Canbiola, Inc. (OTCQB: CANB) Announces the Formation of a New Wholly Owned Subsidiary- DuraMed, Inc.
HICKSVILLE, NY, Jan. 24, 2019 (GLOBE NEWSWIRE) --
via NEWMEDIAWIRE -- Canbiola, Inc. (CANB)
announces the formation of a new wholly owned subsidiary- DuraMed,
Inc.
In an effort to expand its product offering within the medical and wellness segments of the CBD industry, Canbiola has launched DuraMed, Inc., as a wholly owned subsidiary. DuraMed is a medical device company that provides equipment and services to both medical offices as well as direct to consumer. All DuraMed products will be FDA approved, non-invasive, consumer-friendly, and will focus upon aiding in quicker injury recovery as well as pain relief.
In conjunction with this newest vertical, Pure Health Products, Inc. (Pure Health), Canbiola’s laboratory and production facility in Lacey WA, will be supplying DuraMed with its first consumer products. Additionally, Pure Health and Canbiola have just closed an agreement with Hudilab, Inc., to acquire the technology and intellectual property to produce transdermal pads for use with medical devices such as Transcutaneous Electrical Nerve Stimulation (TENS) units. Anyone who has ever suffered from chronic back, knee or joint pain has likely found that the TENS unit technology can deliver pain relief and can be used at home. The technology acquisition from Hudilab provides the ability in infuse the TENS pads with effective dosages of CBD. This technology allows multiple uses of the pads without losing adhesion while allowing the hemp-derived therapeutic compounds (botanicals) in the CBD to attack the pain and be absorbed into the system.
As Canbiola’s CEO Marco Alfonsi says, “This is an incredible breakthrough in pain relief and wellness technology. By taking the proven medical device technology in the TENS unit and combining it with the proprietary CBD compounds developed by Canbiola is truly game-changing!â€
According to Hudilab’ s CEO Frank Horwich, “Canbiola is creating a new category of CBD wellness products. Combining CBD with established and well recognized ‘medical devices’, Canbiola is now able to deliver a treatment that delivers the best of both technologies.†Mr. Horwich added, “This positions Canbiola to dominate a newly emerging sector in the CBD via creating new modalities of treatment incorporating CBD and medical devices proven to reduce pain and inflammation.â€
According to Mr. Alfonsi, “We believe market conditions are optimal for a CBD delivery system to be combined with the popularity of the TENS units. These CBD infused pads are a technology breakthrough. There are hundreds of thousands of TENS units from scores of manufacturers in use today and the ability to provide the pads with CBD is huge.†Mr. Alfonsi continued, “The Pure Health facility is geared up for major production and expects its first of many orders shortly.â€
Lastly Mr. Ferro, President of Pure Health, added, “To have a nationally recognized cannabis industry professional as Mr. Horwich available to Pure Health provides the company with a level of knowledge and an unprecedented technical and practical resource on the new product development team that will facilitate and excite our production plans well into the future.â€
Hudilab, Inc. is a Colorado-based new technology developer in the expanding use of industrial hemp derived CBD opportunities. The Hudilab team are leaders in combining the medical benefits CBD with medical technology and improving its effectiveness. The company, as well as Mr. Horwich, have worked in conjunction with some of the largest universities and development laboratories in the USA with expanding the knowledge base and use of cannabis products. Additionally, Hudilab is active with several South American countries in development of hemp opportunities.
About Canbiola, Inc.:
Canbiola, Inc. is a public company trading under symbol CANB.
Canbiola, Inc. is a US Company embarking in the sale of a variety of Cannabidiol (CBD) based products. Canbiola has developed its own line of proprietary products as well as seeking synergistic value through acquisitions in the CBD and the medical cannabis industry. Cannabis is currently federally illegal and has legalized for medical purposes in some form in a limited number of states, but pure CBD products are legal in all 50 states. The company has already launched several products found at www.canbiola.com.
Forward-looking statements and risks and uncertainties discussed in this letter contain forward-looking statements. The words "anticipate," "believe," "estimate," "may," "intend," "expect," and similar expressions identify such forward-looking statements. Expected, actual results, performance, or achievements could differ materially from those contemplated, expressed, or implied by the forward-looking statements contained herein. Forward-looking statements are subject to a number of risks and uncertainties, including but not limited to, risks and uncertainties associated with, among other things, the impact of economic, competitive, and other factors affecting our operations, markets, products, and performance. The matters discussed herein should not be construed in any way, shape or manner of our future financial condition or stock price.
CONTACT INFORMATION
Canbiola Investor Relations
Email: [email protected]
Phone: (516) 595-9544
website: http://www.canbiola.com
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