RESEARCH & DEVELOPMENT FOR CANNABINOID AND DIABETES PRODUCTS

Carrara target signs LOI for R&D services

2017-04-13 09:49 ET - News Release

Mr. Stephen Van Deventer of PreveCeutical reports
PREVECEUTICAL SIGNS LETTER OF INTENT FOR RESEARCH & DEVELOPMENT FOR CANNABINOID AND DIABETES PRODUCTS WITH UNIQUEST PTY LIMITED
On April 7, 2017, Carrara Exploration Corp.'s PreveCeutical Medical Inc., a health and wellness company focused on utilizing nature and science for the benefit of health-conscious consumers, signed a letter of intent (LOI) with UniQuest Pty. Ltd. which describes the essential terms and conditions for the proposed research and development services to be provided by UniQuest to PMI.

The LOI covers two research programs which align with PMI's vested interest in preventive health care. These programs will focus on development and evaluation translatable formulations for delivery of cannabinoids (CBDs) and delivery of nutraceutical or pharmaceutical products to diabetes patients based on PMI's intellectual property and product line. The parties are currently negotiating the entry into a definitive agreement regarding the services to be provided by UniQuest, which agreement will supersede the LOI once executed by the parties.

The following provide further detail on the proposed research programs and their goals.
Formulation and evaluation of CBD-infused soluble gels (sol-gels) - a patient-friendly platform paving the way for local, systemic and direct nose-to-brain delivery of CBDs.
There is ever-increasing evidence of the broad ranging clinical benefits presented by CBDs, and with recent legalisation of {A ‘}medical marijuana' across a number of jurisdictions, PMI has engaged UniQuest to undertake research into the development and evaluation of translatable formulations for local/systemic/central nervous system ("CNS") delivery of CBDs. Soluble gels (sol-gels), being liquid upon administration and rapidly gelling upon contact with nasal mucosa present an ideal, universally patient-friendly and reliable delivery platform. CBD-infused sol-gels are amenable to patient self-administration, with the added convenience of extended delivery of agents such as CBDs that are rapidly metabolised, or that would benefit from direct systemic or nose-to-brain CNS delivery and providing clinical relief across a range of indications including, although not limited to pain, inflammation, seizures and mental illness.

Dual-Gene Therapy Approach for Obesity & Diabetes using Smart-siRNAs and Tissue Targeted Bio-responsive Carrier Systems To address the alarming rise of obesity and diabetes globally, this program will pursue development of a dual-gene therapy approach towards obesity AND diabetes, with a single gene as the target. The rational design and systematic evaluation of tissue targeted bio-responsive carriers will promote Smart-siRNA delivery with effective gene silencing into cells/tissue of clinical relevance and interest. Assessment of safety and effectiveness in appropriate preclinical models of diabetes will follow paving the way for broader (pre-)clinical safety and efficacy evaluations.

"With our vested interest in the preventive health sector, we have to consider the many health benefits that can be derived from CBDs. We are very excited to work with UniQuest on programs that will enhance PMI's available solutions in promoting good health and wellness including direct nose-to-brain CNS delivery CBD products," commented Mr. Stephen Van Deventer, PMI's Chairman and Chief Executive Officer.

Information on these projects will be presented by Dr. Makarand Jawadekar, Chief Science Officer, and Dr. Harendra (Harry) Parekh at PMI's presentation on April 27, 2017.

Presentation Information:
Venue:The Fairmont Waterfront Hotel (900 Canada Pl, Vancouver, BC V6C 3L5), Malaspina Room
Date: Thursday, April 27, 2017
Time: 1:30 p.m. PDT to 6:00 p.m. PDT
Confirm your attendance, register by clicking here: https://preveceutical-presentation-2017.eventbrite.ca/

Update on Previously Announced Amalgamation and Financing
The non-brokered private placement of up to 10 million units for minimum gross proceeds of at least $1 million and maximum gross proceeds of up to $5 million (the "Financing") being conducted by Carrara Exploration Corp. (CSE:CAA) ("Carrara") pursuant to a previously announced amalgamation agreement (see news release of Carrara dated March 22, 2017 on www.sedar.com) is ongoing. The amalgamation agreement provides for the acquisition of PMI by Carrara by way of a three-cornered amalgamation and a reverse take-over of Carrara by PMI.
We seek Safe Harbor.