COLORADO SPRINGS, Colo., March 31, 2015 /PRNewswire/ -- Cannabis Science, Inc. (OTCQB: CBIS) today announced it has entered into a one-year agreement with Derwin A. Wallace to provide financial and investor relations services for the Company. Mr. Wallace will focus on developing and expanding the Company's financial communications with the institutional and retail investment communities and initiate coverage from research analysts through a comprehensive financial and investor relations program.
"I am committed to putting all of my financial and operational resources to work to help expedite company processes, and I am looking forward to speaking with our shareholders about the multiple drug development programs, product releases and patient education systems strategies in motion," said Mr. Wallace.
"I expect my efforts should help speed up project results and grow the operational cash flow in a faster time frame," he added. "A number of key projects are underway, such as the Spain and California product releases, Netherlands pre-lab discussions, London, Italy and Africa drug development projects, Colorado and Washington State formulation releases, and Michigan State and NY State initiatives. Projected potential revenues reflect these projects. That, coupled with smart strategic moves the Company is making, indicates the future of medical cannabis is here, and all this doesn't even 'scratch the surface' of the real growth potential of this Company."
Mr. Raymond C. Dabney, President & CEO of Cannabis Science, Inc., said the new agreement "reflects our commitment to our shareholders to create shareholder value by setting into motion the $5M $25M and larger capital raises required to take the Company and our suite of products to the next level. With so much going on in the world of medical cannabis and such rapid change, investors and analysts need to be able to make rapid, educated decisions. Adding Mr. Wallace to the team is our most significant, recent step in accomplishing just that, and Mr. Wallace has the experience and expertise to help us tell our story in a professional and transparent manner."
Prior to contracting with Cannabis Science, Mr. Wallace accumulated more than 15 years of investor relations experience at companies including Home Depot, Cox Cable, First Data, and ResCare. As an investor relations professional, Mr. Wallace has extensive experience communicating with and educating institutional investors, retail investors and research analysts, including those interested in the medical cannabis industry. In 2014, Mr. Wallace decided to bring his investor relations experience to the cannabis sector and assisted in creating the Cannabis Investor Conference and founded the Cannabis Investor Webcast. Mr. Wallace holds an MBA with a concentration in Finance from Keller Graduate School of Management and a Bachelors of Science in Accounting from DeVry University.
"The drug development and contemplated growth programs that are underway strongly suggest a path of events and milestones of immense proportions," said Mr. Wallace. "The multitude of projects the Company has underway is spellbinding to say the least, categorizing and creating a timeline is the only way to stay adequately informed. It is astounding the amount of work this Company has put in over the years to get to this point, and it inspires me to join an organization with that level of commitment."
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