BEVERLY HILLS, CA--(Marketwired - Feb 17, 2017) - Crown Baus Capital Corp. (OTC PINK: CBCA) announces the Company acquires 100-acre investment participation in the Cannabis Science, Inc. (OTC PINK: CBIS) Property and Drug Development Projects spread across California and Nevada. The agreement includes cultivation, laboratory, and manufacturing capabilities. CBIS will receive 10 million common shares of CBCA as payment in kind. Mr. Dabney is the President, CEO, and Co-Founder of both CBCA and CBIS.
Under the terms of the agreement between CBCA and CBIS, CBCA has acquired the rights to 100-acre property and drug development investments spread across California and Nevada with CBIS. CBCA will finance and begin the buildout of its pilot immediately, approximately 33,000 sq. ft. in the Cannabis Science, Inc. (CBIS) Property and Drug Development Project in Douglas County, Nevada. CBCA reserves the right to invest or bring in additional investment partners for the buildout of the additional acres. CBCA is a global acquisition-based conglomerate targeting opportunities in Drug Development, High-tech Incubation, Entertainment & Media, Education, and Financial Services.
CBCA's President, CEO, and Co-Founder, Mr. Raymond C. Dabney, stated, "I am excited to announce our agreement with CBIS. That's 66,000 sq. ft. we will be building out with CBIS & CBCA over this spring and summer. We are certainly looking to bring that number well over 100,000 sq. ft. over the coming months. In line with CBCA's growth strategy in one of our core areas, we see tremendous value in our Property and Drug Development Projects. Each one-acre parcel provides investors with 33,000 square feet of space to build fully-licensed and state compliant medical cannabis and/or industrial hemp production facilities."
This agreement more closely aligns the interests of CBCA and CBIS in Drug Development and will enable each company to focus on its particular area of expertise. "I expect the shareholders of CBCA and CBIS to see increased value as a direct result of this agreement. Particularly, this relationship will allow CBIS to focus on drug development and will allow CBCA to focus on finance, as well as on future acquisition deals," stated Mr. Dabney.
CBCA intends to utilize its investment management experience, working with CBIS, to finance some of the CBIS projects in California and Nevada beginning with the Douglas County, Nevada Property and Drug Development Project. This project will serve as a model for similar projects that can be developed in a number of states throughout the U.S. In addition to creating large-scale 250,000+ sq. ft. manufacturing and cultivation opportunities for CBCA's investment partners, each project is expected to create a significant number of jobs in the construction, farming, retail, and education industries. CBIS currently has access to over 10,000,000 square feet of property that can be used for fully-licensed large-scale drug development grow and production operations.
About Crown Baus Capital Corp.
Crown Baus Capital Corp. is a global acquisition-based conglomerate targeting five primary industries: High-Tech Incubation, Drug Development, Entertainment & Media, Education, and Financial Services. The Company specializes in the vertical integration of industrial, commercial, and retail profit centers, along with partnerships and start-ups, to create synergistic savings and increased value to our shareholders.
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