Cannabis Science Inc (fka CBIS)

[BIG bhapa]

Proposed Dividend / Share Structure

CBIS has been proposing a share dividend and working on its approval since September 2010. The stated goal is to bring in larger investors to fund FDA trials and other projects. For all company statements on the proposal, see here:
http://cannabisscience.com/component/search/dividend.html?ordering=&searchphrase=all



New Share Structure
On December 20, 2010, our Board of Directors approved an amendment to the Articles of Incorporation to effect a recapitalization of the Company by establishing two classes of common stock, Class A and Class B and to issue a dividend to holders of our current common stock so they received 1 share of the new Class A common stock and 1 non-transferable share purchase warrant for each 10 shares of the former Class B common stock that they previously owned as of the current record date, December 31, 2010. Each whole share purchase warrant will be exercisable into one share of Class A common stock at a price of $1.00 per share. The share purchase warrants expire 90-days from the date Class A common stock commences trading under its own unique symbol. The Company is working diligently with the SEC and FINRA to obtain final approvals before any of the proposed changes can take effect.


DEF 14C Filed to give Dividend and Create New Share Class

http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=8108378

* Dividend will go to shareholders as of Dec 31, 2010
* Shareholders will receive 1 share of Class A stock (the new ticker) for every 10 shares of the current stock
* Shareholders will receive 1 purchase warrant for every 10 shares of the current stock. The warrants can be used to purchase Class A stock at $1 for 90 days.