United Cannabis Corp. (fka CNABQ)

[John Kent]

False Tangiers is a toxic lender. Had it not been toxic they would have been issued warrants or restricted shares preventing any conversion for a period of a year or two.

IT is what it is at this point this is how companies end up as pennies making moves such as this one.

GLTU


The Company issued a promissory note to Tangiers for the principal sum of $35,000 as a commitment fee for the equity line. The note bears interest at 10% per year, is unsecured, and is due and payable on July 8, 2017. At the option of Tangiers, all or any part of the unpaid principal amount of the note may be converted into shares of the Company's common stock. The number of shares to be issued on any conversion will be determined by dividing the principal amount of the note to be converted by $1.00.

https://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=11760163