IRVINE, CA--(Marketwired - Oct 31, 2016) - Cannabis Science, Inc. (OTC PINK: CBIS), a U.S. company specializing in the development of cannabis-based medicines, is preparing for Prop 64 and a few more states to open as elections approach, bringing a new wave of potential industry changing legislation. The company has laid the foundation for growth with its significant large land development deals to accomplish the goal of increasing its pharmaceutical grade drug output.
Some of the more noteworthy transactions are with unique strategic partners who already have DEA and Department of Agriculture licenses. This will help ensure a quick and risk-averse path to production and thus the ability to increase its drug output for those patients looking for pharmaceutical grade cannabinoid formulations. This upcoming vote is of the utmost importance to any company serving the cannabis industry, and Cannabis Science is continuing to position itself to serve these new markets pending positive voting results.
"We found ourselves at the forefront of a very special opportunity. In preparation, we have been significantly expanding our land portfolio in California and additional states for drug development in order to produce more products and meet demand as it increases. It isn't often in economics when product demand is on the verge of such high growth potential and the anticipated supply is expected to decrease greatly," said, President, CEO, & Co-Founder Raymond C. Dabney, "We are well on our way to increasing our cannabinoid production and getting quality products to market to help meet this demand for all self-medicating patients. We are determined, and thrilled to have this opportunity, to meet these special market needs."
9 More States looking to Vote Yes to Legalizing or Medicinal Usage.
Voters in five states -- California, Arizona, Massachusetts, Maine and Nevada -- will decide whether to fully legalize and regulate marijuana. They would join Washington, Colorado, Alaska and Oregon, states that already allow using marijuana for recreational purposes.
Voters in another four states -- Florida, Montana, North Dakota and Arkansas -- will decide whether to approve marijuana for medical use. They'd join the list of 25 states and the District of Columbia that have approved medical marijuana.
As previously stated, articles have been released stating that cannabis sales in Colorado are slated to exceed alcohol sales only a couple of years' post-legislation. Cannabis Science is headquartered in California, representing one of the largest cannabis markets in the USA. Just how big would legalizing marijuana be in California? Well, it's the most populous state in the US and has the world's sixth-largest economy with a gross domestic product of about $2.5 trillion. In California's much larger market, this type of consumer support in the cannabis industry has huge potential to drive Cannabis Science's bottom line.
"We feel we are ready to meet the demands of more patients than ever before, and the timing couldn't be better, with the tremendous support for Proposition 64 and other pro-cannabis initiatives across the nation. We are pushing very hard and very fast to become one of the largest land procurement companies for medical cannabis drug development. We are rapidly and successfully expanding our national land targets in California, Nevada, Colorado, Washington and heading East next. Additionally, we are negotiating more deals with distribution networks and new dispensaries across the state of California and setting up for Nevada and a few more states to reach many more patients in need of cannabinoid formulations. The company's most recent new products, including a pain relief product, an immune system bolster, and a sleep aid, are very accessible, even to first-time legal self-medicating patients. Presently Cannabis Science is in negotiation for a land plot that is currently in production and will give us a large amount of inventory for drug development and future medicinal products," concludes, Mr. Dabney.
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.
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.