TORONTO, May 15, 2020 /CNW/ - Canntab Therapeutics Limited (CSE:PILL.CN)(OTCQB:CTABF) (FRA:TBF1.F) (the "Company" or "Canntab"), the leading innovator in cannabinoid and terpene blends in hard pill form for therapeutic applications, is pleased to announce the appointment of Joshi Laxminarayan as Chief Scientific Officer (CSO). In his role as CSO, Mr. Laxminarayan will be responsible for directing Canntab's strategic research and partnership program, and overseeing the Company's ongoing manufacturing and distribution operations.
Mr. Laxminarayan is a pharmaceutical scientist with a successful history of bringing to market a number of pharmaceutical drugs throughout a career spanning over 25 years. Mr. Laxminarayan began his career in India, as a bench chemist, and most recently acted in a consultant role to the Company, as Director of Quality Assurance & Quality Control, where he assisted with the research and development needed to formulate the Company's current product line. His expertise in nano emulsion, extended release, and poorly soluble drug development, has played a crucial role in the Company's research and development with respect to cannabis oil inputs.
"Joshi has played an integral part in helping Canntab strengthen its competitive position and relevance, and distinguish itself in the pharmaceutical industry. His appointment as CSO is expected to evolve as we continue manufacturing, into a position where he can oversee not only our ongoing Research & Development, but also our day to day manufacturing and distribution operations," explains Jeff Renwick, Co-founder and CEO of Canntab. Mr. Renwick continues, "As Canntab enters the next phase of its growth, Mr. Laxminarayan will be invaluable to our continued success, driving us closer to our goal of being the world leader in solid oral dose therapeutic cannabis solutions."
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. 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 Canadian pharmacies. 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 Licence, a Cannabis Research Licence, and an Industrial Hemp Licence from Health Canada.
Additionally, Canntab through its wholly owned American subsidiary is in the process of establishing a CBD manufacturing and distribution business in Florida, USA.
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.
Cautionary Statements
Neither the Canadian Securities Exchange nor its Market Regulator (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
Certain information in this press release constitutes forward-looking statements under applicable securities laws. Any statements that are contained in this news release that are not statements of historical fact may be deemed to be forward-looking statements. Forward-looking statements are often identified by terms such as "may", "should", "anticipate", "expect", "potential", "believe", "intend" or negatives of these terms and similar expressions. Forward-looking statements involve risks and uncertainties that could cause actual results to differ materially, and are based on management's current beliefs, assumptions, and expectations. While Canntab considers these beliefs, assumptions and expectations to be reasonable and based on information currently available, they are inherently subject to significant business, economic and competitive uncertainties and contingencies and they may prove to be incorrect. Readers are cautioned not to place undue reliance on forward-looking statements. Forward-looking statements also necessarily involve known and unknown risks, including without limitation, risks associated with general economic conditions, adverse industry events, marketing costs, loss of markets, future legislative and regulatory developments, the inability to access sufficient capital on favourable terms, the medical and recreational cannabis industry in Canada in general, income tax and regulatory matters, the ability of Canntab to execute its business strategies, competition, crop failure, currency and interest rate fluctuations and other risks. Readers are cautioned that the foregoing 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 from those anticipated. Forward-looking statements are not guarantees of future performance. Except as required by law, Canntab disclaims any obligation to update or revise any forward-looking statements, whether as a result of new information, events or otherwise. Forward- looking statements contained in this news release are expressly qualified by this cautionary statement.
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SOURCE Canntab Therapeutics Limited
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