United Cannabis Corporation Enters into Non-Exclusive Licensing Agreement

On January 24, 2018 United Cannabis Corporation entered into a non-exclusive licensing agreement with an affiliate of Harborside Health Association LLC. The license provided Harborside with the rights to the Company's technology which will enable Harborside to manufacture and distribute its proprietary line of products. In consideration for the license, Harborside will pay the Company the greater of: 5% of the gross price paid by Harborside for the manufacture of the products; or 2.5% of the wholesale price received by Harborside from the sale of the products.

© S&P Capital IQ - 2018

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Company Profile

United Cannabis Corporation is engaged in medical spa management business. The Company focuses on providing products, services and intellectual property to the cannabis industry. It owns intellectual property relating to the legalized growth, production, manufacture, marketing, management, utilization and distribution of medical and recreational marijuana and marijuana infused products. The Company focuses on advancing the use of phytocannabinoid therapeutics in medicine through research, product development and education. The Company's ACT Now Program utilizes its Prana Bio Nutrient Medicinals with a Health Insurance Portability and Accountability Act (HIPAA) of 1996 compliant electronic health record (EHR) software that enables physicians to create sequencing charts specific to their patients' medical aliments. The ACT Now EHR software allows for global monitoring, patient management and cannabinoid therapy protocols. It offers consulting and training services.