COLORADO SPRINGS, Colo.,
March 12, 2014 /PRNewswire/
-- (CBIS) Cannabis Science, Inc., a U.S. Company specializing
in cannabis formulation-based drug development and related
consulting, announces that the investors acquiring $500,000 of the recent private placement included
Weedmaps Media Inc. (Weedmaps), the world's largest online guide
for medical cannabis patients, and an Amsterdam-based investment company. The full
$1,000,000 private placement has been
paid into the Company bank account.
"We view this investment and collaboration as a great vote of
confidence by those who know our industry best, and this is a major
step forward for our company, giving us the kind of financial,
market, and industry support that we see as key to the growth model
of Cannabis Science," said Dorothy H.
Bray, Ph.D., Director & CEO of Cannabis Science,
Inc.
Justin Hartfield, Founder and CEO
of Weedmaps, commented on Weedmaps' investment in and joint venture
opportunities with Cannabis Science: "Weedmaps is very
pleased to make an investment in Cannabis Science and to develop
joint ventures with them in the US and Europe. We believe that we can use our
market leadership to help them better communicate with the patient
community, and by working together we can accelerate product
development. We view this project, combining an investment with
joint ventures, as a template for similar efforts that we may
explore with other companies in the cannabis industries."
Mr. Hartfield continued, "Although bio-tech research companies
are inherently speculative, we believe that Cannabis Science's
executive leadership makes it unique in its field. Based on Dr.
Melamede's pioneering research on the role of cannabinoids in human
health, and guided by Dr. Bray's extensive background in bringing
new products to market, Weedmaps views Cannabis Science as a
logical partner globally."
Last month, Cannabis Science announced that an initial agreement
had been signed with key players in Spain to expand into the Spanish market to
conduct cannabis research and other operations. And last
year, Cannabis Science made its European market intentions clear
with the opening of subsidiaries and an office in The Netherlands. Weedmaps is also
increasingly active in the European markets, including Spain; the relationship with Weedmaps further
supports Cannabis Science's international operations.
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 and neurological conditions.
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.
Cannabis Science, Inc.
Dr. Dorothy Bray, CEO &
Director
www.cannabisscience.com
dorothy.bray@cannabisscience.com
info@cannabisscience.com
Tel: 1.888.777.0658
Investment Inquiries:
Robert Kane, CFO & Director
robert.kane@cannabisscience.com
Tel: 1.561.420.4824
SOURCE Cannabis Science, Inc.