IRVINE, CA, April 10, 2018 (GLOBE NEWSWIRE) -- Cannabis Science, Inc. (OTC: CBIS), a U.S. company specializing in the development of cannabinoid-based medicines, is pleased to issue a 2018 First Quarter Guidance Report and announces court date set for April 20, 2018 in the Company’s lawsuit against San Joaquin County, California. Cannabis Science looks forward to a favorable resolution of its lawsuit, and to the full implementation of the Company’s revenue growth plan through additional acquisitions, as well as through the development of new wholesale and retail sales channels on route to become a leading educational, medical & industrial cannabinoid producer.
“Our Company has taken many important steps during the first quarter of this year. I believe we are on the right path in terms of continuing to strengthen our brand, developing new revenue streams, investing in the research and development of cannabinoid-based medicines, acquiring manufacturing and distribution capabilities, and maximizing value for our patients, shareholders, and stakeholders,” stated Mr. Raymond C. Dabney, Cannabis Science’s President, Chief Executive Officer (CEO), and Co-Founder. “Additionally, we are in the process of raising new capital to continue to fuel our growth strategy. All of these steps are intended to strengthen our Company and grow our revenues and profits.”
Cannabis Science’s major activities during the first quarter of 2018 included:
1. San Juaquin County Lawsuit Update – Depositions in the case begin this week, including the deposition of Captain Jerry Alejandre of the San Joaquin County Sheriff’s Office scheduled for April 11th and the deposition of Mr. Tim Pelican, San Joaquin County’s Agricultural Commissioner, scheduled for April 12th. Cannabis Science announces that a court date has been set for April 20th, 2018 (4/20), for the Company’s lawsuit against San Joaquin County. Cannabis Science, along with plaintiffs including American States University, HRM Farms, and Free Spirit Organics Native American Corporation, among others, is seeking full compensation for the wrongfully-seized hemp crop that was being cultivated for research and medicinal purposes, as well as a court order that the plaintiffs’ legal industrial hemp research operations be allowed to resume. The plaintiffs’ lawsuit was filed in the U.S. District Court for the Eastern District of California.
2. Cannabis Science’s Economic Development Initiative Update – Cannabis Science’s Economic Development Initiative is well underway, and the Company previously announced its first major project with Free Spirit Organics Native American Corporation (FSO NAC), HRM Farms, and the Company’s University partners for a comprehensive educational, economic, and property development program. With the Universities at the helm, FSO NAC, HRM Farms, Cannabis Science, and its University partners are poised to become among the country's leading educational cannabinoid producers for specific demographic legal, medical & specific trade education creating a vibrant economic growth program for any City, Country or State. The flagship educational partner, Raymond C. Dabney University (RCDU) leads a consortium of Universities, including American States University (ASU); these and other University partners and associates will provide educational packages for each community in Agriculture, Law, Business, Healthcare, and 37 other trade industries, as well as entrepreneurial job creation programs.
The main function of the University Partnerships is the responsibility and complete oversight of the Company’s Economic Development Initiative. A primary goal of RCDU is to provide financially challenged communities an affordable opportunity to acquire a quality education beginning with a structured and regulated program in a number of diverse industries while placing an immediate focus on job creation for a very large number of industries. As an intricate part of each FSO NAC land package deal, the implementing partners expect to provide full scholarships and additionally-subsidized education packages to members of the Native American community and any other challenged individuals with the desire to grow with the initiative. The Cannabis Science Economic Development Plan, in cooperation with FSO NAC, includes a number of the following customized for each community:
a. Academic and vocational training covering each applied industry;
b. Development of healthcare infrastructure, including hospitals and health centers;
c. Pharmaceutical development;
d. Creation of a sustainable, food security system that is based on sound agricultural practices that produce sufficient food for consumption and that are designed to reduce poverty and allow for real farm-to-table programs;
e. Development of water management systems;
f. Development of waste management systems that reduce the prevalence of critical risk factors for infectious diseases;
g. Investment in communications infrastructure, to include satellite, Internet, mechanical device development, and cellphone infrastructure;
h. Support for policy, regulatory, and jurisdictional environments, as they pertain to public healthcare, agriculture, education; and
i. Job creation and most importantly – on the job training.
Because of the initial success of Cannabis Science’s Economic Development Initiative with FSO NAC, the Company is currently in discussions with a number of large Native American Tribes, Universities, and private-sector organizations who have expressed an interest in launching Cannabis Science’s Economic Development Initiative in several states, including California, Nevada, Michigan, and New York.
