"Approximately 60 Acres of its 250-Acre Industrial Hemp Project on San Joaquin Sovereign Tribal Fee Land MBS, California"
IRVINE, CA--(Marketwired - Aug 16, 2017) - Cannabis Science, Inc. (OTC PINK: CBIS), a U.S. company specializing in the development of cannabinoid-based medicines, and Free Spirit Organics Native American Corporation (FSO NAC), announce the initial harvesting of approximately 60 acres of industrial hemp on San Joaquin Sovereign Tribal Fee land MBS, California. The 2017 CBIS/FSO NAC MBS001 harvesting is a two-phase project, the first phase of the harvesting will be approximately 15-acres that is underway now, it is expected to be completed by the end of this month. Phase two will be the remaining 45 acres and is expected to be completed by the end of September 2017.
"I am very pleased with the progress of our Native American initiatives; our Partners are second to none. They know the landscape, they know the process, they get it, and so do we. The industrial hemp commercial research scheduled for the 2017 CBIS/FSO NAC MBS001 harvest is extensive, initial research targets include extraction for medicines targeting critical ailments, wholesale distribution to physicians and licensed wholesale manufacturers, extraction research and development for fuel, construction materials, clothing, paper, food, vehicle production, and biomass soil, the industries are many and the numbers are immense. The initial 60-acres of the 2017 CBIS/FSO NAC MBS001 harvest is expected to come in potentially around 70,000-pounds, with raw wholesale numbers that make sense around $500.00 per lb., plus factoring in high demands and high quality can create a considerable increase in value for the initiative," stated Mr. Raymond C. Dabney, Cannabis Science's President, Chief Executive Officer, and Co-Founder.
The 2017 CBIS/FSO NAC MBS001 project is a total of 250 acres and is part of Cannabis Science's previously-announced Native American Sovereign Economic Development Initiative. Since the Initiative launch, the Company has over 3,500 acres under contract for economic development for Universities and site services including, laboratory facilities for research & development. Other key fundamentals depending on the demographics of the area include housing, apartments, and dormitories, as well as the required retail services based on area demographics such as restaurants, gas stations, grocery stores, clinics/pharmacies, and retail strip malls.
"These types of initiatives provide us with a platform for real collaborations and real growth. In addition to the agriculture, extraction, property development operations, we're able to couple formal education programs with real-world, commercial activities to have a positive impact in the communities where we operate and contribute to overall economic development. We see this as a very serious win/win situation. Considering we made the season by planting back in June 2017 when we announced it, we are positioned for next year to complete the total 250 acres in this land package and possibly many more from additional Native American Educational Partners across the Country," 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.