CEO discusses industry adoption of similar innovative delivery technologies by large Cannabis companies including Tilray, Aphria, and Canopy Growth
Baltimore, MD, Oct. 31, 2018 (GLOBE NEWSWIRE) -- The Greater Cannabis Company, Inc. (OTC: GCAN) (“the Company”), a biopharmaceutical company focused on development and commercialization of innovative delivery systems for the Cannabis market, would like to update shareholders on its objectives and roadmap to achieving long term success. The Company has completed development and reformulation of its eluting patch (EPP) for cannabinoid use. The EPP has been successfully developed in the past for pharmaceutical and over the counter (OTC) products, as well as for oral health applications. In preparation for commercializing cannabinoid products, the Company completed extensive testing of its new formulations. The cannabinoid eluting patch was found to have additional benefits over those previously mentioned, and which can be found on the Company’s website. Additional advantages specific to cannabinoid use which were found are the technology’s ability to load high doses of CBD on small 1 inch x 1 inch films with no bitter tastes, the CBD’s ability to maintain a stable form for a very long time with an estimated shelf life of over 12 months at ambient temperature, and the film’s ability to maintain its clear color and integrity, which is indicative of CBD being in an amorphous state, with high bioavailability. Most oral films would have the following problems: Unstable and crystallizing CBD leading to poor bioavailability and bad taste, CBD being oxidized to CBDHD and other degradants leaving the film purple or yellow, and the film becoming brittle over time.
The Company has entered into a new stage of aggressively ramping up its efforts to commercialize the technology through sublicensing and joint venture agreements. Target partners include licensed producers and dealers in the United States, Canada, and abroad, as well as pharmaceutical companies focused on cannabinoids therapies. New delivery systems are making their way into the industry. By way of example, the industry has adopted similar delivery technologies as seen in recent transactions including Cure Pharmaceutical (OTCQB: CURR) and Canopy Growth Corp (NASDAQ: CGC), CTT Pharmaceutical Holdings (OTC: CTTH) and Aurora Cannabis Inc (NASDAQ: ACB), and IntelGenx (OTC: IGXT) and Tilray (NASDAQ: TLRY). In the short period of time since the Company’s formation the sales team has been successful in facilitating top to top discussions with C-level management of some of the largest target companies in the space. Some of these discussions have already advanced to non-binding term sheets, which upon successful due diligence have the ability to materialize into definitive agreements.
The Company’s sole focus now is to bring its licensed technology to market. The technology has the ability to afford consumers a safer alternative to other routes of cannabinoid delivery, many of which have detrimental health effects. As part of its strategic initiative, the Company is seeking to expand its sales team with the intent to grow deal flow, and accelerate the sales cycle.
“We are head down and intently focused on bringing our technology to market, and closing deals. The principles of the Company have personally invested hundreds of thousands of dollars into acquiring the rights to technology and developing it for cannabinoid use.”, commented Mr. Zacharin, CEO of Greater Cannabis. “Our shareholders should know that our attention is being placed where it should be, on building long-term shareholder value by growing the business and generating revenues. Our objective is to achieve business success, and as such we have no intention of being distracted by day to day stock price, or message boards.”, added Mr Zacharin. Our Company’s value and its ability to uplist to higher tier exchanges will be a direct effect of our ability to execute on our core business. If we’re successful, our valuation will follow, it’s that simple. We have a unique and innovative technology, which is the result of a decade of research and development. Further, we have a proven team that is experienced in commercialization of these delivery systems. Our Company is very well positioning to capitalize on the growth of what is quickly becoming an industry led by innovation.”
The Company looks forward to providing frequent updates to shareholders on board appointments, business development, and other material events as they occur. Investors should direct their inquiries to investor@gcanrx.com, and are encouraged to sign up to receive updates through the email sign up found at the bottom of the investor’s page.
About The Greater Cannabis Company:
The Greater Cannabis is a biopharmaceutical company focused on the development and commercialization of innovative cannabinoid delivery systems. Greater Cannabis deploys its licensed, patented technology platform for use in the cannabis industry. The Company’s conveyance platform can be utilized to deliver cannabinoids without the harmful side effects found with other routes of cannabinoid administration. The technology is versatile in that for the first-time patients can receive lower dosing, enhanced bioavailability, and controlled rapid and delayed release using a fully dissolvable, non-irritant oral eluting patch. Greater Cannabis’ mission is to bring our technology to the global market through partnerships with leading cannabis and pharmaceutical companies, for the benefit of patients and consumers. More information on the Greater Cannabis Company and its technology can be found on the Company’s website, www.gcanrx.com.
Forward Looking Statements and Disclaimer:
Statements made in this press release that express the Company or management's intentions, plans, beliefs, expectations or predictions of future events, are forward-looking statements. The words "believe," "expect," "intend," "estimate," "anticipate," "will" and similar expressions are intended to further identify such forward-looking statements, although not all forward-looking statements contain these identifying words. Those statements are based on many assumptions and are subject to many known and unknown risks, uncertainties and other factors that could cause the Company's actual activities, results or performance to differ materially from those anticipated or projected in such forward-looking statements. The Company cannot guarantee future financial results; levels of activity, performance or achievements and investors should not place undue reliance on the Company's forward-looking statements. No information contained in this press release should be construed as any indication whatsoever of the Company's future financial performance, future revenues or its future stock price. The forward-looking statements contained herein represent the judgment of the Company as of the date of this press release, and the Company expressly disclaims any intent, obligation or undertaking to update or revise such forward-looking statements to reflect any change in the Company's expectations with regard thereto or any change in events, conditions or circumstances on which any such statements are based. No information in this press release should be construed as any indication whatsoever of the Company's future revenues or results of operations. Additional risks and uncertainties are set forth in the Company's Annual Report for the year ended December 31, 2017, filed with the Securities and Exchange Commission and available at www.sec.gov.
Contact:
The Greater Cannabis Company, Inc.
443-738-4051
info@gcanrx.com
www.gcanrx.com