Kubby’s pending medical marijuana patent sold

Steve Kubby of South Lake Tahoe is selling his medical marijuana patent that is pending for $1 million and has been hired to be CEO of Cannabis Sativa Inc.

Cannabis Sativa (CBDS) has signed an agreement to purchase the patent pending for what is being called af super potent medicinal cannabis strain. The agreement gives CBDS an option to purchase KUSH Inc., the owner of the patent pending, for an additional $1 million. Kubby owns KUSH.

CTA is considered a superior strain of cannabis. Photo/Provided

The strain, called CTA, has been under review by the U.S. Patent Office since April 30, 2010.

“We are very pleased to announce our acquisition of what we believe will be the world’s first patented cannabis plant,” Cannabis Sativa President David Tobias said in a press release. “(Kubby) played a key role in raising the money to put Prop. 215, California’s historic 1996 medical marijuana voter initiative, on the ballot. He is a pioneer and respected leader in the cannabis community and brings a wealth of experience and contacts to CBDS.”

The KUSH management team, which includes cannabis expert Ed Rosenthal, former New Mexico Gov. Gary Johnson and former Sen. Mike Gravel, D-Alaska, is expected to join CBDS.

“The economic opportunities from the emerging cannabis economy are staggering. For example, in the first three days of 2014, my cannabis stocks nearly tripled in value. My friends and I are all prospering beyond our wildest dreams, because of legal cannabis businesses and so can you,” Kubby told Lake Tahoe News.

— Lake Tahoe News staff report