Cannabis Market Continues Rapid Growth: Advancer with Recent Acquisitions Moves Forward to Become Full Reporting Company
CORAL SPRINGS, Florida, March 12, 2014 /PRNewswire/ --
The Medical Marijuana and Cannabis Industries forge ahead with indications of reaching a point of public acceptance as TV & radio ads are getting more air time. The bustling industry shows no signs of slowing down as the following companies continue to forge on with lessening restrictions: The CannaBusiness Group, Inc. (OTC: CBGI), Cannabis Science, Inc. (OTC: CBIS), GW Pharmaceuticals plc (NASDAQ: GWPH), MediSwipe, Inc. (OTC: MWIP) and Easton Pharmaceuticals Inc. (OTC: EAPH)
The CannaBusiness Group, Inc. (OTCPink: CBGI) files 2013 Annual Disclosure Statement and prepares financials to be audited by PCAOB accountant and have attorney file form 10. http://www.thecannabusinessgroup.com From the 1st quarter of 2014 and beyond, The CannaBusiness Group, Inc and its subsidiaries will file financials together on the OTC Markets and as soon as we have completed our audits and approved through the SEC, 10Q and 10K's will start to be filed with the SEC and CBGI will become a fully reporting public company.
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The CannaBusiness Group, Inc. CEO Michael Cummings commented, "One of our goals is to move up to a fully reporting SEC company, this will take some time with the auditor and legal counsel however, we are moving diligently towards that goal and hope to be fully reporting within 6 months on the OTCQB." The Company recently acquired commercial property or land, they lease out the facilities for Agricultural, Industrial, Commercial and Retail, while managing the properties that it has acquired and leased out. The facility has a tenant that is a state licensed California medical marijuana cultivator. The land is 17.3 Acres located in Northern California with its own water source which has never been without water. The property is being purchased for $275,000 with restricted common stock and cash.
Cannabis Science, Inc. (OTC: CBIS) a U.S. Company specializing in cannabis formulation-based drug development and related consulting, applauds CNN's Dr. Sanjay Gupta for continuing to bring to public attention the medical value of cannabis to patients and the challenges that patients face in seeking cannabis-based life-savings treatments. Leading up to the airing of his new documentary, 'Weed 2', to be aired this evening on CNN at 10 p.m. EDT, Dr. Gupta published an article in which he states, among other things, that "I am more convinced than ever that it is irresponsible to not provide the best [medical] care we can, care that often may involve marijuana. I am not backing down on medical marijuana; I am doubling down."
GW Pharmaceuticals plc (NASDAQ: GWPH) announced recently that the U.S. Food and Drug Administration (FDA) has granted orphan drug designation for Epidiolex(R), GW's product candidate that contains plant-derived Cannabidiol (CBD) as its active ingredient, for use in treating children with Lennox-Gastaut syndrome (LGS), a rare and severe form of childhood-onset epilepsy. Epidiolex is an oral liquid formulation of a highly purified extract of CBD, a non-psychoactive molecule from the cannabis plant. In November 2013, GW announced that the FDA had granted orphan drug designation for Epidiolex in the treatment of Dravet syndrome. Following the successful follow-on offering completed in January 2014, GW intends to advance a full clinical development program for Epidiolex for the treatment of both LGS and Dravet syndromes. Working with leading pediatric epilepsy specialists in the United States, GW expects to commence an initial Phase 2 clinical trial for Epidiolex in the second half of 2014. This trial, if successful, is expected to lead to Phase 3 pivotal trial programs in both Dravet syndrome and LGS intended to support New Drug Applications with the FDA.
MediSwipe, Inc. (OTC: MWIP), the leader in Compassionate Care Technology Solutions and products for the medicinal marijuana industry, has announced the initiation of up to a $500,000 credit facility to fund a broad range of cost-effective and flexible equipment leasing, real estate lease purchase agreements and financing programs for licensed retail, recreational and grow operations within the state of Colorado. The innovative financing concept will quickly allow qualified licensed individuals and existing operations to participate in a revolving credit line to purchase heavy agricultural equipment including lighting, CO2 and hydrocarbon extractors, real estate property and acreage zoned for the regulated cannabis industry. The flexible and easy access business loans will eliminate much of the red tape of traditional bank financing. The Company is presently in negotiation with its' first two properties within the state of Colorado.
Easton Pharmaceuticals Inc. (OTC: EAPH), a specialty pharmaceutical company that owns, designs, develops, and markets an array of topically-delivered drugs and therapeutic / cosmetic healthcare products, recently announced it nearing its limit on financing under regulation offerings. The company is now moving towards a Reg A filing to raise an amount up to $5,000,000 per year from an accredited investor on a best efforts basis. In other events, Easton has closed on an agreement for Medical Marijuana. Under the current financing the company has been receiving, it is only allowed to raise up to $1,000,000 per year which was achieved sooner than expected. The company, in order to fulfill its financing needs is now moving forward with a Reg A filing with the securities and exchange commission to raise an amount up to $5,000,000 per year with an accredited investor on a best efforts basis. These funds are required for its various initiatives, which includes its medical marijuana program and its other line of therapeutic and healthcare products. Easton Pharmaceuticals announces it has come to terms on its negotiations with one of its proposed medical marijuana partners. The companies are now in the process of drafting a final agreement. Complete details to be disclosed on a subsequent press release to be announced when fully completed and executed.
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