Cannabis Science Inc (OTCMKTS:CBIS) said that it finalized a one-year deal with Derwin A. Wallace. As per the agreement, Wallace will be responsible for financial and investor relations services. His prime focus will remain on expanding and managing the Company’s financial communications with the retail as well as institutional investment groups and commence coverage from research analysts resulting out of a financial and investor relations plan.
Expressing his views on the new role, Mr. Wallace stated that he will put all of his operational as well as financial resources to expedite Cannabis Science ongoing processes. He will communicate with Cannabis Science’s shareholders and discuss the ongoing and planned drug development programs, various patient education systems and provide information on product releases in motion.
Wallace said that his measures would be directed to speed up Cannabis Science programs results. Overall, it would help the company to get a sustainable operational cash flow. The company is handling a number of projects at the moment, like the product launch in California and Spain, then project focusing on Netherlands pre-lab discussions, various drug development projects in Italy, Africa and London, formulation releases in Washington and Colorado State, and other initiatives. The projected revenue reflects the potential of ongoing projects. All the development projects carried out by Cannabis Science in various locations indicate the growth in medical cannabis industry.
Enhancing shareholder value
Mr. Raymond C. Dabney who is the CEO of Cannabis Science said that the agreement with Wallace highlights the company’s dedication towards its shareholders. The objective is to create shareholder value by setting into motion the amount of $5 million to $25 million and make funds raises required to take the Company to the next level. The medical cannabis industry is undergoing a revolution and with that all market participants should be prepared to take informed decisions.