Cannabis Science Inc (OTCMKTS:CBIS) has been looking towards potential acquisitions and partnerships to expand its business. The company recently acquired a pet care manufacturer and distributor, Equi-Pharm to break into the Pet Care industry. Additionally, CBIS also announced a partnership with Tauriga Sciences Inc (OTCQB:TAUG). As per the details of the agreement, TAUG will provide CBIS with medical and scientific content relating to the cannabis industry for publication. In return Tauriga would get public exposure of its products and services.
Equi-Pharm specializes in horse and pet grooming, along with other topical applications. The company had recently announced an expansion plan, which would allow it to manufacture medical and cosmetic products for large and small animals alike. CBIS would now like to add its cannabis formulations to pet grooming products, in a bid to come up with something totally new to the $60 billion industry. Cannabis Science also made public the development of three new cannabis based products for pet grooming; which would be available through CBIS distributors in selective states.
The CEO of TAUG, Dr. Stella Sung, stated that her company and CBIS share a common goal of providing information, products and education related to the medical cannabis industry. The two companies also share the view that cannabis can serve as an alternate to several therapies, without the adverse effects. Tauriga currently has two successful product lines that make use of cannabidoil, targeting musculoskeletal pain. However, Tauriga, unlike CBIS, is not a company that only relies on cannabis and hemp products.
CBIS is known make use of its unique understanding of metabolic processes to target illnesses, for which do not have proper cures. Additionally, CBIS is a heavily traded stock in the market, but unfortunately remains stuck on the OTCMKTS. However, the company has kept trying to change this fact through a number of acquisitions and partnerships which add value to the company.
Cannabis Science Inc (OTCMKTS:CBIS) registered a decline of 0.33% on May 2, despite trading 1.19 billion shares, to close at $0.0303.