SOURCE: Cannabis Science, Inc.

Cannabis Science, Inc.

May 09, 2016 08:50 ET

CBIS Gets Set to Break Ground on Its 360,000 sq. ft. Ft. McDermitt Drug Development Project; Chief William Bills of the Fort McDermitt Tribal Allotment Indian Lands Tours Property With Investors/Licensees With 1 Million sq. ft. of Cultivation Licenses

Ft. McDermitt Allotment Allottees Lands, Which Is on the Ft. McDermitt Tribal Reservation, the Project Will Benefit Both Ft. McDermitt Tribe Members and Allotment Allottees

LOS ANGELES, CA--(Marketwired - May 9, 2016) - Cannabis Science, Inc. (OTC PINK: CBIS), a U.S. company specializing in the development of cannabis-based medicines, is getting ready to break ground on its 10 acre (360,000 sq. ft.) Ft. McDermitt Drug Development Project. Chief William Bills of the Fort McDermitt Tribal Allotment Indian Lands tours property with investors/licensees with 1 million sq. ft. of cultivation licenses available for a limited time. To date, 11 acres (396,000 sq. ft.) are signed for, and additionally, 20 acres (720,000 sq. ft.) are spoken for.

Chief William Bills of the Fort McDermitt Tribal Allotment Indian Lands confirmed, "We are moving much faster and stronger than we initially anticipated, and we are excited to break ground on our property with CBIS & RCDU. We believe the University educational component will be a key element that cements our success on this property and our other properties across America. Our international families have stressed a great interest in the combined University education/cultivation/revenue model for their community growth initiatives as well. We are following up to provide them with the same compelling opportunities to grow.

"Our initial signing with Raymond and Roger has been a blessing and a great education for all of us. We are creating a hybrid business model through the University for many to benefit from for years to come on the Ft. McDermitt Allotment Allottees lands, which is on the Ft. McDermitt Tribal Reservation; the Project will benefit both Ft. McDermitt Tribe Members and Allotment Allottees. Our sovereign licenses are formatted just like Nevada/California State licenses providing a comfort zone of legal accountability and responsibility. Our major advantage over any other city is that 'we will have no waiting periods for the license approvals' such as other cities, which could be 90 days or 6 months with 'no certainty' of receipt even after initial investments have been made. Once we approve the land/parcel deal, we approve the license at the same time, so all investments are made with peace of mind. Our protocols and procedures will be strict and coherent; all our licensees will comply accordingly to provide us with uniformity and continuity for ease of tracking and exponential growth.

"Our initial licensing fees ranging from $150,000 to $250,000 levels the playing field compared to a typical Pre-ICO, which is usually $500,000 to $750,000. On top of it, other cities and cannot provide nearly as much cultivation square feet ratio as our 36,000 sq. ft. per acre for each (greenhouse approved) cultivation center. Instead of charging rent or lease payments to the investor/licensee we have embraced a profit sharing model providing a much faster return on capital investments including operating expenses, insurance, and legal compliance."

About RDCU McDermitt

The 40-acre community development project is based on a deal signed by RCDU, AEIG legal group and CBIS with the McDermitt Indian Reservation to develop the land. The focal point of the community development project is the Raymond C. Dabney University, a fully accredited school of Law, Business, and Medicine. The Goal of Raymond C. Dabney University (RCDU) is to "provide financially challenged communities an affordable opportunity to acquire a quality legal education beginning with a structured and regulated program in Law." RCDU will be providing free scholarships and additionally subsidized education packages for the McDermitt Tribe Members of the Community. RCDU and its legal group will work closely with Cannabis Science and the McDermitt Tribe to manage and operate the University/Cultivation/Medical Complex. The intent is to create a self-sustaining community of academia, which allows business opportunities, medical advancement, and legal progress to thrive. With approximately 40 acres to work with it is designed to be a completely vertically integrated operations model providing hundreds of jobs for the community, education, medical, construction, as the list goes on, there will be plenty of jobs for all.

About Cannabis Science, Inc.

Cannabis Science, Inc., takes advantage of its unique understanding of metabolic processes to provide novel treatment approaches to a number of 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.

Forward-Looking Statements

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.

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