COLORADO SPRINGS, CO–(Marketwired – Oct 30, 2015) – Cannabis Science, Inc. (OTC PINK: CBIS), a U.S. company specializing in the development of cannabis-based medicines is pleased to announce that following the Schedule 14C Dividend filing, the Company has now filed the request to execute the dividend with FINRA.
Company counsel should hear from FINRA within a few days as it relates to the final filing. Once FINRA approves the dividend, which should take a week or so, the Company will advise shareholders on the next steps required in order to obtain their dividend shares. As stated in the press release dated October 28, 2015, the following is the criteria for said dividends.
(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.
"Our shareholders have been phenomenal every step of the way. The patience and understanding have been much appreciated," CEO Raymond Dabney, stated, "Nothing makes me happier than to be able to deliver this dividend to each of them that meets the requirements."
As well, the Company is on the cusp of its new product launches in California, which could happen as early as next week. Released through the Cannabis Science Research Foundation these cannabinoid-induced products are tested and ready for market. Some of the other new product launches tie directly to recent acquisitions like Equi-Pharm, LLC. Equi-Pharm is presently being transitioned under the Cannabis Science umbrella. This once equestrian specialty company has broadened their marketing targets to include many other animals in addition to horses. Entering into this $60B industry has the Company looking at a wide and diverse array of other opportunities. These recent development are all part of Cannabis Science's 'breakthrough drug development growth plan'.
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 are detailed from time to time in the company's reports filed with the Securities and Exchange Commission.
Cannabis Science, Inc.
Mr. Raymond C. Dabney
Director, President & CEO, Co-Founder
Cannabis Science, Inc.
Mr. Robert Kane