DENVER, CO--(NewMediaWire - Mar 13, 2017) - CB Scientific, Inc.
(OTC PINK: CBSC), a designer, developer and manufacturer
of Cannabis Analytical Tools and Devices, Cannabis Medical Delivery
Systems and Personal Analytical Kits and Devices, announces today
that the Company, on February 24th, completed a Stock For Asset
Exchange Agreement with Marutronics LLC, a Florida Limited
Liability Company (MMD) and Bobban Subhadra and Vijitha
Vivekanandan, equal members of MMD. Subject to the terms and
conditions of the agreement, the MMD Members delivered all their
Membership Interests and IP rights (patents, trademark, trade
secrets) to CBSC and in return CBSC transfers to the MMD Members
(a) seven million five-hundred thousand (7,500,000) newly issued
restricted shares of Common Stock of CBSC and (b) five million
(5,000,000) shares of Common Stock at par value as stock
options.
As part of the agreement, Mr. Bobban Subhadra has been elected
as the Chief Operating Office of the Company and will also serve on
the Board of Directors of CB Scientific.
Marutronics LLC, has the following patent applications which
will be transferred to the Company;
1) Utility Patent-1 Cannabinoid delivery
devices
Summary: A proprietary thermo-responsive cannabinoid
delivery device for controlled release of precise doses of
cannabinoids
2) Utility Patent-2 Cannabinoid transdermal
formulations
Novel epidermal penetrating compounds for enhanced
and sustained neural delivery of cannabinoids
3) Utility Patent-3 Cannabinoid detection unit
Summary: A proprietary device to semi-quantitatively
profile the amount of various cannabinoids in various samples. This
combo unit is based on thin-layer chromatography for detecting
cannabinoid compound.
Dr. Subhadra conducted his doctoral studies in Microbiology and
Immunology at School of Medicine, University of New Mexico. After
graduating he researched on the role of neuroserpin, tissue
plasminogen activator, and thyroid hormone in synaptic plasticity
and Alzheimer's disease in mouse models. He has published
extensively in prestigious journals including Nature, Science, and
Neurochemistry International. With his core expertise in immunology
and biochemistry and with 10+ years of industry R & D
experience, he has developed numerous patented technologies and
products for biochemical, biofuel, and pharmaceutical companies.
More recently, as the Director of R & D at Quorum Innovations,
he developed and commercialized numerous microbiome products.
CB Scientific is very excited on this transaction which would
allow the company to be a leader in developing and marketing
state-of-the-art cannabis or drug delivery devices. Due to some of
the State legislative requirements on medical marijuana, smoking,
eating (edibles) or even vaping marijuana as a medicine is and may
be made illegal. This move by most States especially by the State
of Florida, creates an incredible opportunity to biotech companies
to design and deliver Cannabinoid delivery devices in compliance to
the current and new State medical marijuana regulations. The
Company will focus on the creation of pharmaceutical drugs with
multiple technologies incorporated as a drug delivery system such
as hydrophobic -- a nano-particle surrounded by a hydrophilic
nano-capsule much like liposomal but with improved efficiency for
cellular integration using specifically formulated antigens.
Potential medical applications include treating neuropathic pain,
esophagitis, cognitive and immune enhancement.
About CB Scientific, Inc.
CB Scientific (www.cbscientific.com), through its
subsidiaries, designs, develops and manufactures Life Science
Analytical Tools and Devices, Medical Delivery Systems, laboratory
services, personal analytical kits and devices and CBD hemp oil and
nutraceutical formulations for growers, care takers, dispensaries
and companies worldwide. CB Scientific is continuing to develop new
technologies specifically for cannabis (hemp) analytics. CB
Scientific believes every product sold to patients as "Medical
Quality" should be inspected for health benefits, safety,
consistency, purity, potency and packaged properly for
distribution. CB Scientific has worked with many of the cannabis
industry leaders in the country and have also been featured in
cannabis industry publications including High Times Magazine,
Culture and many trade publications, on-air interviews and panel
discussions across the United States. CB Scientific's focus has
been the education and safety of consumers combined with innovation
to put power into the hands of the patients.
To request further information about CB Scientific, please email
us at info@cbscientific.com, log onto our website
at http://www.cbscientific.com or visit us on
Twitter @cbscientific and Facebook at cbscientificinc.
Forward-Looking Statements
This press release may contain forward-looking statements covered
within the meaning of the Private Securities Litigation Reform Act
of 1995. These forward-looking statements relate to, among other
things, plans and timing for the introduction or enhancement of our
services and products, statements about future market conditions,
supply and demand conditions, and other expectations, intentions
and plans contained in this press release that are not historical
fact and involve risks and uncertainties. Our expectations
regarding future revenues depend upon our ability to develop and
supply products and services that we may not produce today and that
meet defined specifications. When used in this press release, the
words "plan," "expect," "believe," and similar expressions
generally identify forward-looking statements. These statements
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risks and uncertainties, including, but not limited to, changes in
technology and changes in pervasive markets. This release includes
forward-looking statements within the meaning of Section 27A of the
Securities Act of 1933 and Section 27E of the Securities Act of
1934. Statements contained in this release that are not historical
facts may be deemed to be forward-looking statements. Investors are
cautioned that forward-looking statements are inherently uncertain.
Actual performance and results may differ materially from that
projected or suggested herein due to certain risks and
uncertainties including, without limitation, ability to obtain
financing and regulatory and shareholder approval for anticipated
actions.