COLORADO SPRINGS, Colo.,
Feb. 20, 2014 /PRNewswire/ -- (OTC:
CBIS) Cannabis Science, Inc., a U.S. Company specializing in
cannabis-based pharmaceutical development and related consulting
operations, has agreed to finance $1
million to satisfy its current capital requirements.
Cannabis Science is raising the $1
million through private placement. The pricing is set at
$0.25 per share for 144 restricted
shares coupled with a one-year warrant for $0.50 per share to comprise a complete unit
offering.
The financing is being headed by affiliates and associates
followed by an assorted group of individuals that have shown a
strong interest in moving Cannabis Science's projects forward
immediately. Initial commitments exceed $100,000.00 and the Company has received the
first $50,000.00. The intended
projects include fast tracking cancer initiatives and its
observational studies for the existing CBN patent the Company filed
last year. Information about that patent can be found here:
http://cannabisscience.com/index.php/news-media/news-releases/321-cannabis-science-inc-cbis-announces-submission-of-cannabinoid-based-patent-application-n2010968-titled-composition-for-the-treatment-of-neurobehavioral-disorders
"The market has shown an overwhelming interest in our
story. This comes at the perfect time as our projects are
coming to a point of maturity that will allow us to take the next
important steps forward. These steps should create revenues
that will support Cannabis Science going forward on an ongoing
basis," stated Robert Kane, CFO of
Cannabis Science.
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 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 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.
Cannabis Science,
Inc.
Dr. Dorothy Bray, CEO & Director
www.cannabisscience.com
dorothy.bray@cannabisscience.com
info@cannabisscience.com
Tel: 1.888.777.0658
|
Investment
Inquiries
Robert Kane, CFO & Director
robert.kane@cannabisscience.com
561.420.4824
|
SOURCE Cannabis Science, Inc.