Canntab Therapeutics Limited said it has received its medical sales license from Health Canada for its Markham, Ontario facility, enabling the sale of all products directly to medical consumers.
The final regulatory step was required to launch the company's direct-to-consumer website, allowing patients across Canada to order online the unique patented exact-dosage hard tablets and caplets of THC and CBD in various strengths.
Canntab noted that exact dosing is a key element in its offerings to address the needs of the medical community.
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"The sales amendment is the most significant milestone to date for our company, and provides Canntab with the legal ability to aggressively move forward with our business plan and full commercialization of our brand and products,” said Canntab CEO Larry Latowsky in a statement.
"Our web site (www.canntab.ca) and e-commerce focus will be the primary vehicle in generating sustained and growing revenue. We have been hard at work in soliciting and preparing our many affiliate partners in anticipation of this day for the past many months and look forward to providing essential medical product to their significant groups of customers. Affiliates across Canada like pharmacy groups, health and wellness practitioners, sleep and pain clinics and other medical professionals will now be able to recommend or prescribe our product and be fully compensated."
Latowsky noted that during the next several weeks, the company expects to announce many partnerships that will extend to a large percentage of the Canadian population to provide specific programs from opiate alternative solutions to general health and wellness programs, as well as the Ontario Cannabis Store and other provincial authorities.
“A lot of hard work went into achieving this significant milestone and being approved as the first Canadian hard pill THC and CBD medical provider speaks to the dedication of our team and to the patience of our investors as we now move forward to create value for all stakeholders providing solutions for patients across the country," he said.
Meanwhile, Canntab said it has granted an aggregate of 120,000 options to purchase common shares to two consultants. Each consultant received 60,000 options. Each option is exercisable at $0.80 per share for a period of two years, expiring November 9, 2023.
Also, the company's initial order to the Ontario Cannabis Stores scheduled for November has been rescheduled for January with additional product scheduled for March.
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