Source: Emerging Growth LLC / CannabisFN.com, May 21 2014
Whitefish, MT / May 21, 2014 / Cannabis Therapy Corp. (OTC: CTCO), a development-stage enterprise focused on manufacturing and marketing pharmaceutical level products containing phytocannabinoids for the treatment of various diseases and conditions, recently announced that it closed a commercial land lease and crop service agreement with Rocky Mountain Hemp Inc. of Springfield, Colorado.
Under the terms of the agreement, the company will access a term lease of privately-held, certified organic, irrigated farmland in Southeastern Colorado. Rocky Mountain Hemp Inc. will also provide its cultivation expertise and specialized crop management services on an ongoing basis. The principal of RMH, Ryan Loflin, is the first Colorado farmer in 57 years to grow, harvest and sell hemp in the U.S. “This is a major step forward and a key component of our strategic plan to become a vertically integrated manufacturer of safe, pharmaceutical grade cannabinoid products,” said Cannabis Therapy Corp. President & CEO Soren Mogelsvang. “It is critically important that we control the cultivation and processing of our crops, and we are extremely pleased to partner with Rocky Mountain Hemp Inc.”
In a recent interview with Fox Business News, Mr. Mogelsvang indicated that the company was approximately 18-20 months away from a product on the shelves. The nutraceutical approach, as opposed to the pharmaceutical approach, could help its products get in the hands of consumers and help revenues get into the pockets of investors faster than companies like GW Pharmaceuticals Ltd. (NASDAQ: GWPH). Cannabinoid research has helped fill the void in clinical data to ultimately validate its product lines, too. In late 2013, the U.S. FDA approved the first two clinical trials to assess the efficacy of cannabidiol (“CBD”) for the treatment of intractable pediatric epilepsy. Since CBD is non-psychoactive, it’s not regulated in the same way that THC-heavy strains of medical or recreational cannabis are regulated.
So far, more than 20 U.S. states have legalized some forms of medical cannabis, including CBD compounds that are non-psychoactive. These trends are likely to continue as CBD research continues to advance in many areas, including not only pediatric epilepsy, but other conditions like pain management. In effect, CBDs are becoming closer to efficacious pharmaceuticals than questionable drugs. Cannabis Therapy aims to stay at the center of these trends with its vertically integrated approach. With biotech and pharmaceutical companies, like Eli Lilly and Co. (NYSE: LLY) or AstraZeneca plc (NYSE: AZN), trading up double-digits so far this year, there’s a large and growing opportunity for medical cannabis companies to legitimize their products and benefit from the best of both worlds.
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SOURCE: Emerging Growth LLC