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Having an exceptional, unique product is valuable, but execution is vital to the success or failure of this unique product and technology. And this is where Canntab’s experienced management team provides the key to performance. Canntab’s team is made up of individuals that have delivered in this space before. Bet the jockey, not the horse. This is a term we have used here at CannaInvestor Magazine before.
Jeff Renwick (CEO) and Richard Goldstein (CFO) have been here before with CMAX Technologies, a drug formulation company they founded more than 10 years ago that specialized in extended release technology. The company licensed two of its extended release formulations that are used in two popular medications in use today for antipsychotic conditions as well as beta-blockers.
The company’s advisory board has some cannabis notables as well, such as Lorne Gertner (Hiku Brands), and Hamish Sutherland (founding COO of Bedrocan Canada, which was acquired by Canopy Growth Corporation (TSX:WEED), formerly Tweed).
Keeping on the subject of performance, the team at Canntab is making great strides recently in executing its plan. 2019 has been a great year so far, having finalized a profit share agreement with FSD Pharma (CSE:HUGE), who recently was granted its Sales License by Health Canada. What does this mean? SALES. Although their recently released financial statements does not show much in terms of revenue so far, this will change, and in a big way, with the capability of producting up to 30,000 pills an hour by the end of the year. Canntab is also expecting Health Canada approval for its other numerous formulations by the end of the year.
As we have discussed before on numerous occassions, international expansion is a critical element of growth in the cannabis space. Having partnerships in Mexico and Australia, Canntab through its partnership with FSD Pharma, will be able to sell internationally on receipt of an export permit.