COLORADO SPRINGS, Colo.,
Aug. 11, 2014 /PRNewswire/ --
Cannabis Science, Inc. (OTC-QB: CBIS), a U.S. Company specializing
in cannabis formulation-based drug development and related
consulting, signs a binding letter of
intent with its existing Michigan partners, increasing Cannabis
Science's equity position from 20% to 50.1% in its joint venture in
the Michigan medical cannabis and
hemp markets, Michigan Green Technologies LLC (MGT).
MGT is the leading resource for legislative initiatives and
management consulting in Michigan
with regard to cannabinoid-based drug development, nutraceuticals,
food supplements, cosmeceuticals and food products. As the
State of Michigan progresses and
matures its legislative environment, the prospects for delivering
cannabis-based patient care are rapidly growing. Michigan's open-minded approach to legislation
is likely to make it a leading US state in which cannabis-based
care is fully integrated into the general healthcare system, thus
providing quality and safety to patients. MGT operations are
expected to include the opening of a hemp-based product retail
facility in early 2015, followed by medical cannabis
operations.
"We have been working tirelessly with our partners in
Michigan to be the best resource
in the state, including work with key lawmakers. With
Cannabis Science's increased investment and our partners'
long-standing relationships with hospitals, universities, and the
state government, MGT is in an advantageous market position, which
I believe translates into our being the strongest hemp and cannabis
resource in the state for the benefit of Michigan's 10 million citizens," said
Robert Kane, Director and CFO of
Cannabis Science, Inc.
"We are grateful to our partners at Cannabis Science.
Michigan is making significant progress in establishing
its medical cannabis program and general hemp industry -- and we
are playing an active role. Cannabis Science and its
scientific expertise make it the best partner for us here in
Michigan. We are thankful to Dr. Bray and the entire Cannabis
Science team and are excited about our future together," stated
Christ Gorges, Vice President, Michigan Green Technologies LLC.
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
Tel: 1.561.420.4824
Raymond C. Dabney, Management
Consultant, Co-Founder
raymond@cannabisscience.com
Tel: 1.310.650.3788
SOURCE Cannabis Science, Inc.