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SOURCE Cannabis Science, Inc.
COLORADO SPRINGS, Colo., Feb. 20, 2014 /PRNewswire/ -- (OTC: CBIS) Cannabis Science, Inc., a U.S. Company specializing in cannabis-based pharmaceutical development and related consulting operations, has agreed to finance $1 million to satisfy its current capital requirements. Cannabis Science is raising the $1 million through private placement. The pricing is set at $0.25 per share for 144 restricted shares coupled with a one-year warrant for $0.50 per share to comprise a complete unit offering.
The financing is being headed by affiliates and associates followed by an assorted group of individuals that have shown a strong interest in moving Cannabis Science's projects forward immediately. Initial commitments exceed $100,000.00 and the Company has received the first $50,000.00. The intended projects include fast tracking cancer initiatives and its observational studies for the existing CBN patent the Company filed last year. Information about that patent can be found here:
"The market has shown an overwhelming interest in our story. This comes at the perfect time as our projects are coming to a point of maturity that will allow us to take the next important steps forward. These steps should create revenues that will support Cannabis Science going forward on an ongoing basis," stated Robert Kane, CFO of Cannabis Science.
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 and neurological conditions.
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.
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