Cannabis Therapy Corp. announced the execution of a definitive licensing agreement with Canna-Pet, LLC. Under the terms of the agreement, Cannabis Therapy Corp., in exchange for sales royalties, now has an exclusive worldwide license and rights to the technology and products currently developed by Canna-Pet, LLC and the possibility for co-development of future animal health products.

The agreement covers production and sale of animal health and pet products made from hemp, a low-THC cannabis plant and results in the transfer of future revenues, brand identity, management expertise, goodwill, sales materials and customer base from Canna-Pet, LLC to Cannabis Therapy Corp. The animal health sector encompasses livestock and working animals as well as pets. Whether an animal has high intrinsic value or is a valued family member, quality assured, pharmaceutical grade products are in great demand and significantly aid in the creation of trusted, high value brands.

Canna-Pet products were developed in a collaboration between Doctors of Veterinary Medicine in six states and an MIT entrepreneur. The company is the culmination of twenty years of research and development in cannabinoid therapies for animals. Canna-Pet, LLC currently leads the industry with veterinarian recommended, legal, over the counter Cannabidiol products for pets made in the USA from industrial hemp.