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United Cannabis Corp (OTCMKTS:CNAB) Finalizes First Licensing Deal For Its Patented Offerings With Harborside Health

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United Cannabis Corp (OTCMKTS:CNAB) has entered into a licensing deal with Harborside Health Association LLC, covering the firm’s patented processes of extracting, preparing and utilizing cannabis. As per the terms of the deal, United Cannabis has given HHA the rights to the processes required to distribute and manufacture its own proprietary line using United Cannabis’ patented know-how, in lieu for which, HHA will compensate the firm a decided licensing fee.

The details

Earnest Blackmon, the CEO United Cannabis, expressed that they primarily sought patents for their technologies to safeguard the investment they made in R&D and to protect their pharmaceutical applications. They have been working with the team of Harborside to distribute Prana in the state of California for numerous years now, so it is appropriate that they are signing their first licensing deal with them, and they truly understand the value of their patent and technology.

Tony Verzura, the Chief Technology Officer of United Cannabis, expressed that he is thrilled about the prospect to further support their association with a Harborside offerings and expand their patented technology in the medicinal cannabis market.

Blackmon added that while they perfected these processes in the course of advancing the product portfolio of United Cannabis, they are also aware of the value these procedures have to others in the hemp and cannabis market. They have found several participants using technology protected by their patent – which comprises any cannabinoid mixture offered in an aqueous solution and have identified numerous that are interested in approving their technology to confirm authorized application within their operations. He anticipates that this will mark as the first of several such deals that they enter into.

Steve DeAngelo, the Founder of Harborside, expressed that there are several untested offerings in the medicinal cannabis segment, a trend which he project will continue as increasing number of participants venture into the market. Since many of company patients are getting remarkable advantages from the Prana Bio Nutrient line, they considered it was vital to ensure that they are always in a position to provide it at their facilities.

DISCLOSURE: The views and opinions expressed in this article are those of the authors, and do not represent the views of MMJReporter.com. Readers should not consider statements made by the author as formal recommendations and should consult their financial advisor before making any investment decisions. To read our full disclosure

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