KannaLife Sciences, Inc. & Biotech Enter Definitive Joint Venture Agreement

Kannalife Sciences, Inc. and Biotech Inc. have entered into a 50/50 joint venture agreement through the creation of South Park Ventures, LLC (SPV). As part of the Joint Venture agreement, KannaLife has acquired the rights, titles, and interests in Cannatol, a phyto-medical compound, derived principally from a highly standardized, consistent, and high yielding organic cannabidiol phyto stock, free from pesticide and mold contaminants in exchange for 1 million shares of KannaLife Sciences, Inc. common stock and a capital investment in SPV.

“We are blessed and truly fortunate to have partnered with Jason Cranford and Biotech Inc,” said Dean Petkanas, CEO of KannaLife Sciences, Inc. in regard to the creation of South Park Ventures. “Jason Cranford is one of the top horticultural scientists in the United States and has proven himself time and again as one of the leading experts in the cultivation of naturopathic and botanical medicaments. Two years ago, he was awarded the prestigious Cannabis Cup, held in category for the first time and specifically to entries of cannabidiol (CBD) producing phenotypes. Jason Cranford’s award winning specimen was an organically produced cannabis phenotype, hybridized over a 3-year period and tested with a certificate of analysis recording the highest yielding organic CBD (cannabidiol) yield known to date at over 34%. His botanical research and knowledge of plant variants will play a critical role in the establishment of reference standards for KannaLife’s formulary, database, and standardization processes for botanical medicaments.”

“Partnering with KannaLife Sciences opens up a window to establishing industry standards for phyto-medical products, which includes providing certification, quality control, and quality assurance standards for the growing of botanicals for use as medicine,” added Jason Cranford, CEO of Biotech. “All too often, products are being sold with low qualitative standards and little to no oversight. In the field of cannabis related medicine, there is a widespread problem with contaminated crops being grown by illegal market participants and sub-standard producers. These products are largely in demand by a variety of patients across a pantheon of disease indications, most notably cancer patients. It is vitally important not to compromise chemotherapy with products containing trace elements, mold, and pesticides consistently found in low grade untested and unsanitary products. Through South Park Ventures, we believe we will put forth, among other things, a gold standard from seed to sale on cannabis related medicaments.”

Biotech, Inc. is the creator of Cannatol, phyto-medical compound, derived principally from a highly standardized, consistent, and high yielding organic cannabidiol phyto stock, free from pesticide and mold contaminants.

KannaLife Sciences, Inc. is a late-stage biopharmaceutical and phyto-medical company involved in the research and development of novel new therapeutic agents designed to reduce oxidative stress, and act as immuno-modulators and neuroprotectants. KannaLife Sciences currently holds an exclusive license with National Institutes of Health – Office of Technology Transfer for the commercialization of US Patent No. 6,630,507, Cannabinoids as Antioxidants and Neuroprotectants. KannaLife is currently conducting research and development at the Bucks County Biotechnology Center in Doylestown, PA, for a target drug candidate to treat Hepatic Encephalopathy. For more information, visit www.kannalife.com.