CINCINNATI, OH & LOS ANGELES, CA , April 16, 2018 (GLOBE NEWSWIRE) -- Callitas Health Inc. (CSE: LILY, OTCBB: MPHMF, FWB: T3F2), (the "Company" or “Callitas”) an integrated clinical-stage pharmaceutical development and OTC consumer goods marketing company, focused on developing innovative technologies for weight management, female health and wellness, and cannabis delivery technologies today announced that it has signed multiple letters of intent with two separate California-based companies for the licensing, development, and marketing/sales of the Company’s proprietary, patent and trademark-pending CannaMint strips for THC (Tetrahydrocannabinol) and CBD (Cannabidiol) respectively.
The CannaMint technology provides a unique opportunity for cannabis (THC) and CBD processors, distributers, dispensaries, retailers and marketing companies looking to distance themselves in an increasingly competitive marketplace. Callitas has modified its initial licensing-only business model to partner with and supply local and regional Cannabis or CBD businesses after seeing demand for its products.
“Our patented and patent-pending stimulated vasodilation of lingual blood vessels for increased blood absorption and bioavailability of THC and CBD provides a unique foundation to advance the delivery of cannabis,” said James Thompson, Callitas CEO and co-inventor for this patent-pending technology. “Given the demand for some game-changing delivery mechanisms for CBD and THC, we have changed and optimized our business model to commercialize this product in partnership with local and regional businesses. We began our partnerships in California, the largest cannabis market in the United States, and we intend to seek out additional opportunities in other legal cannabis states and countries, as well as with CBD marketing companies nationwide.
The signed letters of intent for the CannaMint distribution in California anticipate mid-five to mid-six figures upfront and annual exclusive license fees, research and development cooperation and wholesale supply agreement(s) for the CannaMint strips to the local partners. R&D collaboration with each partner should lead to additional product development; additional IP will be filed as necessary. Additional information on the distribution agreements will be forthcoming.
Now that Callitas has tested and validated this business model and has the supply and infrastructure in place, they are actively looking for additional business partners in Cannabis legalized states and countries to partner with. Interested parties can contact cannamint@callitas.comfor more information and partnership inquiries.
About Callitas Health
Formed in early 2015, Callitas Health Inc. is a clinical-stage company developing innovative technologies for obesity, weight management and female health & wellness. In addition to its recent acquisitions of C-103, a reformulation of Orlistat, Extrinsa, and assets from 40J’s LLC, the Company successfully launched ToConceive in North America as a clinically proven option for couples struggling with the inability to conceive. www.toconceive.com.
Callitas Health Inc. trades on the Canadian Securities Exchange (CSE) under the ticker symbol “LILY” as well as on the OTCQB as “MPHMF” and FWB (Frankfurt Stock Exchange) as “T3F2.”
Notice regarding Forward Looking Statements: This news release contains forward-looking statements. The use of any of the words "anticipate", "continue", "estimate", "expect", "may", "will", "project", "should", "believe" and similar expressions are intended to identify forward-looking statements. Although the Company believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because the Company can give no assurance that they will prove to be correct. This news release includes forward-looking statements with respect to the regulatory approval and the commercialization of the rights to the Company’s biomedical & drug technologies. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. These statements speak only as of the date of this news release. Actual results could differ materially from those currently anticipated due to a number of factors and risks including various risk factors discussed in the Company's disclosure documents which can be found under the Company's profile on www.sedar.com and the Company’s filings to the CSE at www.cnsx.ca. Such risk factors may cause the inability of the Company to successfully commercialize any of its biomedical technologies.
Notice regarding investigational devices: C-103 and Extrinsa are investigational drugs or devices and are not currently available outside of approved clinical trials. Claims regarding the safety and efficacy of these devices have not been evaluated by Health Canada, the U.S. Food and Drug Administration, or any other international regulatory body.