3. Preparation of Cannabis Science Pharmacies for Grand Opening – Cannabis Science is finalizing the buildout and upgrades to the first two CBIS Pharmacies in California, and the first Pharmacy is scheduled to open on April 20th. Throughout the buildout process, the team has successfully responded to a number of changes to city codes and licensing regulations. “We are excited to open these innovative and beautiful new Pharmacies in California,” stated Dr. Allen Herman, Cannabis Science’s Chief Medical Officer (CMO). “This has been a major undertaking with the renovations of our two initial California pharmacy locations, and our project management and construction teams have met the challenge. These first pharmacies will serve as the foundation and blueprint for the acquisition and opening of new CBIS Pharmacies throughout California and the U.S.”
The launching of Cannabis Science’s Pharmacies is an important part of the Company’s overall drug-development strategy. These Pharmacies will provide Cannabis Science with an important retail sales channel and will enable the Company to interact directly with those who will benefit from its medicines – Cannabis Science’s patients.
The Cannabis Science Pharmacies will showcase the Company’s brand of high-quality cannabinoid and cannabis-based products and accessories for patients, doctors, and the consuming public. These products will range from pills, creams, extracts, sprays, tinctures, edibles, balms, patches, oils, raw products, and merchandise. The Pharmacies will also showcase other brands as well, for patient continuity and familiarity. Due to the Company’s scheduled court date in San Joaquin County on April 20th, Cannabis Science is currently exploring options to open its first Pharmacy by April 20th.
4. Planning for Cannabis Science’s Medical Centers – The Company is developing plans to establish Cannabis Science Medical Centers and has identified several opportunities to acquire buildings in Los Angeles area for its first CBIS Medical Center. The Cannabis Science Medical Centers will include full laboratory facilities, patient intake, and doctor and nurse clinics. The Company will also explore opportunities to contract for U.S. Federal Government-approved Emergency Medical Services, given its eligibility to bid for U.S. Federal Government contracts and grants. Cannabis Science is a registered vendor in the U.S. Federal Government’s System for Award Management (SAM) and has successfully received a CAGE Code, one of the few companies in its industry to do so. Additional space within the Cannabis Science Medical Centers will be leased to physician groups and other medical cannabinoid related health services and well-being providers. “I am particularly excited about the Cannabis Science Medical Center, as this was always one of our main goals,” stated Mr. Dabney. “This facility will serve as a hub for our activities. Not only will physicians be able to consult directly with patients at the Center, but the Company will also be able to coordinate and expand its global reach and research on cannabinoid-based drugs related to development initiatives through the Cannabis Science Global Research Consortium.”
5. Planning for Cannabis Science’s Black Tie Gala Event – Cannabis Science announces that its “Cannabis Science Black Tie Gala Event” is tentatively scheduled for December 1, 2018. This long-awaited event will be hosted by Cannabis Science among a host of special guests and partners; as previously stated, the Company President, Mr. Raymond C. Dabney intends to present the loyalty stock gifts to shareholders at this event. “With so many great things happening all at the same time it’s tough to celebrate, while you are so busy, but it’s definitely time to have a Party! We will raise awareness and funds for increased medical cannabis research to develop medicines to treat critical ailments such as various cancers, chronic pain, post-traumatic stress disorder (PTSD), neurological disorders, and many more. I’m looking forward to seeing everyone there!” stated, Mr. Raymond C. Dabney. Through its gala events, Cannabis Science intends to celebrate the accomplishments in the medical-cannabis industry, the patients, the doctors, we the people, will celebrate along with those who have been instrumental in the Company’s achievements, namely shareholders and key industry partners. The program for the Black Tie Gala will include cannabis treatment success stories from patients and physicians, live entertainment, fundraising auctions, and updates from the Company about new drug developments and future expansion plans. The Gala will also showcase Cannabis Science’s new Pharmacies Partners and innovative Products.
6. Acquisition of Bottle It, Inc. – On March 19, 2018, Cannabis Science announced the acquisition of Bottle It, Inc. “Cannabis Science’s acquisition of Bottle It contributes significantly to our Company’s growth strategy and solidifies our capabilities as a manufacturer,” stated Mr. Dabney. “We now have the in-house capacity to manufacture PET bottles and containers for Cannabis Science’s consumer products, as well as to manufacture bottles and containers for other manufactures of beverages, specialty waters, foods, cosmetics, and other products globally. This creates an important new revenue stream for Cannabis Science.” With new investment to expand Bottle It’s manufacturing facility, along with demand for bottles and containers from Cannabis Science and other product producers, the Company believes it can grow Bottle It’s revenue substantially in the next few years. The global market for plastic containers was approximately $273 billion in 2014, and is expected to grow to over $388 billion in 2020.
