United Cannabis Corp (OTCMKTS:CNAB) has been hanging tough over the last month as volatility has run rampant across all sectors. The cannabis market has been affected and CNAB is down +30% over the month, but if you look at CNAB over a longer time frame (3-month), you see that the stock is still up over a 100%.
While that may not make investors feel better, CNAB has strong catalysts in place for long-term viability as this sector bounces back. There are highs on the horizon and CNBA is well positioned to take advantage. In recent articles, we talked about their dealings in Jamaica with their Prana Water initiative, but one deal that we did not discuss was one with Harborside Health. The deal is straightforward – a licensing deal for CNAB’s tech – but could signal future deals of the same variety in the future.
United Cannabis Corp (OTCMKTS:CNAB) bills itself as a company that owns intellectual properties related to growth, production, manufacture, marketing, management, utilization, and distribution of medical and recreational marijuana, and marijuana-infused products in the United States.
It also provides consulting and product placement services related to marijuana industry. The company focuses on developing therapeutics, including Prana Bio Nutrient Medicinal products for supplement deficiencies related to the endocannabinoid system, including pain, neuropathy, arthritis, MS, IBS, autism, seizures, eczema, sleep, anxiety, head trauma, opioid dependency, and clinical endocannabinoid deficiencies; and Prana Aromatherapy Transdermal Roll-on line that provides targeted and large surface relief with combinations of aromatherapy.
CNAB has strategic partnerships with WeedMD RX Inc.; Harborside Health Center; and Westside Enterprises, LLC. The company also has a production and placement agreement with Jason Emo and Emotek LLC; licensing and exclusive distribution agreement with DNA Holding, LLC; and consulting and licensing agreement with Marcus Richardson.
The company was formerly known as MySkin, Inc. and changed its name to United Cannabis Corporation in May 2014. United Cannabis Corp was founded in 2007 and is based in Denver, Colorado.
According to company materials, “The Company’s Prana Bio Medicinal products provide patients a way to mix/match cannabinoids for therapeutic purposes. These products, licensed to regulated marijuana dispensaries, are broken into 5 categories that are available in capsules, sublingual’s, and topical delivery methods. The Company uses a patent-pending infusion process utilizing select fatty acids, lipids, and specific combinations of cannabis-derived terpenes to increase bioavailability.”
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Earnest Blackmon, Chief Executive Officer of CNAB, commented on the announcement, “We initially sought patents for our technologies to protect the investment we made in research and development and to protect our pharmaceutical applications. We’ve been working with the Harborside team to distribute Prana in California for several years now, so it is fitting that we are signing our first licensing agreement with them, and they truly recognize the value of our technology and patent.”
Tony Verzura, the Company’s Chief Technology Officer, added, “I am excited about the opportunity to further foster our relationship with a Harborside product line and expand our patented technology in the medical cannabis industry.”
Blackmon went on to say, “While we perfected these methodologies in the course of developing the CNAB product portfolio, we are also cognizant of the value these protocols have to others in the cannabis and hemp industry. We have found a number of participants utilizing technology protected by our patent – which covers any cannabinoid mixture delivered in an aqueous solution — and have identified several that are interested in licensing our technology to ensure authorized use within their operations. I expect that this will be the first of many such agreements that we enter into.”
United Cannabis Corp (OTCMKTS:CNAB) currently has a market cap of 71.05M with a float of 21.89M. The recent 10-day volume is at 364.67k and CNAB could be seeing increased volume going forward as more and more medical marijuana opportunities break out. We will be offering more updates as they become available. Sign-up for continuing coverage on shares of $CNAB stock, as well as other hot stock picks, get our free newsletter today and get our next breakout pick!
Disclosure: we hold no position in $CNAB, either long or short, and we have not been compensated for this article.