Cannabis Science Inc (OTCMKTS:CBIS) a dedicated firm that specializes in the formulation of cannabis-based medicine, termed the proposed U.S. Senate bill as a ‘common-sense initiative.’ The new bill urges to end the federal restriction on medical marijuana so that the focus can be shifted on growth of new science-based research on varied uses of marijuana. Cannabis Science believes that medicinal marijuana is a pure bliss for those people who have to suffer from unbearable pain arising due to debilitating diseases.

The measure

Cannabis Science informed that the bi-partisan bill was proposed at a press conference by three Senators, and they are Kirsten Gillibrand, Cory Booker and Rand Paul. The new bill aims to downgrade medical pot categorization to Schedule II from Schedule I, permitting physicians to prescribe it to patients in need.

The company highlighted the fact that the change in existing regulations will support advance research and also ease banking problems. As of now, the companies operating in the marijuana sector finding it extremely tough to avail the normal banking services. Even they don’t have a choice but to do transactions in all cash.

The stance

Expressing his views on the matter, Sen Paul said it is “emotion of the tugs” in heart. Also, Sen Gillibrand said it as a medical treatment that can improve the quality of patients’ lives. Raymond C. Dabney, the President, CEO and Co-founder of Cannabis expressed that this is history. It is the time to move on with the new initiatives of relieving the suffering of children, patients and veterans. There is need of changes to support research and to attract investment in the marijuana industry.

 On Friday’s trading session, the share price of Cannabis Science surged more than 5% to close the trading session at $0.0358. The gains came on share volume of 6.92 million compared to share volume of 4.09 million.