Established in 2014, Bottle It is a PET injection-mold and blow-mold manufacturer servicing the food and beverage industry with reported annual revenue of approximately $1.5 million in 2016 and 2017. Bottle It manufactures pre-forms for various bottled waters, energy drinks, vitamin shots, tinctures, drops, various pill bottles, and sprays, as well as various food containers for rice, flour, milk, dry food mixes, spices, mixed nuts, cookies, etc.
In the U.S., the market for pharmaceutical plastic bottles was over $6.5 billion in 2016, and should grow to over $9 billion by the end of 2024. Additionally, plastic bottles and containers will realize growth with demand for unit-dose packaging for pharmaceutical products, which is a high-growth end market for plastic packaging. End-user industries like healthcare and bottled water are augmenting the usage of plastics and thus driving the demand in fast-growth markets in Asia and other emerging regions. Americans purchase approximately 42.6 billion individual 1-liter bottles of water annually. Globally, people use approximately 200 billion plastic water bottles per year. Wine and liquor use approximately 5.4 billion bottles per year, energy drinks 4.2 billion, sports drinks 5.4 billion, tea 7.9 billion, fruit beverages 15 billion, milk 17.6 billion, soft drinks 81.9 billion, and beer 62 billion bottles.
6. Acquisition of Cannabia® - On March 14, 2018, Cannabis Science announced a new partnership with Crown Baus Capital Corporation (OTC: CBCA) to distribute Cannabia® in the United States and Canada. Crown Baus Capital acquired a 100% stake in Cannabia®, the world’s first alcoholic, cannabis beer.
"The acquisition of Cannabia® and Cannabis Science’s distribution partnership with Crown Baus Capital are strategically important to the growth strategy of our company and our partners, and more acquisitions are planned to complement our operational growth and maximize profitability so savings can be passed on to our valued, self-medicating patients and general public consumers,” stated Mr. Dabney. Cannabia® sales have been growing 15 to 25% per year, and beverage sales are expected to increase substantially as Cannabis Science introduces Cannabia® products into the U.S. and Canadian markets. California alone is the world’s sixth-largest economy with a GDP of $2.5 trillion. This represents a very large market opportunity for Cannabis Science, who will distribute Cannabia® non-alcoholic beverage lines through its Pharmacies. Cannabis Science’s President, CEO, and Co-founder, Mr. Raymond C. Dabney, is the President, CEO, and Co-founder of Crown Baus Capital. For more information on Cannabia®, please visit http://www.cannabia.de/.
7. Expansion into the European Market – To better position Cannabis Science for growth in the European market, the Company intends to establish its European headquarters, including lab facilities, in The Netherlands. This move should help facilitate a number of the Company’s initiatives, including allowing Cannabis Science to more effectively implement its partnership with Crown Baus Capital and support Crown Baus Capital’s new joint venture with Dupetit Natural Products GMBH, the producer of Cannabia®, CANNAPOW, and other hemp and cannabis-infused products. This move will also facilitate the Company’s growth model in Europe for this acquisition and other activities, as well as provide the necessary infrastructure to manage supply-chain logistics and new product development. Cannabis Science intends to establish a new hemp farm in The Netherlands, as well as in Spain, to provide for the Company’s formulations and the development of new products for distribution throughout the European market. Mr. Alfredo Dupetit, Founder and CEO of Dupetit Natural Products GMBH, has been named Cannabis Science’s President and CEO of European Operations.
8. Launch of iCannabinoid Website – On February 27, 2018, Cannabis Science announced the Beta Launch of its iCannabinoid website, a state-of-the-art, high technology social media and educational platform. The Company expects iCannabinoid to quickly become the premier online platform for all things cannabinoid-related, and will create a community of patients, advocates, doctors, researchers, parents, lawyers, growers, journalists, government and private-sector leaders, community organizers, and other interested parties. To join in the Beta Launch of iCannabinoid, please visit and register at http://icannabinoid.com/. iCannabinoid is designed to serve as an information center, resource hub, and support group for those seeking alternative cannabinoid treatments for various critical ailments such as cancer, arthritis, Parkinson`s Disease, anxiety, Multiple Sclerosis, and more. This new website is designed to be a conduit to provide timely and relevant information for cannabis users to share with each other 24/7 online.
iCannabinoid’s My Health Modules are a significant feature in iCannabinoid that allow Members to set up fully integrated personal health modules for tracking health records and set goals. Easy access and editable modules are provided for Members to create medication lists, monitor dosage results, monitor heart rate and blood pressure, check and track sleep patterns, monitor pain influxes, along with the flexibility to create unique health tracking modules for Members’ personal needs. Members can track personal health goals and milestones, as well as many other items relating to specific personal health maintenance.
