SOURCE: Cannabis Therapy Corp.

Cannabis Therapy Corp.

March 24, 2014 12:29 ET

Cannabis Therapy Corp. Commences Trading as CTCO and Confirms Appointment of CEO

NEW YORK, NY--(Marketwired - Mar 24, 2014) - Cannabis Therapy Corp. (OTCQB: CTCO) (formerly OTCQB: FWSI) (the "Company") today announced it has received a listing for quotation with immediate effect on OTC Markets under the symbol "CTCO" as assigned by the Financial Industry Regulatory Authority, Inc. (FINRA). The news comes as part of the Company's previously announced 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.

In related news, the Company is pleased to confirm the appointment of Soren Mogelsvang as Chief Executive Officer. Dr. Mogelsvang is a biotech executive and entrepreneur with more than 15 years of experience in research and development and laboratory operations. He is experienced in strategic positioning, value creation, IP development and preclinical development of peptide therapeutics. He is the co-founder of two biotech companies, Caerus Discovery and Serpin Pharma Inc., He founded Serpin Pharma Inc. in 2010 and is presently employed as Serpin Pharma Inc.'s Vice President of Research and Development. He co-founded Caerus Discovery in 2010 and was employed by Caerus Discovery until 2012 as a Vice President of Research and Development. From 2008 until 2010 he worked at ATCC where he managed the Cell Biology Department. From 2006 until 2008 he was an instructor and faculty member at the University of Colorado School of Medicine and from 2004 through 2005 he worked as the Director of Laboratory and Products at Affinity BioRegents. From 2001 until 2004 he was a Postdoctoral Fellow at the University Of Colorado School Of Medicine and from 2000 until 2001 worked as a research scientist for Maltagen Forschung. Dr. Mogelsvang received a Ph.D. in Cell Biology from the University of Cambridge (England) in 2000, an M.S. in Molecular Biology from the University of Copenhagen (Denmark) in 1996 and a B.Sc. in Plant Biology from the University of Copenhagen (Denmark) in 1993. Dr. Mogelsvang has filed numerous patent applications and has had several of his works published.

Additional details of the Company's business, finances, appointments and agreements can be found as part of the Company's continuous public disclosure as a reporting issuer with the Securities and Exchange Commission ("SEC") available at www.sec.gov. For more information please visit www.cannabistherapy.com.

About Cannabis Therapy Corp. (OTCQB: CTCO)
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.

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