THC Farmaceuticals Completes Acquisition of Majority Ownership of CBDual Biotechnology Corp; Applies for Provisional Patent
THOUSAND OAKS, CA / ACCESSWIRE / October 17, 2018 / THC Farmaceuticals, Inc. (OTC PINK: CBDG) announces that it has completed the acquisition of a majority ownership in CBDual Biotechnology Corp., a start-up biotech company focused on the development of proprietary products containing CBD (cannabidiol) and/or THC (Tetrahydrocannabinol). Per the agreement, THC Farmaceuticals has committed $250,000 USD in funding and has issued 1,500,000 common shares to CBDual Biotechnology, completing the first phase of the acquisition. The funding, which has begun, and is paid in tranches, will enable CBDual Biotechnology to further implement its operations. Upon CBDual Biotechnology meeting certain benchmarks including revenues, patent applications, and registration with, and subsequent approvals from the US FDA, THC Farmaceuticals will acquire up to 100% of CBDual Biotechnology by issuance of additional restricted common shares to CBDual Biotechnology.
CBDual Biotechnology founder Dr. Greg Rubin has filed a provisional patent application on behalf of and to be owned by CBDual Biotechnology. The patented process utilizes a unique combination of cannabinoids and other non-toxic, efficacious ingredients for intradermal tattoos, including permanent makeup inks. The patent is designed to provide unique organic ingredients and cannabinoids into an ink formula that will address two of the most common complications of the tattoo application; pain and aftercare complications and inflammation. This patent will provide tattoo artists with a new generation of tattoo inks containing a medical solution that will make the often-painful tattoo procedure a safer and cozier experience. This is the first in a series of inventions CBDual Biotechnology intends to patent for production and distribution.
CBDual Biotechnology intends to implement clinical trials in the near future in its southern California facility. Initial trials are intended to target oral health via the cannabis based medications, therapies, and products produced by CBDual Biotechnology.
About CBDual Biotechnology Corp.
CBDual Biotechnology Corp is a privately held, US Based Biotechnology company with propriety technology for enhanced oral delivery of bioactive cannabinoids and other delivery methods. This technology promotes overall oral health due to higher effectiveness of the delivery methodology. The company was founded in 2016 and is headquartered in California, with its R&D in the US and Israel.
For More information about CBDual Biotechnology, please visit the website: www.CBDual.com
About THCFarmaceuticals, Inc.
THC Farmaceuticals, Inc.: (OTC: CBDG) owns and operates ATMs placed in high-traffic commercial areas in Utah. Through the acquisition of CBDual Biotechnology, THC Farmaceuticals is now expanding its operations to include businesses and intellectual properties related to the cannabis industries.
For additional information visit the company’s website: http://cbdg.com/
This press release contains “forward-looking statements.” Although the forward-looking statements in this release reflect the good faith judgment of management, forward-looking statements are inherently subject to known and unknown risks and uncertainties that may cause actual results to be materially different from those discussed in these forward-looking statements. Readers are urged to carefully review and consider the various disclosures made by us in our reports filed with the Securities and Exchange Commission, including the risk factors that attempt to advise interested parties of the risks that may affect our business, financial condition, results of operation and cash flows. If one or more of these risks or uncertainties materialize, or if the underlying assumptions prove incorrect, our actual results may vary materially from those expected or projected. Readers are urged not to place undue reliance on these forward-looking statements, which speak only as of the date of this release. We assume no obligation to update any forward-looking statements in order to reflect any event or circumstance that may arise after the date of this release.
SOURCE: THC Farmaceuticals, Inc.