Canntab Discusses Hemp Supply Agreement with FSD Pharma and Canada’s Second Wave of Cannabis Legalization
Canntab Therapeutics (CSE:PILL, OTC:CTABF, FSE:TBF1) CFO Richard Goldstein was featured in an interview on Midas Letter. In the interview, Goldstein talked about the second round of cannabis legalization by Health Canada and the company’s five-year hemp supply agreement with FSD Pharma Inc, (CSE:HUGE) and World Class Extractions (WCE).
Canntab is a Canadian oral dosage formulation company engaged in the research and development of advanced pharmaceutical-grade formulations of cannabinoids. Canntab has developed a line of immediate-release, modified-release and extended-release oral dose products to be sold in Canada. Currently, Health Canada has permitted the sale of cannabis-based softgel, capsules and flower. However, Health Canada has not approved the sale of cannabis-based pills and edibles, among others, but is expected to do so on or before October 17, 2019. Goldstein believes that Health Canada will legalize edibles and other cannabis products before that date.
Canntab is also looking at expanding into the US, but its focus is on the large cannabis market in Mexico. The company has already established a distribution network in Mexico and will be exporting all of its products internationally from Canada, pending approval from Health Canada.
“Mexico is a great marketplace … There’s a large medical-user base in Mexico. It’s our understanding that, upon Health Canada approval, we should be able to distribute in Mexico,” said Goldstein.
Goldstein also touched on Canntab’s recent supply agreement. Last week, Canntab entered into a three-way, five-year hemp agreement with FSD Pharma and WCE for 1,000 kilograms of organic hemp to extract CBD oil, which will then be processed into gel capsules and tablets at FSD Pharma’s facility in Cobourg, Ontario.
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