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MarketScreener Homepage  >  Equities  >  CANADIAN NATIONAL STOCK EXCHANGE  >  Canntab Therapeutics Limited    PILL   CA1377991023

CANNTAB THERAPEUTICS LIMITED

(PILL)
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Canntab Therapeutics Announces End of Supply and Distribution Agreements with Exactus

11/16/2020 | 09:40am EST

Toronto, Ontario--(Newsfile Corp. - November 16, 2020) -  Canntab Therapeutics Limited (CSE: PILL) (OTCQB: CTABF) (FRA: TBF1) (the "Company" or "Canntab"), the leading innovator in cannabinoid and terpene blends in hard pill form for therapeutic applications, announces that Canntab and Exactus, Inc. have mutually agreed to terminate the supply and distribution agreements previously announced on November 20, 2019, after determining that the regulatory requirements could not be completed on a timely basis.

During a time of pandemic and closed borders, both companies decided it would be best to mutually terminate the agreements in place. However, both companies have expressed an interest in working together in the future, and intend to make a decision in that regard once circumstances surrounding the COVID-19 pandemic have improved.

About Canntab Therapeutics

Canntab Therapeutics 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.

For more information, please contact:

Canntab Therapeutics Limited:

Larry Latowsky, Chief Executive Officer, T: +1 833 301-3812, E: larry@canntab.ca
Richard Goldstein, Chief Financial Officer, T: +1 833 301-3812, E: richard@canntab.ca
Frank Candido, Business Development and Investor Relations, T: 514-969- 5530, E: Frank@canntab.ca

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/68271


© Newsfilecorp 2020
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Financials
Sales 2020 0,13 M 0,10 M 0,10 M
Net income 2020 -2,61 M -2,04 M -2,04 M
Net cash 2020 1,36 M 1,07 M 1,07 M
P/E ratio 2020 -10,2x
Yield 2020 -
Capitalization 26,3 M 20,7 M 20,6 M
EV / Sales 2019 70,4x
EV / Sales 2020 231x
Nbr of Employees -
Free-Float 76,6%
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Managers and Directors
NameTitle
Lawrence Latowsky Executive Chairman & Chief Executive Officer
Jeffrey W. Renwick President, Director & Head-Manufacturing
Richard Goldstein Chief Financial Officer & Director
Joshi Laxminarayan Chief Scientific Officer
Vitor Manuel Fonseca Independent Director
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