initiated distribution in the Cayman Islands for its patented Prana Hemp products as well as hemp-derived extracts.
In November 2016, Cayman Islands Governor Helen Kilpatrick approved changes to the Island’s Misuse of Drugs Law, allowing for the “use of cannabis extracts and tinctures of cannabis for medical or therapeutic purposes, where prescribed by a medical doctor licensed in accordance with the Health Practice Law as part of a course of treatment for a person under that medical doctor’s care.”
However, as commercial cultivation and processing are not currently permissible on the Cayman Islands, products must be imported from registered importers who have been issued a permit through the Health Services Authority.
Earnest Blackmon, Chief Executive Officer of United Cannabis, commented on the announcement, “Demand for cannabis and hemp-derived products continues to grow within the Cayman population, as well as the surrounding Caribbean islands. Since the regulatory infrastructure doesn’t presently allow for domestic production, we recognized a real opportunity for United Cannabis to offer our Prana Hemp products to patients in this market.”
Blackmon went on to say, “At this time we are meeting this demand through production here in the United States, however, I expect this will shift to our Jamaica facility as it comes online.”
About United Cannabis Corporation
United Cannabis Corporation is a biotechnology company dedicated to the advancement 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 develops, produces and distributes proprietary cannabis-centric products and technologies, including its patented product brand, Prana Bio Nutrient Medicinals, and has established a strong presence in the hemp-derived CBD market, with a state-of-the-art grow, processing, testing and production facility in Colorado. United Cannabis also licenses its intellectual properties relating to the legalized growth, production, manufacture, marketing, management, utilization and distribution of medical and recreational marijuana and marijuana-infused products. Most importantly, United Cannabis is always driven by its underlying mission to help people in pain.
United Cannabis trades on the OTC under the symbol CNAB.
For further information, please visit www.unitedcannabis.us.