Canntab Engages Independent Trading Group for Market Making Services
Toronto, Ontario–(Newsfile Corp. – February 17, 2021) – Canntab Therapeutics Limited (CSE: PILL) (OTCQB: CTABF) (FSE: TBF1) (the “Company” or “Canntab“), a leading innovator in cannabinoid and terpene blends in hard pill form for therapeutic applications, announced today that it has engaged Independent Trading Group Inc. (“ITG“) to provide market-making services to the Company. ITG will trade the Company’s common shares (the “Common Shares“) on the Canadian Securities Exchange (the “CSE“) and other marketplaces, as applicable, with the objective of maintaining a reasonable market and improving the liquidity of the Common Shares.
Pursuant to the terms of a services agreement (the “Services Agreement“), ITG will receive compensation of C$5,000 per month (plus applicable taxes), payable on the first business day of each month, for an initial term of three months, with services commencing on February 11, 2021. The Services Agreement will automatically renew for additional one-month terms unless terminated by either party in accordance with the terms and conditions of the Services Agreement. The Services Agreement may be terminated by either party with 30 days’ notice.
There are no performance factors contained in the Services Agreement and ITG will not receive any Common Shares or other securities of the Company as compensation for the services it will render to the Company. As of the date hereof, ITG and the Company are unaffiliated entities and neither ITG nor its principals have an interest, directly or indirectly, in the Company or its securities, or any right or intent to acquire such an interest.
About Canntab Therapeutics
Canntab Therapeutics is a Canadian biopharmaceutical company focused on the manufacturing and distribution of a suite of hard pill cannabinoid formulations in multiple doses and timed-release combinations. Long referred to as Cannabis 3.0 by the Company, Canntab’s proprietary hard pill cannabinoid formulations provide doctors, patients and consumers with medical grade solutions which incorporate all the features one would expect from any prescription or over the counter medication sold in pharmacies around the world. These will include the following formulations: once a day and extended release, both providing an accurate dose and improved shelf stability.
Canntab holds a Cannabis Standard Processing & Sales for Medical Purposes License, a Cannabis Research License, and an Industrial Hemp License from Health Canada.
Canntab trades on the Canadian Securities Exchange under the symbol PILL, on the OTCQB under the symbol CTABF, and on the Frankfurt Stock Exchange under the symbol TBF1.
This news release contains certain statements that may be deemed “forward-looking statements” with respect to the Company within the meaning of applicable securities laws. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects”, “plans”, “anticipates”, “believes”, “intends”, “estimates”, “projects”, “potential”, “indicates”, “opportunity”, “possible” and similar expressions, or that events or conditions “will”, “would”, “may”, “could” or “should” occur. Although Canntab believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance, are subject to risks and uncertainties, and actual results or realities may differ materially from those in the forward-looking statements. Forward-looking statements in this press release include, but are not limited to, those regarding the Company’s future prospects or results from operation, the ability of Canntab to successfully achieve business objectives, information concerning the listing of its Common Shares on the CSE, and assumptions made by the Company in light of management’s experience and perception of historical trends, current conditions and expected future developments. These forward-looking statements reflect the Company’s current expectations based on information currently available to management and are subject to a number of risks and uncertainties that may cause outcomes to differ materially from those projected. Risks and uncertainties include, but are not limited to, the risk that the medical community does not recognize Cannabinoid alternatives to traditional therapies, changes in economic conditions or financial markets, changes in laws or regulations that could have an impact on the Company’s operations, and performance or achievements may be materially different from those expressed or implied. Readers should refer to the risk disclosure included from time-to-time in the documents the Company files on SEDAR, available at www.sedar.com. Although the Company believes that the assumptions inherent in these forward-looking statements are reasonable, they are not guarantees of future performance and, accordingly, they should not be relied upon and there can be no assurance that any of them will prove to be accurate. Finally, these forward-looking statements are made as of the date of this press release and the Company assumes no obligation to update them except as required by applicable law.
SOURCE Canntab Therapeutics Limited
For further information: Canntab Therapeutics Limited, Larry Latowsky, Chief Executive Officer, +1 833 301-3812, [email protected]; Canntab Therapeutics Limited, Richard Goldstein, Chief Financial Officer, +1 833 301-3812, [email protected]; Frank Candido, Business Development and Investor Relations, Canntab Therapeutics Limited, 514-969-5530, [email protected]
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/74697