Cannabis Science Acquires Montana Pain Management

by Buddy Vapesit

COLORADO SPRINGS, Colo., June 17, 2010 (GLOBE NEWSWIRE) — Cannabis Science, Inc. (OTCBB:CBIS), a pioneering U.S. biotech company developing pharmaceutical cannabis products, is pleased to report that it is acquiring one of the leading medical marijuana providers and pioneers in the industry in the state of Montana; Montana Pain Management, Inc. (MPM) (http://www.montanapm.com/). MPM is a for-profit clinic which, in conjunction with duly licensed caregivers, provides a full range of cannabis therapeutics and other services to its patients throughout the state of Montana. MPM is unique in its dealing with the Department of Health & Human Services for the State of Montana’s Medicaid “spend down” program, thus allowing for state approved medical marijuana reimbursement for all qualifying patients.

Richard A. Rosio, President & CEO of Montana Pain Management, Inc., states, “We are very pleased to now be under the umbrella of Cannabis Science. It is a distinct honor to be working with one of the foremost experts on cannabinoid science, Dr. Robert Melamede, Ph.D. Our medical clinic model provides checks and balances and an ability to track all cannabis produced and provided to specific clients, all in compliance with Montana law, thus providing an accurate tracking for physicians on their patients’ cannabis usage and an ability to gather data on strain-specific benefits. Right now, Montana Pain Management has over 450 patients and projected annualized gross revenues of approximately One Million Dollars ($1.0M) per year. Now that we are a part of Cannabis Science’s expert team, we will grow our business in Montana significantly. Our current target is set at over 100 new patients per month for the next year. Being the largest provider in the state will present some serious growth issues, problems we are happy to embrace and address. We have much more demand than we can possibly supply. Cannabis Science has established their expertise in several areas of expansion that we require, which makes our acquisition a natural fit. The first order of business is to expand our facilities so we can meet the demand from the patients in need of our treatments and medicines.”

Cannabis Science President and CEO Dr. Robert Melamede, PhD. explained, “We are very pleased we worked out a win-win situation with Montana Pain Management. Working with caregivers in Montana and in other targeted markets, we can expand both our research base for FDA approved pharmaceutical cannabis products and our profit potential while we continue to grow in the expanding medical marijuana industry. The MPM medical clinic model is something we already have in our business model. Therefore, having Mr. Rosio and his team on board helps us move that portion of the business model forward much faster. A cannabis clinic model can work within any community and provide not only cannabis therapy but provide liveable-wage jobs and provide new tax revenue for the local communities. MPM is also addressing the unique needs of the disabled community and providing a Veterans Rep to assist disabled Veterans with their processing for the medical cannabis program. I am looking forward to assessing the research on the health problems encountered by the disabled communities especially for disabled veterans of Montana as a part of CBIS’ focus on PTSD and chronic pain. The Montana veterans suffering from PTSD and chronic pain who are seeking an alternative to narcotic use now have a program available to them with Montana Pain Management.”

Richard Cowan, Cannabis Science CFO, explained, “We are ramping up pretty fast, all things considered, that makes for two complementary acquisitions in about as many months. With this growth curve, we expect something spectacular for all Cannabis Science shareholders. We expect this acquisition to boost our management team on several fronts that will help us move our business model forward much faster while bringing a scientific approach to what is a well-intentioned effort to provide help for the seriously ill. We look forward to sending our team to Montana to assist with the increase of production and enlarge the operations substantially so MPM can increase the number of patients for which they, working with caregivers, can provide care. As with our previous acquisition of Rockbrook, this acquisition is very important to Cannabis Science as it provides a working clinic model and additional key experts working closely on our expansions and market development to help rapidly drive the success of our group of companies.”

Cannabis Science Inc.

Cannabis Science is at the forefront of pharmaceutical 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,” “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.

CONTACT: Cannabis Science Inc.
Dr. Robert J. Melamede, President & CEO
1-888-889-0888
info@cannabisscience.com
www.cannabisscience.com
Investor Relations
Mark J. Friedman
1.877.431.CBIS (2247)
info@cannabisscience.com
www.cannabisscience.com

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