TORONTO, April 23, 2019 /PRNewswire/ – Canntab Therapeutics Limited (CSE: PILL) (OTCQB: CTABF) (FRA: TBF1) (the “Company” or “Canntab”) is pleased to announce that by virtue of FSD Pharma Inc. (“FSD”), with whom Canntab has entered into a collaboration and profit sharing agreement, being granted a “sale for medical purposes” licence by Health Canada pursuant to the Cannabis Act and Cannabis Regulations (the “FSD Licence”), Canntab is close to being in a position to sell its products and generate revenue. The FSD Licence allows Canntab to produce samples of capsules containing CBD and/or THC, which, if approved by Health Canada, will enable Canntab to launch production and sales out of its manufacturing facility located in Room 6 of FSD’s Health Canada approved facility in Cobourg, Ontario. In addition, the FSD Licence, when combined with an export permit, which FSD intends to acquire as soon as possible, may also allow Canntab to sell its products in foreign markets.
Jeffrey Renwick, Chief Executive Officer of Canntab, stated “We are thrilled that FSD has received its sales licence from Health Canada, and want to congratulate the entire FSD team on this significant milestone! Once we receive Health Canada approval for our capsules, we will begin white labeling for Canadian licensed producers, including FSD Pharma. Once FSD is able to export, Canntab will be able to sell its proposed products in foreign jurisdictions, including Australia and Mexico where we have agreements in place. We look forward to continuing to work closely with the team at FSD during this exciting new phase of our businesses.”