[ACCESSWIRE]
TORONTO, ON / ACCESSWIRE / June 30, 2015 / The Canadian Bioceutical Corporation (TSX Venture: BCC) ("BCC" or the "Company") is pleased to announce that it has entered into a consultancy agreement with Dr. Miles Thompson, B.Sc, Ph.D. to advise and assist the Company in the development of its nutraceutical products, including derivatives and concentrates of cannabinoid-based medicinals.
Dr. Thompson served as a Clinical Research Associate at North York General Hospital in Toronto and initiated the study of cannabinoids in epilepsy at the Department of Pharmacology and Toxicology at the University of Toronto. He has extensive experience in the design and implementation of clinical trials administered by Health Canada.
Starting in May 2013, Dr. Thompson managed in vivo testing of cannabidiol in animal models of epilepsy at the Department of Pharmacology at the University of Toronto; a proof of principal necessary for human clinical trials. He has demonstrated his strong expectation of the efficacy of cannabinoids to treat various medical conditions and brings a keen familiarity and understanding of the research studies being conducted globally.
With over 40 publications in various journals and several awards to his credit, including ones from Epilepsy Canada and the Canadian Institutes of Health Research, Dr. Thompson brings a wealth of knowledge and relationships that can assist BCC in the development and testing of new and advanced natural health products and will be our principal liason in BCC's ongoing collaboration with its Israel-based research partner, Cannabliss Inc.
"We welcome Dr. Thompson's assistance in the development of new naturopathic products, especially those based on marijuana and hemp extracts and derivatives. There is great promise that the scientific community will use the active ingredients in marijuana and hemp to add to the wellness of people all over the world without the harmful side effects associated with many existing pharmaceutical treatments," states Scott Boyes, BCC's CEO. "These new products can be manufactured here in Canada and exported or licensed around the world as countries continue to amend and relax regulations in favour of medical marijuana use. We believe this will present new revenue opportunities for our company and create new value for our stakeholders."
Additional details in relation to BCC's plan to enter into the medical marijuana sector may be found in the company's two (2) News Releases of January 7, 2015 with the most recent update provided in BCC's News Release of May 11, 2015.
About The Canadian Bioceutical Corporation
BCC, formerly Allegiance Equity Corporation, is an Ontario corporation that, for over two decades has been developing unique standardized mass-market nutraceutical products for the treatment of common ailments where present pharmaceutical treatments and over-the-counter products fail to meet the needs of patients. BCC has targeted markets having clearly identified product deficiencies and dissatisfied consumers afflicted with a variety of medical conditions. BCC obtains regulatory approval and patents for these unique compounds and formulations and may produce and distribute or license its products for royalty revenues.
BCC's principal brands are CinG-X(TM), Reliéva(TM), and Psorberine(TM) and FertaMax(TM). Additionally BCC, through its wholly-owned subsidiary BioCannabis Products Ltd. and, subsequent to receiving its MMPR license from Health Canada and the potential revision of the related regulations, intends to develop and market a series of new cannabis-based branded medicinal products to address this rapidly-evolving market.
Investors should be aware that companies cannot legally conduct a medical marijuana business without a license from Health Canada and that there is significant time and cost required to obtain such a license. As a publicly-traded company publicizing its intention to enter the medical marijuana industry, BCC urges potential investors in any company in this sector, to become familiar with the required resources and the related risks, costs implications and time required before a company will be able to begin licensed operations. There is no assurance that any company announcing its intent to enter the medical marijuana industry will be successful in obtaining a license or in creating shareholder value.
Cautionary Statement Regarding Forward-Looking Information
This news release includes certain "forward-looking statements" under applicable Canadian securities legislation that are not historical facts. Forward-looking statements involve risks, uncertainties, and other factors that could cause actual results, performance, prospects, and opportunities to differ materially from those expressed or implied by such forward-looking statements. Forward-looking statements in this news release include, but are not limited to, the Transaction and BCC's objectives and intentions. Forward-looking statements are necessarily based on a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties and other factors which may cause actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to: general business, economic and social uncertainties; litigation, legislative, environmental and other judicial, regulatory, political and competitive developments; delay or failure to receive board, shareholder or regulatory approvals; those additional risks set out in BCC's public documents filed on SEDAR at www.sedar.com; and other matters discussed in this news release. Although BCC believes that the assumptions and factors used in preparing the forward-looking statements are reasonable, undue reliance should not be placed on these statements, which only apply as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. Except where required by law, BCC disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the Policies of the Exchange) accepts responsibility of the adequacy or accuracy of this release.
For further information please contact:
Scott Boyes, President and CEO, The Canadian Bioceutical Corporation
[email protected]
(416) 840-4703
SOURCE: The Canadian Bioceutical Corporation
