Cannabis Science CEO Plans to Expand Share Gifts to ALL Shareholders up to March 31, 2016, Thus Including ALL Old & New Shareholders up to the New Cutoff Date; Issues Preliminary Instructions for Shareholders of Record Dates to Receive Gifted Shares
COLORADO SPRINGS, CO--(Marketwired - Mar 11, 2016) - Cannabis Science, Inc. (OTC PINK: CBIS), a U.S. company specializing in the development of cannabis-based medicines, today released its CEO's plans to expand his share gift to include ALL old & new shareholders up to March 31, 2016, making this a new cutoff or qualification date. As preliminary protocol, to receive these gifted shares, shareholders will need to provide proof of ownership with respect to the relevant cutoff dates of December 31, 2010, October 9, 2015, and March 31, 2016, respectively.
Company counsel is determining the qualifying criteria for both electronic and physical certificate holders. For example, the evidence of ownership may include brokerage statements with timestamps and share balances that can be checked against Company records. These criteria will likely include proof of when a stock certificate was received, a copy of any stock power or certificate itself, as well as evidence of any assignments and conversions.
Once processing requirements are finalized and announced, shareholders will have 90 days to return the requested documents to Cannabis Science. The Company is researching the most efficient documentation procedure for formal verification and future share gifting, including the methods of receiving shareholder information, such as by email, direct mail, and/or facsimile. The Company is also considering whether this information should be provided directly to the Company or to its transfer agent.
"The March 31, 2016 date is designed to encompass all shareholders, old & new, as well as to distinguish those who have been loyal, patient, and persistent with us over the years, as they deserve special recognition. Concurrently, we are laser focused on the execution of our operations that involve so many tremendous opportunities," said Raymond C. Dabney, CBIS President & CEO, Co-Founder. Mr. Dabney continued, "I am so happy to personally 'reward' our investors, so to speak, by gifting them my own shares. As we enter the next phase of the Company's development, the timing of this shareholder 'thank you' is perfect."
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.