CTT Pharma signs LOI with Black Rose Organics, a Canadian Licensed Producer
Tampa, Florida, United States - TheNewswire - April 12, 2022 - CTT Pharmaceutical Holdings, Inc. (OTC:CTTH) has signed a Letter of Intent with Black Rose Organics for a 50/50 joint venture. The terms of the LOI include CTT Pharma and Black Rose agreeing to go into the Canadian recreational and medical markets with our Dissolvable THC and CBD strips. CTT Pharma and Black Rose will offer White Label options to all Cannabis Companies in Canada for retail and online sales, as well as for exportation. CTT and Black Rose will also go to market with our own product lines and assist with sales, including helping Black Rose gain clients for white labeling.
Ryan Khouri, CEO of CTT Pharmaceuticals, said, "I'm looking forward to bringing our Dissolvable Strips to market as I believe there's a clear need for our smoke-free patented technology." Black Rose Organics, a licensed producer in Toronto and CTT, will manufacture THC and CBD strips to start with from their Markham location, which is a 20,000 sq ft facility, with 12 grow rooms. This partnership will give CTT the ability to generate revenue from our high margin product lines and will act as a model for us to continue to monetize our patents in many other locations across the world. CTT will continue to update our shareholders as we progress with Black Rose Organics.
CTT is a drug delivery technology company that successfully received Health Canada approval, after we helped to bring our first product to market as cannabinoid-infused “Dissolve Strips”. This successful launch sold out to only 85,000 medical patients online with no advertising in several weeks. Once dissolved, CTT Pharma's strips enter the bloodstream bypassing the lungs and digestive tract including the liver. Our smoke-free dissolvable strips have better bioavailability, better absorption, faster onset, and can offer zero calories.
CTT common shares trade on the OTC market in the United States under the symbol “CTTH”.
Contact Ryan Khouri at 813-606-0060