United Cannabis Corp (OTCMKTS:CNAB) Remains A Cannabis Runner

United Cannabis Corp (OTCMKTS:CNAB) remains one of the top movers for cannabis investors. The stock has a history of explosive moves as investors look to play the new Green Rush. One of the best bets for investors has been United Cannabis Corp due to its big swings on heavy volume. This liquidity has allowed nimble traders to book profits. The pattern for CNAB has to been to explode higher, only to come crashing down to a new support level. In December that was the $1 level and in 2017, that support moved up to the $1.50 level. With CNAB on the move again, investors are asking if the $3.35 November highs are next.First up, a little background on the company. United Cannabis Corp’s Prana Bio Medicinal products provide patients a way to mix/match cannabinoids for therapeutic purpose. These products, licensed to regulated marijuana dispensaries, are broken into 5 categories that are available in capsules, sublingual’s, and topical delivery methods. The Company uses a patent-pending infusion process utilizing select fatty acids, lipids, and specific combination of cannabis derived terpenes to increase bioavailability.So far this year, CNAB has been active on the pr and deal front. Last month, CNAB completed the construction and deployment of its first mobile testing and extraction laboratory. United Cannabis Corp teamed up with Jamaica-based Cannabis Research & Development and initiated a pilot program in collaboration with the Rastafari Studies Centre for Cannabis Research, University of West Indies, Mona, to establish protocols for the development of Ital Standards which will be used as a guide for the processing, cultivation and consumption of cannabis.

United Cannabis said that it will work in collaboration with the Rastafari Studies Centre to support the activities of the DHAPA Association in accord with their broader objective of establishing an infrastructure for licensed Rastafari farmers and trainees to participate in the Jamaican marijuana industry. The Joint Venture's initial task will be to document and verify the genetics of the Centre's preliminary plantings, as well as provide guidance in the development of appropriate standards and training methods for future activities.

CNAB also signed a Letter of Intent with the Caribbean Institute of Medical Research (CARIMER) to collaborate on advancing clinical research on medical cannabis. According to the terms of the LOI, studies will be conducted under the supervision of the CARIMER team who will be responsible for coordinating and initiating the research and clinical trials for the Prana P1 thru P5 products. Pre-clinical studies will focus on acute and chronic toxicology, while clinical investigations will begin with pharmacokinetic studies and a dose escalation safety study. CNAB's Tony Verzura said:

"For several years we have been tracking patient outcomes using Prana P1 - P5 products with the help of our A.C.T. Now Program and have collected a wealth of anecdotal evidence supporting the safety and efficacy of our medications. Our collaboration in Jamaica with CARIMER is the first of many steps to formally test and confirm the benefits of the Prana line for a broad range of diseases in preparation for pharmaceutical markets."

To fund its growth plans, CNAB entered into an equity line of credit agreement with Tangiers Global, LLC. Under the equity line agreement, Tangiers has agreed to provide the Company with up to $10,000,000 of funding through the purchase of shares of the Company's common stock. During the term of the Agreement, the Company may deliver a Put Notice to Tangiers, which will specify the number of shares which the Company will sell to Tangiers.

The Purchase Price is 85% of the average of the two lowest trading prices of the Company's common stock during the Pricing Period applicable to the Put Notice. The Pricing Period, with respect to a particular Put Notice, is five consecutive trading days including, and immediately following, the delivery of a Put Notice to Tangiers.Currently trading with a market cap of $99 million, CNAB has just 11,180,860 shares in the float. Last Friday, 10% of the float changed hands and the stock had a 40 cent trading range. This combination of a low float and big money pouring into the cannabis space has made CNAB a top cannabis runner. A higher share price also makes its deal with Tangiers less dilutive for shareholders.We will be updating our subscribers as soon as we know more. For the latest updates on CNAB, sign up below!Disclosure: We have no position in CNAB and have not been compensated for this article.