DENVER, July 09, 2019 (GLOBE NEWSWIRE) — United Cannabis Corporation (OTCBB: CNAB) (the “Company” or “United Cannabis”) today announced it has signed a $16.25 million contract with a single customer to provide crude CBD oil over a period of 26 weeks. The Contract will be processed at the Company’s 14,300 square foot, state-of-the-art extraction facility in Mead, Colorado.
Earnest Blackmon, Chief Executive Officer of United Cannabis, commented on the announcement, “This contract is a direct result of our investment in the expansion of our hemp processing operation; the Mead facility came online in June with 10 times the capacity of our original processing operation. This agreement represents only a small percentage of the plant’s capacity, and we are confident that it is the first of many to come.”
About United Cannabis Corporation
United Cannabis Corporation is a biotechnology company dedicated to the development of phyto-therapeutic based