SOURCE: Cannabis Therapy Corp.

Cannabis Therapy Corp.

March 18, 2014 09:00 ET

Cannabis Therapy Corp. Announces Restructuring and Entry Into New Line of Business

NEW YORK, NY--(Marketwired - Mar 18, 2014) - Cannabis Therapy Corp. (formerly known as Frac Water Systems, Inc.) (OTCQB: FWSI) (the "Company") has commenced a corporate restructuring in connection with its entry into the business of manufacturing and marketing pharmaceutical level products containing phytocannabinoids, an abundant and pharmaceutically active component of cannabis, for the treatment of various conditions and diseases.

Pursuant to the restructuring, the Company has assembled a management team with extensive experience as entrepreneurs and executives in the pharmaceutical and biotechnology industries. The Company also issued 25,055,998 shares of its common stock to its new management group, issued 1,944,000 stock options to one of its new directors, and repurchased 19,666,667 shares from its former Chief Executive Officer.

As part of the restructuring process and to reflect its new business, the Company has changed its name to Cannabis Therapy Corp. and has filed to have the name change recognized by FINRA and to change its trading symbol. The Company has also authorized a 1.5:1 forward stock split in the form of a dividend, which it expects to effect within the next three weeks.

The Company's goal is to develop and market safe, phytocannabinoid-based medicinal products and to apply rigorous manufacturing and quality control standards to become a global leader in the research, development, manufacturing, testing and marketing of cannabinoid ingredients and therapies. For more information plan on visiting which will be available soon.

About Cannabis Therapy Corp.
Cannabis Therapy Corp. aims to engage in the business of manufacturing and marketing pharmaceutical grade products containing phytocannabinoids for the development of therapeutic treatments targeting a variety of conditions and diseases and to provide consistent high quality laboratory based purification and testing services.

Safe Harbor Statement
Any statements contained in this press release that do not describe historical facts may constitute forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. Any forward-looking statements contained herein are based on current expectations, but are subject to a number of risks and uncertainties. The factors that could cause actual future results to differ materially from current expectations include, but are not limited to, risks and uncertainties relating to the availability of additional funding; and the Company's business, product development, marketing and distribution plans and strategies. These and other factors are identified and described in more detail in the Company's filings with the SEC, including, the Company's current reports on Form 8-K. The Company does not undertake to update these forward-looking statements.

Contact Information