Canntab Therapeutics Ltd Stock Price, News & Analysis

Canntab Therapeutics Limited (OTCQB: CTABF) has announced significant operational changes and strategic shifts. Following a review, the company will focus solely on tablet manufacturing and pursue international licensing opportunities due to the crowded pre-roll and vaporizer market. With the lease for its manufacturing site expiring, Canntab plans to relocate production and has a strategy to move approximately $600,000 of cannabis inventory. The company has also received its 4th patent and is negotiating licenses with international partners to monetize its patented technologies.

Canntab Therapeutics Limited, a leader in cannabinoid and terpene blends, announced the first shipment of its 5mg and 10mg THC InstaCann tablets to the Nova Scotia Liquor Corporation (NSLC) on August 15, 2022. A total of 300 bottles of each SKU have been delivered, with products now available on NSLC's online platform and retail stores starting August 22, 2022. Co-founder Richard Goldstein emphasized this move as part of Canntab's strategy to expand across Canada, enhancing retail presence and e-commerce operations in the medicinal cannabis space.

Canntab Therapeutics Limited has appointed Richard Goldstein as interim CEO, effective July 31, 2022, after Larry Latowsky stepped down to pursue other opportunities. Goldstein, who previously served as CFO, will lead the company while a permanent CEO is sought. Canntab specializes in innovative cannabinoid and terpene blends in hard pill form, manufacturing medical-grade solutions. The company holds licenses for processing and research in cannabis.

Canntab Therapeutics Limited (OTCQB: CTABF) provided a corporate update on June 30, 2022, highlighting ongoing discussions for M&A opportunities and partnerships to expand its product offerings in the U.S. and internationally. The company is facing delays in raw material supply due to ongoing supply chain issues, although it maintains sufficient inventory. Canntab will implement temporary cost-cutting measures, including staffing reductions and decreased marketing expenses, to preserve cash until market conditions improve. Canntab remains committed to building shareholder value.

Canntab Therapeutics Limited announced a change of its auditor from MNP LLP to Clearhouse LLP, effective May 27, 2022, at the Company's request. The new auditor will serve until the next annual meeting of shareholders. There were no reservations or modified opinions from the Former Auditor regarding the Company's financial audits. Canntab focuses on hard pill cannabinoid formulations and holds licenses for medical purposes and research. The change complies with National Instrument 51-102 and related documentation will be filed on SEDAR.

Canntab Therapeutics Limited (OTCQB: CTABF) announced the engagement of Hamish Sutherland as a strategic business consultant. With over nine years in the legal cannabis industry, Sutherland aims to enhance sales, distribution, and strategic partnerships for Canntab's products. His engagement, initially for four months, includes a monthly compensation of $5,000, 40,000 common shares, and 200,000 stock options at $0.50 per share. The company seeks to expand into the U.S. and other markets while exploring M&A opportunities, although no transactions are guaranteed.

Canntab Therapeutics Limited (OTCQB: CTABF) has entered an affiliate agreement with OnPharm-United, a network of over 600 pharmacies in Ontario. This partnership will provide pharmacists access to educational resources on medical cannabis, facilitating patient referrals for Canntab's hard tablet products containing CBD and THC. Additionally, Canntab has received approval from the Province of Saskatchewan to sell its full portfolio of products. This agreement is expected to enhance Canntab's market reach and patient base.

Canntab Therapeutics Limited has announced a strategic partnership with Chief Adam Pawis of the Shawanaga First Nation to combat the opiate and illicit drug crisis in Indigenous communities across Canada. The collaboration aims to provide over 100,000 patients with access to Canntab's cannabinoid products through a dedicated online portal. This initiative addresses the rising opioid mortality rates among First Nations, particularly exacerbated by the COVID-19 pandemic. The partnership will begin with a one-year agreement involving a cash fee of $30,000 and warrants for future shares.

Canntab Therapeutics Limited (OTCQB: CTABF) has successfully closed a non-brokered private placement, raising $1,312,000 through the issuance of secured convertible debentures. These funds will support the company's working capital and general corporate needs. The debentures are convertible at $0.70 per share and mature in two years, with a 10% interest rate. Additionally, the company has announced an extension of the expiry dates for outstanding warrants from 2022 to May 18, 2022.