IRVINE, CA -- (Marketwired) -- 07/17/17 -- Cannabis Science, Inc. (OTC PINK: CBIS), a U.S. company specializing in the development of cannabinoid-based medicines, has found a California facility ideal for its large-scale manufacturing and product distribution center as it ramps up its efforts to supply cannabinoid medications in high-demand by self-medicating patients. As Nevada's Governor issues a Statement of Emergency due to the potential of limited cannabis availability, CBIS is actively looking for a similar facility in Nevada.
"We have found a perfect space for our initial, large-scale manufacturing and product distribution in California," stated Mr. Raymond C. Dabney, CBIS' President, CEO, and Co-founder. "We also have impeccable partners to assist in our rapidly moving, high-growth schedule. We now have access to the required machinery and expertise to begin the in-house manufacturing process." CBIS' experts will oversee operations to ensure that the Company's established protocols are flawlessly replicated. This type of manufacturing and distribution facility allows CBIS to distribute its products to patients faster, in much larger volumes, and in a very cost-effective manner. Being its own manufacturer and producer of the raw materials required for its manufacturing processes, CBIS will ensure that cost-effective standards are applied to the production of its current products, including pills, extracts, creams, tinctures, and sprays. CBIS' quality assurance program will also be applied to the development and distribution of new and exciting products that can be developed and released on demand for self-medicating patients.
A new opportunity has appeared and CBIS believes that this augers well for the future. Nevada's governor has endorsed a Statement of Emergency declared for marijuana regulations, after the state's tax authority declared that many stores are running out of marijuana and cannabinoid products. The Nevada Tax Commission said in a statement that it will consider emergency regulations to provide a structure for marijuana distribution to retailers. Based on reports of adult-use, marijuana sales have already far exceeded the industry's expectations at the state's 47 licensed retail marijuana dispensaries. Given that many stores are running out of inventory, the Department must address the lack of distributors immediately.
"We have considerable land holdings in Nevada through our partnerships and we see this as an outstanding opportunity for us to speed up our cultivation efforts in Nevada. This huge demand will help us achieve our goals of becoming a large-scale producer in Nevada. This supply concern should help accelerate our approvals for licensing and help us begin new product sales in Nevada in the very near future," concluded 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 is detailed from time to time in the company's reports filed with the Securities and Exchange Commission.
Cannabis Science, Inc.
Dr. Allen Herman
Chief Medical Officer (CMO)
Cannabis Science, Inc.
Mr. Raymond C. Dabney
President & CEO, Co-Founder