IO NewsWire

August 22, 2011 14:30 ET

Cannabis Science Signs Major Distribution Agreement

NOTE TO EDITORS: The Following Is an Investment Opinion Being Issued by the IO NewsWire

NEW YORK, NY--(Marketwire - Aug 22, 2011) - Cannabis Science, Inc. (OTCBB: CBIS) announced today that they have signed an exclusive distribution agreement to distribute Prescription Vending Machines (PVM) worldwide.

Medical marijuana in the US is estimated to reach $1.9 billion in sales this year; this agreement between Cannabis Science and PVM should begin standardizing the dispensing of marijuana for medical use and increase its legitimacy in the pharmaceutical industry and increasing sales.

The two companies will share jointly in all proceeds on the placement of these specialized dispensing machines and specific consulting services provided by PVM. Cannabis Science will solely derive additional revenues by licensing formulations and products to existing and new PVM clinics. PVM generated $3.6 million in revenues over the last 4 quarters.

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Other active stocks ConAgra Foods, Inc (NYSE: CAG), Harley-Davidson, Inc (NYSE: HOG) and Biogen Idec, Inc (NASDAQ: BIIB)

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