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CanniMed Therapeutics Corrects Q1 Avg. Selling Prices

March 17, 2017

 

SASKATOON, Saskatchewan--(BUSINESS WIRE)--CanniMed Therapeutics Inc. (TSX:CMED) (“CMED” or the “Company”), provides a correction on the Company’s earnings release dated March 16, 2017, that, for the three months ended January 31, 2017, the average selling price for concentrated medical marijuana oils was $2.27 per ml and the average selling price of medical marijuana dried equivalent was $9.71 per gram.

 

About CanniMed Therapeutics Inc.

 

The Company is a Canadian-based, international plant biopharmaceutical company and a leader in the Canadian medical cannabis industry, with 15 years of pharmaceutical cannabis cultivation experience, state-of-the-art, GMP-compliant production process and world class research and development platforms with a wide range of pharmaceutical-grade cannabis products. In addition, the Company has an active plant biotechnology research and product development program focused on the production of plant-based materials for pharmaceutical, agricultural and environmental applications.

 

CanniMed Ltd., a wholly-owned subsidiary of the Company, was the first producer to be licensed under the Marihuana for Medical Purposes Regulations, the predecessor to the current Access to Cannabis for Medical Purposes Regulations.

 

Prairie Plant Systems Inc., a wholly-owned subsidiary of the Company, was the sole supplier to Health Canada under the former medical marijuana system for 13 years, and has been producing safe and consistent medical marijuana for thousands of Canadian patients, with no incident of diversion.

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