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Cannabis Science Provides Growth Guidance on its Medicine Dispensing Systems (MDS) Exclusive & Non-Exclusive Agreements

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CBIS Sees Canada as Flagship Market Launch

COLORADO SPRINGS, Colo. — (NASDAQ OTC: CBIS) Cannabis Science, Inc., a U.S. Company specializing in cannabis-based pharmaceutical development and related consulting operations, provides shareholder clarity and growth guidance for its gross profit sharing exclusive and non-exclusive agreement in select markets with MDS, a subsidiary of Medbox, Inc. Under the terms of the agreement Cannabis Science has a 50/50 gross profit exclusive on any and all MDS equipment sales in Canada and other select markets. Both CBIS and MDS have multiple opportunities in Canada based on recent developments with medical cannabis in that market. Other countries will follow pursuant to the agreement as CBIS moves forward aggressively in Europe and South America.

Details of the Cannabis Science and MDS agreement are as follows:

Cannabis Science and MDS signed a Worldwide Distribution Agreement effective August 10, 2011.

Pursuant to the terms of the agreement, Cannabis Science enjoys certain worldwide rights as MDS's exclusive and non-exclusive distributor of all MDS products for the Continents of Asia, Africa, North America, South America, Antarctica, Europe, and Australia/Oceania as set forth below;

  • Asia (All exclusive, excluding Russia, the Ukraine, Georgia, Belarus, Estonia, and Latvia)
  • Africa (All exclusive)
  • North America (All exclusive, excluding the United States of America)
  • South America (All non-exclusive)
  • Antarctica (All non-exclusive)
  • Europe (All exclusive, excluding United Kingdom)
  • Australia/Oceania (All exclusive)

The companies shall jointly share in the proceeds on placement of specialized cannabis dispensing safes in cultivation facilities for use in mitigating inventory and dispensing to personnel for delivery to the end user. Cannabis Science shall solely derive additional revenue by licensing its formulations and products to existing MDS clinics as well as newly formed clinics worldwide, as permitted by law.

About Cannabis Science, Inc.
Cannabis Science, Inc., takes advantage of its unique understanding of metabolic processes to provide novel treatment approaches to a number of illnesses for which current treatments and understanding remain unsatisfactory. Cannabinoids have an extensive history dating back thousands of years, and currently there are a growing number of peer-reviewed scientific publications that document the underlying biochemical pathways that cannabinoids modulate. The Company works with leading experts in drug development, medicinal characterization, and clinical research to develop, produce, and commercialize novel therapeutic approaches for the treatment for illnesses caused by infections as well as for age-related illness. Our initial focus is on skin cancers and neurological conditions.

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 words such as "anticipate," "seek," intend," "believe," "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.