Cannabis Science Positions Itself to Issue Dividend Payouts to Its Shareholders
COLORADO SPRINGS, CO--(Marketwired - Oct 28, 2015) - Cannabis Science, Inc. (OTC PINK: CBIS), a U.S. company specializing in the development of cannabis-based medicines, is pleased to announce it will begin its dividend payout to its shareholders of record, as of December 31, 2010 and October 9 2015 respectively, triggering what the Company considers a "breakthrough drug development growth plan".
The Company will announce on Friday, October 30, 2015, the actual process for its shareholders to receive their dividend shares under the following two conditions:
(1) To issue a new dividend to holders of our current common stock so they received 1 share of Class A common stock and 1 non-transferable share purchase warrant for each 100 shares of our current class of common stock that they previously owned as of the record date, October 9, 2015. Each warrant will grant the holder to purchase an additional share of Class A common stock at a price of $1.00 per share. The warrant will be exercisable for 90 days from the date that the Class A common stock receives a trading symbol (the "New Dividend").
(2) To issue the previously announced and approved dividend that will issue 1 share of Class A common stock and 1 non-transferable share purchase warrant for each 10 shares of the Company's current common stock that they previously owned as of the record date of December 31, 2010. Each warrant will grant the holder to purchase an additional share of Class A common stock at a price of $1.00 per share. The warrant will be exercisable for 90 days from the date that the Class A common stock receives a trading symbol (the "Previous Dividend").
"It's exciting to see the outpour of support we have had thus far as we have progressed through the initial phases of this very important growth cycle. We appreciate the patience as we have been wading through an overwhelming amount of paperwork and bureaucratic processes in order to accomplish the goals we have set out with. On Friday, we will issue a statement to our shareholders to educate them on the process of receiving their dividend shares. We have some exciting new products coming out, and we will be announcing them after the dividend payout process is underway.
I recently returned from very successful trips to New York City, Washington D.C., and California. Some of our existing acquisitions are being completed and we expect to be announcing them in more detail soon.
With mounting interest in our financing, we have had our nose to the grindstone to complete additional presentation packages and paperwork. We recently welcomed several new top-shelf team members who will head up new drug development programs in addition to working to advance our current programs.
These developments help pave the way for the company to begin fulfilling its 'breakthrough drug development growth plan' and proposed NASDAQ up listing. It has been challenging for sure, but it makes us appreciate the success that much more," stated Mr. Raymond C. Dabney, President & CEO, Co-Founder, Cannabis Science, Inc.
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.
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. 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.