United Cannabis Corp (OTCMKTS:CNAB) has been trading below the sector recently, but there could be better times ahead for CNAB. CBD oil infusions have yet to really reach their target market. CBD oils will see a CAGR over 55% through the next five years, according to a recent study. CNAB is primed to benefit from a market that has yet to really catch on as their infrastructure is solid and their product line firmly in place.
Recently, CNAB got full approval for their Prana Water line in Jamaica. The Prana Collection is the foundation of the Company’s cannabis-centric formulations, which patients have found effective in helping manage the symptoms of arthritis, neuropathy, acute pain, joint aches, muscle tension, muscle spasms, muscle recovery, migraines, and various skin conditions. CBD oil especially infusions like food and beverage offer a nice entry point for those who are interested in the positive benefits of cannabis, but do not want the high. CNAB has presented a strong option and also has patents behind their brand name.
United Cannabis Corp (OTCMKTS:CNAB) bills itself as a company that owns intellectual properties related to growth, production, manufacture, marketing, management, utilization, and distribution of medical and recreational marijuana, and marijuana-infused products in the United States.
It also provides consulting and product placement services related to the marijuana industry. The company focuses on developing therapeutics, including Prana Bio Nutrient Medicinal products for supplement deficiencies related to the endocannabinoid system, including pain, neuropathy, arthritis, MS, IBS, autism, seizures, eczema, sleep, anxiety, head trauma, opioid dependency, and clinical endocannabinoid deficiencies; and Prana Aromatherapy Transdermal Roll-on line that provides targeted and large surface relief with combinations of aromatherapy.
CNAB has strategic partnerships with WeedMD RX Inc.; Harborside Health Center; and Westside Enterprises, LLC. The company also has a production and placement agreement with Jason Emo and Emotek LLC; licensing and exclusive distribution agreement with DNA Holding, LLC; and consulting and licensing agreement with Marcus Richardson.
The company was formerly known as MySkin, Inc. and changed its name to United Cannabis Corporation in May 2014. United Cannabis Corp was founded in 2007 and is based in Denver, Colorado.
According to company materials, “The Company’s Prana Bio Medicinal products provide patients a way to mix/match cannabinoids for therapeutic purposes. These products, licensed to regulated marijuana dispensaries, are broken into 5 categories that are available in capsules, sublingual’s, and topical delivery methods. The Company uses a patent-pending infusion process utilizing select fatty acids, lipids, and specific combinations of cannabis-derived terpenes to increase bioavailability.”
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Earnest Blackmon, Chief Executive Officer of United Cannabis, commented on the announcement, “The Jamaican market continues to be favorable, on both a regulatory and operational basis, enabling us to diversify out of the United States. Of course, we remain confident that the US market will continue to move toward legalization of medical cannabis, but with our complete line now registered with the Ministry of Health, Jamaica can also serve as a gateway to other open markets. We, along with our partners, are already talking with customers in Canada, Australia, New Zealand, The Philippines and Nigeria.”
Earning a current market cap value of $64.43M, CNAB is putting money in place to ramp up production as well. Eventually, the market will turn back towards cannabis and CBD oils could be one of the biggest beneficiaries from the true green rush that is still ahead. Sign-up for continuing coverage on shares of $CNAB stock, as well as other hot stock picks, get our free newsletter today and get our next breakout pick!
Disclosure: we hold no position in $CNAB, either long or short, and we have not been compensated for this article.