Tangiers Global Doubles its Commitment to $10 Million for United Cannabis Corporation
January 04 2017 - 12:27PM
Access Wire
DENVER CO / ACCESSWIRE / January 4, 2017 /
United Cannabis Corporation (OTCQB: CNAB) (the "Company" or "United
Cannabis") today announced that Tangiers Global ("Tangiers")
doubled its Fixed Funding Commitment (the "Commitment") from $5
million to up to $10 million.
Justin Ederle, Managing Partner of Tangiers Global, LLC,
commented on the announcement, "After additional analysis of the
Company's recent performance and expansion strategy, we realized a
larger investment was in order and immediately moved to increase
our commitment. We feel the additional funds will allow the Company
to hit a growth rate once out of reach due to a lack of proper
capital reserves. That's one of the advantages of being a private
fund - we can move quickly when we see an opportunity like
this."
Earnest Blackmon, United Cannabis' Chief Executive Officer, also
commented, "United Cannabis made considerable progress over the
past year, thanks largely to the dedication and conviction of
senior management - who took to selling stock to help fund
operation when things were particularly lean. So we're thrilled to
have the support of an investor like Tangiers. Their commitment
will not only enable us to accelerate our expansion, but also allow
us to be proactive when new opportunities arise, which should
benefit all of our shareholders."
About United Cannabis Corporation
The Company's Prana Bio Medicinal products provide patients a
way to mix/match cannabinoids for therapeutic purposes. These
products, licensed to regulated marijuana dispensaries, are broken
into 5 categories that are available in capsules, sublingual's, and
topical delivery methods. The Company uses a patent-pending
infusion process utilizing select fatty acids, lipids, and specific
combinations of cannabis derived terpenes to increase
bioavailability.
For further information, please visit www.unitedcannabis.us.
About Tangiers Global
Tangiers Global provides working and expansion capital to small
and microcap public companies through a variety of investment
structures, including the new Fixed Funding Commitmentâ„¢. Working
with clients across multiple sectors, Tangiers prides itself on
building long term relationships with its client companies to
ensure that they have the resources necessary to propel their
growth year after year.
Contact: Staff@UnitedCannabis.us
Phone: 303-386-7321
Certain statements in this news release may contain
forward-looking information within the meaning of Rule 175 under
the Securities Act of 1933, are subject to Rule 3b-6 under the
Securities Exchange Act of 1934, and are subject to the safe
harbors, created by those rules. All statements, other than
statements of fact, included in this release, including, without
limitation, statements regarding potential future plans and
objectives of the company, are forward-looking statements that
involve risks and uncertainties. There can be no assurance that
such statements will prove to be accurate and other results and
further events could differ materially from those anticipated in
such statements. Future events and actual results could differ
materially from those set forth in, contemplated by, or underlying
the forward-looking statements.
SOURCE: United Cannabis Corporation