SOURCE: Cannabis Therapy Corp.

Cannabis Therapy Corp.

June 30, 2014 09:00 ET

Cannabis Therapy Corp. Views FDA Reclassification Analysis as a Potential Win for Both Industry and Consumers

BOULDER, CO--(Marketwired - Jun 30, 2014) - Cannabis Therapy Corp. (OTCQB: CTCO) (the "Company") a development stage company aiming to become a leader in the research, development and commercialization of safe, all-natural, THC-free cannabinoid-based medicinal therapies and supplements (Nutraceuticals), is very pleased to note recent media reports that the U.S. Food and Drug Administration ("FDA"), at the request of the Drug Enforcement Administration ("DEA"), is conducting an analysis on whether the U.S. should downgrade the classification of marijuana as a Schedule 1 drug.

Schedule 1 drugs are the most restrictive of the five DEA classifications and are considered substances with no medical benefit and which are highly addictive.

Written testimony provided to a congressional hearing by Douglas Throckmorton, Deputy Director for Regulatory Programs at the FDA confirm reports that the DEA has been petitioned to change marijuana's classification and indicated the request was sent to the FDA which has responded by commencing an eight-factor analysis including drug abuse potential, pharmacological effects and risk to public health.

Cannabis Therapy Corp President & CEO Soren Mogelsvang states, "A classification downgrade makes perfect sense given the growing body of evidence to support a wide number of medicinal benefits associated with cannabis extracts and products. With twenty-two states already permitting medical marijuana and two of them, Washington and Colorado, allowing recreational use, it's clearly the time for a reconciliation of the differences between federal and state laws. Once everyone is on the same page, we can really move ahead and build a lawful and responsible industry that can deliver health benefits and revenues in a win-win environment for both consumers and stakeholders alike."

For more information about the Company please visit www.cannabistherapy.com and watch our corporate video at www.cannabistherapy.com/news/presentations.

Additional details of the Company's business, finances, appointments and agreements can be found as part of the Company's continuous public disclosure as a reporting issuer with the Securities and Exchange Commission ("SEC") available at www.sec.gov. For more information please visit www.cannabistherapy.com.

About Cannabis Therapy Corp. (OTCQB: CTCO)
Cannabis Therapy Corp. aims to develop and market safe, phytocannabinoid-based medicinal products and to apply rigorous manufacturing and quality control standards to become a global leader in the research, development, manufacturing, testing and marketing of cannabinoid ingredients and therapies. For more information visit www.cannabistherapy.com.

Safe Harbor Statement
Any statements contained in this press release that do not describe historical facts may constitute forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. Any forward-looking statements contained herein are based on current expectations, but are subject to a number of risks and uncertainties. The factors that could cause actual future results to differ materially from current expectations include, but are not limited to, risks and uncertainties relating to the availability of additional funding; and the Company's business, product development, marketing and distribution plans and strategies. These and other factors are identified and described in more detail in the Company's filings with the SEC, including, the Company's current reports on Form 8-K. The Company does not undertake to update these forward-looking statements.

ON BEHALF OF THE BOARD,

Soren Mogelsvang, President & CEO
Cannabis Therapy Corp.

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