United Cannabis Corp. (OTC: CNAB), a provider of consulting services, management, and oversight to the cannabis industry, recently signed two management, marketing, and distribution agreements with The Melts and Emotek to market their products on an exclusive basis to its retail contacts, including licensed medical centers, dispensaries, pharmacies, and other outlets.
“We are excited about the opportunity to work with both Emotek and The Melts to provide their products to outlets throughout Colorado and introduce their proprietary processes to states where it is currently legal to do so,” said United Cannabis Corp. COO Chadwick Ruby. “Emotek and The Melts concentrate lines are welcomed additions to the portfolio of products [we] offer.”
Emotek systems are engineered for multi-solvent extraction and approved in the state of Colorado, while The Melts perform non-solvent processing of both wet and dry cannabis into extract products like pressed hash. The company will work to bring these products and services to a variety of end market users, including hospitals, alternative healing centers, retail centers, and wholesale outlets.
The agreement with Emotek and The Melts follows a similar agreement with Hop-on Inc. (OTC: HPNN), a provider of nutraceutical and cannabinoid-based technologies through Re-Medical Inc., in May 2014. Under that agreement, the company assisted with a regional rollout of the client’s catalog of award-winning CBD-dominant and THC:CBD strains, as well as cultivation expertise.
The market for CBD and other cannabinoid therapies generated over $600 million in annual sales in Colorado alone. The use of curated strains, professional production and processing methods, and rigorous testing standards should help the market currently valued at $1.53 billion to grow 68% to $2.57 billion by the end of the year.
Shares of United Cannabis Corp. fell about 3.5% in mid-day trading on Tuesday, July 8, 2014 following the announcement of the two new deals.
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