marijuana stocks news

Form 8-K for CANNABIS SCIENCE, INC.

24-Nov-2014

Entry into a Material Definitive Agreement

Item 1.01 Entry into a Material Definitive AgreementOn November 20, 2014, Cannabis Science, Inc.(the “Company”), entered into an Amendment to a License Agreement (the “Amendment Agreement”) that it had entered into with Apothecary Genetics Investments LLC (“Apothecary”) on February 9, 2012 (the “Original Agreement”). The parties entered into the Amendment Agreement to amend certain terms that were contained in the Original Agreement. In the Amendment Agreement, the Company has agreed to issue Apothecary or its assigns 14,500,000 shares of restricted common stock of the Company and fund Apothecary a minimum of $150,000 up to a maximum of $300,000 in working capital per calendar quarter commencing in the quarter ending December 31, 2014. In exchange the Company will purchase and license two northern California production farms with a combined total of 51 acres and related equipment for cannabis cultivation and new product development. As a result of the acquisition, the Company is entitled to licensing fees and royalties, rights to assign assets and fees to affiliates and subsidiaries and ownership of all tangible assets such as land, facilities and equipment as well as new business ventures.


MAPH Enterprises, LLC | (305) 414-0128 | 1501 Venera Ave, Coral Gables, FL 33146 | new@marijuanastocks.com
Leave a Reply

Your email address will not be published. Required fields are marked *

You May Also Like

Harborside Inc. (HBORF) Appoints Travis Higginbotham Jr. as Vice President of Production

Harborside Inc. Appoints Travis Higginbotham Jr. as Vice President of Production Harborside…

Tetra Bio-Pharma Inc. (TBPMF) Confirms QIXLEEF Clinical Site Receives Renewal of DEA Schedule 1 License

Tetra BioPharma Confirms QIXLEEF Clinical Site Receives Renewal of DEA Schedule 1…

Organigram Holdings Inc. (OGRMF) Announces Record Q3 Financial Results

Organigram Announces Record Q3 Financial Results – Net Income of $2.8 Million…

Cannabis Science, Inc. (CBIS) Announces the Nearing Completion of a Novel Patentable Formulary Cannabinoid Medication

Cannabis Science, Inc. Announces the Nearing Completion of a Novel Patentable Formulary…