Cannabis Science Inc. (OTC: CBIS), a developer of cannabis-based medicines and related consulting, recently announced the acquisition of Equi-Pharm LLC, a manufacturer and distributor of specialty horse and pet grooming products. The acquisition incorporates an extensive expansion plan targeting larger animals and smaller pets with medical and cosmetic products. Over the coming months, the company plans on introducing a number of new cannabinoid-infused products into the large animal and pet industries.
“We are excited about the future of Equi-Pharm under the medical direction and leadership of Cannabis Science, we already have a great response from our customers on the limited sales from our five horse related grooming and health products for the Equestrian market,” said Equi-Pharm LLC VP Dana Kennamer. “We are currently developing the first three new cannabinoid-enriched pet products right now and will be available to the pet market within a matter of weeks through our current distribution channels.”
The company is also working on redesigning its website and adding helpful public information and e-commerce functionality. Using these new tools, customers will be able to purchase its products directly online, as well as through existing retail outlets and distributors. These products will include bringing new pet-related cannabinoid products to market targeting cats, dogs, pet snakes, and similar animals, as well as larger animals like horses, cattle, and sheep.
Shares of Cannabis Science Inc. shares fell nearly 5% in early trading following the news release on Friday, May 8, 2015.
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