United Cannabis Corp (OTCMKTS:CNAB) has cooled off of late with the rest of the market. It has mostly been on an upward climb, since November of last year totaling 150% in gains over that time. CNAB has edged back from highs of $2.50, but there are catalysts that could send this medical marijuana producer higher near-term.

The possible driver comes from one of its forgotten moves regarding a CBD-infused water in Jamaica. According to the press, Prana Water is to be manufactured and distributed through the company’s subsidiary Cannabinoid Research & Development Limited in the Caribbean nation. The subsidiary is also working on initiating the production of other products in Jamaica such as the Prana P5 Hemp Bio Nutrient Capsules. The Prana Collection is a cannabis-centric therapy, excellent for providing relief from the symptoms of arthritis, neuropathy and acute pain.

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 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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“Acceptance of medical cannabis has been considerably faster in Jamaica than the United States, and we established CRD so that we could be a part of the commercialization process. Our production facility is state-of-the-art and we expect our CBD-infused water, as well as our other approved products, will be ready for distribution by the end of the month,” said CNAB CEO Earnest Blackmon.

Expansion into Jamaica and Australia, as well as a potential new production location in the works, are all a part of management’s move to increase annual revenue. The company needs to shed some weight on its net loss and accelerate revenues, especially if it wants to charge above $2 for good.

CNAB currently trades around in the $1.39 and faces resistance at the $2 a share mark, a close above which could see it make a push for the 52-week high of $2.5. On the downside, it faces immediate support at the $1.4 handle, which is a swing low, below which the stock could drop to the $1 a share mark.

Earning a current market cap value of $83.57M, CNAB is putting money in the right places. A big investment and potential production increase could really boost the stock’s long-term value and appeal to a wider range of investors. 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.