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Saturday, November 26, 2022

United Cannabis Corp. (OTCBB:CNAB) On Close Watch

United Cannabis Corp. (OTCBB:CNAB) has fallen some in recent days after the big run up the stock made topping out at just under $2 a share. CNAB is a stock with a history of huge moves running from $0.05 to $11.45 this time last year.

Speculators are looking for pot stocks to heat up again here; major catalyst are expected to be the rescheduling of marijuana out of its current Schedule I classification. In October U.S District Judge Kimberly Mueller heard testimonies during a five day evidentiary hearing aimed at determining if the Schedule I dangerous drug is unconstitutional.

The ruling is expected to come sometime later this year and many expect to see a domino effect for the entire pot sector culminating in treasury issuing rules and regulations for working with marijuana businesses. Once they are able to use banks the entire business is expected to really take off.

The stars aligned for CNAB when the U.S. Justice Department recently said that Indian tribes can grow and sell marijuana on their lands as long as they follow the same federal conditions laid out for states that have legalized pot.

This opened up the door for Indian Reservations to mount large scale grow operations and United Cannabis Corp along with FoxBarry Farms has emerged as the de facto consultant and business partner in this new emerging multi-billion dollar industry.

United Cannabis Corp. (OTCBB:CNAB) The big story here is the planned $10 million indoor large-scale, federally-legal marijuana farm on Pinoleville Pomo Nation land located near Ukiah, Mendocino County California. United Cannabis Corp along with Foxbarry farms will be running the entire operation.

The 250-member Pinoleville Pomo Nation said on January 8 that is has entered into a contract with United Cannabis and Kansas-based FoxBarry Farms to grow thousands of marijuana plants on its 99-acre rancheria just north of Ukiah.

This is the first of 3 such grow operations that are planned in California by United Cannabis and FoxBarry and construction on the 2.5-acre indoor facility is expected to begin within a month and operations are expected to be underway in February, according to a spokesman for the tribe.

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United Cannabis Corp came into being in May 2014 after the name change from MySkin Inc to reflect the Company’s entry into the pot industry. The shell was originally formed as a California Corp on November 15, 2007. The Company changed their state of incorporation to Colorado when they changed their name to United Cannabis Corp.

United Cannabis Corp. (OTCBB:CNAB) was founded to advance the use of cannabinoids in medicine through research, product development and education. The Company is dedicated to improving the lives of patients through the creation of products using only the highest quality genetics, purest extractions and most effective protocols possible.

CNAB A.C.T. Now Program and patent-pending Prana Bio Nutrient Medicinals provide a comprehensive solution, designed to enable physicians and patients to design, implement and monitor effective therapy protocols.

CNAB focus is to develop and license proprietary cannabinoid products for a variety of therapeutics applications as well as license their proprietary software to physicians seeking cannabinoid-­‐based products.

Now is a great time to be in pot stocks; according to a recent report from MMJ Business Daily suggests that 2015 is expected not only to see more investment dollars flow into the market but it could even outpace the growth rate seen in 2014. States like Nevada, Illinois, Massachusetts, Oregon, and Alaska have all been identified as industry drivers this year. Furthermore, the rise in “big money” from some major investment funds has just started to hit the sector.

United Cannabis Corp recently signed a consulting and licensing agreement with FoxBarry Farms, LLC whereby 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 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.

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Currently trading at a $60 million market valuation CNAB is racing up the charts recently transforming itself into one of the top traded stocks on the entire OTCBB and its easy to see why; pie in the sky penny stock pot stocks are a dime a dozen but CNAB is the real deal with their planned $10 million large-scale grow operation on Pinoleville Pomo Nation. This will be the first federally-legal marijuana farm in the United States and it puts United Cannabis Corp into the eye of the national media. This has created an explosive situation for CNAB with just 3.75 million shares in the public float.

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Disclosure: we hold no position in CNAB either long or short and we have not been compensated for this article

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