Cannabis Science Expands Into Canadian Market With Wholly-Owned Subsidiary Cannabis Science Canada Inc., Commences Negotiations for Canadian Land, Licenses, and Expansion Capital
IRVINE, CA, March 25, 2019 (GLOBE NEWSWIRE) --
Cannabis Science, Inc. (OTC: CBIS), a U.S. company specializing in the development of cannabinoid-based medicines, is pleased to announce the Company has expanded into the Canadian market with the formation of Cannabis Science Canada, Inc. Cannabis Science Canada Inc. is a wholly-owned subsidiary of Cannabis Science Inc., and has already begun negotiations for Canadian land, licenses, and expansion capital.
“Establishing a presence in Canada is strategically important for Cannabis Science! We can all see the immediate opportunity within its burgeoning cannabis medical industry, and its financial foray; the timing could not be better for us!” stated Mr. Raymond C. Dabney, Cannabis Science’s President, CEO, and Co-founder. “We currently have a number of very important research and drug-development initiatives underway in the U.S., Europe, South America, and in Sub-Saharan Africa. As we expand into Canada, the Company can leverage these opportunities in order to rapidly grow our business model in Canada and begin releasing our exciting product lines and our successful critical drug development programs for Ministry of Health approvals in Canada.”
Cannabis Science has already held initial discussions with Canadian government and private-sector organizations to explore potential opportunities throughout Canada. As one of its initial steps, Cannabis Science has begun negotiating to acquire land and licenses through existing license holders for the cultivation of medical hemp and cannabis in Canada primarily to support the Company’s research. These types of acquisitions will enable the company to fast track its product releases and drug-development programs in Canada.
“I expect Canada to be an important market for Cannabis Science,” added Mr. Dabney. “In addition to a potential market to sell our products, we expect to conduct some of our research and drug-development activities in Canada fairly quickly. Additionally, as Canadians become more familiar with the Cannabis Science story, we hope to create opportunities for the Company to access Canada’s capital markets for investments in Cannabis Science Canada, as well as Cannabis Science.”
The Company will also explore the opportunity to export medical cannabis into Canada from various locations worldwide. Cannabis Science and its collaborators have applied to cultivate cannabis in Southern Africa and expect to secure approval in the coming weeks. Once approval has been granted, Cannabis Science will discuss potential contracts with authorized Canadian government and private sector importers. “We have come to understand that there may have become a shortage of regulated inventory in Canada at this time,” added Mr. Dabney. “We believe that our approval to cultivate and export medical cannabis from Southern Africa is likely, and the opportunity to supply the Canadian market is significant.”
Fortunately, Cannabis Science can apply its previous successful clinical research to date. CBIS and its collaborators have published two peer-reviewed research papers in the cancer research journal, Frontiers in Oncology:
Nanoparticle Drones to Target Lung Cancer with Radiosensitizers and Cannabinoids:
Enhancing the Therapeutic Efficacy of Cancer Treatment with Cannabinoids:
To help accomplish the Company’s primary objective, CBIS recently launched the Cannabis Science Global Consortium as a framework and platform to cooperate and collaborate with stakeholders worldwide. The Cannabis Science Global Consortium links universities, foundations, corporations, and individuals to share research, ideas, and other relevant information, as well as to implement a cutting-edge research program to develop medicines and delivery mechanisms from bench-to-bedside.
In South Africa, Cannabis Science announced an exclusive partnership agreement with Elpasso Farms last year. Elpasso Farms is considered one of the most successful farms in South Africa.
Under the terms of the agreement, Cannabis Science and Elpasso Farms are collaborating to implement a phytomedicines initiative in South Africa. Specifically, the parties intend to establish research, development, cultivation, testing, manufacturing, and production facilities on Elpasso’s 1,000-acre site in Cullinan, South Africa. Additionally, in support of these activities, the Company and Elpasso Farms intend to establish the Pan-African Agriculture and Commerce University (PAACU). PAACU will specialize in agriculture, medicine, law, and business programs, and will offer a variety of certificate courses and conduct formal research programs using a variety of cannabinoids from associated indigenous plants. PAACU will be responsible for seed incubation, growing, and cultivating various indigenous plants, that will be overseen by Cannabis Science.
“Our partnership with Elpasso Farms is breaking new ground for Cannabis Science and work has begun,” stated Mr. Dabney. “While we currently have a sponsored research program with one of the leading academic and research institutions in South Africa, this agreement with Elpasso Farms effectively establishes Cannabis Science’s operations in South Africa. As part of our broader African Initiative, this deal provides our company with an operational base in Southern Africa. We have already begun investing in improvements to Elpasso’s existing facilities and developing operational policies, procedures, and guidelines, in accordance with South African law.”
Elpasso Farms is a well-established and thriving farm in South Africa. The 1,000-acre site is located in Cullinan, a small town approximately 30 kilometers east of Pretoria. The CEO of Elpasso Farms, Dr. Chitsunge, is one of South Africa’s most successful female farmers and an internationally acclaimed expert in agribusiness. Dr. Chitsunge is a facilitator of the Nigeria-South Africa Group on agriculture, and a global humanitarian campaigner. She belongs to various local and international bodies, including the Commonwealth Smart Partnership, Clinton Global Initiative, and African Heritage Society. Dr. Chitsunge currently serves as the Pan-African Parliament’s Food Security Ambassador. The Pan-African Parliament is the legislative body of the African Union. General information on the Pan-African Parliament and the African Union can be viewed at https://au.int/en/organs/papand https://au.int/.
Cannabis Science intends to create a vertically integrated, international organization, through investing in the organic growth and development of the Company’s operational capabilities, as well as through strategic acquisitions. Cannabis Science aims to control the development of its medicines from farm-to-bedside, and firmly establish the Company as a leader and recognized innovator in the market for cannabinoid-based medicines.
Cannabis Science’s primary objective is to research and develop U.S. Food and Drug Administration (FDA)-approved, cannabinoid-based medicine to fight a number of targeted critical ailments, including various Cancers, Neurological Conditions, Post Traumatic Stress Disorder (PTSD), Sleep Deprivation, Chronic Pain, HIV/AIDS, Autism, Parkinson’s Disease, Epilepsy, Chronic Obstructive Pulmonary Disease (COPD), and others. CBIS and its collaborators are well underway on a number of research projects targeting Lung Cancer, Pancreatic Cancer, Chronic Pelvic Pain, and Oro-bucco-lingual Dyskinesias.
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 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 is detailed from time to time in the company's reports filed with the Securities and Exchange Commission.