IRVINE, CA--(Marketwired - Nov 9, 2016) - Cannabis Science, Inc. (OTC PINK: CBIS), a U.S. company specializing in the development of cannabis-based medicines, is excited to announce that Proposition 64 has passed in its home State of California, legalizing recreational marijuana. As well, Cannabis Science would like to congratulate our 45th President, Mr. Donald J. Trump on his victory last night; God Bless America.
TIME reported the MMJ vote as it happened, with California, Massachusetts and Nevada approving recreational marijuana, while Florida, North Dakota, Arkansas, and Montana passed medical marijuana measures. Arizona voters rejected an adult use measure, and Maine's results are still remains pending.
"It's changed in the minds of these voters from being like cocaine to being like beer," said University of Southern California political scientist John Matsusaka.
They are also pointing to the potential for hundreds of millions in additional state tax revenue from pot sales and billions in economic activity. Investors new to the sector said they are eager for a piece of a recreational marijuana market that by some estimates will reach $50 billion over the next decade. Civil rights groups have also embraced legalization, arguing that current marijuana laws have led to a disproportionate number of minorities being incarcerated for minor drug offenses.
"We all know the opportunity for our company has just got seriously turned up! We are now in a nationwide position to help pave the way for legal cannabis-based drugs to be used by self-medicating and doctor prescribed patients across the Country, without all the negative stigmas attached. This is tremendous for us all right now and we are on the move!" stated Cannabis Science President & CEO, Mr. Raymond C. Dabney.
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.