Cannabis Science In Final Negotiations To Establish Its First Medical Cannabis Facilities In Canada
COLORADO SPRINGS, Colo., Aug. 7, 2014 /PRNewswire/ — Cannabis Science, Inc. (OTC-QB:CBIS), a U.S. company specializing in cannabis formulation-based drug development and related consulting, is in the final stages of launching a new joint venture company for the purpose of acquiring, financing, building, owning and operating medical cannabis facilities, including dispensaries and growing operations, throughout Canada.
The Company believes that this joint venture has the potential to expand the Company’s operations outside of the United States and to allow the Company’s entry and expansion into Canada’s marketplace.
“Acquiring cannabis facilities in Canada represents a compelling business opportunity developed through our focus on collaborative innovation and takes one of our international initiatives to the next level,” said Chad S. Johnson, Director, COO and General Counsel of the Company. “We are excited to be working jointly with our partners, which allows us to leverage our respective global research knowledge and resources to facilitate the Canadian operations. The Company also intends to use these facilities for research and development purposes in addition to the selling of the cannabis products under relevant laws and regulations. More to come.”
While the Company is optimistic about the potential for commercialization of cannabis products, it recognizes that, as with the acquisition and development cannabis facilities, the process can be lengthy and without assurances.
About Cannabis Science, Inc.
Cannabis Science, Inc., takes advantage of its unique understanding of metabolic processes to provide novel treatment approaches to a number of illnesses for which current treatments and understanding remain unsatisfactory. The Company works with leading experts in drug development, medicinal characterization, and clinical research to develop, produce, and commercialize novel therapeutic approaches for the treatment for illnesses caused by infections as well as for age-related illness. Our initial focus is on skin cancers and neurological conditions.
Forward Looking Statements
This Press Release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, that are not historical facts, and involve risks and uncertainties that could cause actual results to differ materially from those expected and projected. A statement containing words such as “anticipate,” “seek,” intend,” “believe,” “estimate,” “expect,” “project,” “plan,” or similar phrases may be deemed “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements relate to future events or future performance, but reflect CBIS management’s current beliefs, based on information currently available. Some or all of the events or results anticipated by these forward-looking statements may not occur. A number of factors could cause actual events, performance or results to differ materially from the events, performance and results discussed in the forward-looking statements.
Factors that could cause or contribute to such differences include the future U.S. and global economies, the impact of competition, and the Company’s reliance on existing regulations regarding the use and development of cannabis-based drugs. Cannabis Science, Inc., does not undertake any duty nor does it intend to update the results of these forward-looking statements, whether as a result of new information, future events or otherwise.
Robert Kane, CFO & Director
Cannabis Science, Inc.
Raymond C. Dabney, Management Consultant, Co-Founder
SOURCE Cannabis Science, Inc.