BOULDER, Colo., June 12, 2017 (GLOBE NEWSWIRE) — UMF Group Inc. (OTC Pink:UMFG) (“the Company”) is pleased to announce that internal testing and research is being conducted in preparation for patent applications. UMF Group Inc. is an innovative Medical Marijuana company, which aims to develop and approve particular extracts as pharmaceuticals. The company is conducting data analysis for the proprietary “whole plant” method of extracting various cannabinoids from the marijuana plant and converting them into higher quality and quantity.
The patent application relates to the extraction of pharmaceutically active components from plant materials, and more particularly to the preparation of a botanical drug substance (BDS) for incorporation in to a medicament. It also relates to a BDS, for use in pharmaceutical formulations. In particular it relates to BDS comprising cannabinoids obtained by extraction from cannabis.
Recently, public interest in Cannabis as medicine has been growing, based in no small part on the fact that Cannabis has long been considered to have medicinal properties, ranging from treatment of cramps, migraines, convulsions, appetite stimulation and attenuation of nausea and vomiting. In fact, a report issued by the National Academy of Sciences’ Institute of Medicine indicated that the active components of Cannabis appear to be useful in treating pain, nausea, muscle spasms in multiple sclerosis as well as other problems.
The global demand is growing exponentially and the increasing interest amongst the academic researchers and healthcare providers regarding the therapeutic uses of marijuana is among the significant factors driving the international market over the coming years. A 2017 report from Grand View Research, Inc. estimates that the global medical marijuana market will reach a value of $55.8 billion by 2025.
FORWARD LOOKING STATEMENT
This news release includes forward-looking statements that reflect UMF Group Inc. current expectations about its future results, performance, prospects and opportunities UMF Group Inc. has tried to identify these forward-looking statements by using words and phrases such as “may”, “will”, “expects”, “anticipates”, “believes”, “intends”, “estimates”, “should”, “typical”, “we are confident” or similar expressions. These forward-looking statements are based on information currently available to UMF Group Inc. and are subject to a number of risks, uncertainties and other factors that could cause the Company’s actual results, performance, prospects of opportunities in the remainder of 2017 and beyond, to differ materially from those expressed in, or implied by, these forward-looking statements.
CONTACT: Contact: Sean Ross, President UMF Group Inc. [email protected]