IRVINE, CA--(Marketwired - Dec 21, 2016) - Cannabis Science, Inc. (OTC PINK: CBIS), a U.S. company specializing in the development of cannabinoid-based medications, has started work on its second 33,000 sq. ft. pilot cannabinoid drug development and manufacturing facility in Douglas County, Nevada.
"We have every intention of making 2017 the breakout year for our great company. To fast track our second pilot greenhouse and property build program, we ordered prefabricated and regular greenhouses. This second pilot property will house some of our grow operations and research and development activity. Our target is to begin growing a variety of prime strains in the first quarter of 2017," said CEO Raymond C. Dabney. "We need all the drug development capacity we can get, because we intend to ramp up our operations to meet the increased demand for cannabinoid medications across the country. This market is coming into full-bloom, and 2017 is the year we will be positioned to capitalize on this tremendous opportunity."
The Douglas County, Nevada multi-phased project is the second pilot site and is currently in full buildout of greenhouses, water-well development, extraction points, and manufacturing. The grow operations at this site will support the extraction of cannabinoids for the development of key proprietary formulations. The site management team is in place, and the labor crew is being hired locally to create jobs and economic benefits to the community. This multi-phased facility is officially under construction.
"The first quarter of 2017 will be an exciting time for more new product releases and much larger distribution channels. We will utilize various medication delivery methods (such as pills, creams, extracts, inhalers, tinctures, and balms) based on the ailment and we will release our cannabinoid-based medications across the country. I can't emphasis enough what an exciting and busy year 2017 looks to be," stated CBIS CEO Raymond C. Dabney.
Cannabis Science is mapping out strategic demographic analyses across the country for full circle operations in each area: Grow, Lab Extraction, Manufacturing and Dispensaries. Having R&D and full circle operations and facilities in one site will allow Cannabis Science to bring its product to market more rapidly than before, while trimming costs for acquisition, extraction, and medication manufacturing. While the company will place high emphasis on producing its existing product lines to meet the demand of current distributors, Cannabis Science will continue and expand the work on developing new product lines, which will allow them to access new patients across the country.
With over 3,500 acres in its portfolio in California and Nevada and much more under negotiations for future drug development projects, the company has a unique opportunity to scale out this model very quickly across the Western United States. Once this pilot buildout project in Nevada is complete and functional, the company will work on expanding its operations across the country.
About Cannabis Science, Inc.
Cannabis Science, Inc., takes advantage of its unique understanding of metabolic processes to provide novel treatment approaches to several 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.