BALTIMORE, MD, May 07, 2019 (GLOBE NEWSWIRE) — Greater Cannabis Company (OTCQB: GCAN), a market leader and innovator in the development and commercialization of cannabinoid delivery systems, today announced it has entered into a letter of agreement (LOI) with European-based Symtomax, a licensed group on medical cannabis cultivation, research and distribution with over 40 years of experience in the medical cannabis industry.
Effective immediately, Symtomax will distribute on a white-label basis Greater Cannabis Company’s oral eluting patch, transdermal patch, and other proprietary technologies and products across its distribution network that spans across Europe, the Middle East and Africa. Additional geographic and product expansion plans are expected to be added as the two companies begin implementing the initial phases of this agreement.
“Delivering on our commitment to spearhead our expansion plans required an alternative delivery means of legal cannabis. We were drawn to the Greater Cannabis Company’s proprietary and proven technologies, product portfolio and market leadership,” said Paul Segal, Chief Executive Officer of Symtomax. “Through this strategic partnership with the Greater Cannabis Company, we believe we can now meet this need as well as the expectations of patients. We look forward to working together to unlock the potential of our combined consumer healthcare businesses” concluded Mr. Segal.
“With over 40 years of experience in the medical cannabis market in Europe, Symtomax’s decision to partner with GCANRx is a clear testament of the strength of our proprietary technologies as well the cannabis industry’s need for an alternative delivery system,” said Aitan Zacharin, Chief Executive Officer of Greater Cannabis Company. “In addition, today’s agreement serves as yet another building block in our long-term development towards become a global leader in cannabis delivery technologies. We are excited to partner with Symtomax and look forward to developing their product portfolio using GCANRx’s technologies throughout their strategic markets.” concluded Mr. Zacharin.
Symtomax currently owns one of the largest legal cannabis cultivation areas in Europe, with a planned production facility site in Portugal totaling 1,830,000 square meters. In addition to its 40 years in medical cannabis, it has extensive international experience in operations, capital markets, corporate finance, law, and healthcare services. In April 2019, Symtomax announced plans to list on the Canadian Stock Exchange (CSE).
For more information about Symtomax, please visit www.symtomax.com.
Greater Cannabis Company is led by an experienced team of executives and scientists to develop cutting-edge technologies and products with high bioavailability and stability in cannabis administration. It combines this with leading expertise and innovation in cannabis concept development, to full-scale commercialization across multiple industries. The Company leverages a growing, global network of pharmaceutical, beauty, self-care, and other strategic partners to drive the proliferation and use of its technologies and products throughout the world.
For more information about the Greater Cannabis Company, please visit www.gcanrx.com.
About The Greater Cannabis Company
The Greater Cannabis Company (OTC: GCAN) is a biopharmaceutical company focused on the development and commercialization of innovative cannabinoid delivery systems. Greater Cannabis deploys its patented technology platform for use in the cannabis industry. The Company’s conveyance platform can be utilized to deliver cannabinoids without the harmful side effects found with other routes of cannabinoid administration. The technology is versatile in that for the first-time patients can receive lower dosing, enhanced bioavailability, and controlled rapid and delayed release using a fully dissolvable, non-irritant oral eluting patch. Greater Cannabis’ mission is to bring our technology to the global market through partnerships with leading cannabis and pharmaceutical companies, for the benefit of patients and consumers. More information on the Greater Cannabis Company and its technology can be found on the Company’s website, www.gcanrx.com.