Source: The Greater Cannabis Company, Inc.
GCAN Receives Purchase Order for 125,000 Units of its Oral Cannabis Patch from Symtomax
BALTIMORE, MD, Jan. 30, 2020 (GLOBE NEWSWIRE) -- Greater Cannabis Company (OTCQB: GCAN), an innovator in the development and commercialization of cannabinoid delivery systems and cannabinoids products is proud to announce that it has received a purchase order for 125,000 units of its eluting transmucosal patch. GCAN’s oral patch has been shown in clinical studies to be a safe and effective way to deliver lower doses of pharmaceutical actives, while achieving high levels of bioavailability.
The purchase order came via Greater Cannabis’ European distribution partner Symtomax. The first Oral Tabs contain 21mg of full spectrum CBD in each sachet and will be available in 5 and 30 pack boxes in berry mint flavor with additional packet sizes, formulations and flavors planned for later on in the year. Symtomax has sourced numerous retail outlets and pharmacies for the distribution of the product, and is in further discussions with major distributors in a number of European countries.
In addition to commercializing its own line of cannabis infused products, Symtomax has begun implementation of its low cost, high quality cannabis production facility in Portugal, which has approval for 95 hectares of cultivation, and when fully operational will be able to produce 700 Tons per year, making it one of the largest European cultivators.
Paul Segal, Chairman of Symtomax, had this to say, “We are excited to finally begin the introduction of our first product into what will soon be a robust line of science-based cannabis products. Our Oral Tabs fill an unmet need from the lens of the cannabis consumer by providing a method of cannabis consumption that can be used anywhere, tastes great, and that works fast and has no side effects.” Paul further stated, “We are already seeing demand from our retail and distribution partners, and expect to see that increase as we ramp up marketing, and consumers begin trying the product.”
Part of the Symtomax agreement calls for a revenue share of products sold through Symtomax distribution channels. In addition to the commercialization of the Oral Tabs through retail locations throughout Europe Symtomax is also advancing discussions to explore pharmaceutical applications of the GCANRx technology.
Aitan Zacharin, CEO of Greater Cannabis, said in a statement to shareholders, “I am pleased to announce our achievement of this important milestone. Our team has been hard at work advancing all aspects of our business, and revenue generation is the fruit of those efforts. This announcement is just the beginning for GCAN and only one of a number of revenue generating opportunities the company has been focused on. Each decision we make has an end goal of increasing shareholder value. We will continue to execute on opportunities that can accelerate the achievement of those goals.”
About The Greater Cannabis Company
The Greater Cannabis Company (OTCQB: GCAN) is a biopharmaceutical company focused on the development and commercialization of innovative cannabinoid delivery systems. Greater Cannabis deploys its patented technology platform for use in the cannabis industry. The Company’s conveyance platform can be utilized to deliver cannabinoids without the harmful side effects found with other routes of cannabinoid administration. The technology is versatile in that patients can now receive lower dosing, enhanced bioavailability, and controlled rapid and delayed release using a fully dissolvable, non-irritant oral eluting patch. Greater Cannabis’ mission is to bring our technology to the global market through partnerships with leading cannabis and pharmaceutical companies, for the benefit of patients and consumers. More information on the Greater Cannabis Company and its technology can be found on the Company’s website, www.gcanrx.com.
Disclaimer: Greater Cannabis Company Inc relies upon the Safe Harbor Laws of 1933, 1934 and 1995 for all public news releases. Statements, which are not historical facts, are forward-looking statements. The company, through its management, makes forward-looking public statements concerning its expected future operations, performance and other developments. Such forward-looking statements are necessarily estimates reflecting the company’s best judgment based upon current information and involve several risks and uncertainties, and there can be no assurance that other factors will not affect the accuracy of such forward-looking statements. It is impossible to identify all such factors. Factors which could cause actual results to differ materially from those estimated by the company include, but are not limited to, government regulation; managing and maintaining growth; the effect of adverse publicity; litigation; competition; and other factors which may be identified from time to time in the company’s public announcements.
Contact: The Greater Cannabis Company, Inc.
443-738-4051
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