Good news out and yet no movement. The whole market is taking a beating today. It's such a bad day to release the news!
Cannabis Science Begins Expansion of Production and Research at Montana Pain Management
"The Proven Ability to Address the Developing Medical Cannabis Market at a National Level"
COLORADO SPRINGS, Colo., Jun 29, 2010 (GlobeNewswire via COMTEX) -- Cannabis Science, Inc. (CBIS 0.10, -0.01, -7.46%) , a pioneering U.S. biotech company developing pharmaceutical cannabis products, reports that it has begun the process of expanding the internal production and research capabilities of Missoula medical cannabis provider, Montana Pain Management (MPM), which Cannabis Science acquired earlier this month.
Rick Rosio, President of MPM, explained, "Our clients deserve quality and compassion, and the union of MPM and Cannabis Science is crucial to ensuring that our patients have consistent access to the safest and most effective cannabis therapeutics."
Recent bans and moratoriums in Montana have forced the closing of many cannabis providers across the state, leaving patients worried about how to legally acquire their supply of medicine. The instability surrounding medical cannabis has created problems for many of Montana's ill, forcing them into situations where safe access is impossible.
"This is about education and quality control," says Rosio. "By being compassionate, honest, and transparent we hope to build a lasting positive relationship with Missoula and all of Montana. The ability to track all produced cannabis and strict checks and balances insures that any community or state agency that is looking for ways to provide medical cannabis in their communities can confidently look at the solutions that Cannabis Science is now able to offer."
Dr. Robert Melamede PhD, Cannabis Science President and CEO, added, "Our production staff has begun the process of expanding the internal production of cannabis at MPM's facilities in Missoula. This process will allow MPM to expand its patient base by 100 new clients each month and provide the necessary in-house production of advanced medical cannabis genetics to further Cannabis Science's objectives in developing pharmaceutical applications for medical cannabis. We are pleased that Montana officials are working with Rick Rosio to develop policies that protect patients and assure that they have access to the medicine they need."
Richard Cowan, Cannabis Science CFO, explained, "Increasing the output from the internal production facilities is critical to a swift and aggressive positioning in the developing national medical cannabis industry. With the proven abilities of MPM's agricultural staff, combined with the analytical capabilities of our scientists and commercial production staff, Cannabis Science now has the proven ability to address the developing medical cannabis market at a national level as more states enact compassionate policies."
About Cannabis Science, Inc.
Cannabis Science, Inc. is at the forefront of pharmaceutical grade 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.
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 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.
This news release was distributed by GlobeNewswire, www.globenewswire.com
SOURCE: Cannabis Science, Inc.
CONTACT: Cannabis Science Inc.
Dr. Robert J. Melamede, President & CEO
Mark J. Friedman