Late stage bio-pharmaceutical and phyto-medical company Kannalife Sciences and Biotech have signed a 50/50 definitive joint venture agreement by creating South Park Ventures (SPV).
Biotech CEO Jason Cranford said, "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."
In exchange for 1,000,000 shares of KannaLife Sciences, Inc. common stock and a capital investment in SPV, KannaLife purchased rights, titles and interests in Cannatol.
Derived from a standardized, consistent and high yielding organic cannabidiol phyto stock, the phyto-medical compound is free from pesticide and mold contaminants.
KannaLife Sciences CEO Dean Petkanas said, "Jason Cranford's award winning specimen was an organically produced cannabis phenotype, hybridized over a three year period and tested with a certificate of analysis recording the highest yielding organic CBD (cannabidiol) yield known to date at over 34%."