COLORADO SPRINGS, CO - (NewMediaWire) - September 3, 2015 - Cannabis Science, Inc. (OTC PINK: CBIS), a U.S. company specializing in the development of cannabis-based medicines, is pleased to announce it has filed its preliminary Schedule 14C filing as the next steps to complete its dividend payout of the previously filed dividend share payout as filed with the S.E.C. on a Definitive Schedule 14C on August 18, 2011 and include all shareholders in on what the Company considers a landmark growth curve.
The Company has met the initial target of filing the preliminary statement with the new structure program by the end of August 2015 with no reverse split, with the main focus on increasing shareholder value for everyone involved. As planned the Company will apply for a unique trading symbol to accommodate a $15 - 25 million USD range financing it has been actively negotiating to accelerate all its drug development programs and expand its State-by-State initiatives. Once the financing has been successfully negotiated and closed the Company will formally pursue the contemplated up listing to NASDAQ.
(1) To issue a new dividend to holders of our current common stock so they received 1 share of Class A common stock and 1 non-transferable share purchase warrant for each 100 shares of our current class of common stock that they previously owned as of the record date, October 9, 2015. Each warrant will grant the holder to purchase an additional share of Class A common stock at a price of $1.00 per share. The warrant will be exercisable for 90 days from the date that the Class A common stock receives a trading symbol.
(2) To issue the previously announced and approved dividend that will issue 1 share of Class A common stock and 1 non-transferable share purchase warrant for each 10 shares of the Company's current common stock that they previously owned as of the record date of December 31, 2010. Each warrant will grant the holder to purchase an additional share of Class A common stock at a price of $1.00 per share. The warrant will be exercisable for 90 days from the date that the Class A common stock receives a trading symbol.
"All our shareholders can rest assured that once we have the required regulatory approvals we will publicly inform everyone with the same information on how to retrieve their dividend share payout on a timely basis. It will most likely be done through the transfer agent communicating with each shareholder directly to confirm share ownership dates. We are excited to give our all shareholders their dividend payout, close out these financing deals, and begin our quest for NASDAQ. Again, it's been a long and very exciting road, with all the opportunities we have collected along the way. We certainly 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," stated Mr. Raymond C. Dabney, Director, 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. 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.