CannaRoyalty Acquires Exclusive Rights to License the MüV Transdermal Patch and MüV Metered Dose Inhaler
Ottawa, Canada – March 30, 2017 – CannaRoyalty Corp. (CSE:CRZ) (OTCQB: CNNRF) (“CannaRoyalty” or the “Company”) is pleased to announce it has signed a binding term sheet giving CannaRoyalty the exclusive right to license certain of NuTrae LLC’s (“NuTrae”) award-winning line of MüV cannabis-derived medical products, the MüV Transdermal Patch and MüV Metered Dose Inhaler, in Canada, Puerto Rico, Massachusetts, Washington, Oregon, Nevada and California.
NuTrae (doing business as MüV) is a subsidiary of Alternative Medical Enterprises (doing business as AltMed Enterprises), and launched the MüV product line in Q3, 2016 exclusively in the Arizona medical market where it’s affiliate operates a world-class state-of-the-art 30,000 square foot cultivation and processing facility. Since then MüV has won multiple “Best of Arizona” medical cannabis awards, including two 1st prizes for MüV’s proprietary ethanol extractions. CannaRoyalty’s affiliate, Cannroy Delaware, Inc., currently holds an 8.2% ownership position in AltMed Enterprises and earns a 3.5% royalty on the sales of all NuTrae products sold globally.
“The MüV line of products is uniquely positioned in the medical cannabis industry by having developed pharmaceutical-grade medical products such as the MüV Transdermal Patch and MüV Metered Dose Inhaler,” said Marc Lustig, CEO of CannaRoyalty. “These products are exciting additions to our recently established CR Brands platform that consists of a broad portfolio of wholly-owned and licensed brands which will be licensed or distributed throughout key North American markets.”
CannaRoyalty is a fully integrated, active investor and operator in the legal cannabis sector. Our focus is to build and support a diversified portfolio of growth-ready assets in high-value segments of the cannabis sector, including research, consumer brands, devices and intellectual property. Our management team combines a hands-on understanding of the cannabis industry with seasoned financial know-how, assembling a platform of holdings via royalty agreements, equity interests, secured convertible debt and licensing agreements.
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