We’ve covered many aspects of Cannabis Science Inc (OTCMKTS:CBIS) here on Street Register in the past, including its cannabis research agreement with the Dana-Farber Cancer Institute, its venture with Crown Baus Capital to distribute the world’s first non-alcoholic cannabis beer, and its acquisition of ‘Bottle-It’, a manufacturer of polyethylene terephthalate (PET) containers.
CBIS is one of those companies that keeps a lot of irons in the fire, which seems to have become characteristic of entities operating in the cannabis space. It makes for fast moving news, and despite having last talked about it just a couple of weeks ago, multiple updates were revealed in the most recent PR.
Cannabis Science Inc (OTCMKTS:CBIS) issued a 2018 First Quarter Guidance Report and announced the court date set (04/20/18) for the Company’s lawsuit against San Joaquin County, California. Cannabis Science in looking forward to a favorable resolution of its lawsuit, and to the full implementation of the Company’s revenue growth plan through additional acquisitions, as well as through the development of new wholesale and retail sales channels on route to become a leading educational, medical & industrial cannabinoid producer.
Cannabis Science, along with plaintiffs including American States University, HRM Farms, and Free Spirit Organics Native American Corporation, among others, is seeking full compensation for what they term as a wrongfully-seized hemp crop that was being cultivated for research and medicinal purposes.
Cannabis Science is also finalizing the build out and upgrades to the first two CBIS Pharmacies in California, with the first Pharmacy is tentatively scheduled to open on April 20th pending the outcome of the court case.
The launching of Cannabis Science’s Pharmacies is an important part of the Company’s overall drug-development strategy. These Pharmacies will provide Cannabis Science with a retail sales channel and will enable the Company to interact directly with those who will benefit from its medicines. Cannabinoid products on offer will range from pills, creams, extracts, sprays, tinctures, edibles, balms, patches, oils, raw products, and merchandise.
The Company is also developing plans to establish Cannabis Science Medical Centers and has identified several opportunities to acquire buildings in Los Angeles area for its first CBIS Medical Center. The Cannabis Science Medical Centers will include full laboratory facilities, patient intake, and doctor and nurse clinics.
Additionally, to better position itself for growth in the European market, CBIS intends to establish its European headquarters, including lab facilities, in The Netherlands. It is intended to facilitate the Company’s growth model in Europe, as well as provide the necessary infrastructure to manage supply-chain logistics and new product development. Cannabis Science intends to establish a new hemp farm in The Netherlands, as well as in Spain, to provide for the Company’s development of new products for the European market. (Source: Globe Newswire)
It’s plain to see what we were referring to when talking about the multiple irons the company has in the fire. CBIS, the first domestically traded public cannabis company, remains to this day, one of the most exciting players in the space. We will certainly continue to track its activities as we have since the inception of Street Register itself. We’ll stay up on any further developments with CBIS and pass them along to you!. Keep it locked on Street Register for updates, and we’ll deliver important developments on CBIS as they unfold. In the meantime, if you’ve yet to sign up for our 100% free newsletter, do so now! Just enter your active email address into the box below and submit!
Disclosure: No one at Street Register has been compensated in any way for the publishing of this article, nor do we hold any position in CBIS stock, short or long.