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Cannabis Science Files Preliminary 14c Information Statement, the Action is to Create a New Class of Common Stock and Issue Dividend
Date:12/22/2010

and is not convertible into any shares of the Company's common stock.
With respect to rights on liquidation, dissolution or winding up, shares of Series A Preferred Stock rank on a parity with the Company's common stock.

Share Dividend

Upon the effectiveness of the Company ' s proposed corporate actions, the Company will issue a dividend to holders of our current common stock so they received 1 share of the new Class A common stock for each 10 shares of the former Class B common stock that they previously owned as of the record date. These shares will be mailed to the shareholders directly from our transfer agent without any action require on the part of our shareholders.

Warrants

Upon the effectiveness of the Company ' s proposed corporate actions, the Company will issue one non-transferable share purchase warrant for each 10 shares of the former Class B common stock that shareholders previously owned as of the record date, December 31, 2010. Each whole share purchase warrant will be exercisable into one share of Class A common stock at a price of $1.00 per share. The share purchase warrants expire 90 days from the date Class A common stock commences trading under its own unique symbol.

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
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Related medicine technology :

1. Cannabis Science Signs Lease for New 6,600 sq. ft. Corporate Headquarters and Laboratory Facility
2. 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
3. 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
4. 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
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