CANNABIS SCIENCE SMOKEFREE JV LLC Domestic Limited-Liability Company Created and Has Started Testing to Enter Potential Multi-Bi
13 September 2010 - 3:29PM
Cannabis Science (OTCBB:CBIS) announces the formation of a new LLC,
CANNABIS SCIENCE SMOKEFREE JV LLC, which has started testing
various medical cannabis formulations for possible early JV product
release entering the potential multi-billion medical cannabis
market.
Smokefree Innotec, Inc. (Pink Sheets:SFIO) (http://www.sfio.us
or http://www.realsmokefree.com) CEO Thomas Schroepfer
confirmed the Cannabis Science JV with an announcement of their own
confirming the development and marketing of several high-tech
smoke-free vaporized medical cannabis pharmaceutical
products, reported by CBIS on August 13, 2010.
Richard Cowan, Cannabis Science's CFO, said, "It is
well worth reporting our progress as we have begun testing our
cannabis formulations for multiple ailments and the delivery
methods using the products developed from the CANNABIS SCIENCE
SMOKEFREE JV LLC. In collaboration with Rockbrook Inc., we expect
to be in the forefront of marketing devices delivering medical
formulations of pharmacological extracts to dispensaries and
healing centers already in existence, in compliance with applicable
federal and state regulations. With the anticipated voter approval
of Prop 19 in California, we believe the number of
dispensaries and related retail establishments for marijuana and
marijuana accessories will multiply rapidly, creating a multiple of
billion dollar markets for our medical cannabis products to obtain
revenue streams. According to Wikipedia, 'Across California there
is an estimated 2,100 dispensaries, co-operatives, wellness clinics
and taxi delivery services in the sector known as cannabusiness.'
That is more than all the Starbucks, McDonald's and 7-Eleven
outlets in the state put together, according to The Sunday
Times."
Richard Cowan explained, "There is a huge market for such
products just in California alone. For example, even in San
Diego, California, a grand jury report 'estimated there are at
least 5,000 medical marijuana patients in San
Diego County, and it's probable there are considerably more.
Medical marijuana advocates say there could be 60,000.' From the
multiple news reports generated almost daily now a majority of
Californians continue to voice their support for Prop. 19, which
would eliminate penalties for the private possession and
use of marijuana by adults, and allow local governments
to regulate retail cannabis production and sales. Further, the
results of a series of randomized, placebo-controlled clinical
trials assessing the efficacy of inhaled marijuana consistently
show that cannabis holds therapeutic value comparable to
conventional medications, according to the findings of a 24-page
report issued Wednesday to the California state legislature by the
California Center for Medicinal Cannabis Research (CMCR)."
In an earlier release, Dr. Robert Melamede, President and CEO of
Cannabis Science Inc., stated, "Many patients smoke medical
cannabis because it gives them rapid relief that allows them to
monitor their usage. Smokefree Innotec's technology allows the
patients even greater convenience and dosage control than smoking,
without all of the possible health and social/legal problems
associated with smoking. Cannabis Science will provide a variety of
standardized medical marijuana formulations to be used with the
Smokefree Innotec products, so that patients can self-monitor their
dosages. Of course, these products will be of even greater value to
patients who do not like to smoke since vaporizing minimizes the
irritating and harmful effects caused by direct smoke contacting
the lungs."
About Cannabis Science, Inc.
Cannabis Science, Inc. is at the forefront of medical marijuana
research and development. The Company works with world authorities
on phytocannabinoid science targeting critical illnesses, and
adheres to scientific methodologies to develop, produce, and
commercialize phytocannabinoid-based pharmaceutical products. In
sum, we are dedicated to the creation of cannabis-based medicines,
both with and without psychoactive properties, to treat disease and
the symptoms of disease, as well as for general health
maintenance.
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
works such as "anticipate," "seek," intend," "believe," "plan,"
"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.
CONTACT: Cannabis Science Inc.
Dr. Robert J. Melamede, President & CEO
1-888-889-0888
Investor Relations
Mark J. Friedman
1-877-431-CBIS (2247)
info@cannabisscience.com
www.cannabisscience.com
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