Cannabis Science Signs Lease for New 6,600 sq. ft. Corporate Headquarters and Laboratory Facility
COLORADO SPRINGS, Colo., Dec. 14, 2010 /PRNewswire/ -- Cannabis Science, Inc. (OTC Bulletin Board: CBIS) a pioneering U.S. biotech company developing pharmaceutical cannabis products, is pleased to announce it has signed a lease for a new corporate headquarters as its new base of operations in Denver, Colorado. The 6,600 sq. ft. core facility at 2422 S. Trenton Way, Unit H will be dedicated to housing executive offices, administrative personnel, as well as the Lab Division core of operations for its cannabis formulations testing and FDA initiatives.
"Needless to say we are very happy that with the support and patience of our investors we have achieved this milestone. This facility will be the Cannabis Science core and is an instrumental step in accomplishing our short and long-term goals of carrying out the basic and applied research needed to provide the best Cannabis Science products to patients. Uniquely, Cannabis Science will serve both the dispensary market, through licensing our technologies and analytical capabilities, and the pharmaceutical market, by working through the FDA approval process," stated Dr. Robert Melamede, CEO.
The company has executed a five-year lease on the facility in order to provide stable growth during our development phase. In our new corporate headquarters, the Company will facilitate customer communications while we mature our operations. Up till now, the Company has focused on developing out corporate structure and preliminary financial base. We now have the facility to centralize and expand our staff. As we expand our infrastructure, we will be more responsive to the overwhelming number of inquiries that we receive from patients, investors and the media.
The new laboratory facility will include analytical chemistry and genetic instrumentation, extraction equipment, as well as genetic and cell culture facilities. Our intent is to meet or exceed all federal, state, and local regulatory requirements particularly with respect to meeting FDA standards. Cannabis Science is currently working diligently to proceed down the FDA regulatory path. Our new facility will expedite this process.
Cannabis Science previously announced, on 8 July 2010, the execution of a lease on a 9,500 square foot facility in Denver that is now solely housing the grow operation of its licensed partner Rockbrook, Inc., in compliance with the current licensing requirements of the State of Colorado for a horticulture facility, infused products facility, and medical cannabis dispensary.
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
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.
SOURCE Cannabis Science, Inc.