CANNABIS SCIENCE, INC. (OTCMKTS:CBIS) Files An 8-K Entry into a Material Definitive AgreementItem 1.01
On March 14, 2018, Cannabis Science, Inc. (the “Company”), entered into s Share Purchase Agreement (the “Bottle It Agreement”) with Bottle It, Inc. (“Bottle It”), whereby it purchased all of Bottle It’s shares, rights assets, contracts, technology, intellectual property, titles and interests in Bottle It (collectively the “Bottle It Assets”). The purchase price for the Bottle It Assets is the issuance of 10 million restricted common shares. The Closing Date of the Bottle It Agreement is set for on or before June 9, 2018.
Also, on March 14, 2018, Cannabis Science, Inc. (the “Company”), entered into a Share Purchase Agreement (the “Novus Agreement”) with Novus Beverage Solutions Corp. (“Novus”), whereby it purchased all of Novus’ shares, rights assets, contracts, technology, intellectual property, titles and interests in Novus (collectively the “Novus Assets”). The purchase price for the Novus Assets is the issuance of 5 million restricted common shares. The Closing Date of the Novus Agreement is set for on or before June 9, 2018.
Established in 2014, Bottle It manufactures various preforms for various bottled waters, energy drinks and vitamin shots, tinctures, drops, various pill bottles, sprays, and various food containers for rice, flour, milk, dry food mixes, spices, mixed nuts, cookies, and the list goes on. Bottle It is a PET injection-mold and blow-mold manufacturer servicing the food and beverage industry that has reported approximately $1,500,00.00 in revenues each year for 2016 and 2017 consecutively.
Novus was established in December 2016, and perform the services of filling the plastic bottles with waters and various beverage and energy drinks with its bottling and packaging equipment since 2017.
In addition to high-quality stock products, Bottle It excels in the customization of bottles and containers – from concept to production, and its team of highly-skilled professionals create customer-driven product packaging while maximizing quality and container creativity. Bottle It partners with expert tool makers to create custom molds, making its customers’ visions a reality by deciding the height, shape, and embossed features of the bottle. All products and product waste are recyclable.
About CANNABIS SCIENCE, INC. (OTCMKTS:CBIS)
Cannabis Science, Inc. is engaged in medical marijuana research and development. The Company works on phytocannabinoid science targeting critical illnesses, and adheres to scientific methodologies to develop, produce and commercialize phytocannabinoid-based pharmaceutical products. The Company is involved in 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. The Company focuses on the development of governmentally approved pharmaceuticals, including CS-TATI1, CS-S/BCC-1 and neurological therapy under study or development. The Company’s subsidiaries include Cannabis Science BV and Cannabis Science International Holding BV.
