Subject: CNAB Rebounds Nicely Up 16% So Far

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CNAB Rebounds Nicely Up 16% So Far
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Company: United Cannabis Corp. (OTCQB: CNAB)


Price: 1.46

Change (%): + 0.20 (15.87)

Volume: 75,677
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United Cannabis Corporation Signs Licensing Agreement for California with Foxbarry Farms Tribal Development Group

FoxBarry Farms, LLC Will Be the Exclusive Producer and Distributor for All United Cannabis Branded Products in California

DENVER, CO / ACCESSWIRE / January 6, 2015 / United Cannabis Corporation (OTCBB: CNAB) (the “Company” or “United Cannabis”) today announced that it has signed a consulting and licensing agreement with FoxBarry Farms, LLC (“FoxBarry”), whereby FoxBarry will be the exclusive licensee and distributor of United Cannabis branded medical marijuana products in the State of California.

Agreement Highlights:

  • FoxBarry will be the exclusive authorized distributor of the United Cannabis brand of medical cannabis products in the State of California
  • FoxBarry has earmarked 30 million dollars to fund all phases of the California state-wide program
  • The Company will receive $200,000 in prepaid royalties for exclusive licensing rights in the State of California
  • United Cannabis will provide a variety of consulting services to FoxBarry-managed operations, including cultivation, harvesting, processing and sales of medical marijuana and medical marijuana infused product
  • United Cannabis will assist FoxBarry in coordinating programs with at least three different federally recognized tribes on their reservations, covering the northern, central and southern areas of California
  • The first location will be located in Northern California, and operations are expected to begin in the next 30-45 days
  • United Cannabis will receive a 15% royalty payment on the net sales derived under the agreement
The FoxBarry group of companies provides a variety of economic development opportunities to its Native American partners. Working directly with its tribal partners, FoxBarry provides funding and management expertise in turnkey business enterprises that work within the constructs of the laws and ordinances of the tribes.

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