Cannabis Science Inc., a company specializing in cannabis-based pharmaceutical development and related consulting operations, has agreed to finance $1 million to satisfy its current capital requirements. Cannabis Science is raising the $1 million through private placement. The pricing is set at $0.25 per share for 144 restricted shares coupled with a one-year warrant for $0.50 per share to comprise a complete unit offering.
The financing is being headed by affiliates and associates followed by an assorted group of individuals that have shown a strong interest in moving Cannabis Science’s projects forward immediately. Initial commitments exceed $100,000, and the company has received the first $50,000.
The intended projects include fast tracking cancer initiatives and its observational studies for the existing CBN patent the company filed last year.
“The market has shown an overwhelming interest in our story. This comes at the perfect time as our projects are coming to a point of maturity that will allow us to take the next important steps forward. These steps should create revenues that will support Cannabis Science going forward on an ongoing basis,” said Robert Kane, CFO of Cannabis Science.
Date: February 20, 2014
Source: Cannabis Science