Cannabis Science Signs Joint Venture With Smokefree Innotec Inc. to Develop High-Tech Smoke-Free Vaporized Medical Cannabis Prod
12 Agosto 2010 - 4:03PM
Cannabis Science (OTCBB:CBIS), a pioneering U.S. biotech company
developing pharmaceutical cannabis products announced today that it
has executed a Joint Venture Agreement
with Smokefree Innotec Inc. (Pink Sheets:SFIO). The
objective of the joint venture is to develop and market several
high-tech smoke-free vaporized medical cannabis pharmaceutical
products. Under the joint venture, Smokefree Innotec,
Inc. will provide its high-tech smoke-free vapor technology
devices, and Cannabis Science will provide all the medical cannabis
extract formulations. Both parties equally share in the revenues
derived from this Joint Venture.
Dr. Robert Melamede, President & 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."
Thomas Schroepfer, CEO of Smokefree, stated, "We have
entered into this joint venture with Cannabis Science to utilize
their innovative knowledge of the science of cannabis and their
laboratory research expertise. These competencies coupled with our
high-tech products open the door for substantial product
distribution channels on an international level. Our initial target
markets will be the expanding number of States that have approved
medical marijuana use according the applicable federal and state
regulations. With our international distribution
of Smokefree Innnotec products already well established,
the entry into the Medical Cannabis market represents our
commitment to significantly expand and distribute the new products
across North America, while we identify and secure a market share
of rapidly growing industries such as Medical Cannabis, Military
Retail and Government service."
The managements of both companies are grateful for the expert
guidance provided by retired Lieutenant Cornel Kevin Sullivan of
Leading Points Corporation, (www.leadingpoints.com). Leading Points
initiated the relationship between Cannabis Science and Smokefree
Innotec that resulted in this joint venture. Leading Points
Corporation, whose mission is matching industry leaders in order to
capture market share for government and military distribution of
products will continue in that capacity to further progress
possible government and military use of the products developed from
this joint venture.
About Smokefree Innotec,
Inc: www.smokefree-innotec.com
Smokefree Innotec, Inc. is in the business of designing,
developing, manufacturing and marketing hi-tech, nicotine and
non-nicotine cigarette-like delivery devices which are completely
smoke and vapor-free and
tobacco-free. Smokefree Innotec's products are designed
to protect the non-smoker from second hand smoke and all its
effects while providing the smoker a way to enjoy a smoke and
vapor-free cigarette anywhere, including places where smoking
tobacco or similar substances is prohibited. Further, our products
will allow the smoker to enjoy smoking either nicotine or flavored
non-nicotine cigarettes while not having to worry about the
offensive dangers and ill effects of regular cigarette smoking.
However Smokefree Innotec products are not intended for
the prevention or therapeutic treatment of any disease.
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.
CONTACT: Cannabis Science Inc.
Investor Relations
Mark J. Friedman
1.877.431.CBIS (2247)
Dr. Robert J. Melamede, President & CEO
1-888-889-0888
info@cannabisscience.com
www.cannabisscience.com
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