Navigation Links
Cannabis Science Announces a Proposed 10:1 Ratio Structured Dividend Payout for a New Class of Common Shares to Shareholders of Record as of November 30, 2010
Date:11/2/2010

COLORADO SPRINGS, Colo., Nov. 2, 2010 /PRNewswire-FirstCall/ -- Cannabis Science, Inc. (OTC Bulletin Board: CBIS), a pioneering US biotech company developing pharmaceutical cannabis products, is pleased to announce to its shareholders and the investment community that its Board of Directors have confirmed decisions and processes regarding the new class of common shares.  The new class will initially be created by a proposed 1 for 10 new share dividend payment for shareholders of record as of the proposed record date of November 30, 2010.

The proposed structuring and implementation of the new class of common shares requires various state, SEC and FINRA filings and approvals. The Company will announce official filings and provide guidance as to target effective dates as it progresses through the process.  The proposed structure is as follows: New Share ClassThe Company's proposed new common share structure will include Class A as the new Class, and Class B will be the current outstanding trading common shares.  Each Class of shares will have its own trading symbol and will contain the following features:

Class A Common Share Features (New class of common shares):

  • 10 votes per shares
  • Convertible into Common Class B shares at a ratio of 30 for 1
  • Ratio participation of 9/10th (90%) on declared dividends
  • Unique trading symbol

  • Class B Common Share Features (Current class of common shares):

  • 1 vote per share
  • Not convertible into other classes of shares
  • Ratio participation of 1/10th (10%) on declared dividends
  • Unique trading symbol

  • The price ratio conversion feature on the new Class A shares is to ensure the integrity of the share price ratio during market fluctuations between the new Class A and B common share classes, similar to that of Berkshire Hathaway's Class A and B common shares.

    DividendCannabis Science proposes to issue a special dividend to all shareholders of the current common Class B shares on the proposed record date of November 30, 2010, which will consist of shares in the new common Class A shares at the ratio of 1:10 for each common Class B share held.

    In addition, the Board proposes to give each shareholder of record a share purchase warrant consisting of an option to purchase one additional share of the new common Class A share for each special dividend share received. Each warrant will be exercisable into one of the new common Class A shares at a price of $0.50 per share for a period of three - (3) months, expiring 90-days after all the proposed changes officially take effect.

    For example, a Cannabis Science shareholder who owns 1,000,000 of the current common shares on November 30, 2010 will receive a special dividend of 100,000 shares of common Class A shares in Cannabis Science and 100,000 share purchase warrants, to purchase 100,000 additional Class A shares at a purchase price of $0.50 per share for a period of three - (3) months, expiring 90-days after all the proposed changes officially take effect.

    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; 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.

    Cannabis Science Inc.Dr. Robert J. Melamede

    Mark J. FriedmanPresident & CEO

    Investor Relationsinfo@cannabisscience.com

    info@cannabisscience.comwww.cannabisscience.com

    www.cannabisscience.com 1-888-889-0888

    1-877-431-CBIS (2247)
    '/>"/>

    SOURCE Cannabis Science, Inc.
    Copyright©2010 PR Newswire.
    All rights reserved

    Related medicine technology :

    1. Medical Cannabis University™ Launches, Puts Thousands Back to Work to Help Veterans and the Chronically Ill
    2. DC Patients Cooperative Urges Changes to the Proposed Medical Cannabis Marijuana Regulations
    3. Cannabis Science Issues Guidance on Its Progress Toward FDA Investigative New Drug Applications For Clinical Trials and Proposed Dividend Payout for Current Shareholders to Receive a New Class of Common Stock
    4. CNBC, Discovery Channel and National Geographic to Cover Dr. Robert Melamede and Richard Cowan of Cannabis Science Whom are Speaking at The Marijuana Conference in New York City on Oct. 25 & 26
    5. ImmuneRegen BioSciences Reports Material Transfer Agreement with VaxGen, Inc.
    6. Intellect Neurosciences, Inc. to Present Data on Alzheimers Vaccine at 13th International Congress of Immunology Conference
    7. Advanced Life Sciences Collaborates with U.S. Government to Study Cethromycin as Treatment for Anthrax and Other High-Priority Biodefense Agents
    8. The Heart, Diabetes, And Weight Loss Centers of New York Introduce the New Science of Metabolic Diagnosis and Weight Management
    9. ImmuneRegen BioSciences, Inc. Demonstrates Radilex(TM) Increases Disease-Fighting White Blood Cells
    10. Upstream Biosciences Acquires Innovative Platform Technology and Drug Candidates for Tropical Parasitic Diseases
    11. Human Genome Sciences Completes Enrollment of First Phase 3 Albuferon(R) Trial Ahead of Schedule
    Post Your Comments:
    *Name:
    *Comment:
    *Email:
    (Date:6/23/2016)... Calif. , June 23, 2016 Any dentist ... many challenges of the current process. Many of them do ... of the technical difficulties and high laboratory costs involved. And ... to offer it at such a high cost that the ... it. Dr. Parsa Zadeh , founder of ...
    (Date:6/23/2016)... June 23, 2016 Roche (SIX: RO, ROG; ... for its Elecsys BRAHMS PCT (procalcitonin) assay as a ... septic shock. With this clearance, Roche is the first ... integrated solution for sepsis risk assessment and management. ... infection and PCT levels in blood can aid clinicians ...
    (Date:6/23/2016)... 23, 2016 Research and Markets has ... 52" report to their offering. ... creates a favourable commercial environment for MedImmune to enter. The ... that will serve to drive considerable growth for effective anti-influenza ... to cap sales considerably, but development is still in its ...
    Breaking Medicine Technology:
    (Date:6/25/2016)... ... ... As a lifelong Southern Californian, Dr. Omkar Marathe earned his Bachelors in ... School of Medicine at UCLA. He trained in Internal Medicine at Scripps Green Hospital ... at the UCLA-Olive View-Cedars Sinai program where he had the opportunity to train in ...
    (Date:6/25/2016)... (PRWEB) , ... June 25, 2016 , ... On Friday, ... presented a Bronze Wellness at Work award to iHire in recognition of their exemplary ... part of the 7th annual Maryland Workplace Health & Wellness Symposium at the BWI ...
    (Date:6/24/2016)... ... 24, 2016 , ... A recent article published June 14 on ... article goes on to state that individuals are now more comfortable seeking to undergo ... such as calf and cheek reduction. The Los Angeles area medical group, Beverly Hills ...
    (Date:6/24/2016)... , ... June 24, 2016 , ... June 19, 2016 ... dangers associated with chronic pain and the benefits of holistic treatments, Serenity Recovery ... are suffering with Sickle Cell Disease. , Sickle Cell Disease (SCD) is a disorder ...
    (Date:6/24/2016)... ... June 24, 2016 , ... The Pulmonary Hypertension Association ... it will receive two significant new grants to support its work to advance ... 25th anniversary by recognizing patients, medical professionals and scientists for their work in ...
    Breaking Medicine News(10 mins):