IRVINE, CA--(Marketwired - Apr 20, 2017) - Cannabis Science, Inc. (OTC PINK: CBIS), a U.S. company specializing in the development of cannabinoid-based medicines, recently announced a pending offering memorandum for expansion capital, another large drug development deal, and an expedited seeding schedule, all of which are expected to create sustainable equity value and unprecedented revenue growth for the company.
In terms of the big picture, the company expects to build more drug development programs across the nation, expanding its capacity for research and development substantially, by expanding its programs similar to its Collaboration Research Agreement with Dana-Farber.
The company looks to raise $25 Million in order to maximize investment capacity and continue to gain early footholds into new markets. With the cannabis industry being in its infancy, early adopters have the opportunity to become the name brands of the industry, and this is exactly what Cannabis Science is experiencing. The money will be used to develop a strong footprint on the east coast, building up its land portfolio with thousands of acres available with a strong network of business partners out east, similar to the footprint the company has accomplished on the west coast.
In addition to the capital infusion, Cannabis Science with RCDU recently reached an agreement for another large cultivation land deal in California. Working with sovereign groups has greatly reduced legislative and financial barriers, as with the other land deals, this property is expected to be developed into a self-sustaining community in order to create economic and academic opportunities in the cannabis industry. This means building R&D facilities and staffing them cultivating, research and drug development, and of course partnership opportunities with investors and various other third parties.
Cannabis Science recently pushed up the seeding schedule on 350 acres of grow land for May of 2017. The potential here is tremendous, as there is a potential yield of up to 1,600 pounds per acre, and wholesale prices exceed $500 per pound. This means there is unprecedented revenue potential in the near future for all of those involved.
"We are seeking to take control of our supply chain and as we track our progress we are very pleased to be successfully moving forward in a very profound manner; this means our costs will go down substantially, our margins will improve significantly, and we will be able to move new products to market much more quickly and affordably as we move forward," said President, CEO & Co-Founder Mr. Raymond C. Dabney. "These are some of the goals we have been working towards for years and now the momentum is yielding the extrapolated returns and much, much more. This is the beginning of a new era for Cannabis Science. Happy 4/20!"
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. Cannabinoids have an extensive history dating back thousands of years, and currently, there are a growing number of peer-reviewed scientific publications that document the underlying biochemical pathways that cannabinoids modulate. 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, HIV/AIDS, and neurological conditions. The Company is proceeding with the research and development of its proprietary drugs as a part of this initial focus: CS-S/BCC-1, CS-TATI-1, and CS-NEURO-1, respectively.
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 Act of 1934. 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. Some or all of the events or results anticipated by these forward-looking statements may not occur. 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. Safe Harbor Statement. The Private Securities Litigation Reform Act of 1995 provides a 'safe harbor' for forward looking statements. Certain of the statements contained herein, which are not historical facts are forward looking statements with respect to events, the occurrence of which involved risks and uncertainties. These forward-looking statements may be impacted, either positively or negatively, by various factors. Information concerning potential factors that could affect the company are detailed from time to time in the company's reports filed with the Securities and Exchange Commission.