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Cannabis Science Inc Finalizes Deal Of its First PRE ICO Dispensary – (OTCMKTS:CBIS)

Cannabis Science Inc (OTCMKTS:CBIS) reported that its expansions strategies are well underway as it has finalized deals to acquire and officially begin the preliminary “PRE ICO” Medical Marijuana dispensary in Los Angeles.

The details

Raymond C. Dabney, the CEO and President of Cannabis Science, reported that attaining this preliminary PRE ICO Dispensary in L.A. is a remarkable step for company as it paves the way to advance their planned expansion in the respective area and ultimately California statewide. This is a prime instance of their aggressive and resilient deals to buy numerous pharmacies across the Los Angeles segment. Finalizing this deal is just the initial step of several that Cannabis Science will be implementing to establish a countrywide presence.

ICO describes the Interim Control Ordinance positioned in Los Angeles in September 2007. Pre-ICO dispensaries are those that were legitimately signed up as collectives before the statute.

2013’s Measure D permitted the 135 pre-ICO dispensaries to stay open in the city of Los Angeles if they comply with the town’s rules on the distance from schools, churches, and other protected area.

Dabney added that as they buy these dispensaries their preliminary measure for some of them is to enhance, convert and enlarge each site into the company’s Brand, with Grand Openings demonstrating Cannabis Science offerings and quality Cannabinoid accessories and products for the doctors, patients and the consuming public.

Each site will permit for easier access and an improved selection of offerings for the customers. Products will range from extracts, sprays, pills, oils, creams, balms, patches, tinctures, edibles, and even merchandise. Not all offerings in the dispensary will be only from Cannabis Science, as they will be showcasing offerings from other reputable, regulated brands.

The company has been working assiduously toward introducing this very vital phase of growth. Cannabis Science is looking to start a number of sites throughout California in stage one via acquisition or associating with existing approved PRE ICO dispensary sites, and the complete build-out of new locations. Each site will be selectively chosen, allowing for company to establish effective and successful dispensaries. This is one of several intended vertical integration plans well underway at company.

In the last trading session, the stock price of Cannabis Science jumped more than 4% to close the day at $0.0551.

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