Cannabis Science Inc (OTCMKTS:CBIS) officials recently applauded the decision by the DEA to approve clinical trials to assess the effectiveness of smoked cannabis for the treatment of PTSD. According to CBIS, the move by DEA suggests that the agency is trying to expand access to marijuana treatment. The company also hopes that DEA will eventually reschedule marijuana to remove the current strict regulation of the drug.
For marijuana companies such as CBIS, clearing the way for clinical trials on marijuana treatment and potential rescheduling of the drug bodes well for the nascent legal marijuana industry.
Raymond C. Dabney University
Cannabis Science Inc (OTCMKTS:CBIS)’s CEO, Raymond C. Dabney, recently launched Raymond C. Dabney University (RCDU) and the company recently explained the rationale behind the move. The institution will offer law, business and medicine studies and it will target communities who are financially challenged so that they can obtain quality education to transform their lives.
RCDU has emerged from the partnership between CBIS and AEIG legal group. According to Dabney, more than $10 to $20 million per moth could be seen running through the system, which makes it a serious economic stimulus for the targeted communities.
Profit sharing model
The deal that Cannabis Science Inc (OTCMKTS:CBIS) signed with the owners of Fort McDermitt Tribal Allotment Indian Lands for the university facility and other projects involves profit sharing. According to William Bills of the Fort McDermitt, they will be not be imposing rent or lease charges on CBIS, but they have opted for a profit-sharing model that they hope will pave way for more rapid growth and return on capital.
The licensing fees are also smaller in the range of $150,000 to $250,000 compared to the range of $0.5 to $0.75 million elsewhere.
Landing in South Africa provides anchor to penetrate the continent
Cannabis Science Inc (OTCMKTS:CBIS) recently announced that its delegation has landed in South Africa in a first step toward introducing its products to the African markets. The team in South African will engage local government officials, academia, civil society and stakeholders in the private sector. The delegation will also be seeking to collaborate with international regulators in South Africa as well as other countries. CBIS’ cannabinoid products are designed to help in combating life threatening and debilitating medical conditions.
Penetrating South Africa deeper
Cannabis Science Inc (OTCMKTS:CBIS)’s South African delegation is spreading its gospel to more places in the country. After earlier arriving in Cape Town and held a series with various stakeholders, the team recently reached Johannesburg where advocacy for the company’s products will continue.
Other notable stocks in the Cannabis industry include are GW Pharmaceuticals (NASDAQ:GWPH), Cara Therapeutics Inc (NASDAQ:CARA), Greengro Technologies Inc (OTCMKTS:GRNH) and Hemp Inc (OTCMKTS:HEMP).
