Canntab Exceeds All-Time High Trading Prices and Grants Options
Toronto, Ontario--(Newsfile Corp. - September 19, 2018) - Canntab Therapeutics Limited (CSE: PILL) ("Canntab" or the "Company"), a leader in the development of the cannabis in tablet or capsule form, is pleased to announce that the Company's common shares ("Common Shares") yesterday reached new all-time daily high and closing prices of $1.25 and $1.22, respectively, on the Canadian Securities Exchange (the "CSE"). This constitutes a 25% and 22% premium on the price of the Common Shares that were issued in the Company's private placement that closed concurrently with its reverse takeover in April. In addition, the Company traded an aggregate of 776,999 Common Shares yesterday, which represents the second highest daily volume in the Company's history, only being surpassed by the Company's opening day of trading on April 20, 2018.
"We are proud to report that Canntab is executing on its promise to deliver value and liquidity to our shareholders. Today's closing price demonstrates that the marketplace believes in our vision, and we intend to continue to reach new highs," said Jeff Renwick, CEO and a director of Canntab.
The Company also announces that the board of directors has authorized the grant of 100,000 incentive stock options to certain employees and consultants. Each such option entitles the holder to acquire one Common Share for a period of 3 years at an exercise price of $1.22 per Common Share.
Canntab Therapeutics Limited is a Canadian cannabis oral dosage formulation company based in Markham Ontario, engaged in the research and development of advanced pharmaceutical grade formulations of cannabinoids. Canntab has developed in-house technology to deliver standardized medical cannabis extract from selective strains in a variety of extended/sustained release pharmaceutical dosages for therapeutic use. Simply put, Canntab's mission is to put the "Medical" into medicinal cannabis!
FOR ADDITIONAL INFORMATION, PLEASE CONTACT:
Canntab Therapeutics Limited
Richard Goldstein, CFO
Office: 416 957-6303
Certain statements included in this press release constitute forward-looking information or statements (collectively, "forward-looking statements"), including those identified by the expressions "anticipate", "believe", "plan", "estimate", "expect", "intend", "may", "should" and similar expressions to the extent they relate to the Company or its management. The forward-looking statements are not historical facts but reflect current expectations regarding future results or events. This press release contains forward looking statements. These forward-looking statements are based on current expectations and various estimates, factors and assumptions and involve known and unknown risks, uncertainties and other factors. Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be anticipated, estimated, or intended.
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