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Last $0.68 USD
Change Today +0.085 / 14.41%
Volume 120.2K
As of 8:10 PM 03/27/15 All times are local (Market data is delayed by at least 15 minutes).

united cannabis corp (CNAB) Key Developments

United Cannabis Corporation Executes Royalty and Consulting Services Agreement with FoxBarry Farms, LLC

United Cannabis Corporation executed a royalty and consulting services agreement with FoxBarry Farms, LLC, whereby FoxBarry will be the exclusive licensee and distributor of United Cannabis branded medical marijuana products in the state of California. United Cannabis will assist FoxBarry in coordinating programs with at least three different federally recognized tribes on their reservations, covering the northern, central and southern areas of California. United Cannabis will receive a 15% royalty payment on the net sales derived under the agreement. Under the agreement, United Cannabis has provided FoxBarry with an exclusive license to manufacture, advertise, distribute and sell United Cannabis branded marijuana, marijuana-infused products, and other authorized products, services, and articles resulting from the company's proprietary formulations, processes, and other intellectual property throughout the State of California. This includes branded products and services from the company's affiliated partnerships with DNA Genetics, EmoTek and T.H.E. Melts.

United Cannabis Corporation announced delayed 10-Q filing

On 11/12/2014, United Cannabis Corporation announced that they will be unable to file their next 10-Q by the deadline required by the SEC.

United Cannabis Corporation Announces Venture with Cannabinoid Research & Development Company Limited

United Cannabis Corporation announced that it has participated with a small group of Jamaicans to form a Jamaican corporation named Cannabinoid Research & Development Company Limited (‘CRD’ or the ‘Venture’). The Company owns a 50% interest in CRD. The Company participated in the formation of CRD in order to further the Company's mission of advancing the use of cannabis in medical therapies through biomedical and pharmaceutical research and development, within Jamaica. The Venture has identified a 30,000 square foot facility in Kingston's industrial zone to serve as its corporate headquarters, but a lease has not yet been signed.

United Cannabis Corp. Signs Property Development Agreement with INTIVA Real Estate Colorado LLC for 80-Acre Parcel in Pueblo County, Colorado

United Cannabis Corp. announced that it has entered into a farm lease with INTIVA Real Estate Colorado LLC on an 80-acre property in Pueblo County, Colorado. The companies will work jointly to develop the property optimizing it for the growing, cultivation, and/or processing of marijuana, in accordance with all applicable State of Colorado and county laws, regulations, codes and ordinances, with the primary objective of furthering the Company's research and development of medicinal cannabinoid and related products. Under the agreement, United Cannabis will serve as master tenant, subleasing parcels to affiliates and other subtenants. United Cannabis will also serve as property manager, overseeing the design of the 80-acre campus, incorporating the Company's proprietary protocols and methodologies. Construction of buildings and structures, such as basic and greenhouses, as well as enhancements to the property, such as fencing and irrigation, will be added as mutually agreed upon.

United Cannabis Corporation Announces Resignation of Paul Enright as an Officer and Director

On August 15, 2014, Paul Enright, who served as the United Cannabis Corporation's Vice President of Business Development and Corporate Relations and as a Director, resigned his positions as an officer and director of the company, but he will continue to be employed by the company.

 

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Price/Sales 192.6x
Price/Book 43.2x
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TEV/Sales 182.8x
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