COLORADO SPRINGS, CO - (NewMediaWire) - August 18, 2015 - Cannabis Science, Inc. (OTC PINK: CBIS), a U.S. company specializing in the development of cannabis-based medicines, is pleased to announce the closure and issuance of the previously filed dividend share payout as filed with the S.E.C. on a Definitive Schedule 14C on August 18, 2011, the Definitive Schedule 14C filing (RULE 14c-101). The Company also intends to file another Information Statement to accommodate new shareholders to date to receive a similar dividend payout, to bring all shareholders in on what the Company considers a landmark growth curve. The Company expects to accelerate its current FDA targeted drug development programs and expand its State-by-State initiatives. Increasing shareholder value is of foremost importance for everyone involved; to this end the Company will apply for a unique trading symbol to accommodate a $15 - 25 million USD range financing it has been actively negotiating for the newly created class of dividend payout Common A stock, and formally pursue a contemplated up listing to NASDAQ. The Company expects to begin filing the complete new structure program with no reverse split by the end of the month.
Cannabis Science, Inc. (the "Company") wishes to update its current and former shareholders regarding the previously approved share dividend, which was filed on a Definitive Schedule 14C with the Commission on August 18, 2011. The Company will use its best efforts to issue the share dividend, which is one new share of Class A common stock for each ten shares of common stock that they owned as of December 31, 2010. In addition to this dividend, the Company intends to file a new Information Statement pursuant to Section 14(C) to issue a new dividend to shareholders as of October 9, 2015. The Company intends to seek the approval to issue a dividend of one share of Class A common stock for each one hundred shares owned by shareholders of record as of October 9, 2015. Both dividends will also carry a warrant that will give each shareholder of record a share purchase warrant consisting of an option to purchase one additional share of Class A common stock for each special dividend share received. Each warrant will be exercisable into one share of Class A stock at a price of $1.00 per share for a period of three months after all the proposed changes officially take effect. The Company also plans to apply for a unique and separate trading symbol for its shares of Class A common stock.
"We are very excited to give our all shareholders a dividend payout and get on with the business at hand. It's been a long and very exciting road, with lots of opportunities we have collected along the way. We believe this dividend structure gives our previous and current shareholders of record an outstanding opportunity to capitalize on the share dividend payout to create another asset base for them, while the company utilizes the new class of Common A shares with a higher value to complete our negotiations for a much larger funding to push our drug development programs forward much faster. As regulation changes swiftly in such an enormous burgeoning industry, it creates opportunities and it can create hurdles for those same opportunities. We must remain fluid and move as the regulations move. We believe our team of Scientific Advisors gives us the unique opportunity to strive for excellence in our drug development programs as their track record speaks volumes for themselves. Our expansion program will be fueled by the growing market and demand," stated Mr. Raymond C. Dabney, President & CEO, Co-Founder, Cannabis Science Inc.
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.
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.