COLORADO SPRINGS, Colo., Sept. 6, 2013 /PRNewswire/ -- Cannabis Science, Inc. (NASD OTC: CBIS), is proud to announce that the Depository Trust Company (DTC) has confirmed through official communication to the Company, effective immediately, it has lifted the deposit transaction restriction "Chill" and has resumed accepting and processing deposits.
Excerpt from the official DTC Letter to the Company, "This letter is in response to your recent inquiries and submission regarding the deposit transaction restriction (the "Deposit Chill") on CUSIP 137648101 (the "Issue"), issued by Cannabis Science, Inc.
Please be advised that The Depository Trust Company has determined to lift the Deposit Chill and has resumed accepting deposits of the issue depository and book-entry transfer services."
Chad S. Johnson, Esq., Chief Operating Officer & General Counsel of Cannabis Science, stated, "This is great news and we are excited that the "Chill" has been removed. Our entire team, especially our legal and accounting teams, worked diligently on this matter, and we are thankful for the work they have done."
Cannabis Science continues with its efforts working toward novel cannabis and cannabinoid-based drug development to treat certain infectious and age-related illnesses and skin cancers, including HIV related cancers like Kaposi's Sarcoma.
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. The medicinal use of cannabis has an extensive history dating back thousands of years, and currently there is 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 illnesses. Our initial focus is on skin and other cancers including HIV related cancers such as Kaposi's Sarcoma.
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.
Cannabis Science, Inc.
Colorado Springs, Colorado
Dr. Dorothy Bray, CEO & Director
Dr. Robert Melamede, President & Director
Chad S. Johnson, COO, General Counsel & Director
Mario Lap, President of European Operations & Director
For Investor Inquires:
Vice President of Investor Relations
SOURCE Cannabis Science, Inc.