VANCOUVER, BRITISH COLUMBIA--(Marketwired - May 21, 2014) - Cannabis Technologies Inc. (CSE:CAN) is pleased to announce that it has completed the acquisition of BSI Sciences (see NR dated May 16, 2014) and has commenced trading on the Canadian Stock Exchange under the new symbol "CAN".
The Company will pay a finder's fee with respect to the acquisition of the shares of BSI Sciences. The finder's fee is payable to an individual and complies with the policies of the CSE.
About Cannabis Technologies ("CTI")
CTI is a biopharmaceutical drug discovery and development company uniquely focused on the therapeutic potential of cannabinoids. The company consists of two divisions:
Drug Discovery & Development - CTI is utilizing its proprietary "Cannabinoid Drug Design Platform" to identify new bioactive compounds within the marijuana plant that interact with certain gene responsible for specific diseases. CTI's extensive research and intellectual properties will initially be focused on the development of several new cannabinoid based treatments for glaucoma, cancer & angiogenesis, Inflammation and pain.
Cultivation & Breeding - CTI's botanical research division has begun the research & development into the individual strains and clones that will produce the raw material bases for future pharmaceutical research. To comply with the demands of the Pharmaceutical industry, a phytopharmaceutical feedstock must meet high expectations regarding the minimum and maximum content of a range of compounds. Cultivation techniques and pharmaceutical levels of exacting chemical consistency are critical for all applications to regulatory authorities.
ON BEHALF OF THE BOARD
Craig Schneider, President and CEO
For further information, please visit the company's website at www.cannabis-tech.com.
Forward Looking Statements
This news release may contain forward-looking statements and information based on current expectations. These statements should not be read as guarantees of future performance or results. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from those implied by such statements. Although such statements are based on management's reasonable assumptions, there can be no assurance that such assumptions will prove to be correct. We assume no responsibility to update or revise them to reflect new events or circumstances.
Additionally, there are known and unknown risk factors which could cause Cannabis Technologies actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information contained herein.
All forward-looking information herein is qualified in its entirety by this cautionary statement, and Cannabis Technologies disclaims any obligation to revise or update any such forward-looking information or to publicly announce the result of any revisions to any of the forward-looking information contained herein to reflect future results, events or developments, except as required by law.
These risks and uncertainties include, among others, the possibility that clinical trials will not be successful, or be completed, or confirm earlier clinical trial results, risks associated with obtaining funding from third parties, risks related to the timing and costs of clinical trials and the receipt of regulatory approvals
NEITHER THE CANADIAN SECURITIES EXCHANGE NOR ITS REGULATIONS SERVICES PROVIDER HAVE REVIEWED OR ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.