United Cannabis Corp (OTCMKTS:CNAB) has associated with and Cherubim Interests, Inc. subsidiary to design, develop and execute mobile extraction labs for offering services to the cannabis industry. The group predicts to begin assembly and establishment of the labs in the approaching period, and should initiate shipping by year-close.
The management view
Earnest Blackmon, who is the CEO of United Cannabis, reported that the prospect to work with Budcube Cultivation Systems is something they couldn’t leave. They balanced their construction experience with the manufacturing and processing expertise, to advance a functioning lab grade setup that fits in a mobile trailer. The consequence is an item that serves firm’s needs and mounting demand of the industry.
Blackmon reported that they have spent considerable time performing the groundwork, getting into meaningful associations and obtaining the licenses, which permits to introduce operation in Jamaica with CRD. This mobile extraction lab will permit the platform they look for to commence the task. Once it’s achieved, the company will have an innovative turnkey setup that will permit it to begin processing plants for terpenes and for other compounds.
Patrick Johnson added that they are excited on their strategic linkage with United Cannabis as it brings them credibility within the booming marijuana sector. It opens up a fulfilling niche market within the marijuana sector where they can put on diversified construction skill and knowledge. The firm will launch conceptual designs of these labs in the imminent period.
Cherubim and its subsidiary unit is planning completing of its cited business objectives as per the present understanding of Local and State guidelines and Federal Enforcement regulations because it links to marijuana. It intends to take future steps cautiously referring to compliance and legal problems. Potential shareholders and stockholders are cautioned that the entities will get advice of professionals before actualizing any fraction of their business scheme.
In last trading session, the stock price of United Cannabis jumped more than 19% to close the day at $1.18. The gains came at a share volume of 1.14 million compared to average share volume of 1.31 million.