To ensure privacy, iCannabinoid’s My Health Section will only be accessible by the individual Member. Members will have the option to share approved modules with other Members, as well as see other Members’ approved modules that have also been shared. To start tracking your health now, please visit: http://www.icannabinoid.com/index.php/my-health.
iCannabinoid Members will be able to track and share their personal experiences with cannabinoid treatments through action groups, chat, blogs, photos, and videos. These experiences will serve to educate and inspire other Members, as well as allow Members to connect based on their interests and profile information. Discussion groups can be created to connect with people of the same interests, potentially allowing patients to schedule consultations with doctors in the future, as well as sign up for future clinical trials for novel cannabinoid therapies. iCannabinoid will provide opportunities to enlighten medical practitioners on all aspects of cannabinoid therapies and the endocannabinoid system, and allow them to directly interact with and help patients. Furthermore, this platform will empower patients to educate themselves through sharing information about the potential benefits of using cannabinoids as a complementary therapy to lessen side effects such as nausea, insomnia, and anxiety. Advocates of medical cannabinoids can also demonstrate their support for legalization by signing up to advocate for common sense medical cannabis legislation.
9. Expansion of the Cannabis Science Global Consortium and Drug Development Progess – In the first quarter of 2018, Cannabis Science continued to expand its Global Consortium through new and expanded relationships with leading research institutions in the United States and globally. The Company is linking alternative drug research, education, and job creation with universities, foundations, corporations, and key individuals all looking to create a robust environment to share research, ideas, and other relevant information as a powerful influential team. The Cannabis Science Global Consortium is implementing cutting-edge research programs to develop new medicines and delivery mechanisms from bench-to-bedside in demographics with great medical needs, or with little or no basic resources, and other key embattled demographic areas.
Cannabis Science’s current research forms part of a pipeline from research to scientific publication that the Company is developing with its research partners, and demonstrates the Company’s strong commitment to science in its pharmaceutical development program. Cannabis Science’s funded research focuses on the clinical applications of cannabinoids in cancer treatment and pain management, and will expand in the following significant directions: (a) investigate the effectiveness of cannabinoid treatment in an increasing array of cancers, especially difficult to treat cancers and those with high fatality rates, (b) develop novel targeted delivery methods in the use of cannabinoids, and (c) explore the mechanisms of action of cannabinoids in the management of disease with advances in bioinformatics, computer science, and pharmacology.
10. Cannabis Science’s Africa Initiative – Through its Cannabis Science Global Consortium, the Company is currently developing initiatives in Namibia, South Africa, and Nigeria, and is in the early stages of identifying opportunities in a number of other African countries. The scope of Cannabis Science’s current research in Africa includes investigating the use of cannabinoids to treat chronic pain disorders, cancers, neurological conditions, PTSD, HIV/AIDS, and other critical/chronic indications, as well as on oro-bucco-lingual dyskinesias, oxidative stress, and psychosis. This initial work program will allow Cannabis Science to do its ground work, identify cultivation/grow locations, and expand the Company’s drug development and economic development programs across the African Continent. Products are being formulated and plans are underway for an initial animal study and clinical trial in Africa, and a Cannabis Science team is planning a follow-up visit to Sub-Saharan Africa in June of this year.
11. Cannabis Science’s Proposed Asset-Backed Blockchain Crypto-Currency ICO – Cannabis Science is developing plans with its sister company, Crown Baus Capital Corporation, for Cannabis Science’s blockchain crypto-currency ICO offering. Cannabis Science intends to begin pre-launch sales of its own proprietary blockchain in the coming months and will commence ICO trading with a unique three symbol trading symbol on a number of blockchain currency exchange markets after pre-launch sales have completed, with similar Bitcoin type ICO trading to follow. The Cannabis Science blockchain white papers are being revised now.
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 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 is detailed from time to time in the company's reports filed with the Securities and Exchange Commission.
A photo accompanying this release is available at: http://www.globenewswire.com/NewsRoom/AttachmentNg/4aa6d709-02df-43e6-a8b3-e869ffa412aa
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