Cannabis Science Inc (OTCMKTS:CBIS) Updates On Licensing Deal With Purple Haze

Cannabis Science Inc (OTCMKTS:CBIS) disclosed that Purple Haze Properties’ Chief Executive Officer Andrew Pitsicalis will be presenting joint and individual medicinal products made with CBIS particularly for “Jimi’s Cannabis Collection.”

The medicinal products will include genetic strains and other products that will be highlighted at the “Marijuana Business Conference and Expo.” Purple Haze and Cannabis are working together present unique lines of cannabis products having scientific genetics. The two companies will built an education base to impart information about the advancements related to cannabis research.

The new concept

Purple Haze Properties will be disclosing its idea of the unique Lounges. The company is targeting Los Angeles and Denver as the starting inaugural locations. Thereafter, the target locations are Vancouver, B.C, and Jamaica which will serve as international future locations.

The ultra lounges will be built on an area of almost 20,000 square ft. and will boast a concert hall, restaurants, VIP memberships, and charity foundation. All the facilities are intended to provide the performer and patron an incredible cultural experience. The planned lounges will also have the best music and video technologies.

The opportunity

Cannabis Science revealed that they have decided to present the brand at the mega event which is also one of the largest and oldest countrywide cannabis trade events. Purple Haze will showcase Jimi’s Cannabis Collection including throat spray, strains, edibles, and medical CBD topical creams. The medicinal product line contains different products for pain management.

Cannabis Science will inform people by having dedicated kiosks in the locations to spread knowledge among self-medicating patients. They will be educated on cannabis diagnosed conditions and problems. The users can get detailed information as per their historical prescription, relative strain and treatment for ailments.

CBIS

Cannabis Science Inc  (OTCMKTS:CBIS) closed 2.48% higher yesterday compared to the previous day’s closing price but that wouldn’t bring any cheer to the bulls as the closing price of $0.0289 also reflected the rejection at the higher levels as the last half saw a decline of nearly 7% from the day high of $0.0310. The chart attached clearly shows the long term bear market the stock is in and this kind of small gains or even bigger bullish days are actually meaningless from the perspective of the larger trend. If the bulls can manage to reach $0.0350 somehow, that would be a big event for them but new lows look much more probable.

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