Twenty Acre Indoor/Outdoor Cultivation Facility in Northern California in the Final Stages of Escrow Awaiting Transfer of Ownership to Cannabis Science, Inc.
CBIS Prepares to Launch Indoor/Outdoor Cultivation for Genetics Targeting Critical Ailments and Patent Pending Drug Development Projects
IRVINE, CA--(Marketwired - Aug 1, 2016) - Cannabis Science, Inc. (OTC PINK: CBIS), a U.S. company specializing in the development of cannabis-based medicines, today announced they are in the final stages of escrow to transfer the 20-acre Northern California cultivation property into its name and commence indoor/outdoor cultivation and production on the land. This is another separate property the Company has secured for cultivation, production, and extractions for its proprietary formulations.
The Northern California property is ready for cultivation and production: the 20-acre property is retro-fitted for a large outdoor grow site and has a greenhouse on the premises for multiple indoor cultivation cycles per year. As a part of a re-negotiated deal, Cannabis Science will retain 100% ownership of one of the 20-acre North California cultivation properties. The terms of the deal express transfer of 100% ownership of the 20-acre land parcel, the living quarters, and fully functional greenhouse to the Company.
Strategically located in the Northern green rush area of California, the Company is excited to ramp up operations again on the property. Previously its partner Apothecary Genetics was cultivating and in production indoors & outdoors on the land for its CBIS product partnership.
The growing suite of cultivation centers expanding across the legal United States offer a huge vertical integration opportunity for Cannabis Science's other property deal, which will develop and research cannabis-based drugs. These new centers will allow the company to control the quality of the product from seed to end product. It will also expedite testing and the company's ability to develop new products by ensuring consistent levels of cannabis supply.
"We are thrilled to have another opportunity to grow our business and produce our formulations much faster and in higher volumes. Of course, coupled with a new Southern California laboratory this allows us greater control of our operations and proprietary formulations," said Director, President, Co-Founder & CEO, Raymond C. Dabney. "We will be able to bring new concepts from seed to consumers' hands much faster now, because we will be directly expanding our cannabis supply. This means nearly instant revenue growth for our company!"
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.